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ST. PAUL, EAST <br /> S <br /> SIGNIFICANT EVENTS AND TRENDS <br /> • Vacancy rates have increased slightly during the last year. <br /> • St. Paul, East is still a tenant's market. <br /> • Owners are finding creative ways to reposition and fill vacated space. <br /> • Public/private partnerships are helping to redevelop Midway sites. <br /> • New and planned development is occurring in eastern portions of the market. <br /> • Smaller user sales are still going strong. <br /> S <br /> NAIOP 2004 ANNUAL INDUSTRIAL MARKET UPDATE 19 <br />