Figures
Hartford County Office Figures Q3 2024
October 9, 2024 4 Minute Read
Looking for a PDF of this content?
‒ Quarterly leasing activity totaled 143,000 sq. ft. in Q3, down 11% quarter-over-quarter.
‒ Year-to-date leasing totaled 451,000 sq. ft.
‒ Renewal activity totaled 137,000 sq. ft. in Q3, up 99% quarter-over-quarter.
‒ The availability rate fell to 23.2%, down 10 basis points (bps) quarter-over-quarter.
‒ Net absorption was positive 25,000 sq. ft. in Q3, bringing year-to-date absorption to positive 104,000 sq. ft.
‒ Average asking rent was $20.79 per sq. ft., essentially flat quarter-over-quarter.
‒ 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.