The vacancy rate within the 47.8 million square foot Fairfield County retail market is stable at 4.7% as of the 1st Quarter 2016, and remains below the 10 year average vacancy rate of 5.3%. The average asking rent is $29.04 per square foot triple net, which is within 2% of the pre-recession high of $29.75 per square foot reached in the 3rd Quarter 2008.
Chris Kerin and David Herbst will be among the presenters at University of Connecticut’s Annual Assessor’s School held at the Storrs campus in the beginning of June. The School offers courses approved by the CCMA Committee and advanced CAAO workshops.
Granoff Architects, a leading design firm in Greenwich, purchased the former CL&P building for its new corporate headquarters. Located at 330 Railroad Avenue in Greenwich, the 30,585 SF building was purchased in April for $8.3M.