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Fairfield County Market Reports

Fairfield County Office Market

Average Asking Rent (Price/SF) $36.64
Availability Rate (%) 26.0%
Net Absorption (SF) -267,149

The Fairfield County office market entered the slow lane during the first quarter of 2018, as total occupancy lost 267,149 square feet, and availability increased slightly by 30 basis points from a year ago to 26.0%. Although new lease transactions, which totaled 645,000 square feet, showed a year-over-year increase of 31.4%, gross leasing activity registered only 786,675 square feet, 17.5% lower than the gross leasing volume recorded in the first quarter of 2017 and 12.6% lower than the total reached last quarter. Renewal activity slowed this quarter, with transactions totaling less than 150,000 square feet. This was a decrease of 66.7% from first-quarter 2017 and 42.4% from year-end 2017.

Fairfield County Office Market Report
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