For Douglas Development, market reports indicate that the acquisition is a good investment, despite the 16% vacancy rate in the second quarter. "The comings and goings of tenants in Class B cancelled out any gains or losses almost exactly," researchers note in the Mid-Year 2003 Thalheimer Report. "The low activity for leasing is not an indicator of the general activity in the downtown market. Several tenants are in the market right now for both class A and B space and we expect that trend of rising activity to continue throughout this year and the next couple of years as well.
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