What a difference a year makes.
This time last year, Northern Virginia, with submarkets likeTysons Corner, Reston and Dulles, led the region in net absorption,square foot prices and new construction. But that was beforedot-coms got dot canned. Along with the demise of Internet-specificcompanies, Internet-related firms all the way down to heavy hitterslike telecom-equipment makers and optical-networking firms havebacked out of leases or abandoned new construction alltogether.
In all, Transwestern reports there has been two-million sf netabsorption YTD, but 3.9 million sf of sublet space has beenreturned to the market during the same time period, eliminating anygains.
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