Grubb & Ellis research for the third quarter of this yearshowed the office vacancy rate at 11.9% in Riverside and SanBernardino counties, where the relatively small (just under 15million sf) office market has often outperformed its largerneighbors in recent years. The third-quarter vacancy rate was downfrom 13.1% in the previous quarter and 14% in the third quarter oflast year.

Sales and leasing of Inland Empire office buildings for thefirst three quarters of this year has already surpassed theactivity for all of last year, according to Mary Sullivan, regionalclient services manager in the Ontario office of Grubb & Ellis.The year-to-date total of nearly 537,000 sf of activity compareswith a total of 239,000 sf for all of 2001. Sublease space remainsrelatively limited in the two-county region, as has speculativeconstruction of office projects.

The Grubb & Ellis report points out that the Inland Empireoffice market has benefited from a population shift that hasbrought more professionals and managers to the region, whichtraditionally was primarily a blue-collar bastion.

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