Real Estate Trends

South Bay Office Net Absorption

In millions of square feet

1997 QIII: 0.13

1997 QIV: 0.58

*

1998 QI: 0.35

Eight-quarter average: 0.03 million square feet

1998 QII: -0.64

1998 QIII: -0.19

1998 QIV: 0.07

*

1999 QI: -0.08

1999 QII: -0.09

South Bay Office Vacancy Rates

2nd-quarter 1999 with sublet: 15.2%

1999 QII: Without sublet: 13.5%

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