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Regional Data -continued <br /> OFFICE ABSORPTION, • • AND VACANCY <br /> ■ABSORPTION ■CONSTRUCTION i VACANCY <br /> 5 18:3 <br /> 196 _ 19.9 20 <br /> 18.0 17.4 <br /> 16.1 15.2 15.2 15.9 16.6 <br /> 4 Ib <br /> Z 3 12 <br /> O <br /> J <br /> Z 2 8 <br /> 1.47 1 35 Z <br /> 0.95 0.97 4 Q <br /> �' I ?3 0.I b 0.33 0.48 0.62 U <br /> � 0.52 0.18 0.52 0.27 Q <br /> LL 0 0.00 0.00 0.02 0.00 E 0.00 0 <br /> LU <br /> {015) {0.00) Z <br /> Lii <br /> (I) (4) U <br /> CLU <br /> Y {1.83) (8) <br /> '04 105 '06 '07 08 109 '10 '1 1 '12 '13 '14 <br /> &N kefield l Nortl N[ - <br /> "Source: Northmarq January 2015 <br /> Office vacancy is still the highest of the four major building sectors. New construction is <br /> typically limited when vacancy is over 10%. Although current vacancy is high, vacancy has <br /> been gradually trending downward over the past four years. <br /> INDUSTRIAL ABSORPTION, • • ANDVACANCY <br /> ■ABSORPTION ■CONSTRUCTION •VACANCY <br /> 5 20 <br /> Ib.4 16.1 <br /> 4 15.6 177, 15.2 16 <br /> 13.2 12.9 128 <br /> 11.8 12.a <br /> 3 <br /> 2.52 9 12 <br /> v, 2.16 <br /> Z 2 1..92 <br /> O 1.24 1.09 9 1.04 1.01 <br /> 0.61 - 4 ~ <br /> 0.43 0.27 0.30 Z <br /> 0.04 0.00 0.00 0 Q <br /> 0 J <br /> Ld <br /> � Q <br /> � (1) 7Fj (4) � <br /> Lu Z <br /> Q (2) (8) U <br /> d ( (2.38) (12) <br /> 3) '04 105 '06 '07 08 109 0 '1 1 '12 '13 '14 <br /> Source. _c ar&Wakefield!NorthMarq <br /> "Source: Northmarq January 2015 <br /> The industrial market continues to show signs of recovery with the larger drop in vacancy of <br /> the four major building sectors. The vacancy rate is sub-10%, which has been met with <br /> increasing new construction around the Twin Cities Metro Area. <br /> Nagell Appraisal&Consulting 1 952-544-8966 1 www.callnagell.com 11 <br />