"Class A office asking rental rates will likely continue toincrease in both Westchester and Fairfield, but only slightlythrough the end of the calendar year with a lowering ofavailability in both counties," notes Kim Mowers, senior vicepresident of Grubb & Ellis. "Absorption rates will start toease, however, and we will experience a slowdown in leasingmomentum compared to the heated activity in the first threequarters of the year."

Mowers relates that growth among existing corporate officetenants in both markets as well as the continued expansion of thetechnology and venture capital sectors will keep the real estatemarket strong for the next six to eight months. However, hecautions that e-commerce and Internet firms will begin to put spaceback on the market.

"We are already starting to see a weeding out in the e-commercefield," he says. "Successful firms will reconsider space needs,while some others will exit the market rapidly."