Lease Office Space For Your Business In Pittsburgh

Posted by Alisa William on September 18th, 2019

Are you and your business in need of bigger accommodations at affordable prices? Is close physical proximity, e.g., shopping, conference centers, and theaters important factors? If you said yes to these questions, then you should lease office space in Pittsburgh. Here are five reasons why your office should be located in the Steel City.

1. Multiple Rankings

Pittsburgh has garnered an enviable spot on various listings. Consider these facts published by Three Rivers Commercial Advisors, a commercial brokering firm.
See http://www.colliers.com/en-us/us/insights/marketnews/2016-04-us-office-report.

• The Steel City has been voted the most livable city 6 times since 2000.
• Grosvenor ranked Pittsburgh the 5th most resilient city in the world.
• Farmer’s Insurance ranked it as the 3rd safest city in the nation.
• The City of Bridges has the most affordable rent - a “2.3 percent decrease [in retail commercial space.”

See - http://www.loopnet.com/Pittsburgh_Pennsylvania_Market-Trends

2. Economic Outlook

This iconic city is a notable venue for healthcare, higher education, banking, and information technology.

Office amenities include access to downtown and Pittsburgh International Airport via the convenience of I-79.

Additionally, the city is a cultural hub. The Carnegie Museum of Art and the Andy Warhol Museum and theaters are conveniently located downtown or other popular areas.

3.Housing and Construction

Multifamily development continues at a steady pace and contributes to urban growth.

In 2015, Brass Building Lofts, Region at Alcoa, Hot Metal Flats and Morrow City Park contributed to the 551 units that were built.

In 2016 - 2017, 2,034 units are expected to be constructed including Eastside Bond, Heinz Loft, The Vitmore on Baum and Walnut on Penn.

In 2018 and beyond, 5,000+ units will be constructed.

However, the submarkets vacancy rates for office space are as follows.

• Oakland - 2.3 percent
• North Pittsburgh - 5.7 percent
• Northeast Pittsburgh - 6.3 percent

4. Jobs, Jobs, Jobs

The most recent list of all cities ranks Pittsburgh as the 169th-best city for job growth.

Here is a breakdown of the labor market.

Leisure and hospitality - +8k
Wholesale Trade - +5.4k
Education and medicine - +5.1k
Professional and business services - +1.9k

As of February 2017, the unemployment rate was 4.7 percent.

5. Technology

Pittsburgh has been dubbed “The New Silicon Valley” because it is one of five select locales in the nation with capital heavily invested in the intelligence and robotics industries.

Uber has offices in Lawrenceville, Facebook has a location in Oakland and Bosch has space in the Strip District. Microsoft has a venue in North Shore.

So if you want to enjoy low fuel costs, reasonably priced spaces built to suit and tax incentives, then you should lease office space in Pittsburgh.

Alisa William is the author of this Article: To know more about lease office space in Pittsburgh please visit website: novaplace.com