The Greater Hartford industrial market closed Q4 with 1,874,935 sq. ft. of positive absorption – the highest absorption seen since CBRE started tracking the Hartford industrial market in 2006.
The availability and vacancy rates both decreased significantly from 10.6% and 9.8% in the third quarter to 8.5% and 8.0%, respectively, in Q4.
New deals drove the leasing activity for Q3 2019 in the Greater Hartford industrial market as two of the largest deals of the decade were signed in addition to several smaller new leases. Ahold Delhaize signed a new lease at 1339 Tolland Turnpike in Manchester for 975,000 sq. ft. – one of the largest leases of the decade in the market.