On average, listings lease in the $30's per square foot per year. The Newfield - Westover - Turn of River region is experiencing a decrease in rates. In the last 3 months, the median rate fell $6 per sqft per year. That's a 15% decline in rent.
Compared to the rest of the Fairfield market, the Newfield - Westover - Turn of River region has lower rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 12 listings have been posted online, which means new listings might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 17% of the office spaces in the Newfield - Westover - Turn of River are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 12,670 sqft, there are still 0 listings below 2,000 sqft. Most properties in this market are around 3 stories. Most buildings in this market were built in 1971 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Education is the dominant industry in this region. Commute by bike is the most popular way to get to work amongst Newfield - Westover - Turn of River residents. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.