The vacancy rate in Pittsburgh's office market declined in the second quarter to 18.2 percent from the 18.7 percent at the end of the first quarter, according to a report issued Friday.
New leases signed for space Downtown included First Niagara Bank for 50,000 square feet at 11 Stanwix St. and Direct Energy's 52,000 square feet at Liberty Center, said a report by GVA Oxford.
Other leases include West Penn Allegheny Health Systems moving its executives to Alcoa Business Service Center on the North Shore; and Expedient Communications relocating its headquarters from Norfolk, Va., to Two Allegheny Center, also on the North Shore.
NAI Pittsburgh Commercial represented the Landlord in the West Penn Allegheny Health Systems lease.
NAI Pittsburgh Commercial is a Pittsburgh proud locally owned and operated company. To see some of the Office and development opportunities available in the Pittsburgh region CLICK HERE.
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1 comment:
However, the decrease rate is just of 0.5%, but still it is a matter of relief. This is a positive sign of improvement in economy. I hope in next reports we would see more improvement.
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