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Fairfield County Market Reports

Fairfield County Office Market

Average Asking Rent (Price/SF) $37.12
Availability Rate (%) 26.2%
Net Absorption (SF) 78,796

Fairfield County's office market finished 2017 with mixed results, as large deals enhanced demand, but additional blocks of space continued to cloud an already burdened market. Throughout the year, the county witnessed some of the last traces of the financial crises, as additional large blocks of space came online. These included four blocks greater than 100,000 square feet, which had a combined total of 854,000 square feet. Although twice the amount of space was returned in 2016, this year's new offerings kept vacancy on high ground and caused occupancy to retract once again. Overall availability ended at 26.2%, 1.2 percentage points higher than in the prior year. Occupancy retracted by 497,921 square feet in 2017. While robust leasing in the second half of the year led the market to gain 309,741 square feet, a loss of 807,662 square feet during the first half eclipsed all subsequent gains.

Fairfield County Office Market Report
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