"The question mark is the first couple quarters of 2002," Alan says.

As well as the most product, Kent Valley has 61% of the entire market's vacant space. The vacancies there are 4.305 million sf -- or 11%. Nonetheless, says Alan, "It seems like investors still love our market." A market, says Allan, with class A space where ownership is primarily institutional -- institutions with the financial wherewithal to wait out downturns.

Making a point of the institutional lure of Kent Valley, Alan points to the 772,000-sf Kent East Corporate Park, a collection of six industrial buildings placed on the market by New York Life. Alan tells GlobeSt.com that while no asking price has been set, the marketing circular says the property has a replacement value of $52 million. There has been a lot of interest thus far, especially for a real estate market that has been wobbling ever-increasingly over the last year. Alan says a California office of C. B. Richard Ellis is representing the buyer.