On average, listings lease in the $30's per square foot per year. The Cultural District region is seeing a a rise in rates. In the last 3 months, the median rate rose $5 per sqft per year. That's a 21% increase in rent.
Compared to the rest of the Pittsburgh market, the Cultural District region has more expensive rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 10 listings have been made available, which means office spaces are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 30% of the office spaces in the Cultural District are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 9,410 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this area are close to 27 floors. Most buildings in this market were built in 1917 and are Class B.
This market is fairly equally mixed residential and commercial. Professional services is the dominant industry in this area. Commute by public transit is the most popular way to get to work amongst Cultural District residents. Commuting approximately 30 minutes a day is the norm for those who opt to reside in this part of town.