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Office leasing activity during 2019 in Westchester County rose about 8.4% over the level seen in 2018, while dropping about 15% in Fairfield County,...
There still is good news to be found within the market even though some numbers are down.
Two newly released reports on the Westchester office market put activity in a positive light.
The Greenwich and Stamford CBD zones, which accounted for 73.7 percent of the first quarter’s leasing activity
Tim Rorick at NKF noted an increased demand by smaller tenants for "boutiquey office buildings" Norwalks' SoNo neighborhood.
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.
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.
“I feel the market is better than the statistics show,” said Cory R. Gubner, president and CEO at RHYS. “I am very bullish."
Fairfield County’s office market saw 611,000 square feet in leasing activity during the first quarter of this year, according to a new report issued by CBRE Research.
The proposed 10,000-square-foot building from Keeler Markwood Group would target medical tenants through its proximity to White Plains Hospital.
Deals for spaces under 5,000 square feet continued to dominate Westchester office leasing in the first quarter.
The Fairfield County commercial office market took a small step back in the fourth quarter as the vacancy rate increased and average asking rental rates were flat, according to a new report.