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Westchester County Market Reports

Westchester County Office Market

Average Asking Rent (Price/SF) $26.86
Availability Rate (%) 21.3%
Net Absorption (SF)   30,025

The Westchester County office market remained relatively quiet through the first quarter of 2019, yet the market continued its gradual shift toward tighter conditions. The county's overall availability rate showed a slight year-over-year decrease of 0.5 percentage points, from 21.8% to 21.3%. Rental rates remained stable, growing marginally by 0.3% to $26.86/SF. Total net absorption finished with modest gains of 30,025 square feet. In terms of demand, leasing activity totaled 440,000 square feet, on par with first-quarter 2018 totals but 11.8% lower than year-end 2018's total.

Westchester Office Market Report
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