Last summer, many speculated about the impact such a dominantplayer would have on the market. But, with recent events and theeconomy being what it has been since the acquisition, has EOP beenimpacting the standards in Bellevue?

A local real estate expert, speaking on the condition ofanonymity, tells, "Initially, they (EOP) weren'tadjusting their rates at all, but now they are beginning to getreal relative to rates." He says that with the size and quality ofits inventory, the Chicago-based REIT has the clout to undercutcompetitors -- forcing other Bellevue landlords to step inline.

"EOP's going to be more aggressive until they achieve the(occupancy) numbers they want," the source says. From thatstandpoint, he continues, the Eastside's largest landowner isimpacting the market, driving rents down to meet its own needs --offering rates in its top-quality properties as low as lesserproperties of its competitors.

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