Real Estate Lawyer: Vacancy Rate In Downtown Pittsburgh Is Close To 20%, Up From 5% In 2013
By: KDKA-TV News Staff
PITTSBURGH (KDKA) -- Downtown Pittsburgh, like all other urban centers, has taken a hard hit from the pandemic.
It's meant fewer people coming into offices, cultural events canceled and fewer people shopping and dining in town.
During the taping of the Sunday Business Page, a real estate lawyer told Jon Delano the downtown vacancy rate is now close to 20%, up from just 5% percent in 2013.
"The sector that has given back the most space in the pandemic by leaps and bounds is the technology sector," said Kirk Burkley. "So tech companies have figured out that they can have most of their employees work from home or work from remote offices that they might scatter around the region and so disperse them out from their downtown core."
Kirk Burkley, though, says his firm just signed a long-term lease to stay downtown, and he's optimistic that the worst is over.
Watch Jon's full interview on the Sunday Business Page on KDKA's Sunday Morning News.
