Highmark leasing 5 floors of their building as Downtown market continues to take hits

Photo credit Jeff Swensen/Getty Images for (RED)

Highmark is putting some of its office space on the market.

The Post-Gazette reports the health care giant is giving up five floors of space in its headquarters at its signature building at Fifth Avenue Place.

It plans to lease out up to 145,000 square feet in the 31-story skyscraper it owns at Stanwix Street and Fifth Avenue.

Highmark now only operates in 21 of the buildings floors now as they reorganize their space.

This could have a negative impact on the Downtown market, with so many companies having available vacant spaces, partially due to a large amount of at-home workers.

Analysts say a lot of companies are re-evaluating their space needs, particularly with so many people still working from home since the pandemic.

There is currently about 4.7 million square feet available for rent downtown, as landlords are bending over backwards with offers and allowances just to keep tenants and leases.

Featured Image Photo Credit: Jeff Swensen/Getty Images for (RED)