Fairfield County Real Estate Market Reports

Fairfield County Office Market

The summer months proved to be especially slow this year. Leasing activity in Fairfield County remained subdued in Q3 2025, totaling just under 450,000 SF, more than 40% below both year-ago levels and the 10-year quarterly average. Year-to-date transaction volume reached 1.6 million SF through Q3, falling 35% below the historical average for this point, while deal count, at 254 transactions, trailed the average by 11.8%. Deal activity also remained concentrated in smaller transaction size, with an 85.8% decline in transactions between 25,001 and 50,000 SF and no deals exceeding 100,000 SF. The top third-quarter lease was a 60,000 SF renewal signed by UBS at 600 Washington Boulevard in Downtown Stamford, followed by Versant Media’s 29,234 SF sublease at 333 Ludlow Street on the waterfront. However, these deals could not match historical averages, falling short by 18%. In contrast, the Greenwich market saw notable year-over-year increases, with approximately 115,000 SF leased compared with 70,000 SF in Q3 2024. The largest lease was a 20,559 SF renewal by Libertas Funding at 411 West Putnam Avenue, followed by Industrious taking a new 17,773 SF office at 5 Greenwich Office Park. Availability rates in Stamford decreased to 27.3%, from 27.9% a year ago. Total vacancy rates, however, rose to 25.1%, up from 23.6% a year ago. This resulted from ~200,000 SF at 177 Broad St and Stamford Plaza shifting from available to vacant. Indeed.com remained in place under short-term extensions while their new headquarters at 200 Elm Street was under construction, delaying the full impact on vacancy statistics until this quarter.