A Study of Portsmouth’s Office Market: Spring 2000 – Spring 2007
By Steven H. Berg, MAI, SRA

Office Space (SF): Existing & Under Construction
	Downtown			Pease			Suburban			Total
	SF	%	Change	SF	%	Change	SF	%	Change	SF	%	Change
2000	809,474	28.7%	--	648,854	23.0%	--	1,361,583	48.3%	--	2,819,911	100%	--
2001	823,818	25.8%	1.8%	953,011	29.9%	46.9%	1,410,263	44.2%	3.6%	3,187,092	100%	13.0%
2002	823,818	24.3%	0.0%	1,150,895	34.0%	20.8%	1,410,263	41.7%	0.0%	3,384,976	100%	6.2%
2003	823,818	23.7%	0.0%	1,225,895	35.2%	6.5%	1,432,703	41.1%	1.6%	3,482,416	100%	2.9%
2004	814,893	24.5%	-1.1%	1,238,906	37.2%	1.1%	1,278,615	38.4%	-10.8%	3,332,414	100%	-4.3%
2005	818,143	23.8%	0.4%	1,324,060	38.6%	6.9%	1,290,651	37.6%	0.9%	3,432,854	100%	3.0%
2006	825,285	23.8%	0.9%	1,324,060	38.2%	0.0%	1,314,651	38.0%	1.9%	3,463,996	100%	0.9%
2007	824,158	23.4%	-0.1%	1,376,060	39.1%	3.9%	1,314,651	37.4%	0.0%	3,514,869	100%	1.47%
Average	820,426	24.7%		1,155,218	34.7%		1,351,673	40.6%		3,327,316	100%
Existing Office Space (SF)
	Downtown			Pease			Suburban			Total
	SF	%	Change	SF	%	Change	SF	%	Change	SF	%	Change
2000	775,168	29.0%	--	532,734	20.0%	--	1,361,583	51.0%	--	2,669,485	100%	--
2001	809,474	28.3%	4.4%	656,791	23.0%	23.3%	1,395,263	48.8%	2.5%	2,861,528	100%	7.2%
2002	823,818	26.3%	1.8%	898,675	28.7%	36.8%	1,409,663	45.0%	1.0%	3,132,156	100%	9.5%
2003	823,818	24.6%	0.0%	1,108,675	33.2%	23.4%	1,410,263	42.2%	0.0%	3,342,756	100%	6.7%
2004	814,893	25.2%	-1.1%	1,176,229	36.4%	6.1%	1,237,595	38.3%	-12.2%	3,228,717	100%	-3.4%
2005	814,893	25.1%	0.0%	1,195,770	36.9%	1.7%	1,230,067	38.0%	-0.6%	3,240,730	100%	0.4%
2006	818,143	24.6%	0.4%	1,261,644	38.0%	5.5%	1,240,251	37.4%	0.8%	3,320,038	100%	2.4%
2007	804,578	23.5%	-1.7%	1,311,341	38.2%	3.9%	1,314,651	38.3%	6.0%	3,430,570	100%	3.3%
Average	810,598	25.7%		1,017,732	32.3%		1,324,917	42.0%		3,153,248	100%
Office Space Under Construction (SF)
	Downtown			Pease			Suburban			Total
	SF	%	Change	SF	%	Change	SF	%	Change	SF	%	Change
2000	34,306	22.8%	--	116,120	77.2%	--	0	0.0%	--	150,426	100%	--
2001	14,344	4.4%	-58.2%	296,220	91.0%	155.1%	15,000	4.6%	n/a	325,564	100%	116.4%
2002	0	0.0%	-100.0%	252,220	99.8%	-14.9%	600	0.2%	-96.0%	252,820	100%	-22.3%
2003	0	0.0%	n/a	117,220	83.9%	-53.5%	22,440	16.1%	3640.0%	139,660	100%	-44.8%
2004	<