Q2 2012 Hartford, Connecticut Office Property Sales Analysis

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Q2 2012 Hartford, Connecticut Office Property Sales Analysis


There has been only one small office property investment transaction that meets Transaction Analytics criteria in the past four quarters, and just two in the past seven.* In April, an 89,792-square-foot building on Silas Deane Highway in Wethersfield sold for just $2 million ($22 psf). Cushman & Wakefield, however, reports that with an occupancy rate of 98%, “CityPlace I, the tallest building in Connecticut, sold for $113 per-square-foot to CommonWealth REIT. At 878,774 square feet, this is the largest sales transaction reported in the Central Business District since State House Square sold five years ago.”