This particular cycle, of course, is no different--and in factis proving to be more painful than many had originallyexpected--both anecdotally and on a quantitative basis.

Indeed, the unemployment figures that came for March representanother high water mark for economic distress. A net total of663,000 jobs were lost last month, causing the unemployment rate tojump to 8.5%--its highest level since late 1983. Altogether theeconomy has shed a total of 5.1 million jobs since December2007--when the recession began--most of them over the last fivemonths.

Dennis Russo, a senior partner with the commercial real estategroup of New York City-based law firm Herrick, Feinstein, tellsGlobeSt.com he is seeing a marked increase in the number of tenantrequests to surrender their space. "There are more requests forentire surrenders than partial surrenders, and that arises largelyfrom the loss of office jobs nationwide."