Fairfield County Office Figures Q4 2023

January 10, 2024 5 Minute Read

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Quarterly leasing activity totaled 419,000 sq. ft., up 60% from the previous quarter and on par with the five-year quarterly average.
Annual leasing activity totaled 1.49 million sq. ft., down 16% year-over-year.
The availability rate remained flat quarter-over-quarter at 26.2% but was down 110 bps from a year ago.
Quarterly net absorption was negative 16,000 sq. ft., which brought year-to-date absorption to positive 481,000 sq. ft.
The average asking rent was $35.11 per sq. ft., virtually unchanged quarter-over-quarter and down 4% from a year ago.