Real Estate Trends

Downtown L.A. Office Net Absorption

(In millions of square feet)

Seven-quarter average: --0.27 million square feet

1996

QII: --0.74

QIII: 0.49

QIV: --0.32

*

1997

QI: 0.07

QII: 0.01

QIII: 0.18

QIV: --1.57

Downtown L.A. Vacancy Rate

4th quarter 1997, with sublet: 26.0%

Without sublet: 22.9%

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