The Downtown office market ended the third quarter 2010 with a vacancy rate of 17.38%. This vacancy rate represented a 0.12 percentage point decrease over the previous quarter, when it was
17.49%. The decrease in vacancy occurred in a quarter where Downtown saw positive 29,099 square feet in net absorption and no new deliveries. Quoted rental rates ended the third quarter 2010 at $18.31 per square foot, down from $18.51 per square foot in the second quarter 2010. At the end of the quarter, there was nothing under construction in the Downtown office market.

Class A projects in Downtown reported a third quarter 2010 vacancy rate of 22.36%, down from the 22.58% reported at the end of second quarter. Net absorption within the class Asector totaled positive 29,636 square feet for the quarter, and no new deliveries were reported. Quoted rental rates for available space within the class A sector averaged $19.49 at the end of the quarter, down from the $19.52 that was reported in the second quarter. There was nothing under construction in the class A market at the end of third quarter.