The net amount of space leased July through September was249,263 sf. Net absorption year-to-date is 322,401 sf, a declinefrom 2.6 million sf during the first nine months of 2000 andrunning below the previous five-year average for the period of 1.8million sf.

According to CBRE senior VP Bob Gillespie, "Many companies arelooking for ways to cut or at least hold the line on capitalexpenditures, and that typically includes keeping real estaterequirements to a minimum."

The report describes one new office project coming on lineduring third quarter, the 407,000-sf 550 W. Jackson Blvd. building,which opened 40%, leased.

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