Alert “06880” reader Bob Weingarten writes:
In June 2017 I drove along the Post Road from the eastern border, near Bulkley Avenue, to the western end, near Whole Foods. I counted the number of buildings — including individual offices or retail space — for lease or sale. I spotted 50 signs, just on the Post Road.
These figures were the basis of an “06880” story: “This Space For Lease.” It drew 57 comments.
Because we have been told that the economy is “so strong,” I decided to drive the same route, and again count how many buildings or individual offices were for lease or sale.
This time I spotted over 65 for lease or sale. That does not include all the new residential construction on the Post Road, such as the 94 apartments at 1177 Post Road East, or the 2 mixed-use buildings with a total of 28 apartments (some in townhouses) at 793 Post Road East.
While counting, I realized that this mix of for lease or sale buildings and offices was extremely different from 2017.
This time I spotted 2 bank buildings, a gas station, a farm market, a classic car dealer, and several large commercial buildings and retail outlets for lease or sale.
During the past 2 years many of the former for-lease buildings have been occupied. But it appears to me there is a larger inventory of space available now, with larger properties.
I have my own opinion as to the reasons — for example, higher rental rates or the economy — but other readers may have better knowledge.
The 2017 Post Road story noted that there were “10 or so others on Main Street.” I just drove from the Post Road to Avery Place on Main Street, and counted 10 buildings or retail spaces for lease.
From Avery Place to Kings Highway North I saw an additional 3 more “for lease signs.”
The same questions posed in 2017 are still relevant today: “Is something wrong with Westport’s commercial real estate market? If so, are there solutions?”
Click “Comments” below to offer answers.
Or more questions.