In this brief overview of the Fairfield and Westchester County retail real estate markets, CoStar data indicates a slight softening in Westchester, as total availability ticked up and asking rents moved down over the past year. In contrast, Fairfield saw some strengthening, with availability declining and average asking rents rising. Read More
While researching construction and development pipelines in southern Westchester, we came across a very useful interactive map by The Westchester County Planning Board (“WCPB”) in conjunction with ArcGIS. Read More
Westchester County has an estimated 50 million square feet of total retail space for its 961,000 residents, a ratio of 52 square feet per capita. This ratio is in keeping with the United States average, although Westchester County retail tends to be in smaller centers. Read More
The roughly 80 million Millennials – a generation even larger than the Baby Boomers – were born between 1980 and 2000. Now 15-35 years old, Millennials are just beginning to reach their peak spending years: building careers, setting up new households and having families. Due to their sheer numbers and their stage in life, Millennials (also known as Generation Y) are expected to comprise almost one-third of retail sales by 2020. Read More
This general overview of the retail market in the Westchester County and Fairfield County is the first in a series of reports which will explore trends, changes and opportunities in retail and how those trends are affecting real estate use and investment.