Figures
Hartford County Office Figures Q1 2024
April 9, 2024 7 Minute Read
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‒ Quarterly leasing activity totaled 146,000 sq. ft. in Q1, down 19% quarter-over-quarter.
‒ Renewal activity totaled 95,000 sq. ft. in Q1, down 23% quarter-over-quarter.
‒ The availability rate adjusted to 23.8%, down 380 basis points (bps) quarter-over-quarter.
‒ Net absorption was negative 60,000 sq. ft. in Q1.
‒ Average asking rent was $20.71 per sq. ft., flat quarter-over-quarter, and year-over-year.
‒ Inventory adjustments were made to update the Hartford County office market to reflect CBRE Research standards of tracking Class A and B office buildings that have rentable building area of 20,000 sq. ft. or greater.