Real Estate Trends

South Bay Office Net Absorption

(In millions of square feet)

Seven-quarter average: 0.14 million square feet

1996

QII: 0.11

QIII: --0.10

QIV: 0.33

*

1997

QI: --0.22

QII: 0.18

QIII: 0.14

QIV: 0.53

South Bay Office Vacancy Trend

4th quarter 1997, with sublet*: 17.0%

Without sublet*: 16.1%

Note: Vacancy rate is the total vacant square footage divided by total rentable square footage in all existing buildings. Subject space is space rented by primary tenants that is vacant and available for sublease.

Source: CoStar