Norwalk, CT July 26, 2017 - Choyce Peterson, Inc. (www.choycepeterson.com), a commercial real estate brokerage and consulting firm which specializes in representing tenants, announced today the release of the 15th semi-annual version of its Silhouette Study in the form of a full size poster, which graphically illustrates changes in office space vacancies from year-end 2016 to mid-year 2017 in larger, primarily multi-tenanted Class A office buildings in Stamford,Greenwich and Norwalk. This current edition uses comparative building silhouettes to show these changes, as well as total vacancies of the selected buildings located in each of the three municipalities.
John Hannigan, Principal of Choyce Peterson, stated, “For the first time in years, the total vacancy rate of the surveyed buildings in each city/town has increased. We are seeing large blocks of space now available in historically well occupied buildings.”
In each of the three municipalities there is a particular submarket where the vacancy rate has increased dramatically over the past six months:
· Greenwich: in the seven buildings located within a ¼ mile of the train station, the vacancy rate was 6% one year ago and is now 16.31%
· Stamford: the four building, 990,000sf Stamford Plaza complex on Tresser Boulevard has experienced a significant jump from a 12% vacancy one year ago to 28.71% today
· Norwalk: vacancies on the Route 7 Corridor in and around the Merritt 7 Corporate Park have increased from 8% one year ago to 24.35% today, as a few large occupants have consolidated space
Alan Peterson, Principal of Choyce Peterson continued, “While the market’s year-to-date performance has been discouraging, our optimistic outlook for the second half of the year is bolstered by several large companies looking to expand within our market.”
To order a copy of Choyce Peterson’s comparative Silhouette Poster, please call 203-356-9600 or email firstname.lastname@example.org.
About Choyce Peterson
Choyce Peterson, Inc., a commercial real estate brokerage and consulting firm which specializes in tenant representation, was founded in 1997 and has offices in Norwalk, CT and Rye Brook, NY. For companies located in Fairfield and Westchester counties, Choyce Peterson has negotiated millions of square feet of leasing transactions locally and in 42 states and Canada. The Choyce Peterson process delivers comprehensive and creative real estate solutions to ensure clients derive maximum value from their real estate decisions.