The considerable cooling in the technology sector played a majorrole in the downturn, according to Grubb & Ellis. Many of thesefirms were tenants in the Airport area and South County, which havebeen hard hit by the dot.com bust. However, the report does pointout that technology segments such as biotech, pharmaceuticals,communications and security, will benefit from increased spendingand may expand into larger spaces here in the future.
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