|
|
Article: Terrorist Attack Heightens Worries about Weak Pittsburgh Real Estate Market.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- September 16, 2001
CopyrightCOPYRIGHT 2001 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
By Dan Fitzpatrick, Pittsburgh Post-Gazette Knight Ridder/Tribune Business News
Sep. 16--Even before last week's terrorist attacks, Pittsburgh's commercial real estate market was slowing.
Downtown office vacancy rates, according to Grubb & Ellis Co., were as high as they have been since 1996, and suburban office buildings were as empty as they have been in a decade. New construction was slowing, bids for new projects were getting more competitive, companies were delaying decisions on new space, and rents were dropping on some suburban office buildings.
Now some worry that the devastation in New York City and at the Pentagon will worsen the ...