Many businesses are deferring their decisions about space, says Jim Gray, senior vice president andgeneral manager for Duke-Week's Twin Cities office. Norman Pointe is in the southwest suburbs, which led all markets in the amount of space absorbed, according to United Properties, the Bloomington, MN-based commercial real etate firm. But there was about 1.4 million sf of new construction added lastyear, most of it on speculation. And that pushed vacancy rates up to 8.9% from 7% at the end of 1999, according to a United survey.
An additional 844,000-sf is expected to come on line this year.
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