On average, listings lease in the $20's per square foot per year. The Fifth and Forbes Corridor region is experiencing a decline in rates. In the last 3 months, the median rate decreased $5 per sqft per year. That's a 16% decline in rent.
Compared to the rest of the Pittsburgh market, the Fifth and Forbes Corridor region has more expensive rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 88 listings have been posted online, so you'll want to check back regularly for new listings. About 1% of the listings in the Fifth and Forbes Corridor are subleases, so you will probably have to focus your search on direct office leases. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,380 sqft. Most properties in this region are approximately 14 floors. Most buildings in this area were built in 1916 and are Class B.
Wholesale trade is the dominant industry in this market. Commute by bike is the most popular way to get to work amongst Fifth and Forbes Corridor residents. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.