The report refers to the second quarter's direct vacancy rate of7.4% as strong, compared with 9.3% a year earlier. Also, subleasespace has decreased from 913,850 sf mid-year last year to 396,755sf at the end of this year's second quarter. This has helped theoverall vacancy rate, which fell 2.6 percentage points to 8 %.

Although the numbers are a little different, according toCushman & Wakefield's second-quarter Broward industrial report,they show improvement. The report shows the county's overallvacancy rate lowered to 9.2% at the end of the second quarter from9.5% at the end of the first quarter. Steady leasing was among thefactors contributing to the decrease.

Furthermore, net absorption year to date is 463,403 sf, up from196,871 sf for the first half of 2002, the Codina report states.The gross average rental rate of $7.30 per sf at the end of thisyear's second quarter is up slightly from the $7.26 per sf at thesame time in 2002.