Fairfield County Retail Vacancy Stable

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.

By comparison, the 49.8 million square foot New Haven County Retail market has a 1st Quarter 2016 vacancy rate of 6.1%.  The average asking rent of $12.38 per square foot triple net remains almost 20% below the pre-recession high reached at the end of 2008.