Fairfield County office properties see continued decreases in availability rate
- From Q1 2023-Q1 2024, class A office buildings in Fairfield County saw a 260-basis point (bps) decrease in the availability rate. Meanwhile, the overall market dropped by 220-bps and class B/C properties dropped by 200-bps.
- Unsurprisingly, the class A availability rate saw a more significant drop than the overall Fairfield market as tenants continue the flight to quality in which they’re choosing higher-class space despite the higher rents that come with it. This trend was continued from Q1 2024-Q1 2025, as the class A availability rate dropped by 140-bps compared to the 120-bps drop seen by the overall market.
- As the amount of available class A space drops, tenants will shift focus to the remaining class B/C product that’s available. Additionally, landlords who invest in new amenities and/or above standard tenant instillations will be able to raise rents and lower concessions in those B & C buildings that were previously viewed as subpar compared to class A.
May 15, 2025
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US-CT-FLDWCH Fairfield / Westchester