Building Owners and Managers Association of Westchester holds annual state of the market luncheon
GHP Office Realty; Brian Van Riper, Robert Martin Co.; Mark Stagg, Stagg Group; and Chris O’Callaghan, RM Friedland.
White Plains, NY More than 100 commercial property owners and brokers were on hand for the annual state of the market luncheon presented by the Building Owners and Managers Association of Westchester (BOMA). The event was held January 15 at 360 Hamilton Auditorium.
The panelists included: Andrew Weisz, president, RPW Group; Mark Stagg, president, Stagg Group; Chris O’Callaghan, managing director, RM Friedland; and Brian Van Riper, director of construction & project management, Robert Martin Company. The panel was moderated by Bill Mooney, executive vice president, PCSB Bank.
The meeting discussed the commercial and residential real estate market trends in Westchester County. Key points included the medical sector’s growth, with New York-Presbyterian and White Plains Hospital expanding, and law firms seeking new spaces to attract talent.
Residential development emphasized workforce housing. Industrial logistics spaces remain strong, with a 97% leased portfolio and growing rents. The discussion also highlighted the impact of repurposing office spaces, the challenges of ground-up development, and the need for streamlined approval processes. The importance of transit-oriented development and the interconnectedness of residential, commercial, and industrial sectors were also noted.