StratfordPatch cites a Cushman & Wakefield report indicating a rise in Fairfield County vacancy rates. The average vacancy rate for Class A office space increased from 20.4 percent in the last quarter of 2011 to 21 percent in the first quarter of 2012. At the same time, average rent rates in Fairfield County increased from $35.74/sf in the first quarter of 2011 to $36.57/sf in the first quarter of 2012.

The overall vacancy rate in the Stratford/Shelton submarket rose from 8.8 percent in the first quarter of 2011 to 13.6 percent in the first quarter of 2012. This increase is due in part to the 174,000sf left vacant when Pitney Bowes moved from Shelton to Danbury.
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The Cushman report also notes that despite the rise in vacancy rates, the investment sales market continues to improve in this region.

Last Updated on April 28, 2012 by Ramin Seddiq