• The Pittsburgh office market posted a big jump in sublease space with over 830,000 sq. ft. coming available since April, doubling the amount on the market at the end of last year.
  • Absorption in Q4 2020 was actually positive due to several construction deliveries with pre-leased space: Bakery Office Three (303,461 sq. ft.) partially leased by Philips and Carnegie Mellon University affiliated Software Engineering Institute and both Boardwalk I & II (216,000 sq. ft.) leased by ConnectiveRx.
  • Construction activity continued to break ground in 2020 on a speculative basis demonstrating developer confidence in demand for new product.