"Every time a report is issued about the 'bad' state of themarket, remember that these reports are viewed through thelandlords' perspective," Lechter says. "Most businesses leasespace, and for them, the current environment is very favorable, asthe number of choices are quite high and the overall costs ofoccupancy are very low."

The broker says a little-understood fact in the current marketis that "many tenants are paying the same amount in rent per sftoday as they were 10 or 15 years ago. Is there anything else whichbusinesses buy in which this is the case?"

Lechter adds, "While the market may tighten somewhat, we do notexpect the overall bias in favor of tenants to change." He says"there are many new buildings being proposed by developers whichwill create additional space in the market, and thereforeadditional choices for tenants."