Figures
Fairfield County Office Figures Q3 2024
October 9, 2024 5 Minute Read
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‒ Quarterly leasing activity totaled 520,000 sq. ft., down 7% from Q2 2024 but 26% ahead of the five-year quarterly average.
‒ Year-to-date leasing activity totaled 1.43 million sq. ft., up 34% from the same time last year.
‒ The availability rate decreased to 25.9%, down 30 basis points (bps) both quarter-over-quarter and year-over-year.
‒ Quarterly net absorption was positive 118,000 sq. ft., bringing year-to-date absorption to positive 334,000 sq. ft.
‒ The average asking rent was $36.23 per sq. ft., up 3% both quarter-over-quarter and year-over-year.
‒ Sublease space accounts for 15% of all available space in Fairfield County.