The Real Deal New York

Stamfords pick up the slack in the Fairfield County office market

January 31, 2018 06:35PM

A strong close to 2017 for the Fairfield County office market was a decided improvement from the sluggish first half of 2017, with approximately 1.5 million square feet of leasing activity by financial services firms in the fourth quarter, a CBRE report found. Availability rates dropped to 24 percent from the third quarter, while average asking rents slipped slightly to $31.59. Strong quarters in Greenwich and the Stamford business district, which accounted for 34.4 percent of the leasing in the fourth quarter, counteracted slower pace in the rest of the county. [CBRE]