Absorption

Vacancy should be viewed within the context of the absorption of the market. Absorption is a measurement (net increase or decrease) of office space occupied during a specific period. Total net office space absorption in downtown St. Paul in 2006 was a record 892,268 sq. ft. If absorption is tracked for competitive office space alone, downtown St. Paul had negative absorption of <151,282> sq. ft. due to tenants vacating multi-tenant space to move into owner occupied or government space.

In the past eleven years, 1,810,849 sq. ft. of net office space has been absorbed in downtown St. Paul. Th is represents an annual average absorption of approximately 164,623 sq. ft.