Research from Colliers International likened the Hartford area’s office vacancy rates to “running in place” during its Q4 2007 Real Estate Review.
South and West sector vacancies improved slightly, but vacancies dipped a little in the East and central business district areas. Hartford County overall vacancy was down slightly, closing at 16 percent. Leasing rates didn’t swing much, either, staying around the low- to mid-$20s.
As for 2008, the assessment predicted “fewer transactions, elongated marketing and decision processes, tighter underwriting policy, lower property values and high capitalization rates.”
