According to Vought, Spieker is basing its keen interest in thismarket on "very good employment growth, a diversifying economy, aneducated work force, the quality of life and the limitedavailability of land" for development. Overall, the Menlo ParkCA-based REIT remains bullish on the market and expects only a"slight pause."
Vought expects Seattle to experience a healthy economy in 2001but adds, "We won't continue to see the 6% pace we've seen. We'rein for a couple quarters of slow economic growth in the next year."He predicts more "business churn" (right sizing, downsizing, andsome companies going out of business) in the Puget Sound market,even in non-dot-com industries.
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