Absorption is a measurement of the increase or decrease in occupied office space that occurs during a given period of time. Absorption in downtown Saint Paul’s Competitive office space from 2021 to 2022 is -78,962 square feet. Overall absorption is the same with no changes to the Government and Owner Occupied sections. In general, the reasons for positive or negative absorption include changes in occupancy, building reclassification, building re- measurement, and adjustments in square footage being offered for lease.
Absorption figures can be affected when there is economic disruption to the market. The Competitive absorption total was greatly affected by the Pandemic, and we continue to see an impact in 2022.