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To: Tushar Patel who wrote (130415)	3/19/2001 4:38:29 PM
From: tejek	Respond to of 186894

OT I don't know the overall vacancy rate. In the past (many years ago), your statement about SOMA having a higher vacancy rate may have been true. But not lately. You may well be right....I do not follow the SF market as closely as some other markets. And I don't want to make like real estate will not be effected should we go into a recession. But I do not think its as Jim describes...a bubble similiar to ten years ago and ready to pop..the numbers don't back up that argument. But there also is another point re SOMA that I did not make clear earlier. SOMA is a fairly small portion of the SF office market. The major concentrations of Class A space are centered around the Embarcadero/lower Market area and to a lesser extent around the Federal building. Those markets are still strong as evidenced by the City's awarding developers rights to build new buildings [only permitted by law when the market will support new construction]. Should approvals be revoked, then we will know that the overall market has softened. In any case, I think most of the space in SOMA, although nice, would not even be classified as Class A. Therefore, even in the short term, its impact is not that great on the overall market. ted EDIT. If anyone wants to continue this discussion, then lets do it on the AMD classic thread so that people here on Intel don't get annoyed with the OT stuff. Thanks.