The numbers reflect a continued slowdown in the economy fromyearend 2000 with 560,751 square feet of net absorption, anincrease of about 260,000 square feet over the second quarter.
Rental rates also decreased from $21.64 per sf to $21.58 per sf.With deliveries of 1.6 million sf, vacancy rates decreased from90.3% to 89.39%. Square footage availability also increased overone million sf to 12.76 million sf.
The Bowers report anticipates the fourth quarter will improve,even though 2.25 million sf will be delivered with a large amountbeing in two large urban developments, Alliance Center in Buckheadand the Millennium in Midtown. In addition, sublease space hasincreased from 4.5 million sf to 5.3 million sf.
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