Urban ‘Flight-to-Quality’ Trend Grows as Companies Pursue More Vibrant Office Spaces

According to the Hartford Business Journal, companies are continuing to migrate from the suburbs to downtown Hartford, despite high office vacancy rates. The Connecticut Association of Realtors recently moved to a 9,700 square foot space at 90 State House Square. Lease rates in downtown Hartford are significantly lower, averaging $21 to $25 per square foot, compared to $40 to $45 in West Hartford Center. Despite these moves, the downtown office vacancy remains high, with estimates ranging from 26.7% to 40%.

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