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Westchester County Office Figures Q1 2023

April 10, 2023 2 Minute Read

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Quarterly leasing activity totaled 295,000 sq. ft., up 26% from the prior quarter and 34% above the five-year quarterly average.
Year-to-date leasing was up 168% from the same period a year ago.
The availability rate decreased 70 basis points (bps) to 21.6% quarter-over-quarter and was down 80 bps from the same period last year.
Quarterly net absorption was positive 106,000 sq. ft., driven by limited space coming to market and office space withdrawals.
Westchester County average asking rent was $29.70 per sq. ft., virtually unchanged both quarter-over-quarter and year-over-year.