Skip to main content

Scroll Down

Market Report

Pittsburgh Retail Market Report

2Q 2023

Narrow Development Pipeline Tightens Conditions;
CBD Adjusts to Shifting Foot Traffic

Active consumers, slow development aid operations. While total employment remains short of pre-health crisis norms, headcounts in traditional office-using sectors ended the first quarter of 2023 at an all-time high. A well-compensated consumer base supported record retail spending during this three-month period, activity that should prompt expansions from the tenant side over this year’s subsequent months, despite a modest job contraction. These retailers will have to contend with a lack of speculative supply underway. As of June, the metro’s active pipeline totaled no more than 244,000 square feet, roughly 75 percent of which is accounted for. 

Related Research

Back to top