STAMFORD, CT-In its third quarter 2000 Market Trends Report, Grubb & Ellis Company prognosticates that the asking rental rates in Westchester and Fairfield counties may increase, but only minimally, for the remainder of this year.

“Class A office asking rental rates will likely continue to increase in both Westchester and Fairfield, but only slightly through the end of the calendar year with a lowering of availability in both counties,” notes Kim Mowers, senior vice president of Grubb & Ellis. “Absorption rates will start to ease, however, and we will experience a slowdown in leasing momentum compared to the heated activity in the first three quarters of the year.”

Mowers relates that growth among existing corporate office tenants in both markets as well as the continued expansion of the technology and venture capital sectors will keep the real estate market strong for the next six to eight months. However, he cautions that e-commerce and Internet firms will begin to put space back on the market.

“We are already starting to see a weeding out in the e-commerce field,” he says. “Successful firms will reconsider space needs, while some others will exit the market rapidly.”

Mowers concludes that despite the turbulence in the e-commerce/Internet sector, the exit of some of the largest firms in the region and some speculative construction being built, the Westchester-Fairfield region will continue to see the lowest availability rates in the last two years.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.