Westchester office rental rates rise
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- January
- 23
Overall average asking rents for commercial real estate in Westchester County climbed slightly in 2006 despite a slight increase in availability, CB Richard Ellis reported.
The overall average of $27.20 per square foot was up $1.12 from a year earlier. The eastern part of the county saw the highest average asking rents, at $28.83 a square foot, while the southern part of the county saw the lowest average, $24.15.
A number of high-profile tenants returned office space to the market last year, the brokerage reported:
• Ameriquest Capital Corp.’s 532,000 square feet at 333 Westchester Ave. and 44 S. Broadway in White Plains;
• BAE System’s 245,000 square feet at 1 Ridge Hill Road in Yonkers;
• SBC Communications’ 81,000 square feet at 1565 Front St. in Yorktown;
• Lillian Vernon’s 53,000 square feet at 445 Hamilton Ave. in White Plains;
• Taro Pharmaceuticals USA Inc.’s 93,000 square feet at 3 and 5 Skyline Drive in Hawthorne.
IBM Corp. sold 1133 Westchester Ave. in White Plains to RPW Group of Rye Brook, returning to the market 471,000 square feet the company had once used there.
This entry was posted
on Tuesday, January 23rd, 2007 at 6:25 pm by Jerry Gleeson.
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