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FMB Reports Area Vacancy Rates Increased Slightly

WHITE PLAINS-FMB reports that office vacancy rates in Westchester and Fairfield counties inched up slightly in the first quarter of this year, not as badly as reports of a slowdown might have led one to expect.

By John Jordan | Updated on March 29, 2001

WHITE PLAINS-Office vacancy rates in key markets in Westchester and Fairfield counties rose slightly in the first quarter of 2001, according to FMB Real Estate Services LLC. According to Frank Bocccanfuso, principal broker of FMB Real Estate, the vacancy rate for Westchester County rose just 0.42% from year-end 2000 to 13.38%. While Fairfield County saw a larger increase in its overall office vacancy rate, the jump was minimal (1.47 percentage points) from three months ago to 10.23%.

Other data from the FMB Report shows the direct vacancy rate for Stamford is 6.95% and in Greenwich the direct vacancy rate is just 2.22%. In Downtown White Plains, the direct vacancy rate stands at 14.82% for the first quarter 2001. Several years ago, the Downtown White Plains vacancy rate, according to some area brokerage firms, was 30%.

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