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WARREN & ASSOCIATES <br />�a h, <br />This section details the Planning Area's current office inventory, divided into general, medical, <br />and office condominium space. The inventory was obtained from Cabarrus County tax parcel <br />data. Office demand is also forecasted for 2008 to 2020 for the Planning Area, based on a <br />capture of Cabarrus County's projected office - occupying employment growth. <br />8.1 Office Inventory <br />The Planning Area has approximately 245,000 square feet of office space (Graph 17). General <br />office space totals 136,665 square feet, or 55.7% of the inventory. General office includes <br />privately owned multi - tenant and single- tenant space. Government owned office space is <br />excluded from this analysis as it is coded separately for tax purposes. Medical office occupies <br />83,405 square feet, or a 34.0% share. Owner - occupied office condominiums represent 25,089 <br />square feet. <br />As demonstrated in Table 23, approximately 51.8% of the total office inventory has been <br />completed since 2000. Until 2000, less than 22,000 square feet of general office space was <br />completed every decade. Office space is primarily concentrated along NC -49, with some recent <br />completions on Rocky River Road near the Brookdale development. <br />Table 23: Office Inventorv, Planning Area, 2009 <br />Before 1950 <br />16,603 <br />0 <br />0 <br />16,603 <br />6.8% <br />1950s <br />10,866 <br />0 <br />0 <br />10,866 <br />4.4% <br />1960s <br />16,773 <br />0 <br />0 <br />16,773 <br />6.8% <br />1970s <br />21,630 <br />0 <br />0 <br />21,630 <br />8.8% <br />1980s <br />8,206 <br />6,660 <br />0 <br />14,866 <br />6,1% <br />19905 <br />10,222 <br />27,329 <br />0 <br />37,551 <br />15.3% <br />2000s <br />52,365 <br />49,416 <br />25,089 <br />126,870 <br />51.8% <br />Source: Cabarrus County, Warren & Associates <br />March 2010 APPENDIX D: HALUP MARKET ANALYSIS 33 <br />AUGUST 2010 <br />Attachment number 2 <br />G -1 Page 442 <br />