Pittsburgh Office Figures Q1 2026

In Q1 2026, the market posted negative net absorption of 266,000 square feet, a 448,000
sq. ft. decline from Q4 2025’s positive 182,000 sq. ft. and a 298,000 sq. ft. shift from the
positive 32,000 sq. ft. recorded in Q1 2025. Vacancy rose to 17.6%, up 40 basis points
quarter-over-quarter and 60 bps year-over-year, while availability held at 20.7%
quarter-over-quarter but increased 40 bps from Q1 2025’s 20.3%.
The average asking rate increased 0.8% quarter-over-quarter and 1.0% year-over-year to
$26.74 per sq. ft., compared with $26.53 in Q4 2025 and $26.48 in Q1 2025. On the supply
side, there was no space under construction and no new deliveries in Q1 2026; the most
recent addition to inventory was the 387,000 sq. ft. delivered in Q4 2024.