Office, industrial vacancies drop.(Brief Article)

NATIONAL VACANCY rates for both office and industrial space fell during the third quarter of 2000 from their levels of three months earlier. This was a remarkable accomplishment in light of the fact that spending for both new office and industrial building construction spending has grown at a rapid rate during the past 12 months.

With vacancy rates falling even as the amount of new space coming on the market has been increasing, it's clear that -- at least through the fall of 2000 -- demand was continuing to outpace growth in the amount of new space being added.