The largest deal by far in the NYCsuburban markets of Westchester and Fairfield (CT) counties in thefirst quarter was the WWE corporate headquarters lease deal at 677Washington Blvd. in Downtown Stamford, CT.
STAMFORD, CT—Tenants in the suburban New York City marketscontinue to flock to transportation hubs near Metro North trainstations like White Plains and Stamford, but tenant demand duringthe first quarter was spotty in both markets despite strong jobgrowth.
The job markets in both counties are strong. Westchester Countybegan 2019 with 12,992 more jobs than what was recorded one yearago. Westchester's unemployment rate continued to fall from theprevious year, posting a 100-basis point drop over the last 12months to 3.5%. Westchester's neighbor to the east, FairfieldCounty started 2019 off on a high note with non-farm employmentincreasing by 6,982 jobs over the previous 12 months and registeredapproximately 13,726 more jobs compared to the beginning of 2018.The county's unemployment rate shrunk 90 basis points from theprevious year to 3.4%.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
