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PITTSBURGH INSIGHTS


Every day we strengthen our ideas with actionable research and insights that can position any client in any sector for what's next.
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Q4 2020 MARKETBEAT REPORTS

UNEMPLOYMENT DECREASES MARKEDLY

On the local front, Pittsburgh’s unemployment rate ticked down 710 basis points (bps) in the fourth quarter of 2020, outperforming the national average change. With widespread vaccine distribution imminent in the coming quarters, optimism is justifiable, however, COVID 19 has dampened the outlook.
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Q3 2020 MARKETBEAT REPORTS

UNEMPLOYMENT DECREASES AS INFLECTION POINT REACHED

Upon the arrival of COVID 19 in the U.S., the economy entered a recession in March 2020, recording the worst decline in post war history in Q2 2020. Mounting evidence indicates that the recovery began in May or June with Q3 2020 data likely reflecting that. But, until there is a public health resolution to the pandemic, the recovery is likely to remain uncertain and gradual.
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Q2 2020 MARKETBEAT REPORTS

UNEMPLOYMENT INCREASES TREMENDOUSLY

Pittsburgh’s unemployment rate ticked up markedly to 15.9%, with the U.S up to 14.0%, an unprecedented upward trend that has recently plateaued. The COVID 19 pandemic struck the U.S. in March 2020, late in the quarter but with enough time to have a significant impact on first quarter market fundamentals. Read more...
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CHECK OUT OUR Q2 2020 RECAP NEWSLETTER HERE:          OFFICE          INDUSTRIAL

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Q1 2020 MARKETBEAT REPORTS

UNEMPLOYMENT INCREASES, BUT ONLY THE BEGINNING OF DOWNTURN

Pittsburgh’s unemployment rate ticked up markedly to 4.7%, with the U.S up to 4.4%, but the upward trend is only beginning. Someare forecasting a peak of 15% U.S unemployment and cumulative GDP contraction of 10%, which would mark the deepest recession on record, and nearly five times worse than the post-war average. Pittsburgh is in for a bumpy ride as the country rides out COVID-19. Read more...
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CHECK OUT OUR Q1 2020 RECAP NEWSLETTER HERE:          OFFICE          INDUSTRIAL

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Q4 2019 MARKETBEAT REPORTS

ABSORPTION FINALLY TURNS POSITIVE

In a welcomed sign for the region, absorption in the fourth quarter of 2019 turned positive to 288,000 square feet (sf), finally challenging a five quarter trend. This was largely driven by the Greater Downtown/Strip District submarket. Absorption in the CBD was still negative, even as supply was static, due to tenant downsizing and the continued migration of younger companies to fringe markets. Read more...
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IN THE NEWS


CRE VIEWS: EPISODE 11 WITH JACK O'DONOGHUE

Tune into today's CRE Views NAIOP Pittsburgh Developing Leaders podcast to hear from one of our founding principals, Jack O'Donoghue. Jack shares his story of getting into commercial real estate and gives genuine insight about what he's learned after being in the industry for 35+ years.
Listen to the podcast here. 8/27/2020
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DEVELOPING PITTSBURGH: OFFICE MARKET UPDATE

In the Fall 2020 issue of DevelopingPittsburgh Magazine, our research expert Justin K Brown gives an Office Market Update for our region, discussing the economy, supply and demand, and how the pandemic is affecting rents in Pittsburgh.
​Read more here. Fall 2020.

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HITTING THE MARK: TARGET TO OPEN A STORE IN DOWNTOWN PITTSBURGH

Good things come to those who wait! Our very own John Jackson worked on recruiting Target for three years and is excited to see Kaufmann's Grand on Fifth come back to life and offer a much-needed amenity to downtown residents and workers.
​Read more here. 7/23/2020
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CRE VIEWS: EPISODE 5 WITH ASHLEY KOLTONSKI

Ep. 5 of MIC DROP is live! In this episode, guest Ashley Koltonski of Cushman & Wakefield | Grant Street Associates, Inc. shares her thoughts on CRE marketing.
Listen to the podcast here. 8/27/2020
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LEASING ASSIGNMENT FOR US STEEL TOWER CHANGES HANDS

Downtown-based Cushman & Wakefield | Grant Street Associates is taking over the leasing of downtown's biggest building after hiring away the executive long charge with the assignment. We welcome Todd Cwynar as our Executive Director of Agency leasing, along with Anita Spano as a Client Services Marketing Manager. 
Read more here. 4/2/2020
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FINAL TWO RETAIL SPACES NOW LEASED AT THE CORK FACTORY

Get ready to eat some southern chicken at Coop De Ville, then burn off those calories at TruFusion. “We are always excited to partner with a landlord who has a thoughtful vision for their project. These tenants not only complement this development and offer wonderful tenant amenities to the residents of The Cork Factory, but they also add enormous value to the community and Pittsburgh region” says John Jackson, Senior Vice President of Retail Brokerage & Leasing​.
Read more here. 2/18/2020
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WANT TO LEARN MORE?

Get in touch with Justin Brown, Director of Research.
Click below to subscribe to the Office and Industrial newsletters that are published quarterly with Pittsburgh news, commercial real estate deals and economic insights.
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© Cushman & Wakefield | Grant Street Associates 2020. All Rights Reserved.
Cushman & Wakefield | Grant Street Associates
310 Grant Street, Suite 1825
Pittsburgh, PA 15219
412-391-2600
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