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Westchester County Market Reports

Westchester County Office Market

Average Asking Rent (Price/SF) $26.66
Availability Rate (%) 21.1%
Net Absorption (SF) 191,700

Westchester County's office market continued its positive momentum in the third quarter of 2018. Nearly 450,000 square feet of leasing activity was completed by the end of the quarter, up 35.1% from the previous quarter. Two renewals highlighted total leasing activity this quarter. In the White Plains Central Business District (CBD), Towers Watson recommitted to its 47,000-square-foot space at 44 South Broadway, while in the Southern market, Optimum renewed its 38,900-square-foot lease at 6 Executive Plaza in Yonkers. This quarter marks the second year of occupancy gains for Westchester, which has realized more than 900,000 square feet in positive net absorption since year-end 2016, of which 300,000 square feet was reached this year.



Westchester Office Market Report
3Q18
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