Happy days are here again for real estate.(Commercial Real Estate Leasing Guide 1996.)(Industry Overview)

The Bay Area commercial real estate market is boiling over with deals, making it increasingly difficult for companies to find the office space they need.

Rental rates and vacancy levels are approaching their best marks in more than a decade in every major real estate submarket in the Bay Area - irrefutable proof that the prolonged real estate slump of the early '90s is not only over, but dead and buried.

Lease activity in San Francisco's central business district for the first six months of 1996 stood at 3.3 million square feet, an 83 percent jump over the same period last year. New leases totaling 1.8 million square feet were signed in the second quarter alone, the …