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The Westchester County office market moved forward on two fronts during 2018. The first was a continuation of the positive absorption trend. The second was the continued demolition or repurposing of existing buildings.
The new Hudson Park complex in Yonkers is a prime example of how improving transportation infrastructure can help revitalize overlooked areas that have been difficult to develop.
The perennial appeal of Greenwich has led to a significant tightening in the Greenwich commercial business district office market.
“During my years in the industry, I witnessed first-hand how the underwriters and (catastrophe) modelers suffered from manual processes and lack of support systems,” said Pricing Platform founder Sito Sarkar.
Tom Pajolek, executive vice president at CBRE’s Stamford office, predicted that the regional market will close the year with a flurry of new leasing activity.
Caruso discusses the commercial real estate market in Fairfield County, both on its own terms and in comparison with Westchester.
Kuchma offers a preview of his latest project and his thoughts on the state of Bridgeport's commercial real estate market.
Managing Partner Christian Dalzell stated that his company holds a "positive long-term outlook on Philadelphia, which is enjoying an accelerating economic expansion."
"The town is very interested in acquiring the building," said New Canaan First Selectman Kevin Moynihan about the 28,000-square-foot property.
“I feel the market is better than the statistics show,” said Cory R. Gubner, president and CEO at RHYS. “I am very bullish."
During the past year, the sales market for office structures remained reasonably active with opportunistic buyers leading the way. Three sales deserve particular note because of their significance and what they mean for the entire marketplace.
The idiosyncrasies and challenges that define Fairfield County’s retail property market were in the spotlight at the recent Second Annual Real Estate Outlook.