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Office Statistics // WestWEST Palm BeachPALM | Q4 2014 BEACH OFFICE Q4 2014 YTD completion (sf) Inventory (sf) Direct net absorption (sf) YTD direct net absorption (sf) Total net absorption (sf) YTD total net absorption (sf) YTD total net absorption (% of stock) Direct vacancy (sf) Direct vacancy (%) Total vacancy (sf) Total vacancy (%) Average asking rent ($ psf) Under construction / renovation (sf) West Palm Beach Class A 0 3,104,040 -6,309 59,136 -6,309 62,893 2.0% 536,521 17.3% 553,967 17.8% $35.16 0 Class B 0 2,773,442 -28,102 44,428 -31,279 47,596 1.7% 574,891 20.7% 579,367 20.9% $22.53 0 Totals 0 5,877,482 -34,411 103,564 -37,588 110,489 1.9% 1,111,412 18.9% 1,133,334 19.3% $28.59 0 Suburban Class A 0 7,678,988 163,299 301,008 140,869 288,298 3.8% 1,262,591 16.4% 1,288,521 16.8% $31.88 0 Class B 0 6,937,611 102,427 245,407 97,550 237,585 3.4% 1,568,995 22.6% 1,581,031 22.8% $23.95 0 Totals 0 14,616,599 265,726 546,415 238,419 525,883 3.6% 2,831,586 19.4% 2,869,552 19.6% $27.72 0 Class A 0 10,783,028 156,990 360,144 134,560 351,191 3.3% 1,799,112 16.7% 1,842,488 17.1% $33.10 0 Class B 0 9,711,053 74,325 289,835 66,271 285,181 2.9% 2,143,886 22.1% 2,160,398 22.2% $25.34 0 Totals 0 20,494,081 231,315 649,979 200,831 636,372 3.1% 3,942,998 19.2% 4,002,886 19.5% $28.96 0 Market Totals West Palm Beach Office Statistics - Q4 2014 • 2 West Palm Beach // WEST PALM BEACH CBD YTD total net absorption (sf) YTD total net absorption (% of stock) Direct vacancy (sf) Direct vacancy (%) Total vacancy (sf) Total vacancy (%) Average asking rent ($ psf) Under construction / renovation (sf) 7,377 81,546 3.8% 337,263 15.8% 354,709 16.6% $38.46 0 10,771 40,198 6.1% 133,135 20.3% 133,135 20.3% $23.02 0 121,744 4.4% 470,398 16.9% 487,844 17.5% $34.20 0 171,763 19.8% 171,763 19.8% $28.68 0 200 East Broward Boulevard Fort Lauderdale, FL 33301 tel +1 954 233 3427 fax +1328,705 954 760 4845 [email protected] -30,111 27,697 Suite 1030-30,111 26,398 1.7% 20.6% 330,004 20.7% $22.38 0 20.4% $24.20 0 Direct net absorption (sf) YTD direct net absorption (sf) Total net absorption (sf) YTD completion (sf) Inventory (sf) Class A 0 2,133,596 7,377 77,789 Class B 0 657,174 10,771 40,198 Totals 0 2,790,770 18,148 117,987 18,148 -13,686 -21,489 CBD Outer Class A 0 865,468 Class B 0 1,597,262 Totals 0 2,462,730 -43,797 6,208 Research Manager, Florida -13,686Marc L. Miller -21,489 -2.5% -43,797 4,909 0.2% 500,468 20.3% 501,767 © 2014 Jones Lang LaSalle IP, Inc. All rights reserved. Palm Beach (Island)* Class A 0 104,976 0 2,836 0 2,836 2.7% 27,495 26.2% 27,495 26.2% $62.03 0 Class B 0 519,006 -8,762 -23,467 -11,939 -19,000 -3.7% 113,051 21.8% 116,228 22.4% $56.73 0 Totals 0 623,982 -8,762 -20,631 -11,939 -16,164 -2.6% 140,546 22.5% 143,723 23.0% $57.66 0 Class A 0 3,104,040 -6,309 59,136 -6,309 62,893 2.0% 536,521 17.3% 553,967 17.8% $35.16 0 Class B 0 2,773,442 -28,102 44,428 -31,279 47,596 1.7% 574,891 20.7% 579,367 20.9% $22.53 0 Totals 0 5,877,482 -34,411 103,564 -37,588 110,489 1.9% 1,111,412 18.9% 1,133,334 19.3% $28.59 0 Market Totals *Asking rents not included in Market Total weighted average // 42