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United States | Pittsburgh, PA

Report | Pittsburgh Office Insight - Q3 2016

Summary

Renovations across Pittsburgh are on the rise as increasing rental rates haven't yet hit the threshold to warrant new development and landlords can mitigate their risk using these older buildings. Citywide, more than 20 buildings are undergoing some type of renovation or being converted.

While demand remains in the urban submarkets as of Q3, pending moves by large tenants downtown will soften market conditions. Most recently, the Art Institute announced plans to leave its 175,000-square-foot building.

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