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Hartford County Office Figures Q3 2023

October 13, 2023 4 Minute Read

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  • Quarterly leasing activity totaled 217,000 sq. ft., up 3% from Q2 2023.
  • Net absorption was negative 39,000 sq. ft., bringing year-to-date absorption to negative 651,000 sq. ft.
  • The availability rate jumped 20 basis points (bps) from the prior quarter to 29.8%—the highest rate recorded.
  • Average asking rent was $20.54 per sq. ft., flat quarter-over-quarter and up 4% year-over-year.
  • Sublease space totals 650,000 sq. ft. and makes up 8% of all available space.