Fairfield County’s office lease environment is stabilizing—but the winners are getting more selective

By Dan Onofrio President/CEO Bridgeport Regional Business Council

Fairfield County’s office market continues to recalibrate. Cushman & Wakefield’s Q3 2025 report shows a market that’s still carrying high vacancy, but also posting signs of stabilization—especially where product, location, and the overall “place experience” are strongest.

Countywide vacancy sits at 27.3%, but the market also recorded 69,790 SF of positive net absorption in Q3 and 471,108 SF year-to-date.

Leasing, however, has slowed: overall leasing volume fell 17.4% year-over-year, and YTD leasing totaled 1.1M SF, below the county’s five-year average.

One important reason vacancy has edged down slightly year-over-year is structural: limited new supply and ongoing space conversions are helping offset weaker leasing activity.

Submarkets are diverging: Greenwich strength, Stamford softness

The report makes clear that Fairfield County is behaving like multiple markets:

Greenwich: YTD leasing more than doubled (+111.3% YOY), supported by demand for high-quality space (with Greenwich Non-CBD posting 132,670 SF of YTD leasing).
Stamford: YTD new leasing activity is down 32.5% YOY, though vacancy held steady at 29.8% by the end of Q3.

Despite slower leasing, Fairfield County’s average asking rent rose to $34.95/SF (up $0.44 YOY), driven by Class A strength (Class A rents rose $0.59/SF).

What this means for Greater Bridgeport

Bridgeport’s submarket indicators reinforce why coordinated economic development matters: 31.0% vacancy, -37,671 SF YTD net absorption, and average asking rent of $23.56/SF.

In a “selective tenant” environment, regions that can align infrastructure, housing, workforce access, redevelopment pathways, and a clear shared narrative will be best positioned to capture demand and accelerate reinvestment where older inventory needs a new plan.

BRBC’s role: aligning the region around a unified strategy

The mission of BRBC’s Regional Economic Development Committee is clear: “To create a unified regional economic development strategy that empowers the region’s governments, businesses, and residents to collaborate in the execution of successful business retention, expansion, and recruitment strategies in an effective and efficient manner.”

With representation from municipal partners, industry, and stakeholders across the region, this committee exists to reduce fragmentation—so the region can make smarter decisions, faster, with broader buy-in.

In today’s market, the strongest regions are the ones that collaborate like a single economic community. BRBC is aligning governments, businesses, and residents around a unified strategy so we can retain and grow local employers, attract new opportunities, and raise Greater Bridgeport’s visibility as an affordable place to live and work.

Housing is economic development—and it’s part of the office story

On January 27, BRBC will host a legislative breakfast on housing, a timely regional conversation following the passage and signing of Connecticut House Bill 8002 (“An Act Concerning Housing Growth”), aimed at addressing housing supply and affordability statewide.

Why it belongs in the same conversation as office leasing: employers and investment follow regions where people can afford to live and reasonably commute to their place of business. Housing is a core input to retention, expansion, and recruitment and it’s increasingly central to how places compete.

Call to action

If you care about how Greater Bridgeport competes—jobs, investment, revitalized corridors, housing choices, and smart growth—plug in:

Visit choosegreaterbridgeport.com and share it with your networks
Join the conversation at the January 27 housing legislative breakfast
Connect with BRBC to get involved in the Regional Economic Development Committee and help shape a unified, actionable strategy for our region