Back to Work for New Haven Market

The office market in New Haven is now a few months into its new reality of high vacancy and vague prospects, the result of the bombshell decision last September by Alexion Pharmaceuticals to move its headquarters to Boston.

Following the mega-jump in 3rd Quarter vacancy due to the Alexion move – from 14.1 to 19.3 percent – the market settled back into its usual groove in Q4, ending the year with modest improvement and a vacancy rate of 19.0 percent. Net absorption for the quarter was 20,898 square feet.

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