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Rents in Most Westchester and Fairfield Markets Are on the Rise

GREENWICH-Newmark & Co. Real Estate released fourth quarter asking rental rates for office space in Westchester and Fairfield counties, which showed most major markets reporting hikes in rents due to pent up demand for space.

By John Jordan | Updated on January 25, 2001

GREENWICH-In its analysis of the Westchester and Fairfield County office markets, officials with Newmark & Co. Real Estate say that, despite some signs of a slowdown, both markets still look strong entering 2000. At year end, asking rents in Fairfield County rose for the seventh consecutive quarter to $28.38 per sf, up from $27.62 per sf in the third quarter. The Greenwich area saw average asking rents soar from $41.42 per sf to $42.73 per sf for the fourth quarter 2000.

Newmark officials say that despite ongoing rental growth, Fairfield County’s office market is showing some signs of a slowdown taking hold.

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