The overview, according to Christopher Kinum, senior managingdirector of the firm's office here, is that the vacancy rate isvirtually unchanged from the 2Q at a shade over 19%. But that'sstill a point and a half higher than it was a year ago.

Direct absorption is up, registering +511,000 sf in the quarter,marking the second straight positive quarter. That achievement canbe credited to the completion of the SJP Properties' pre-leasedWaterfront Corporate Center II in Hoboken, as well as leases byPfizer in Parsippany (160,000 sf), Biovail Pharma (115,000 sf inthe I-78 corridor) and Barnes & Noble (74,000 sf in the samesubmarket).

And the amount of available sublease space dropped slightly froma year ago, with a 7% decline to just over 10.1 million sf,according to Kinum.

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