Louisville CBD Office Space Absorption                                                  December 2006

Year Total     
Space(1)		 New      
Space(2)		 Vacant Occupied Absorption Average
Vacancy
1983 5,423,015   813,134 4,609,881   15.0%
1984 5,719,309 296,294 793,433 4,925,876 315,995 13.9%
1985 5,807,147 87,838 722,482 5,084,665 158,789 12.4%
1986 5,995,883 188,736 702,323 5,293,560 208,895(3) 11.7%
1987 6,360,629 364,746 803,070 5,557,559 263,999 12.6%
1988 6,567,388 206,759 727,433 5,839,955 282,396 11.1%
1989 6,910,521 343,133 865,531 6,044,990 205,035(4) 12.5%
1990 6,890,859 -19,662 812,608 6,078,251 33,261 11.8%
1991 7,630,355 739,496 1,443,382 6,186,973 108,722 18.9%
1992 8,352,825 722,470 2,121,771 6,231,054 44,081 25.4%
1993 9,395,466 1,042,641(5) 2,307,452 7,088,014 856,960 24.6%
1994 9,245,443 -150,023(6) 1,804,591 7,440,852 352,838 19.5%
1995 9,522,799 277,356(7) 2,064,563 7,458,236 17,384 21.7%
1996 9,523,339 540 1,886,065 7,637,274 179,038 19.8%
1997 9,348,218 -175,121(8) 1,554,940 7,793,278 156,004 16.6%
1998 9,330,288 -17,930 1,517,822 7,812,466 19,188 16.3%
1999 9,083,555 -246,733(9) 1,318,292 7,765,263 -47,203 14.5%
2000 9,118,623 35,068 1,443,939 7,674,684 -90,579 15.8%
2001 8,956,156 -162,467 1,416,677 7,539,479 -135,205 15.8%
2002
9,131,612
175,456
1,847,176
7,284,436
-255,043
20.2%
2003
9,066,951
-64,661
1,928,390
7,138,561
-145,875
21.2%
2004
9,124,390
57,439
1,955,893
7,168,497
29,936
21.4%
2005
9,330,058
205,668
1,865,495
7,464,563
296,066
20.0%
2006
9,284,335
-45,723
1,824,268
7,460,067
-4,496
19.6%
Ten Year Average -23,900    

-17,721

footnotes