Fairfield County Office Figures Q2 2024

‒ Quarterly leasing activity totaled 561,000 sq. ft., up 60% from Q1 2024 and 36% above the five-year quarterly average.

‒ Year-to-date leasing reached 911,000 sq. ft., up 13% from the same time last year.

‒ The availability rate decreased to 26.2%, down 100 basis points (bps) from Q1 2024 and down 120 bps from a year ago.

‒ Quarterly net absorption was positive 375,000 sq. ft., bringing year-to-date absorption to positive 216,000 sq. ft.

‒ The weighted average asking rent was $35.30 per sq. ft., flat quarter-over-quarter but down 1% year-over-year.

‒ Sublease space currently makes up 19% of all available space.