Pittsburgh Retail Market Report

With Pittsburgh’s outlook on the rise, inner ring gains momentum. Vacancy has fallen 90 basis points since early 2021, supported by yearly deliveries of less than half and employment growth more than double their respective 2014-2019 averages. Greater Downtown availability also fell at least 110 basis points in both 2023 and 2024. This momentum should carry forward, as the city plans to renovate public spaces and add nearly 1,000 new or renovated apartments as part of its revitalization efforts. The Golden Triangle and Strip District should continue to be focal points for leasing activity, though demand is also increasing in adjacent neighborhoods to the north and east. This year, Dick’s Sporting Goods leads the charge for scheduled move-ins with two locations totaling nearly 300,000 square feet. The metro also has plans for its first-ever Bass Pro Shops, set to open next year in Bridgeville. Alongside move-ins across the metro from retailers like Dollar General and Enterprise Rent-A-Car, this indicates confidence in Pittsburgh’s long-term prospects among nationally branded retailers.