The vacancy rate has risen from 11.55% in first quarter 2001 to12.59% in second quarter 2001, the report says.

Various factors have contributed to the increase in vacancy,including the new product that has recently come online and thelarge amount of sublet space that has been dumped onto the market,the report says. Office product will continue to flood the market,as nearly two and a half million sf of product was underconstruction in the second quarter of 2001.

The total amount of available office space in the county jumpedfrom 15.68% in the first quarter of 2001 to 16.51% in the secondquarter. However, net absorption has picked up a bit, as the countyexperienced 110,278 sf of positive net absorption for secondquarter 2001.

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