So Flagler has broken ground on SouthPark Center 1200, afour-story, 137,000-sf structure and expects to have the propertyready for occupancy by September 2005, says company president G.John Carey. He says he was obligated to start a new building afterStarwood Vacation Ownership leased 100% of SouthPark 1000, also a137,000-sf, class A property.

"When we began development of SouthPark Center 1000 earlier thisyear, we believed the market was improving and could absorbadditional product at this strategic location," Carey says. "We areexperiencing a strong level of interest from both existing andprospective tenants."

Flagler officials declined to disclose the average asking baserent range, other than to say it was "in the moderately pricedrange." Area brokers familiar with the submarket tell GlobeSt.comthe average asking rents are in the $20 to $23 per-sf category.