Real Estate Trends

Downtown Los Angeles Office Net Absorption

in millions of square feet, for buildings greater than 5,000 square feet

1997 QII: 0.01

1997 QIII: 0.19

1997 QIV: -1.33

*

1998 QI: 1.12

1998 QII: -0.24

Eight-quarter average: 0.16

1998 QIII: -0.33

1998 QIV: 0.20

*

1999 QI: -0.92

Downtown Los Angeles Office Vacancy Rates

For buildings greater than 5,000 square feet

4th-quarter 1998, with sublet: 9.0%

1999 QI: 1st-quarter 1999, with sublet: 22.1%

1999 QI: Without sublet: 20.3%

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