Hartford, Connecticut Retail Market

Taking a look back at 2007, the retail sector did well in much of the Northeast. According to KeyPoint Partners’ 2007 Greater Hartford, Connecticut Retail Report, the retail sector in Greater Hartford, during the 12-month period ending in September 2006, grew by 282,000 square feet, reflecting a gain of 0.8 percent from the prior year. Occupancy rates also improved during that 12-month period. The vacancy rate at year-end was 8.9 percent, down from 9.6 percent a year ago, making it the second straight year that the Hartford market showed a significant decline. Supply also increased in Hartford. At the end of 3rd Quarter 2006, the total retail real estate inventory was comprised of 37.1 million square feet, an increase of 281,500 square feet, or 0.8% more space than existed one year earlier. Overall, many merchandisers categories experienced gains in the Hartford retail market.

©2008 France Publications, Inc. Duplication or reproduction of this article not permitted without authorization from France Publications, Inc. For information on reprints of this article contact Barbara Sherer at (630) 554-6054.

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