While the economic slowdown has caused new space to come on the market of late, the downturn has not yet convinced Fairfield County property owners to lower their asking rents, according to a number of market reports released by area brokerage firms.

For example, Kim Mowers, senior vice president of Grubb & Ellis' Stamford office, relates that despite some new space coming on the market recently, property owners are seeking rental rates consistent with first-quarter prices.

"As a result we are not seeing an overall drop in rates as one might expect," Mowers says. "Countywide average rents for Class A space are holding firm at about $37 per sf and for class B space at $25 per sf. High occupancy levels and long-term leases supported landlord's pricing."