Fairfield County Real Estate Market Reports

Fairfield County Office Market

Leasing activity totaled just under 1.2 million SF in the first half of 2025, marking a 25% decline from both midyear 2024 and the 10-year historical average of 1.6 million SF. The slowdown could reflect a combination of limited availability of quality space in core CBDs and a more cautious approach from occupiers. That said, leasing has been active in areas like the Greenwich Non-CBD and Norwalk. Greenwich Non-CBD led demand in the first half of 2025, driven primarily by renewal activity, which accounted for 56% of the submarket’s total volume. The largest deal was a renewal by Lotus Infrastructure for 24,027 SF at Greenwich Office Park. Meanwhile, Norwalk experienced an unusually active first half, with just over 200,000 SF leased across 19 deals, 18.9% above the 10-year historical average. However, consistent with broader market trends of corporate rightsizing and a continued flight to quality, many of these deals involved footprint reductions, offering limited relief to Norwalk’s overall occupancy levels. Deal volume also skewed smaller, with just one transaction exceeding 50,000 SF: a renewal by Cummings & Lockwood at 6 Landmark Square in Stamford. Leasing activity year-to-date has been largely driven by transactions in the 5,000 to 10,000 SF range, while larger deals have remained limited. The total vacancy rate fell to 23.2%, from 23.8% in the previous quarter. The availability rate, which include both vacant properties and those that are still occupied but available for lease, decreased to 27.0%, from 27.3% in the previous quarter. Both vacancy and availability rates remained stable from a year ago.