Market Momentum Changing.
While the quarterly stats might not be showing it, I can tell you that the “daily” stats are. “Market Momentum” is beginning to change out there. And while it will take a while to absorb all of the vacancies of the last 30 months, they (the vacancies) ARE beginning to go away. Evidenced by recent deals…CREC, 50,000 sf + in Hartford CT and Windsor CT, STR’s planned expansion (275,000 sf) to East Windsor CT, GE’s 160,000 sf lease in Stamford CT and CIGNA’s 120,000 sf lease in Windsor CT. A number of companies, while not hiring at a pace we would like to see, ARE expanding (and even hiring a few people here and there).
So while commercial agents might be split on the timing of a full recovery, I think we all agree that “market momentum” is picking up.