Between them, there is an undetermined amount of space for the market to reabsorb when demand improves.
Total listed sublease space at year-end in the Southwest was 533,215 sf, according to the survey.
New development delivered an additional 600,000 sf of new space in 2001. With demand down, this new space has contributed to a substantial increase in vacancy rates. Vacancy among class A properties was at 13.1%, and 18.3% with subleases at year-end. Class B vacancies were at 11.9% and 15% respectively, and class C vacancies were 13.9% and 14% with subleases.
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