Downtown office vacancies are.....down???

You read that right, and by no small number either. Vacancies dropped by 0.6% in the last quarter and demand improved to boot.

Now, before you get too excited, let's remember that portions of two big buildings went off the market due to pending hotel conversions, and that more space is coming on line in 2009. So, while this is welcome news, it may be a bit artificial. But if it isn't....

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