Hartford Business Journal

20 HARTFORDBUSINESS.COM | OCTOBER 2, 2023 William Herchel, president and CEO of solar company Verogy, said he moved his company from downtown Hartford to West Hartford Center to make it more attractive for employees to return to the office. HBJ PHOTO | STEVE LASCHEVER Curbside Appeal West Hartford's in-demand office space a bright spot in struggling sector from home. Even still, the office draws about 10 to 12 people on an average day, Herchel said. "When we made the decision to move from Hartford to West Hartford, it was partially because we were trying to find a way to reinvigorate our office culture after the pandemic," Herchel said. "I think partially because of where we are located, we've had a lot more people deciding to come in — probably once or twice a week in the beginning and that's grown over a period of time." Good operators Brokers and town officials say West Hartford office property owners have made smart investments in upkeep and improvements. "At Figure Eight Properties, we are making major investments in our Bruce Simons A tale of two office markets West Hartford Greater Hartford office market* office market* No. of office buildings 31 400 Total square feet 1.2M 25.9M Vacancy rate 12.8% 28.2% * Data as of the end of the second quarter of 2023. Source: CBRE By Michael Puffer mpuffer@hartfordbusiness.com I n about eight months, global liability insurer Beazley will leave a 32,000-square-foot office in a picturesque corner of Farmington for a 20,000-square-foot space set among the handsome sidewalks, busy shops and quality restaurants in Blue Back Square. Chief Operations Officer Troy Dehmann said West Hartford was the obvious choice as the insurer's lease wound down in Farmington, where Beazley's Connecticut home has been since 2006. A walk-through of West Hartford Center quickly convinced company leadership it was a place that would appeal to Beazley's 220 Connecticut office staff and clients. The company will be taking resi- dence at 65 Memorial Dr., a five- story, 172,865-square-foot office building in Blue Black Square. "It was obvious to me it was a vibrant, thriving urban-suburban location," Dehmann said. "We are trying to build an environment where people will want to come in and also socialize and get to know each other." Long-term smart planning and natural advantages have helped West Hartford generate a vibrancy that's keeping its office market performing well, even as the sector continues to struggle statewide and across the country coming out of the pandemic. At the close of the second quarter, 12.8% of West Hartford's 1.2 million square feet of office space was vacant, according to brokerage and consulting firm CBRE. That compares favorably to a 28.2% vacancy in 25.9 million square feet of office space available in 17 Greater Hartford cities and towns, according to CBRE. West Hartford has built a reputa- tion for convenience, with shopping, hotels, entertainment and great dining in easy reach, said CBRE Executive Vice President John M. McCormick Jr. That has recently drawn tenants like alternative investment manage- ment firm ARES Management from Simsbury, Beazley from Farmington and others, McCormick said. Verogy, a builder and operator of commercial solar power installations, moved in January from downtown Hartford to a roughly 3,000-square- foot office in West Hartford Center. The second-floor office at 124 LaSalle Road — above Max Burger — can accommodate up to two dozen staff, said Verogy President and CEO William Herchel. Verogy staffers are free to work

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