Changes in office space market in Connecticut wrought by the COVID-19 pandemic have left the sector vulnerable for a downturn in the coming months, a group commercial real estate experts said at a recent panel.
The comments about Connecticut’s office space market came during a commercial real estate forum held in Wallingford by the Connecticut and western Massachusetts chapter of the Society of Industrial and Office Realtors, Thursday. April Condon, a partner in the New Jersey-based law firm Day Pitney, said the commercial real estate sector in Connecticut has shifted in the last two years.
“In a lot of asset classes, it has pivoted,” Condon said of the commercial real estate sector. And in the case of large chunks of Connecticut’s office market, that pivot has been a turn for the worse, she said.