District Building Hits the Market

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Three developments in the recently ended 1st Quarter combined to produce a positive outcome for New Haven’s office market, but also resulted in a statistical anomaly in the form of a higher vacancy rate.

Net absorption, defined as the amount of increase or decrease in occupied space, was 60,436 square feet for the quarter, a healthy number. Those gains, though, were more than offset by the addition of a new 95,000-square-foot building, known as District, to the marketplace, pushing the overall vacancy rate for the city from 19.0 percent at the end of 2017 to 19.3 percent today.

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District Building Hits the Market

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