The property, at the West End section of Hartford, incorporatesone-, two- and three-bedroom units with 10,000 sf of retail andcommercial space. Steve Witten and Victor Nolletti of Marcus &Millichap Real Estate Investment Services represented both thebuyer and seller.

"It's kind of a gateway property," Witten tells GlobeSt.com."It's at the intersection of interstate I-84, I-91, [and] downtownHartford so it's a highly visible property." The hard-to-findhighway accessible space in the CBD makes it a perfect fit forEnterprise Rent-a-Car, which takes up a portion of the building'sfully-leased retail space.

According to Colliers Dow & Condon's Q1 report, vacanciesare increasing in the suburban markets here, with virtually noactivity downtown. The Hartford market is slow in general,mimicking the national economy with a steady trend towards valuingmore suburban markets. Office rates are down overall in the CBD andtilting up in suburbia. The presence of insurance companies,however, buttresses the CBD and helps keep prices from sliding.