Here are some major recent Greater Hartford office market leases
COSTAR
The office building at 95 Glastonbury Blvd., in Glastonbury, recorded several new leases during the first quarter of 2024.
Office vacancy rates in Greater Hartford remain elevated, although the extent of empty space in the region varies based on which data one takes into consideration.
According to brokerage firm Cushman & Wakefield’s first quarter market report, about 26.5% of office space in Greater Hartford is vacant, including over 36% of space in the Capital City’s central business district.
The region’s overall office vacancy rate improved slightly from the fourth quarter of 2023, but is above the 25.4% vacancy rate recorded in the first quarter of 2023, according to Cushman & Wakefield.
The report covers 25.2 million square feet of office space in Greater Hartford, including cities and towns to the south, north, east and west of the Capital City.
Another report from brokerage and consulting firm CBRE lists Greater Hartford’s office vacancy rate at 23.7%, and the Capital City’s central business district office vacancy rate at 22.6%.
CBRE’s report covers 320 buildings and 30.4 million square feet of office space in Greater Hartford.
Despite the elevated vacancy rates overall, there were several notable leases recorded during the first quarter of 2024, according to CBRE and Cushman & Wakefield. They included:
- USI Insurance renewed its 32,882-square-foot lease at 95 Glastonbury Blvd., in Glastonbury.
- CT Workers Compensation Commission renewed its 9,974-square-foot lease at 999 Asylum Ave., in Hartford.
- CBIZ renewed its 7,304-square-foot lease at 7 Waterside Crossing in Windsor
- Mitsubishi Heavy Industries America Inc. signed a new lease for 6,723 square feet at 95 Glastonbury Blvd., in Glastonbury.
- Verdantas subleased 6,489 square feet 213 Court St., in Middletown.
- Premier Research Worldwide leased 20,317 square feet at 77 Hartland St., in East Hartford.
- Standard Builders leased 14,073 square feet at 100 Great Meadow Road, in Wethersfield.
- Companions & Homemakers leased 10,768 square feet at 76 Batterson Park Road, in Farmington.
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