The amount of available office space in Westchester and Fairfield counties
rose during the second quarter of 2010, according to data from RHYS’
quarterly commercial market report, released today. The increase was
higher in Fairfield, where the available space total came to 11.6 million square
feet, a 4 percent quarter-over-quarter increase, and a 13.8 percent
year-over-year increase. In Westchester, the amount of available space
totaled 7 million square feet, a quarter-over-quarter increase of less
than 1 percent. The availability of sublease space saw a 7 percent
quarter-over-quarter jump in Fairfield County, while Westchester
County saw a four percent quarter-over-quarter decline, but dove 27
percent year-over-year. There was also a trend toward smaller lease
transactions ?€” less than 10,000 square feet — in the two counties,
the report said. The few larger transactions that transpired were
mostly lease renewals and extensions. TRD