Skip to main content Skip to footer

Pittsburgh Office Market Report | Q4 2022

Download Report
22Q4  Office Hero Image

Pittsburgh office market statistics point toward recovery as vacancy rates decline


Vacancy rates in the Pittsburgh region stayed flat, an indication that the office market recovery continues to face challenges. However, despite continued softening conditions, leading landlords remain motivated to be as competitive as possible: the overall asking rental rate improved within the fourth quarter. Relatedly, new construction persisted into Q4, keeping momentum from the previous two quarters. 

Read more about the latest retail trends and statistics in the Pittsburgh market within our full report. 


22Q4  Office Search Result

Pittsburgh Office Market Report | Q4 2022

Download Report
Related Experts

Paul Horan

Principal | Office Brokerage

Pittsburgh

I have been involved in the commercial real estate industry for more than 30 years, with a focus on office agency and tenant representation.  Prior to joining Colliers International | Pittsburgh, I was a Founding Principal at NAI Pittsburgh Commercial, which was the Western Pennsylvania regional representative of NAI Global and I also worked  as the director of brokerage and leasing at Grant Street Associates, Inc./Cushman and Wakefield affiliate  where I was responsible for commercial office leasing and sales in the Greater Pittsburgh area.

At Colliers International I oversee the  office agency and tenant representation divisions in the Pittsburgh office.  My overall experience in both agency and tenant representation has made it possible for me to consistently be involved in major transactions in the Pittsburgh and Western Pennsylvania area.

I have represented clientele such as Westinghouse Electric Company, Commonwealth REIT, Hertz Investment Group, GAI Consultants and Propel Schools.

View expert

Cody Sharik

Associate | Pittsburgh

Pittsburgh

I am an Associate at Colliers International in Pittsburgh, Pennsylvania and I specialize in Occupier Services. I am responsible for assisting  office tenants, throughout western Pennsylvania and the surrounding area, identify the best possible location and property for their specific needs. I also help my clients negotiate their leases using market specific knowledge. I am dedicated to providing the best client services expertise while also building a trusted and valued relationship with my clients.

 

Prior to joining Colliers International | Pittsburgh, I was an account executive for the Pittsburgh Pirates where I learned to refine my  client communication skills that I have brought over to Colliers International | Pittsburgh. 

View expert

Dick Cassetti

Senior Vice President

Pittsburgh

I am the Senior Vice President and Market Leader of the Colliers International office in Pittsburgh, Pennsylvania.  My background in commercial real estate started over 40 years ago and for the past 35 years I have specialized in occupier services, corporate solutions and I haver represented law firms in almost one million square feet of transactions.

I collaborate with my clients and establish a real estate needs assessment program.  This program organizes the client's real estate portfolio, which in turn, helps lower their real estate operating expenses.

View expert
Q4 Interview: Astrobotic's John Thornton & Colliers' Ed Lawrence
John Thornton of Astrobotic