Assume an office market contains 100M SF of inventory and 10% of that the space is vacant. Google announces that it is expanding and it will hire 10,000 new workers. At the same time, a malpractice lawsuit against the law firm of Dewey, Cheetham and Howe results in the loss of 5,200 jobs and the closing of its offices. Assuming that office workers need 200 SF per person, what is the market vacancy rate after the net demand for office space is created?

1. 9.04%
2. 8.94%
3. 10.0%
4. No change