Real Estate Trends

Santa Monica Office Net Absorption

(in millions of square feet)

1996 QIII: +0.14

1996 QIV: +0.6

*

1997 QI: -0.02

1997 QII: +0.03

1997 QIII: 0.0

Eight-quarter average: 0.02 million square feet

1997 QIV: +0.01

*

1998 QI: +0.03

1998 QII: -0.09

Santa Monica Office Vacancy Rates

1998 QII

2nd-quarter 1998, with sublet: 11.5%

Without sublet: 8.7%

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