Westchester County’s commercial real estate market ended 2019 in a strong position. But at the start of 2020, the news of the pandemic was already being heard, culminating in a complete shutdown of all business in mid-March.
Approximately 300,000 square feet of leasing was tracked in Westchester County during the first quarter of 2020, which was down 37.6% year over year and 46.2% from Q4 of 2019. PepsiCo vacated 376,000 square feet at 1111-1129 Westchester Ave. in White Plains, where the beverage company had done a relatively short-term lease to house its employees while it was undergoing a major renovation of its headquarters in Purchase.
