Banking and finance tenants have become predominant in the Fairfield County office market

• The Fairfield County office market has experienced significant changes since the onset of the pandemic, leading to a notably different outlook on the types of tenants occupying space.

 

• One of the most notable shifts involves tenants in the banking, finance, insurance, and real estate sectors. Prior to the pandemic, these industries accounted for nearly a quarter of the space leased. However, since the onset of COVID-19, they have occupied nearly half of the leased space.

 

• Another key observation is the decline in occupancy by media, PR, telecom, and entertainment tenants, from 27% pre-COVID to just 5% post-COVID. This trend reflects the adaptability of companies in these sectors to remote work in a post-pandemic environment.

April 3, 2024

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