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Regional Data -continued <br />OFFICE ABSORPTION, •AND VACANCY <br />ABSORPTION CONSTRUCTION i VACANCY <br />5 18:3 196 _ 19.9 <br />2018.0 17.416.1 15.2 15.2 15.9 16.6 <br />4 Ib <br />Z <br />3 12 <br />O <br />J <br />Z <br />2 8 <br />1.47 1 35 Z <br />0.95 0.97 4 <br />Q <br />I <br />3 0.I b <br />0.33 0.48 0.62 U0.52 <br />0.18 <br />0.52 <br />0.27 Q <br />LL 0 <br />0.00 0.00 0.02 0.00 E 0.00 0 <br />LU <br />015) <br />0.00) Z <br />Lii <br />I) 4) U <br />CLUY1.83) 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 <br />15.6 <br />177, <br />15.2 <br />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 <br />4 ~ <br />0.43 <br />0.27 0.30 Z <br />0.04 0.00 0.00 <br />0 Q <br />0 J <br />Ld Q <br />1) 7Fj 4) <br />Lu Z <br />Q (2) 8) U <br />d (2.38) <br />12)3) ' <br />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