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Westchester County Office Market Snapshot Q4 2021

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With the Omicron variant surging as the year ended, many employers postponed their return to the office plans.

This has delayed the re-population of office buildings and as such, renewals continued to be a major driver of demand in Westchester County. As occupiers are planning their future space needs carefully, the timeline for new lease transactions has grown, which resulted in renewals accounting for a higher proportion of the total leasing volume. During the fourth quarter, renewals accounted for 40.7% of the total leasing volume.

 

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Westchester County Office Market Snapshot Q4 2021

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