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E DBE ~C~NSU[..T11VC~ S~~av1cE~ <br />g <br />Office vacancies in Louisville have decreased slightly due to companies like Zayo, <br />GHX, and Envision occupying space in the market <br />o Office vacancy may decrease again when Gaiam completes their move into <br />the City and before we see Kable Fulfillment leave Louisville <br />o There is a desire to see additional office space in downtown. However, the <br />opportunity is limited due in part by the lack of available land and the cost of <br />land to develop new product in the downtown <br />o Lease rates for office space has stabilized, which indicates market stability <br />Industrial vacancies have increased slightly due to the amount of new construction <br />under way of spec space in CTC and CV <br />o The office flex space at 282 Century Drive falls within the industrial space <br />category <br />o The financing has affected the time line of basically all projects. There are a <br />number ofpre-approved buildings that will not be under construction until <br />they at least 50% or greater preleased <br />o Should the current financial market continue, will be not see many, if any spec <br />buildings built in 2009 <br />o Lease rates have held steady and absorption by companies like Promotech has <br />keep the vacancy rates down in Louisville <br />o Conoco Phillips presence in Louisville has caused a number of alternative <br />energy companies to look along the US 36 corridor for space. <br />Retail vacancies have slightly decreased this year <br />o The redevelopment of the former State Farm building in Centennial Valley is <br />a great success in Louisville. The lease activity has been good and tenants are <br />now operating in the new space <br />o Smaller businesses, particularly restaurants and personal service providers <br />will see a decline in business due to current economic conditions and be <br />challenged to survive. <br />o Shop Louisville efforts have created an awareness by residents (as indicated in <br />the Citizen Survey) of the importance in shopping locally <br />o It is not likely Louisville will see new retail or significant reinvestment in <br />2009 until Northend and Takoda are well underway <br />~aEi r~~:~~ ~T~~~~r - C~~:s~ef~sa, G[~~cs~zar~ca ~37c=y - .~a ? - ~~:~s~vc.ir~~c ~a.r, ~~ va,rttc~.cz~~ <br />6 <br />