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Building off the momentum established in the third and fourth quarters of last year, the office market kicked off the year on a positive note, according to a JLL first quarter office report.
The WWE lease of more than 415,000 square feet was nearly 60% of all Fairfield County's 709,068 square feet of leasing activity in the first quarter. Despite the WWE's deal, the county registered 106,006 square feet in negative office space absorption in the first quarter.
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The five-year investment will include infrastructure changes by architect David Manfreddi and urban designer Gehl, a public square with tech-focused art installations by Culture Corp, a host of new restaurants and hybrid retail experiences, 5.5 million square feet of Class A office space, luxury residential towers and a second hotel.
Washington Property Co. reports the four lease deals total 14,036 square feet and leases totaling another 7,407 square feet are currently the subject of negotiations.