FY 2017 Budget Highlights

COMMERCIAL MARKET VACANCY As of 4th Quarter 2015: Overall vacancy was 10.1%, significantly lower than year end in 2011 at 15.9% Overall vacancy for the Washington, DC market was 12.3% in 2015 Total Commercial Vacancy Rates 18.0% 16.0% 14.0% The Flex and Industrial Markets had the ■Office, Flex, Industrial and Retail Vacany Rate largest decrease in vacancy rates from 2011- 2015 12.0% 10.0% 8.0% 6.0% www www 4.0% 2.0% 0.0% 2011 2012 2013 2014 2015 Class A office space along Carroll Creek Source: CoStar 27

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