Pittsburgh Homes Daily

The vacancy rate for office space in the downtown area of Pittsburgh in 2006 was up 2% to 20%, according to a report issued by Grubb & Ellis and reported in the Pittsburgh Post-Gazette.

More interesting is the concluding paragraph of the Post-Gazette article, which suggests that the redevelopment of the Fifth-Forbes corridor, between the construction of a office/residential complex by PNC Financial Group and the Millcraft Industries’ redesign of the former Lazarus and G.C. Murphy stores “could spark a Downtown resurgence that would make a 20 percent vacancy a thing of the past.”