Figures
Fairfield County Office Figures Q3 2023
October 10, 2023 5 Minute Read
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‒ Quarterly leasing activity totaled 263,000 sq. ft., down 18% from Q2 2023 and 38% behind the five-year quarterly average.
‒ Year-to-date leasing activity totaled 1.07 million sq. ft., down 19% from the same time last year.
‒ The availability rate decreased to 26.2%, down 120 basis points (bps) from Q2 2023 and down 80 bps from a year ago.
‒ Quarterly net absorption was positive 473,000 sq. ft., bringing year-to-date absorption to positive 497,000 sq. ft.
‒ The average asking rent was $35.13 per sq. ft., down 2% from the prior quarter and down 1% from one year ago.