Pittsburgh Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $28.08 2024 Avg. Asking Rent
  • 21.11% 2024 Office Vacancy Rate
  • $65.7M2024 Total Office Sales
  • $100.72Avg. Sale Price/SF

Pittsburgh office price per square foot in 2024 was $28.08 on average. The local office market recorded an average vacancy rate of 21.11% across all asset classes combined. The 10 transactions that closed here throughout 2024 amounted to a total sale volume of $65.7M. Pittsburgh office space commanded an average sale price per square foot of $100.72.

See how this market compares to the national average: U.S. office space rent & sales.

Average Rent by Office Class

2024 Average Office Rent per Square Foot

  • Pittsburgh Class A & A+ Office Space$30.84
  • Pittsburgh Class B Office Space$23.83
  • Pittsburgh Class C Office Space$21.48
  • Pennsylvania Class A & A+ Office Space$34.29
  • Pennsylvania Class B Office Space$25.57
  • Pennsylvania Class C Office Space$19.06

Pittsburgh, PA Office Asking Rents by Class

Average office rent in Pittsburgh rested at $28.08 per square foot in 2024. As would be expected, office rent price showed some variation from one asset class to another. As such, the asking rent for class A office space in Pittsburgh averaged $30.84 per square foot. Across all submarkets, class B office space recorded an average asking rent of $23.83 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $21.48 per square foot, on average. Comparably, statewide Pennsylvania average office rents by class in 2024 were: $34.29 per square foot for class A office space; $25.57 per square foot for class B office space; $19.06 per square foot for class C office space.

2024 Office Vacancy Rates in Pittsburgh

Submarket Asking Rents Vacancy Rates
Oakland $46.34 23.69%
Pittsburgh CBD $29.39 16.54%
Greater Downtown $28.80 18.13%
Parkway West $25.24 23.60%
South Side - Technology Drive $25.03 31.14%
South $24.86 17.73%
North $23.77 19.14%
Bridgeville $21.00 4.55%
Parkway East $20.08 26.17%
Northeast $19.57 47.98%
Data provided by Commercial Edge
Submarket differences in factors such as property mix, degree of accessibility, and availability of amenities influence not only variation in office rent price, but also in vacancy rates. The overall office vacancy rate on the Pittsburgh market was 21.11% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Pittsburgh was 4.55% in the Bridgeville submarket, while the highest office vacancy in the market was 47.98%, recorded in Northeast.

Office Spaces for Rent in Pennsylvania

Pittsburgh Office Sale Price per SF

  • $100.722024 Avg. Price per SF
  • $65.7M2024 Office Sales Volume
  • 102024 Number of Transactions

Pittsburgh, PA Sale Price per SF Trend

  • Pittsburgh Avg. Sale Price per SF in 2024$100.72
  • Pennsylvania Avg. Sale Price per SF in 2024$103.46
The sale price for office space in Pittsburgh averaged $100.72 per square foot in 2024, across all market subdivisions and asset classes. Conversely, the statewide Pennsylvania average office sale price during the same time period was $103.46 per square foot.

2024 Office Sales Volume

  • Pittsburgh, PA Total Office Sales Volume in 2024 $65.7M
  • Pittsburgh, PA Total Number of Office Sales Closed in 2024 10
A total of 10 deals closed on the Pittsburgh office market in 2024, adding up to a yearly sales volume of $65.7M. Notably, the largest transaction on the market saw Pittsburgh Athletic Association Building change hands for $32,382,380 on 6/17/2024.
Data provided by Commercial Edge

Coworking Spaces in Pennsylvania

2024 Office Construction in Pittsburgh, PA

  • Pittsburgh, PA Total SF completed in 2024 454,452
  • Pittsburgh, PA Total SF under construction in 2025 268,000

During 2024, 454,452 square feet of new office space were delivered across the market. At the close of 2024, the Pittsburgh office inventory included 1 buildings equal to or larger than 25,000 square feet, which comprised 454,452 square feet of office space. Looking forward, development activity throughout 2025 is estimated to add 268,000 square feet of office space to the market, before year-end.

Largest Office Properties Recently Completed in Pittsburgh
Office building Address SF Completed
Mill 19 - Building C 4000 2nd Avenue, 15207 97,000 2023
Liberty East 141 South Saint Clair Street, 15206 306,978 2022
The Box Office at SouthSide Works 425 Cinema Drive, 15203 66,263 2022
75 Hopper Place 75 Hopper Place, 15222 145,292 2021
Bakery Office Three 6420 Penn Avenue, 15206 306,333 2020
275 North Shore Drive 275 North Shore Drive, 15212 200,000 2019
Mill 19 - Building A 4000 2nd Avenue, 15207 94,000 2019
Tower Two-Sixty 260 Forbes Avenue, 15222 400,000 2016
Bakery Office Two 6425 Living Place, 15206 209,244 2016
3 Crossings - 2501 & 2555 Smallman Street 2501 Smallman Street, 15222 128,011 2016

Worth noting among recent office completions on the Pittsburgh market is Mill 19 - Building C, which is currently the largest new office development in the city, at 97,000 square feet.

Data provided by Commercial Edge

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This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Pittsburgh commercial properties sized 25,000 square feet or larger.

While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor CommercialEdge can guarantee that the information provided is complete.