2025
2025
Fall Forecast: Market Moves & Momentum Pittsburgh Office Market Snapshot – Heading into Q4 2025 As the leaves turn and Q3 winds down, Pittsburgh’s office market is showing signs of recalibration. While vacan- cy rates remain elevated, subtle shifts in absorption, rental pricing, and tenant preferences suggest a market in quiet transition. Here’s what to watch as we step into fall: Office Market Metrics at a Glance
VACANCY RATE ASKING RENT
AVAILABILITY Up to 19.6%, reflecting continued tenant churn and cautious leasing behavior 19.6%
Holding steady at 17.4%, signaling a plateau after several quarters of volatility 17.4%
$25.23 Steady increases despite high vacancy
Top 3 Predictions for Q4
Flight to Quality Will Accelerate Tenants are prioritizing upgraded, amenity-rich spaces. Expect increased demand for Class A buildings with flexible layouts and wellness features. Repurposing Over New Builds With construction costs rising, developers are pivoting toward adaptive reuse and renovation strategies rather than speculative new projects. Suburban Submarkets Gain Ground As hybrid work models persist, suburban office clusters may see a modest uptick in leasing— especially near retail corridors and transit hubs. Strategic Takeaway While the Pittsburgh office market isn’t roaring into Q4, it’s quietly repositioning. For investors and occupiers alike, this is a season to refocus portfolios, reassess space needs, and lean into strategic upgrades. The momen- tum may be subtle—but it’s building.
Hanna Commercial Pittsburgh Newsletter / September Edition
Hanna Commercial Pittsburgh Newsletter / September Edition
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