The Real Deal New York

Fairfield County office leasing faring well, while Westchester’s is ‘lackluster’: report

July 18, 2018 01:26PM

The first six months of 2018 were good ones for office leasing in Fairfield County, which saw “its best first half of the year since 2015,” per CBRE’s second quarter office market reports for Westchester and Fairfield counties, the firm said in a release. More than 1 million square feet of office space were leased in Fairfield County as of the mid-year mark, and the availability rate in Greenwich’s central business district dropped in the second quarter, an indication that “leasing activity will spill over into neighboring Stamford,” according to Tom Pajolek, an executive vice president at CBRE. Westchester County, meanwhile, had a “lackluster second quarter for leasing activity,” according to William V. Cuddy Jr., another executive vice president at CBRE, but “other economic conditions in Westchester County remain strong.” [CBRE]