Absorption

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 2016 to 2017 is -158,233 square feet. Overall absorption is -324,818.  In general, the reasons for positive absorption include changes in occupancy, building reclassification, building re-measurement, and adjustments in square footage being offered for lease. Absorption figures are negatively impacted when buildings are removed from the total universe.  The Competitive absorption total was negatively impacted by the loss of leased space in 180 E. 5th St., Cray Plaza and Park Square Court, of which, the latter is being converted to a hotel.  Overall absorption was negatively impacted by the Travelers and Ecolab transaction and the shifting of office space that ensued.

Absorption History