The decline was due primarily to leases closing in July, according to the report. In July, the CB team identified tenants looking for 1.96 million sf.
Subleased space with more than 12 months on the lease term that is being actively marketed, continues its positive trend of declining month-to-month. There's now only 1.24 million sf of subleased space available.
Of that space, 51% in Class A building. "The true test of the market will be how strong a finish we have in the last five months of 2003," according to the report.
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