Westchester & Fairfield County Business Journals

Choyce Peterson Inc., a full-service com- mercial real estate brokerage firm in Nor- walk with a specialization in tenant repre- sentation, recently announced the release of its 25th semi-annual Lower Fairfield County Office Space Availability Poster. The full-size poster depicts silhouettes of 96 buildings with a total inventory of 18.2 million square feet and tracks changes in office space availability from Year-End 2021 to Mid-Year 2022 in larger, primari- ly multi-tenanted Class A office buildings in Stamford, Norwalk, Greenwich and Westport. The study illustrates the ab- sorption and give-back of direct and sub- lease space, as well as overall availability statistics.

“Three of the four submarkets (Stamford, Westport, Norwalk) had an increase in availability, with Greenwich being the only market to decrease,” said John P. Hannigan, co-founder and a principal at Choyce Peterson. “Large blocks of avail- able space dominate the market. Of the 96 buildings surveyed in the four submar- kets, amazingly 10 buildings in Stamford and Norwalk (five each) comprise 42% of the overall availability. Interestingly, in the two smaller submarkets of Greenwich and Westport, there is more sublease space available than direct space.

“... Statistics reflect the ongoing trend where companies are continuing to lease space for collaborate work and meetings but allow for flexible work- from-home schedules, which most often leads to a smaller office space footprint,” said Hannigan.

To order a copy of Choyce Peterson’s comparative Silhouette Poster, call 203- 356-9600 or email info@choycepeterson. com.

Choyce Peterson, a full-service commercial real estate brokerage and consulting firm with offices in Norwalk, and Rye Brook, was founded in 1997 and has negotiated millions of square feet of transactions in 42 states and Canada.