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Average asking rents in Westchester during the third quarter of 2019 dipped slightly from the same period last year; the drop of 3.7% was due to comparatively expensive space previously having been leased or otherwise removed from the market this year, according to CBRE.
FASNY would keep the 28-acre portion of the property designated for the school and playing fields and also the 51-acre section of the property where a nature conservancy would be maintained.
About 1.2 million square feet of vacant space could be removed from the market if a proposal to turn the former IBM campus in Somers into a STEM-focused private high school is finalized.
“We’re finding that since we can offer 200,000 square feet, 100,000 square feet, you can’t find that type of inventory in central Westchester anymore,” said William V. Cuddy Jr., CBRE’s executive vice president in Stamford.
The event will also feature a "Westchester Growth Strategy" panel on regional trends, the association's gigabit internet initiative and housing for millennials and the county's workforce.