While statistics in some cases varied widely, reports released by Cushman & Wakefield of Connecticut and CB Richard Ellis on Fairfield County's office market stated that the county's rate of vacant space in the third quarter of this year had fallen from rates posted a year ago.
CBRE calculated that Fairfield County's overall availability rate dropped from 18.3% a year ago to 16.9% at the end of the third quarter this year. C&W, on the other hand, stated that the county's office vacancy rate dipped slightly from the 20.3% posted just three months ago to 20% at the end of the third quarter of 2003.
"There was very little change in vacancy levels from the second quarter of 2003," says Michael B. Gordon, director of business development for Cushman & Wakefield. "The most significant changes occurred in the Greenwich and South Central submarkets."
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
