The seller, Pacific Eagle Holdings, was represented by Drew Hildof Beitler Commercial. The buyer, Alex Winitsky, was represented byJoel Frank of First Property.

The transaction comes on the heels of a recent report showingthat although the county's office vacancy rates are climbing, rentshere are also rising. The report, published by NAI CapitalCommercial, finds that the average rental rate for class A space iscurrently $2.27 per sf, as compared to $2.16 at year-end 2000.

Meanwhile, the Basin's direct vacancy rate is at 12%, ascompared to 10% at year-end, NAI says. In addition, net absorptiontotaled negative 1.2 million sf in the first six months of 2001, ascompared to positive 5.4 million sf during the last half of2000.

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