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Politics : Formerly About Applied Materials

AMAT 252.25

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Nov 28 9:30 AM EST

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To: Paul V. who wrote (63439)	5/7/2002 11:13:16 AM
From: Gottfried	Read Replies (1) of 70976

OT *** Office vacancy climbs to 19% Posted on Tue, May. 07, 2002 By K. Oanh Ha Mercury News Bay Area commercial real estate has continued to nose-dive this year, logging the highest office vacancy rates in more than a decade and causing rents to slide steeply. The overall office vacancy rate reached 19 percent in the first quarter of 2002 -- higher than during the 1990-91 recession, according to a report by BT Commercial Real Estate. That compares with a vacancy rate of 16.6 percent in the fourth quarter of 2001 and 7.6 percent rate in the first quarter of 2001. Certain areas have been harder hit than others. More than a quarter of the office space in San Mateo County -- 26.4 percent -- is empty. San Francisco, with its decimated South of Market area, had a first-quarter vacancy rate of 19.8 percent. rest of story bayarea.com

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