Business Services Industry
The Business Press, Ontario, Calif., Real Estate & Retail Column.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, October, 2000 by Drummer, Randyl
Oct. 30--THE LOCAL OFFICE MARKET continues to enjoy a combination of steadily shrinking office vacancy rates and rising construction and leasing activity, according to Grubb & Ellis Co.
Through September, Riverside and San Bernardino counties had absorbed some 549,366 square feet of office space -- up sharply from 398,849 square feet during the same period last year, according to the brokerage's third-quarter report.
However, office absorption slowed during the most recent three months: The 124,529 square feet filled during the third quarter is less than half the amount filled between June and August, and also down sharply from the year-ago total of 187,726 square feet.
"Net absorption for the quarter could have been higher," said Mary...
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