Fairfield County Office Market
| Average Asking Rent (Price/SF) | $36.82 |
| Availability Rate (%) | 28.1% |
| Net Absorption (SF) | -18,471 |
Steady demand around the center cores of Greenwich and Stamford offset the rise in supply in more suburban areas during the third quarter of 2021. Despite two large blocks of space coming online, Nestle’s 164,000-square-foot sublease at 900 Long Ridge Road in the Stamford non-CBD and Nuvance Health’s 142,000-square-foot direct space at 14 Research Drive in Bethel, the county’s overall availability rate remained stable from the previous quarter at 28.1%; and only 18,471 square feet was recorded as negative absorption. Demand for secondary office locations by New York City firms, mainly financial groups, continued this quarter, leading to healthy leasing volumes of 900,000 square feet. This was almost double the total tracked in third quarter 2020 and 150,000 square feet higher than this quarter’s historical average.
Download Fairfield County Office Market Report 3Q21 Download CT/Western Massachussetts Region Industrial Report Mid-Year 2021 Download Fairfield County, CT & Lower Hudson Valley, NY Industrial Market Snapshot Mid-Year 2021 Download Fairfield County, CT & Lower Hudson Valley Industrial Market Report Mid-Year 2021