Westchester office market enjoys a strong Q3 with medical leasing leading the way

Medical tenants are clocking in over in Westchester, which saw a 17.5 percent increase in leasing activity from the second quarter to the third, according to a new report published by CBRE. Rental rates also increased, from $27.81 per square foot in the second quarter to $28.54 per square foot in the third quarter, Westchester Business Journal first reported. A third quarter report from Colliers International noted that medical tenants have been responsible for the lion’s share of the new deals — making seven out of the top ten biggest deals, to be precise. The biggest lease of the quarter was Montefiore Health System’s renewal and expansion of its space in Yonkers, according to a Cushman Wakefield report. [WBJ]