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Fairfield County Market Reports

Fairfield County Office Market

Average Asking Rent (Price/SF) $35.91
Availability Rate (%) 26.6%
Net Absorption (SF)   119,164

Office market fundamentals in Fairfield County remained stable in 2019 despite major blocks of sublease space coming online throughout the year. WWE's 415,000-square-foot deal in Stamford's Central Business District (CBD) not only highlighted this year's leasing activity but also provided relief for more than 700,000 square feet of sublease space added to the market. This included nearly 190,000 square feet of sublease space that came online in Norwalk and 170,000 square feet in Greenwich. As a result, net absorption for the county ended the year flat, and the overall availability rate remained at 26.6%, unchanged from the prior year. As was expected, the removal of 415,000 square feet of high-priced space at 677 Washington Boulevard in Stamford caused a countywide decrease in the Class A average asking rent, from $40.24/SF to $39.11/SF.



Fairfield County Office Market Report
4Q19
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