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 2017 to 2018 is -144,372 square feet. Overall absorption is -220,534.  In general, the reasons for positive absorption include changes in occupancy, building reclassification, building remeasurement, 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 Landmark Towers, Park Square Court, and the Capital Professional Office Building, of which, the latter two are being converted to hotel or residential space.

Absorption History