New Study Reveals That White Plains Doldrums Are Over

WHITE PLAINS, NY—Record-setting leasing activity thus far in 2000 has resulted in sharp declines in the office availability rate in Westchester County, NY. According to the Insignia/ESG Midyear Commercial Report released today, the countywide availability rate at the end of the second quarter stood at 12.8%, down from 16.7% a year ago.

The findings suggest that the long-troubled White Plains CBD is now one of the hottest markets in the northern New York suburbs. For the second quarter of the year, the availability rate Downtown dropped 10% from a year ago to 16.9%. Only 18 months ago the CBD posted a bloated office availability rate of 30%.

And, year to date, 1.8 million sf of office space was leased, an increase of 44% from the same period last year, according to Insignia/ESG figures.