Question 8 At the beginning of the year, the Tampa CBD office submarket had a total of 11.8 million square feet, of which 9.8 million were occupied. During the year, an additional 200,000 SF was added (new construction), and 1.2 million became occupied (new leases) while 800,000 SF became vacant (leases expired and tenants moved out). What is the approximate vacancy rate at the beginning of the year? O 10% O 11% O 12% O 14% 10 pts O 17%

At the beginning of the vear, the Tampa CBD office submarket had a total of 11.8 million square feet, of which 9.8 million were occupied. During the year, an additional 200,000 SF was added (new construction!. and 1.2 milfion became occupied (new leases) while 800,000 SF became vacant (leases expired and tenants moved out). What is the approximate vacancy rate at the beginning of the year? 10% 1156 12% 14% 178