Net absorption totaled 926,262 sf, the highest single quarterabsorption figure G&E has recorded since first quarter 2000.Vacancies are at 9.3%, down one percentage point from the previousperiod.
"Low interest rates, attractive lease options and the financialstrength of local and regional tenants have buoyed third-quarteractivity," Michael Shelton, vice president, industrial advisoryservices group, Grubb & Ellis, tells GlobeSt.com.
"Despite the (Sept. 11) terrorist attacks and the strugglingU.S. economy, it appears the market has gone unscathed by theevents."
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