Flight to Quality in Fairfield County Office Market

STAMFORD, CT—There was some great news in the office market in Fairfield County in the second quarter, which was negated somewhat by some bad news. The office market saw a number of significant lease transactions, but also suffered a number of large space givebacks by area corporations.

In its second quarter office market report, brokerage firm Colliers International reports the market was bolstered by large transactions in the technology, hospitality, healthcare, and media sectors. However, large space givebacks muted the effect of those transactions. In fact, Colliers states that the Fairfield County market posted a negative 425,892 square feet of absorption as compared to a positive 250,208 square feet last quarter.