Table: The Office Market Cools Off
Vacancy rates are up sharply, to 5.8%, and rents are collapsing in the once-hot South of Market district.
The market remains tight, but after nearly doubling in 2000, rents are tumbling fast.
The dot-com bust is crushing the Westside market, with 1 million square feet of sublease space available.
Vacancy rates are extremely low, at under 3%, but rents are sliding in top-of-the-line buildings.
New construction is starting to overwhelm demand. Rents are softening, and vacancy rates, now 7.5%, are expected to hit 10% by 2002.
Data: Julien J. Studley Inc., Equity Office Properties Trust