Cabot, which focuses on distribution facilities in such marketsas Boston, Atlanta, Chicago and Los Angeles, saw its net incomefall for the quarter, from $15.1 million in 1999 to $12.9 millionin 2000. Nonetheless, FFO per common share was up from 50 cents inthe second quarter a year ago to 56 cents this year.

Among the highlights for the second quarter were Cabot's ongoingacquisition and development programs. Ten properties were purchasedfor $66 million. It also has projects underway in 12 marketsnationally, ventures carrying a development cost of $252 million.Another bright spot for the quarter was the creation of a $100million joint venture with Chase Capital Partners that will investin value-added industrial workspace properties in major domesticmarkets. The partnership recently closed on the first majorinvestment, paying $12.5 million for a 131,000 sf research facilityin San Jose, CA.

"We continue to see exceptional investment opportunities in themarket, and are well-positioned to pursue these opportunities,"says Cabot Chairman Ferdinand Colloredo-Mansfeld.