Real Estate Trends

South Bay Office Net Absorption

(in millions of square feet)

1996 QIV: 0.32

*

1997 QI: -0.21

Eight-quarter average: 0.16 million square feet

1997 QII: 0.18

1997 QIII: 0.13

1997 QIV: 0.57

*

1998 QI: 0.34

1998 QII: -0.19

1998 QIII: 0.12

South Bay Office Vacancy Rates

1998 QII

3rd-quarter 1998, with sublet: 17.4%

Without sublet: 15.8%

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

Source: CoStar