The New Haven County Office Market is comprised of approximately 34,200,000 square feet of inventory. As of the 1st Quarter 2018, the vacancy rate in New Haven County is 8.2%, 40 basis points higher than the 1st Quarter 2017, and 156 basis points lower than the ten year average.
Trends: Since the beginning of 2013, there has been approximately 450 office properties sold throughout New Haven County. Total dollar volume exceeded $700,000,000 with over 9,500,000 square feet of space transferred. Over this period of time, the market averaged a $79 median sale price per square foot.
Southbury’s Heritage Landmark office building sold on March 8, 2018 for a reported $2,125,00. The property was sold by CD Resources, LLC to RNL, LLC for approximately $82/square foot.