Los Angeles County office market, 4th quarter 2006.

Los Angeles County Office Market, 4th Quarter 2006

                                                           Vacancy Rate

                                Total      Vacant Space      4th Qtr.
Market/Submarket              Inventory    (square ft.)        2006

Downtown L.A.                 33,465,129      4,712,956       14.1%
  Wilshire Center              7,515,704        483,365        6.4%
  Miracle/Park Mike            5,910,612        584,469        9.9%
Wilshire Corridor             13,426,316      1,067,834        8.0%
San Gabriel Valley            13,818,305      1,022,973        7.4%
  Burbank                      5,304,792        189,926        3.6%
  Glendale                     6,169,499        998,014       16.2%
  Pasadena                     7,012,071        329,592        4.7%
Tri-Cities                    18,486,362      1,517,532        8.2%
Hollywood/WeHo                 3,900,838        190,868        4.9%
  Beverly Hills                6,191,733        300,721        4.9%
  Brentwood                    3,520,978        140,102        4.0%
  Century City                 9,506,838        724,918        7.6%
  Manna/Culver City            5,542,830        363,009        6.5%
  Santa Monica                 7,650,764        419,408        5.5%
  West Los Angeles             5,864,543        475,316        8.1%
  Westwood                     3,112,243        206,663        6.6%
West Los Angeles              41,389,929      2,630,137        6.4%
Santa Clarita Valley           1,863,616        150,981        8.1%
  Central Valley               7,918,934        346,919        4.4%
  Conejo Valley **             6,663,156        384,659        5.8%
  East Valley                  2,845,575         82,162        2.9%
  West Valley                  7,973,107        703,697        8.8%
San Fernando Valley           25,400,772      1,517,437        6.0%
  190th Street Corridor        3,321,852        707,274       21.3%
  Carson                       1,118,668        193,629       17.3%
  El Seg./Beach Cities        10,950,182      1,427,763       13.0%
  LAX/Century Blvd.            3,913,487      1,227,496       31.4%
  Long Beach Downtown          4,067,138        388,694        9.6%
  Long Beach Suburban          4,627,665        356,495        7.7%
  Torrance Central             3,115,540        216,774        7.0%
South Bay                     31,114,532      4,518,125       14.5%
  L.A. County Total          182,865,799     17,328,843        9.5%

                                  Vacancy Rate
                                                             Under
                              3rd Qtr.       4th Qtr.     Construction
Market/Submarket                2006           2005       (square ft.)

Downtown L.A.                   14.3%          14.9%           0
  Wilshire Center                6.3%           7.3%           0
  Miracle/Park Mike             10.4%          10.1%           0
Wilshire Corridor                8.1%           8.5%           0
San Gabriel Valley               7.8%           9.4%         66,165
  Burbank                        4.2%           7.5%           0
  Glendale                      16.5%          13.9%           0
  Pasadena                       4.2%           6.0%           0
Tri-Cities                       8.3%           9.1%           0
Hollywood/WeHo                   5.5%          11.0%           0
  Beverly Hills                  4.2%           7.8%           0
  Brentwood                      5.5%           8.5%           0
  Century City                   7.8%          11.2%        790,121
  Manna/Culver City              7.3%           8.4%        115,000
  Santa Monica                   6.6%           7.0%         90,050
  West Los Angeles               7.6%           9.0%           0
  Westwood                       8.4%           8.2%           0
West Los Angeles                 6.8%           8.8%        995,171
Santa Clarita Valley             8.3%          10.9%        290,343
  Central Valley                 4.0%           5.3%           0
  Conejo Valley **               6.5%           6.8%           0
  East Valley                    3.2%           4.9%           0
  West Valley                    9.2%           9.6%           0
San Fernando Valley              6.0%           7.0%           0
  190th Street Corridor         17.3%          21.0%           0
  Carson                        17.0%          12.2%           0
  El Seg./Beach Cities          15.0%          17.9%           0
  LAX/Century Blvd.             29.8%          33.0%           0
  Long Beach Downtown            9.7%          13.1%           0
  Long Beach Suburban            8.1%          10.7%           0
  Torrance Central               7.1%           8.9%           0
South Bay                       14.6%          17.3%           0
  L.A. County Total              9.7%          11.2%       1,351,679

