LONDON-Citigroup has started sub-letting surplus space in its million-sq ft tower at Canary Wharf. Law firm Allen & Overy has taken the 29,000-sf 33rd floor of the tower building at 25 Canada Square, and in all the bank plans to sub-lease over 300,000 sf.

NEW YORK CITY-The US recession is over, says a chief economist for Standard & Poor's at a panel Tuesday evening. While the group was hesitant to declare a jobless recovery inevitable, they did indicate that the glut of undervalued sublease space in New York could be enough to drive the market upwards.

LOS ANGELES- Vacancy rates in Central, West, South, North Los Angeles and the Tri-City districts all ranged between 16% and 20% through the first quarter of the year, according to the latest report from Cushman & Wakefield.

LAKE FOREST, CA-Completed in July 1999, the project consists of six two-story office facilities that encompass a total of 167,585 sf. Tenants here include Orange County Register, V-systems (Esker Inc.), Valor Computerized Systems and Computer Education Institute. The complex was 78% leased at the time of sale.