Connecticut's Office Market Is 'Going to See Some Pain' Experts Say

Day Pitney Real Estate Partner April Condon was featured in the Connecticut Post article, "Connecticut's Office Market Is 'Going to See Some Pain' Experts Say," discussing the Connecticut commercial real estate industry.

Condon acknowledged the current challenges facing the office space market but shared that she did not "think office space was dead by any means." Condon offered a practical and more optimistic perspective by stating, "Companies want to be able to retain young talent…you still have to train talent somewhere, so offices are not going to disappear."

Condon emphasizes that challenges in one asset class of the commercial real estate industry can provide real estate professionals with opportunities to pivot their skill sets to focus on other asset classes that are developing strength by organic market changes. Condon shared an example of such opportunity by suggesting that that the commercial real estate industry evaluate whether there is a growing trend in fast food and casual dining. Condon shared that "The pandemic changed the way we eat. People are switching away from cooking and food shopping. I have six or seven leases on my desk right now that I'm reviewing which are from that part of the restaurant sector."

Read the full article here. The article was syndicated across Hearst Media.