Check out the quarterly report from JLL on the Pittsburgh office market, below. Highlights include:
- Pittsburgh’s office market in Q4 2025 saw stable average rents, sustained Class A premiums, and rising vacancy, particularly for urban and Class B CBD properties.
- Suburban areas posted positive absorption, while conversions and rightsizing drove overall market contraction downtown.
- Available leasable space declined by 150 basis points since Q1 2025, signaling potential for future stabilization as obsolete buildings continue to be withdrawn from the market.
- Leasing featured long-term renewals, expansions and relocations. Rising defaults among downtown Class B assets may prompt additional conversions, while transactions like the Station Square acquisition show continued investor interest in redevelopment.
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