"I think that the Westchester County office market is doing quite well, especially considering all the concern that is out there over the economy," says Al Gutierrez, senior associate with CB Richard Ellis' Westchester office. He explains that the market has slowed down a little bit recently.

Gutierrez notes that in 1999 and 2000 there were a host of companies looking for 50,000 sf or more in the county. Now, most of the requirements out there are for companies searching for offices in the 5,000 sf to 15,000 sf range. That is not to say that there are not some large corporate office requirements studying the Westchester market for offices of 100,000 sf or more.

He says that one of Westchester's major strengths is its attractive office rental costs--$26.86 per sf countywide for the first quarter of 2001. Those lower rental costs could be a key factor in luring some major corporate requirements to the county, especially if companies are trying to reduce operating costs due to a continuing faltering economy in the months ahead, Gutierrez says.