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TOTAL MARKET - OFFICE SHOWROOM
<br /> CURRENT UNIVERSE
<br /> Annual Net
<br /> Total Occupied Vacant Percent Absorption
<br /> (Sq. Ft.) (Sq.Ft.) (Sq. Ft.) Vacant (Sq.Ft.)
<br /> Existing Projects 21,122,221 19,202,610 1,919,611 9.1% 659,988
<br /> New Projects 323,250 164,000 159,250 49.3% 164,000
<br /> Current Universe 19,366,610 2,078,861 9.7% 823,988
<br /> FUTURE PROJECTS HISTORICAL
<br /> Total Number Of NET ABSORPTION
<br /> (Sq.Ft.) Projects o
<br /> 1,600,000 0
<br /> Under Construction 341,000 5
<br /> Planned Projects 902,942 11 '"
<br /> Future Projects 1,243,942 I6 1200,000 00
<br /> en
<br /> NET ABSORPTION (Years Ended April 30)
<br /> E 800,000 1
<br /> Annual Net Percent of e t
<br /> Absorption Occupied rn ? ;' '
<br /> I a
<br /> Year (Sq.Ft.) Square Feet .00,000 e
<br /> 2000 1,214,002 7.3
<br /> 2001 46,609 0.3 Al 2002 388,197 2.1 0 a -.41 ` Air �J
<br /> 2003 115,298 0.7 2000 2001 2002 2003 2000
<br /> 2004 823,988 4.3
<br /> Five Year Average 517,619
<br /> LARGEST CONTIGUOUS SPACE BREAKDOWN
<br /> Vacancy Size Number of
<br /> Square Feet Projects Square Feet
<br /> 0 195 0
<br /> 1—9,999 67 387,222
<br /> 10,000—24,999 44 694,760
<br /> 25,000—49,999 9 328,076
<br /> 50,000—99,999 4 313,067
<br /> 100,000+ 1 104,262
<br /> Total* 320 1,827,387
<br /> RENT SUMMARY
<br /> Average Low - High
<br /> Office Rent $9.15 $6.50 - $14.00
<br /> Warehouse Rent $4.50 $3.50 - $6.75
<br /> Blended Net Rent(Assuming 50% Office) $6.83
<br /> Taxes& Op.Exp. $3.61 $1.25 - $9.14
<br /> •One block of space per project,may not reflect total vacancy. Not all projects reporting Largest Contiguous Space figures.
<br /> 9
<br /> NAIOP 2004 ANNUAL INDUSTRIAL MARKET UPDATE
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