                                 Net Absorption (square ft.) (1)

                                4th Qtr.       3rd Qtr.       4th Qtr.
Market/Submarket                  2006           2006           2005

Downtown L.A.                     74,701       (105,366)       114,611
  Wilshire Center                 (9,379)        40,005         53,768
  Miracle/Park Mike               31,619         17,705         35,550
Wilshire Corridor                 22,240         57,710         89,318
San Gabriel Valley                54,476        177,972        160,547
  Burbank                         35,191         88,179         37,966
  Glendale                        18,673       (124,463)        69,069
  Pasadena                         8,833         31,322         52,561
Tri-Cities                        62,697         (4,962)       159,596
Hollywood/WeHo                    25,144         76,581         35,961
  Beverly Hills                  (34,311)        40,194        199,554
  Brentwood                       53,483         26,953         41,824
  Century City                    93,760        256,807         23,330
  Manna/Culver City               41,812         (3,942)        67,162
  Santa Monica                    86,833        (69,155)        44,416
  West Los Angeles               (30,827)       (31,006)        22,174
  Westwood                        55,693        (4,224)         12,118
West Los Angeles                 266,443        215,627        410,578
Santa Clarita Valley               2,053         14,625         37,710
  Central Valley                 (29,563)        59,966          1,398
  Conejo Valley **                46,284        163,618         36,941
  East Valley                      8,798         46,377         15,510
  West Valley                    (10,904)      (115,274)       148,855
San Fernando Valley               14,615        154,687        202,704
  190th Street Corridor          (56,892)        47,274        248,857
  Carson                          (3,089)         3,576        (11,759)
  El Seg./Beach Cities           210,179        105,035         45,167
  LAX/Century Blvd.              (62,653)       136,050        (1,635)
  Long Beach Downtown              4,194         73,216         66,383
  Long Beach Suburban             17,299           (290)        70,545
  Torrance Central                (2,931)        85,753         83,053
South Bay                        106,107        450,614        500,611
  L.A. County Total              628,476      1,037,488      1,711,636

                                     Class A Asking Rent (2)

                              4th Qtr.       3rd Qtr.       4th Qtr.
Market/Submarket                2006           2006           2005

Downtown L.A.                  $2.86          $2.82          $2.70
  Wilshire Center              $1.60          $1.60          $1.46
  Miracle/Park Mike            $2.83          $2.78          $2.43
Wilshire Corridor              $2.38          $2.35          $2.05
San Gabriel Valley             $2.54          $2.39          $2.20
  Burbank                      $3.01          $2.81          $2.77
  Glendale                     $2.58          $2.55          $2.47
  Pasadena                     $3.18          $3.00          $2.65
Tri-Cities                     $2.84          $2.73          $2.60
Hollywood/WeHo                 $3.15          $3.07          $2.54
  Beverly Hills                $3.47          $3.41          $2.98
  Brentwood                    $3.38          $3.10          $2.83
  Century City                 $3.39          $3.26          $3.02
  Manna/Culver City            $3.17          $2.92          $2.40
  Santa Monica                 $4.83          $4.34          $3.50
  West Los Angeles             $3.01          $2.87          $2.41
  Westwood                     $3.87          $3.43          $2.92
West Los Angeles               $3.49          $3.29          $2.90
Santa Clarita Valley           $2.56          $2.82          $2.38
  Central Valley               $2.47          $2.49          $2.22
  Conejo Valley **             $2.55          $2.41          $2.24
  East Valley                  $2.86          $2.85          $2.61
  West Valley                  $2.40          $2.36          $2.29
San Fernando Valley            $2.49          $2.47          $2.30
  190th Street Corridor        $2.27          $2.13          $2.10
  Carson                       $2.08          $2.08          $2.08
  El Seg./Beach Cities         $2.22          $2.25          $2.10
  LAX/Century Blvd.            $1.57          $1.57          $1.53
  Long Beach Downtown          $2.42          $2.20          $2.16
  Long Beach Suburban          $2.45          $2.38          $2.28
  Torrance Central             $2.31          $2.26          $2.19
South Bay                      $2.15          $2.11          $2.03
  L.A. County Total            $2.86          $2.78          $2.54