Real Estate Trends

Miracle Mile Office Net Absorption

(in millions of square feet)

1997 QII: 0.00

1997 QIII: -0.04

Eight-quarter average: -0.01 million square feet

1997 QIV: 0.08

*

1998 QI: 0.06

1998 QII: 0.07

1998 QIII: -0.13

1998 QIV: -0.12

*

1999 QI: -0.04

Miracle Mile Office Vacancy Rates

1st-quarter 1999, with sublet: 22.3%

1999 QI: Without sublet: 21.0%

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