Rents: Domestic Bargains.

• Position: Office space - Brief Article - Statistical Data Included

Think office rents in the U.S. are a little high? They could be a lot worse -- as companies renting in London or Tokyo know all too well.

London has overtaken Tokyo as the world's most expensive city for office space, with total occupancy costs rising to $135 a square foot, according to a survey by real estate services firm Cushman & Wakefield. Tokyo is close behind at $134/sf. By comparison, San Francisco -- the highest U.S. city -- is a relative bargain at $80/sf, though rents in the center city there surged almost 70 percent during 2000.

Cushman sees rents in the Bay Area "correcting" through the end of the year, with vacancies continuing to rise. For 2002-3...