At the start of the fourth quarter, retail vacancy in the Valleyhit 4.54%, more than a full percentage point lower than the startof the year when the vacancy rate was 5.52%, according to a newsurvey by CB Richard Ellis.
Even though more retail space has been built and put on themarket in 2000 than in any year during the past decade, demand hascontinued to outpace new development.
Through the third quarter, more than three-million sf of retailspace has been absorbed, while approximately 2.85-million sf of newspace was brought to market.
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