Report | Pittsburgh Energy Outlook - 2015
A major U.S. energy hub for years, Pittsburgh's energy sector faces a number of new challenges—given the major dip from the oil and gas industry and natural gas prices holding at historically low levels.
As a result, overall demand for office space from energy tenants has slowed significantly over the last 18 months—even within the popular Southpointe submarket—and we expect additional consolidation in the coming year will likely increase vacancy rates even further.
However, landlords view the energy sector's slump as temporary—offsetting losses by dipping into other sectors of the city's diverse economy such as science and tech.
What does this all mean for both tenants and landlords in the local energy sector? Download Pittsburgh's 2015 Energy Outlook to learn more.
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