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Avison Young Releases Q4 2022 Fairfield County Office Report
![Avison Young Releases Q4 2022 Fairfield County Office Report](https://www.avisonyoung.ca/documents/92230/0/fairfield+2+%281%29.jpg/f56528a5-9bd2-ba28-aa48-b136e5f0ba86?t=1673548023239)
Quarterly report reveals office market trends, including record sales volume and high return-to-work rates in Q4 2022
Norwalk, CT – Avison Young today released its Fourth Quarter 2022 Office Market Report for Fairfield County. The report indicates that $634 million in sales volume was transacted in 2022, averaging at $355 per square foot, which is a record high for both metrics, and that occupancy loss remains steady, at only -0.4% in 2022.“Office visitor volumes are up, we’re currently at 134% of where we were at the same time last year, and we’re outpacing the rest of the noted office markets in the Northeast – combined with record-making sales volumes and 2.2% increase in nonfarm jobs, this is a key indicator that optimism in the office market is here and investors continue to be interested in our area,” said Sean Cahill, Principal and Managing Director of the firm’s Fairfield/Westchester office.
The record sales volume and average pricing for 2022 were driven by Greenwich, Westport, and New Canaan registering the highest pricing and accounting for almost half of the transactions in 2022 above 20,000-sf.
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2021 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 10 consecutive years.
Media Contact:
Avison Young is a 2021 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 10 consecutive years.
Media Contact:
- Nathan Reyna, Media Relations Specialist, Midwest & Northeast: +1.972.533.1396
- Download 2022 4th Quarter Fairfield County Office Market Report
- Sean Cahill, Principal & Managing Director, Chicago: +1.203.614.1264