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March 31, 2005

Marcus & Millichap

Marcus & Millichap ranks the Puget Sound region's office market as 15th best in the country in 2005, up 20 places over last year. The real estate brokerage says effective rents will climb in 2005 for the first time in five years "as waning concessions lift rates almost 2 percent to $20.75 per square foot. Investment activity will continue at a robust pace as hiring across office-using sectors and limited development boost fundamentals... Regionwide vacancy is forecast to improve 100 basis paints to 14.8 percent, representing the lowest rate since 2001."




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