Market Intelligence

West Office Market Second Quarter 2018

Inventory

West Area Map

Total Direct Absorption (Square Feet)

150,000

10

94

35W

8%

35E

100,000

50,000

694

169

94

0

12

WEST

394

38%

54%

94

(50,000)

(100,000)

494

35W

61

(150,000)

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2014 2015 2016 2017 2018

Direct Vacancy Rate

West Office Market Statistics 2018 Q2

Class C

Class A Class B

25%

TOTAL # OF BUILDINGS NRA VACANT SPACE SUBLEASE SPACE

PERCENT VACANT

% VACANT W/ SUBLEASE

2018 YTD TOTAL AVG RATE TOTAL OE & T

WEST

20%

Class A

32 4,980,763 576,476 58,132 11.60% 12.70% 38,990 $19.69 $14.42

15%

Class B

49 3,492,673 356,043 2,246 10.20% 10.30% 72,207 $14.54 $11.24

10%

5%

Class C

16 692,878 79,996

0

11.50% 11.50% -7,196 $9.59 $8.94

0%

Total West

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2014 2015 2016 2017 2018

97 9,166,314 1,012,515 60,378 11.00% 11.70% 104,001 $16.93 $12.77