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The Westchester County commercial real estate marketplace continues its progression toward modernization and becoming stronger from an economic and occupancy perspective.
Cushman & Wakefield has been named excusing leasing agent for the 3,000 square feet of ground-floor retail space at the apartment development at 165 Huguenot St.
The county’s office market saw about 249,000 square feet of new leases and renewals in the second quarter, according to a quarterly market report from CBRE Group Inc.
The property consists of a 57,870-square-foot, four-story brick building built in 1928 with an attached parking garage on 0.64 acres.
Growth in asking rents is strongest in the White Plains Central Business District, where the average asking price of $34.84 per square foot is up 7 percent from last year’s first-quarter numbers, according to CBRE.
A panel of landlords and developers at the annual BOMA luncheon said 2017 beat projections for the local commercial real estate market, but cautioned about the year ahead.
Westchester County’s office market slowed a bit from early 2017 highs in its final quarter, according to market analysts.
One developer described the companies interested in the village job as the "envy of every community from Stamford to Manhattan.”
A major lease renewal and expansion by Montefiore in Yonkers led a solid quarter in Westchester's office market.
A Cushman & Wakefield team of Steven Baker and Adam Klimek represented the owner, MCP II Wright Street LLC, an affiliate of Marcus Partners, while Dave Fugitt and Bruce Wettenstein of Vidal/Wettenstein and CBIZ’s Chicago team jointly represented the tenant.
The company is now representing 187 Danbury Road in Wilton, a 137,000-square-foot property offering 30,000 square feet of available space, and 200 Connecticut Ave. in Norwalk, which covers 126,500 square feet and has 45,000 square feet of available space.