Figures
Westchester County Office Figures Q3 2023
October 10, 2023 5 Minute Read
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‒ Quarterly leasing activity totaled 122,000 sq. ft., 43% below the five-year quarterly average and down 19% from the prior quarter.
‒ Year-to-date leasing amounted to 533,000 sq. ft., down 29% from the same period last year.
‒ The availability rate fell 50 basis points (bps) quarter-over-quarter to 20.6% and is down 90 bps from a year ago.
‒ Net absorption was positive 128,000 sq. ft. in Q3, bringing the year-to-date total to positive 366,000 sq. ft.
‒ Average asking rent was $29.71 per sq. ft., virtually unchanged both quarter-over-quarter and year-over-year.