Pittsburgh, once written off as a dying steel town, has turned into
one of the most resilient office-rental markets in the country,
resulting in a flurry of building sales as some longtime owners take
profits.
Energy companies, many Shale-related,are stoking office demand and employment is growing in such areas as
medicine, education, financial services and computer software. PNC Financial Services Group Inc., last month announced it would build a 40-story tower
"Downtown is becoming more and more attractive," says James Rohr, PNC's chief executive.
CB Richard Ellis Inc. projects that office rents in Pittsburgh will
rise an average of 7.5% this year, compared with an average of 2% for
the top 52 office markets in the U.S.
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