C & W report: Westchester fared well in second quarter.According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the midyear mid·year n. 1. The middle of the calendar or academic year. 2. a. An examination given in the middle of a school year. b. midyears A series of such examinations. 2001 real estate report issued by the Research Consulting Services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.) service - work done by one person or group that benefits another; "budget separately for goods and services" Group of Cushman & Wakefeld, the Westchester market continues to fare well this quarter, with overall vacancy rat at 12.1% -- a sizable siz·a·ble also size·a·ble adj. Of considerable size; fairly large. siz  a·ble·ness n. decrease compared to last year's 15.1%. Leasing activity has remained strong this year, with a total of 1,050,826 SF leased. Pepsi Bottling Group Inc., with its renewal of 380,000 SF at its Somers headquarters, was one of the most significant of the transactions. Other companies continue to relocate re·lo·cate v. re·lo·cat·ed, re·lo·cat·ing, re·lo·cates v.tr. To move to or establish in a new place: relocated the business. v.intr. to Westchester, as well. The largest deal this year so far is the 55,000-SF MetLife transaction at White Plains Plaza. Another substantial transaction involved Reuters America, Inc.'s decision to move from Stamford to White Plains, taking 42,371 SF at 44 South Broadway in White Plains. The vacancy rate in the White Plains Commercial Business District is 14.8%, a decrease from last year's 19.7%, while the White Plains Non-Commercial Business District holds at 16.4%. In general, White Plains is doing well this year when it comes to significant lease transactions. Unlike 2000, when high tech firms comprised a large share of commercial leasing, the list of new tenants for 2001 represented a variety of companies. Major lease transactions concluded during the first half of the year included 36,789 SF for Trigen Energy Corp. at 3 Barker barker a term for an animal that does not usually bark which makes a violent respiratory effort, often during a convulsion, accompanied by a sound which roughly resembles a dog's bark. Ave. in White Plains; 35,291 SF for Petals, Inc. at 155 White Plains Road in Tarrytown; 32,900 SF for Bridge.com Inc. at 115 Stevens Ave. in Valhalla; 32,339 SF for Metro Media Fiber Network Services at 360 Hamilton Ave. in White Plains; 31,443 SF for Austin, Nichols Austin, Nichols & Company, Inc. USA, is a distilling company producing several brands of beverages, including the Wild Turkey whiskeys. External links
"Relocations are definitely a factor in Westchester County," says Kenneth M. Krasnow, regional managing director of Cushman & Wakefield's Westchester and Connecticut operations. |
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