Louisville CBD Class A Office Space Absorption                                           December 2007

Year Total     
Space(1)		 New      
Space(2)		 Vacant Occupied Absorption Average
Vacancy
1983 2,167,107   327,151 1,839,956   15.1%
1984 2,167,107 0 307,100 1,860,007 20,051 14.2%
1985 2,167,107 0 205,500 1,961,607 101,600 9.5%
1986 2,167,107 0 134,364 2,032,743 71,136(3) 6.2%
1987 2,182,123 15,016 146,204 2,035,919 3,176 6.7%
1988 2,182,123 0 129,924 2,052,199 16,280 6%
1989 2,461,995 279,872 160,270 2,301,725 249,526 6.5%
1990 2,461,995 0 169,299 2,292,696 -9,029 6.9%
1991 2,570,995 109,000 159,748 2,411,247 118,551 6.2%
1992 3,204,645 633,650 458,404 2,746,241 334,994 14.3%
1993 3,675,802 471,157(4) 563,800 3,112,002 365,761 15.3%
1994 3,566,802 -109,000(5) 398,808 3,167,994 55,992 11.2%
1995 3,675,313 108,511(6) 497,714 3,177,599 9,605 13.5%
1996 3,675,853 540 329,458 3,346,395 168,796 9%
1997 3,567,342 -108,511(7) 113,362 3,453,980 107,585 3.2%
1998 3,502,342 -65,000(8) 115,622 3,386,720 -67,260 3.3%
1999 3,502,342 0 194,966 3,307,376 -79,344 5.6%
2000 3,502,342 0 230,512 3,271,830 -35,546 6.6%
2001
3,507,625
5,283
244,022
3,263,603
-8,227
7.0%
2002
3,539,667
32,042
379,426
3,160,241
-103,362
10.7%
2003
3,539,667
0
392,133
3,147,534
-12,707
11.1%
2004
3,535,667
-4,000
411,876
3,123,791
-23,743
11.6%
2005
3,527,363
-8,304
354,970
3,172,393
48,602
10.1%
2006
3,527,363
0
353,348
3,174,015
1,622
10.0%
2007
3,547,576
20,213
274,152
3,273,424
99,409
7.7%
Ten Year Average -1,977     -18,056 footnotes