nai hunneman commercial 70 80 lincoln st boston ma 02111 t 617 457 3400 f 3268 www naihunneman com the big picture office space net absorption still remains negative overall vacancy inched up to 15 6 in third quarter 2002 from 14 9 second and 12 first average asking rents fell another 5 a substantial amount of this year s leasing activity is result lease renewals many which are being renegotiated at reduced rates for less with fewer employees downtown market has increased steadily throughout starting q1 8 q2 10 3 q3 driven down by sublease institutional owners filling their properties aggressive pricing thus further bringing rental have essentially fallen back levels seen last late 1990s suburban been hit harder than hovered around 18 17 4
