Following is a sampling of the reports:

Los Angeles - The Los Angeles office leasing market continued to show signs of improvement during the third quarter of 2004. The market experienced approximately 1 million square feet of positive net absorption, lowering the overall vacancy rate by one-half percentage point since the end of the previous quarter. For the first time in several years, all submarkets experienced positive net absorption, with the Tri-Cities area leading the pack.
>> Click here for link to the full report.

Nationwide - Office markets across the country continue to exhibit little net absorption due to slow job growth. The following five factors are exacerbating the office market’s inability to bounce back: (1) Those jobs being added to the marketplace are often not traditional office jobs; they include retail, residential construction, and consulting roles– all jobs that do not rely heavily on traditional office space. (2) There are still massive amounts of shadow space (unused blocks of existing space not previously marketed) within the portfolios of large corporate space users which will have to be absorbed before real estate growth is required. (3) Larger corporations are becoming increasingly accepting of work-from-home situations and “hoteling".
>> Click here for link to the full report.

Please let us know if you have any questions about market conditions or would like to discuss your specific real estate needs.

For further information, please contact John B. Stern at jstern@cresapartners.com
or call (310) 207-1700 x115