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Fairfield County Market Reports

Fairfield County Office Market

Average Asking Rent (Price/SF) $36.51
Availability Rate (%) 26.4%
Net Absorption (SF) -22,585

The bifurcation between well-positioned, highly amenitized buildings and antiquated corporate-style campuses in suburban locations intensified in 2018, as the pace of office leasing by large occupiers slowed considerably. This year, more decision makers opted to move their companies into newer, more efficient buildings while taking smaller footprints. Despite higher occupancy costs, buildings in the Central Business District (CBD) and other key locations where a mixed-use ecosystem is growing outperformed the competition because of their proximity to transportation and urban amenities. One example of this trend was Factset's headquarters move to 45 Glover Avenue in Norwalk. Though the company reduced its footprint by 14.0%, they were able to move into newer space with better quality, environment and conveniences.



Fairfield County Office Market Report
4Q18
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