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New year will bring higher rents, panel says.

Publication: Westchester County Business Journal
Publication Date: 03-JAN-05 		Format: Online - approximately 749 words
Delivery: Immediate Online Access
Full Article Title: New year will bring higher rents, panel says.(Westchester County)(Panel Discussion)

Article Excerpt
Rents will rise at Westchester's office buildings and retail centers after years of staying steady or declining, making the new year more challenging for businesses searching for space, a panel of real estate professionals said.

Class A buildings can expect to see rents climb into the low- to mid-$30 range per square foot, from the mid-$20s to low $30s in the past few years, two panelists projected.

"If you have a solid location, your rents are increasing," said Christopher O'Callaghan, senior vice president with Albert B. Ashforth Inc.

As a result, he said, the rent gap between Westchester and Connecticut's Fairfield County will narrow in 2005: "Stamford versus. White Plains, I...

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