IMPACTS OF ECONOMIC DEVELOPMENT ON THE CITY’S COMMERCIAL REAL ESTATE MARKET
What You’ll Learn:
- Industrial space is in demand. What are the impacts of this on development, rental rates, and lease terms? With the potential for large giants like Amazon to take up more space in Pittsburgh, what does this mean for the greater industrial market?
- Office has not had the same recovery and vacancies remain high in Pittsburgh. How has this affected the overall office market and what does the outlook look like as we continue to fight the pandemic?
- The housing market has strong demand in Pittsburgh and a growing tech worker population is increasing the demand for Class A units. What does this mean for the future of the housing market in the Steel City?
- What areas of Pittsburgh are great for investors to look for new development? With redevelopment rising, what types of properties are we seeing being repurposed?
- Placemaking, walkability, outdoor restaurants – all of these buzz words are surrounding development in major cities. How is Pittsburgh being developed to entice new businesses and residents to come to the city?
- There are a lot of factors with major potential to affect development such as rising interest rates, new SEC green disclosure rules, delays in the supply chain, and labor shortages. How are these affecting development in Pittsburgh and what are the possible long-term effects?
