Fairfield County Office Figures Q3 2026

Fairfield County’s office availability rate fell to 24.1% in the third quarter, its lowest level since the first quarter of 2020. Net absorption totaled 102,000 sq. ft., the second consecutive positive quarter, lifting the year-to-date total to 255,000 sq. ft. Sublease supply drove the improvement. It fell 12% quarter-over-quarter to 852,000 sq. ft., the lowest level since the fourth quarter of 2017, while direct availability held steady at 21.8%.

New leasing rebounded to 294,000 sq. ft., up 23% from the second quarter but 26% below the five-year quarterly average. Renewals cooled from the Q2 spike to 319,000 sq. ft. Average asking rent rose 1% to $36.99 per sq. ft., the fourth consecutive quarterly increase and the highest level since the fourth quarter of 2013. Greenwich CBD set another record at $126.94 per sq. ft.

Absorption was concentrated in one submarket. Stamford non-CBD recorded 293,000 sq. ft. of positive absorption primarily due to conversion away from office use, while the other six submarkets combined for negative 191,000 sq. ft.