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You are the owner of a 75,000 square foot office building located within a market that is currently 15% vacant overall. The overall market has

You are the owner of a 75,000 square foot office building located within a market that is currently 15% vacant overall. The overall market has experienced net absorption of 100,000 square feet over the last 24 months, reducing vacancy from 18%. During that time no additional space was constructed and no space was retired. (1) What is the current size of the overall market, in square feet? (2) How much space is currently vacant? (3) How many months would it take, at current absorption rates, to acheive 7% overall market vacancy?

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