Landlords, Lenders Grapple with Hartford’s Struggling Office Sector

According to the Hartford Business Journal, M&T Bank is attempting to sell a $28.25 million mortgage loan secured by the 340,247-square-foot Goodwin Square office tower at 225 Asylum St. The building, owned by a limited liability company tied to Westport Capital Partners, is currently 76.1% leased, but the owner is unwilling to invest in tenant improvements. This move highlights the challenges facing downtown Hartford’s office market, with nearly 40% of office space available and multiple properties in foreclosure or receivership.

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