Search
 

Brokers Put Positive Spin on Higher Vacancy Rates in CT

STAMFORD-Chief commercial office brokers at area brokerage firms, while acknowledging the ill effects of the economic slowdown on the Fairfield County office market, stress the region is not that bad off, with asking rents on track and tenants continuing to play ball.

By John Jordan | Updated on August 01, 2001

STAMFORD-Although the office vacancy rates in Fairfield County’s key markets are on the rise due to lower demand, the new space on the market has helped ease tight market conditions, area brokers contend.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.