Fairfield County Real Estate Market Reports

Fairfield County Office Market

Leasing activity totaled just under 2.5 million SF in 2025, reflecting a more measured pace compared with 2024 and the 10-year historical average. This slowdown largely reflected a period of strategic pause rather than a market pullback, as many occupiers carefully assessed long-term space requirements amid broader economic uncertainty. Deal activity remained concentrated in smaller spaces, with leases between 5,000 SF and 10,000 SF representing 46% of total activity, 26% above the historical average, underscoring ongoing demand among small-to-mid-sized occupiers. Fairfield County’s total vacancy ended 2025 at 24.2%, a new high relative to the pre-pandemic low of 16.3% in 2019. However, this figure overstates market weakness, as it does not yet account for 782,000 SF, including space at 120 Long Ridge Road and Merritt 7, expected to be removed from office inventory through residential conversion. Adjusting for this space lowers effective vacancy by 4.3 percentage points, to 20.3%. Pricing edged lower in 2025, averaging $37.67/SF. This does not reflect broad-based rent compression but rather a shift in the composition of available space. Larger availabilities have an outsized impact on the weighted average, so when lower-priced or vacant space becomes more prominent, it pulls the average down. Significant leasing at 400 Atlantic Street in Stamford, where ~100,000 SF was absorbed in 2025 at average asking rents in the low $60s per SF, removed a substantial portion of high-priced space from the inventory, lowering the weighted average. Similarly, in Greenwich, the absorption of premium space with asking rents in the $60–$100+ range further reduced the overall average, leaving a higher concentration of lower-priced availability that weighs more heavily on the year-end figure.