SAN FERNANDO VALLEY
INDUSTRIAL SPACE

Industrial Real Estate - San Fernando Valley
Source: Grubb & Ellis, Inc.

INDUSTRIAL SPACE VACANCY RATES

Industrial Space Vacancy Rate

Valley Sub-Market

1993

1994

1995

1996

1997

1998

East

10.0%

13.5%

10.7%

5.2%

3.1%

2.0%

Central

23.5%

23.8%

10.1%

9.9%

8.2%

3.3%

West

11.4%

13.2%

9.5%

6.7%

6.3%

6.2%

Source: Grubb & Ellis, Inc.

INDUSTRIAL SPACE RENTABLE SQUARE FEET

Industrial Space Rentable Square Feet

Valley Sub-Market

1993

1994

1995

1996

1997

1998

East

45,073,000

45,073,000

44,973,000

44,900,000

45,200,000

45,195,000

Central

23,842,000

23,842,000

23,742,000

21,842,000

22,000,000

22,234,000

West

30,198,000

30,098,000

29,698,000

30,198,000

30,225,000

30,442,000

Totals

99,113,000

99,013,000

98,413,000

96,940,000

97,425,000

97,871,000

Source: Grubb & Ellis, Inc.

Industrial Real Estate - San Fernando Valley
Source: CB Commercial Real Estate Group, Inc. 1998 Southern California Real Estate Forecast
Note: Data is based on all industrial buildings 10,000 square feet and greater.

INDUSTRIAL SPACE STATISTICS - 1997

Industrial Space Statistics - 1997

Community

Vacancy Rate

Available Sq. Feet

Rentable Sq. Feet

Annual Sales Leasing Activity

Arleta/Tujunga

8.8%

54,687

618,449

12,285

Burbank

3.2%

422,391

13,294,602

631,417

Calabasas

0.0%

0

1,051,020

0

Canoga Park

4.8%

321,503

6,639,585

84,149

Chatsworth

8.1%

1,701,054

20,911,587

1,695,444

Glendale

2.7%

228,630

8,375,924

132,605

Granada Hills

9.3%

4,070

43,598

0

Lakeview Terrace

0.0%

0

342,762

0

Mission Hills

5.8%

4,000

69,400

0

North Hollywood

7.6%

944,196

12,356,546

458,704

Northridge

3.7%

147,499

4,006,893

60,260

Pacoima

3.4%

189,167

5,508,753

243,135

Panorama City

0.0%

0

323,799

0

Reseda

2.9%

11,200

386,056

0

San Fernando

2.6%

117,720

4,518,942

243,425

Sepulveda

5.3%

43,466

815,623

0

Sherman Oaks

0.0%

0

38,817

0

Studio City

0.0%

0

26,686

0

Sun Valley/Sunland

3.8%

346,959

9,081,764

357,337

Sylmar

2.0%

145,640

7,131,490

429,311

Tarzana

3.4%

16,809

494,559

17,800

Van Nuys

6.4%

1,194,210

18,680,460

619,061

Woodland Hills

0.3%

10,488

3,705,557

89,910

Valley Total /Average

5.0%

5,903,689

118,422,872

5,074,843

Source: CB Commercial Real Estate Group, Inc. 1998 Southern California Real Estate Forecast
Note: Data is based on all industrial buildings 10,000 square feet and greater.