Availability declines in Fairfield, grows in Westchester

Real Estate Weekly, Jan 26, 1994

Fairfield County North: Office space reductions by Union Carbide and IBM hurt the Danbury office market in 1993. Absorption for 1993 was a negative 92,167 square feet, and the vacancy rate increased from 22.1 percent in 1992 to 27.7 percent. In positive developments, Cognitronics leased 49,500 square feet of space in Danbury and Duracell announced plans to build a major headquarters facility at the Berkshire Industrial Park. MAJOR DEALS: Cognitronics, Lorad, Morganti and PHH.

The Rostenberg-Doern Corporate Real Estate Report is the most comprehensive report of its kind on the Fairfield/Westchester region office market. More than 700 multi-tenant Class A and B buildings in the Fairfield-Westchester region were surveyed. Government owned and occupied buildings, owner occupied buildings, medical office buildings and buildings under 20,000 square feet were excluded.