Pittsburgh Is Remade as Steal City
Downtown Pittsburgh Booms With New Construction, Rising Office Rents; ‘More and More Attractive’
Source: The Wall Street Journal
Based on its booming new construction projects and rising office rents, The Wall Street Journal recently shined the spotlight on the Steel City. The Wall Street Journal reports that the city of Pittsburgh has transformed into one of the most resilient office-rental markets in the U.S., prompting a flurry of building sales, as some longtime owners take profits.
Market for Office Buildings in Downtown Pittsburgh on the Upswing
The economy and lending environment for investors in large office buildings are positively influencing Downtown Pittsburgh real estate sales. This good
news is also trending nationwide. According to the Pittsburgh Tribune-Review, Pittsburgh, along with Chicago, San Francisco and New York are getting the nod for major office buildings on the market. But Pittsburgh’s commercial real estate market, which offers strong demand and record low vacancy rates, has a financial advantage.