Engineering was followed by real estate companies, which accounted for 16% of the activity. Engineering and real estate were the only two sectors that accounted for at least 10% of the activity, except for the unclassified category of "all others," at 13.5%. Following real estate, the list was rounded out by financial services, 8.4%; telecommunications, 7.1%; business services, 7.5%; insurance, 5.6%; attorneys, 5.4%; wholesale/retail, 4.7%; mortgage companies, 4.4%; and government, 4.1%.
The team also says that activity along the corridor, after a rocky few years, started out on a positive note in 2005. The team pointed to three positive signs in the first quarter: Absorption of 39,283 sf; gross leasing activity of about 700,00 sf; and class C asking lease rates rising by 64 cents per sf in the first quarter from the fourth quarter 2004.
"We believe that the market has turned the corner," the report summarized. "However, it is too early to say the bull is back or that it is a landlord's market. Activity is strong, [but] the deal cycle is slow for most users. But deals are getting done."
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