"The question mark is the first couple quarters of 2002," Alansays.

As well as the most product, Kent Valley has 61% of the entiremarket's vacant space. The vacancies there are 4.305 million sf --or 11%. Nonetheless, says Alan, "It seems like investors still loveour market." A market, says Allan, with class A space whereownership is primarily institutional -- institutions with thefinancial wherewithal to wait out downturns.

Making a point of the institutional lure of Kent Valley, Alanpoints to the 772,000-sf Kent East Corporate Park, a collection ofsix industrial buildings placed on the market by New York Life.Alan tells GlobeSt.com that while no asking price has been set, themarketing circular says the property has a replacement value of $52million. There has been a lot of interest thus far, especially fora real estate market that has been wobbling ever-increasingly overthe last year. Alan says a California office of C. B. Richard Ellisis representing the buyer.