Fairfield County Office Market
| Average Asking Rent (Price/SF) | $36.61 |
| Availability Rate (%) | 28.5% |
| Net Absorption (SF) | -285,835 |
The Fairfield County office market continued to show mixed performance during the first quarter of 2021. Sluggish demand in some markets, combined with a rising tide of sublease space, pushed the overall availability rate to 28.5%, up from 26.5% a year ago. This is the highest level in this market’s recorded history. Leasing activity totaled 630,000 square feet, stable from totals in first quarter 2020, but down by 25.4% from year-end. Although leasing velocity is typically higher during year-end, this quarter’s level ended well below the first-quarter, five-year historical average of 810,000 square feet.
Download Fairfield County Office Market Report 1Q21 Download CT/Western Massachussetts Region Industrial Report Year-End 2020 Download CT/Western Massachussetts Industrial Market Snapshot Year-End 2020