The Greater Hartford industrial market closed Q2 2019 with 1,361,530 sq. ft. of negative absorption. However, this number is not indicative of the current market as it was driven by a single new available space, which accounted for 1,323,749 sq. ft. of the negative absorption. This space is currently occupied by JCPenney, who is expected to vacate in Q3 2019.
The availability and vacancy rates both increased from 8.2% and 7.7% in the first quarter to 10.1% and 9.5%, respectively, in Q2.