THE VIRGINIAN-PILOT 

                         THE VIRGINIAN-PILOT
                 Copyright (c) 1994, Landmark Communications, Inc.

DATE: TUESDAY, June 21, 1994                    TAG: 9406210448 
SECTION: BUSINESS                     PAGE: D1    EDITION: FINAL  
SOURCE: Short 
DATELINE: 940621                                 LENGTH:

OFFICE SPACE IN RICHMOND

{LEAD} Vacant suburban office space is more abundant and cheaper in Richmond than in many competing cities in the Southeast, a new survey says. For example, Richmond's suburban office vacancy rate of 10.1 percent at the end of 1993 was more than the 7 percent vacancy rate in Charlotte or the 10 percent rate in Raleigh-Durham. Also, Richmond's suburban offices rented for an average of $14 a square foot, compared with an average of $16 in both North Carolina markets. The availability of affordable space could attract companies looking to move to Richmond, said Ralph Spencer, senior vice president of Harrison & Bates Inc., the real estate firm that conducted the survey of 36 cities.

by CNB