The strongest economic indicator is the healthy employmentpicture. The Tampa area experienced an unemployment rate of 3.3%for February, which compares to a 3.4% rate for February 2006. Thenational rate was 4.9% in February compared to a 5.1% for the samemonth a year ago.

Rental rates in the office sector reached an all-time highduring the first quarter with an average asking rental rate of$20.55 per sf, according to the CB Richard Ellis Q1 office marketreport. Rates in Hillsborough County increased 3.9% while rates inPinellas County rose 1.2%.

Sales in the office market have remained steady since the firstof the year, with sales totaling $131 million at an average rate of$133 per sf. Of particular note was the February sale of the672,022-sf Koger Center to the Trump Group for $93.325 million,according to the CB Richard Ellis report.