The net amount of space leased July through September was638,463 sf, compared to 102,079 sf during the third quarter of 1999and the five-year average for the period of 312,115 sf. Netabsorption year-to-date is 2.6 million sf, up from 839,756 sfduring the first nine months of 1999 and the five-year average forthe period of 1.4 million sf.

User requirements were led by the technology sector,particularly the telecom and Internet infrastructure industry,which helped take up the slack after the dot.com slump in thespring. According to Jeff Lijeberg, a SVP in the Downtown Chicagooffice of CB Richard Ellis, "With top spaces being pursued bymultiple tenants, decision making is continuing to accelerate."

The vacancy rate for Downtown Chicago's 44.4 million sf of classA buildings (measured in single-digits since late 1997) declined to4.7% based on 563,854 sf of net absorption year-to-date, accordingto the CB Richard Ellis report. In the 41.9 million sf of class Bbuildings, vacancies fell to 8.7% based on 1.7 million sf ofabsorption. In the 20.9 million sf of class C properties (themajority developed prior to 1949), vacancies declined to 13.7%based on 293,722 sf of absorption.