Read
Fairfield County Office Figures Q1 2023
April 10, 2023
Looking for a PDF of this content?
‒Quarterly leasing activity totaled 484,000 sq. ft., up 8% from Q4 2022 and 4% ahead of the five-year quarterly average.
‒Year-to-date leasing activity was down 11% from the same time last year
‒The availability rate fell to 26.7%, down 60 basis points (bps) from Q4 2022 but up 10 bps from a year ago.
‒Quarterly net absorption was positive 273,000 sq. ft., driven by large space withdrawals in Central Fairfield.
‒The average asking rent was $36.05 per sq. ft., falling 2% quarter-over-quarter but up 5% from one year ago.