Figures
Westchester County Office Figures Q2 2023
July 12, 2023 5 Minute Read
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‒ Quarterly leasing activity totaled 150,000 sq. ft., 32% below the five-year quarterly average and 43% down from the prior quarter.
‒ Year-to-date leasing amounted to 411,000 sq. ft., up 48% from the same period last year.
‒ The availability rate fell 50 basis points (bps) quarter-over-quarter to 21.1% and is down 110 bps from a year ago.
‒ Net absorption was positive 148,000 sq. ft. in Q2, bringing the year-to-date total to positive 238,000 sq. ft.
‒ Westchester County’s average asking rent was $29.60 per sq. ft., virtually unchanged both quarter-over-quarter and year-over-year.
‒ Sublet space currently makes up 11% of all available space in the county.