Westchester County Office Market
| Average Asking Rent (Price/SF) | $28.44 |
| Availability Rate (%) | 25.1% |
| Net Absorption (SF) | 153,750 |
The Westchester County office market finished 2021 in a stable position despite news of another strand of COVID-19 spreading rapidly in the last weeks of December. Leasing activity in 2021 reached 2.0 million square feet, on par with the county’s pre-pandemic five-year annual average from 2015 to 2019. Demand this quarter reached a post-pandemic high of 542,000 square feet, enhanced by large deals signed in the East I-287 market and midsize deals in Downtown White Plains. Improved leasing resulted in positive net absorption of 153,750 square feet this quarter and pushed the overall availability rate down to 25.1%, from 25.7% last quarter.
Download Westchester Office Market Report 4Q21