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Q3 2021 Fairfield County Office Market Snapshot

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The anticipated post Labor Day return to the office was disrupted by the Delta variant as many companies pushed their target days further out or left them undecided. While this has delayed the re-population of office buildings as flexible work from home programs resume, transit-oriented submarkets within Fairfield County’s office market exhibited continued improvement. 

Although recording negative net absorption of 327,820 SF for the first time in 2021, it was just two large blocks that contributed to the occupancy losses. Nestle Waters added 164,300 SF to the sublease market at 900 Long Ridge Road, while 97,191 SF came online at 70 Seaview Avenue, both in the Stamford non-CBD submarket. Strong tenant demand in the Greenwich and Stamford CBD submarkets drove activity, accounting for 58.9% of the 595,028 SF leased during the quarter.

 

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Q3 2021 Fairfield County Office Market Snapshot

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