Cushman & Wakefield Occupier Research - Oil: The Commodity We Love to Hate

UNITED STATES

MARKETS MARKET INDICATORS

NEW ORLEANS

DENVER

FORT WORTH

HOUSTON

Job Growth 0 20 40 60 Thousand people

-30 20 70 120 Thousand people

20 30 40

-10 -5 0 5 10 15 Thousand people

0 10

Thousand people

Office Absorption

0.0 0.5 1.0 1.5 2.0 2.5

-0.2 -0.1 0.0 0.1 0.2 0.3 0.4

-0.2 0.0 0.2 0.4 0.6 Million sq ft

-2.0 0.0 2.0 4.0 6.0 Million sq ft

Million sq ft

Million sq ft

Office Vacancy

5% 10% 15% 20%

15%

15%

5% 10% 15% 20%

10%

10%

5%

5%

Rent Growth (Q2 15 - Q2 16)

20%

20%

20%

20%

15%

15%

15%

15%

10%

10%

10%

10%

5%

5%

5%

5%

0%

0%

0%

0%

Landlord/Tenant (Q2 16) ( 5 year average availability ratio)

15% 20% 25% 30% 5% 10%

15% 20% 25% 30% 5% 10%

15% 20% 25% 30% 5% 10%

15% 20% 25% 30% 5% 10%

Rent Growth Forecast (Q2 16 - Q2 17)

Pipeline (Completions - Q2 16 - Q4 18)

9,127,548 sq ft

1,393,114 sq ft

773,109 sq ft

31,308 sq ft

Source: Moody’s, U.S. Bureau of Labor Statistics, Cushman & Wakefield Research

14 / Oil: The Commodity We Love to Hate