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Insignia/ESG Reports Region's Office Availability Rates Down Sharply

STAMFORD, CT-Insignia/ESG released its year-end 2000 office availability rate figures for Westchester and Fairfield counties that showed a marked reduction in vacant office space in most major markets in both counties.

By John Jordan | Updated on January 15, 2001

STAMFORD, CT-The office availability rates in key markets in Westchester and Fairfield counties at the end of 2000 were down considerably because of intense leasing activity and significant office space absorption, according to Insignia/ESG. Insignia/ESG’s report on the Westchester County office market noted a year-end office availability rate of 11.6% for the county, down from 14.7% at year-end 1999.

Downtown White Plains was the busiest area and showed the most improvement of any market in either Westchester or Fairfield County. It sported a 15.1% rate as of Dec. 31, 2000, whereas it posted an office availability rate of 22.4% at the end of 1999. A little more than two years ago, Insignia/ESG had calculated the office availability rate in there at 30%.

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