According to the second-quarter report from CB Richard EllisInc., office vacancies remain near zero and rents were up for thesixth quarter in a row. Reports authors CRBE senior vice presidentJames W. Lees and vice president Timothy E. Grant wrote that thecrunch is unlikely to ease so long as supply continues to exceeddemand.

Direct vacancies averaged 0.3%, ranging from 0% in the cities ofBrisbane, Foster City and San Carlos to 1.3% in the city ofBelmont. With sublease space factored in, vacancies averaged 1.5%,with 0% in Brisbane to 8.3% in San Carlos.

Rentals for Class A properties average $8.50 per sf and $7.36per sf for Class B properties. The authors calculated positive netabsorption of 479,96 square feet for the quarter.

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