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<br />District Market Analysis <br /> <br />TABLE 7 <br />PROJECTED DEMAND FOR OFFICE SPACE <br />ARDEN HILLS MARKET AREA <br />2007 to 2015 <br /> <br />Demand from Projected Employment Growth <br /> <br />Projected increase in employment in the Arden Hills Market Area~ 2007 to 2015 <br />(times) Percentage of projected eluployment growth that will be office jobs <br />( equals) Projected increase of office jobs in the Market Area, 2007 to 20 I 5 <br /> <br />(tilues) 200 square feet of office space per elnployee <br /> <br />(equals ) Total Market Area otTice space demand fi'om growth, 2007 to 2015 <br /> <br />(times) Percent capturable in the study area <br />( equals) Projected office demand in 2007 to 20] 5 <br /> <br />(ll1inus) Available and planned cOlupetitive leasable office space in 2007* <br />(equals) Projected delnand for small business office space in Market Area <br /> <br />(tilDes) Estimated capture rate in the study area <br /> <br /> 5,919 new jobs <br />x 300/0 <br /> 1,776 new office <br />x 200 sq. ft./emp. <br /> 355,13 J <br />x 300/0 <br /> 106,539 <br /> } 20,076 sq. ft. <br /> -]3,537 sq. ft. <br />x 150/0 - 200/0 <br /> sq. ft. <br /> <br /> <br />*Estimated % of Market Area office space that would be competitive with the study area: <br />New Brighton -] 00/0; Roseville-250/o; Shoreview-500/0; Arden HiHs-] 000/0 <br /> <br />Source: Maxfield Research Inc. <br /> <br />20 October <br /> <br />3-9 <br /> <br />Guiding Plan for the ,B2 District <br />