Cultural District Office Space

Cultural District

Office Space Market Report

Number of Listings (last 90 days)
16
Median Rate ($/sqft/yr)
$28
Median Size (sqft)
5,720
As of: December 2, 2016

Cultural District Rates

Most listings are in the $20's per square foot per year. The Cultural District region is going through a decline in rates. In the last 3 months, the median rate decreased $7 per sqft per year. That's a 19% decline in rent.

Compared to the rest of the Pittsburgh market, the Cultural District submarket has smaller rates, so you should have no trouble finding a great deal in this undervalued submarket.

Cultural District Listing Supply

In the last 90 days, 15 listings have been made available, which means office spaces might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 13% of the available leases in the Cultural District are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.

Even though the median size is 5,720 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this area are around 27 floors. Most buildings in this area were built in 1917 and are Class B.

Cultural District Community

This area is fairly equally mixed residential and commercial. Professional services is the dominant industry in this region. Commute by public transit is the most popular way to get to work amongst Cultural District occupants. Commuting close to 30 minutes a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in Cultural District.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Cultural District.
Research