Significant Transactions. Romney Street, Charleston, $4,277,500 Sale of 5.87 Acres to 107 Brigade Street, LLC. (Jack V.

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1 OFFICE INDUSTRIAL RETAIL Market Report GREATER AREA NOVEMBER 2015 Market Indicators OCCUPANCY 1Q15 2Q15 3Q15 ABSORPTION Significant Transactions Romney Street, Charleston, $4,277,500 Sale of 5.87 Acres to 107 Brigade Street, LLC. (Jack V. Owens, CCIM) 1871 Ashley River Road, West Ashley, $1,974,000 Sale of 9.5 Acres to 1871 Ashley River Road, LLC for the Development of 174 Apartments. (R. Milton Thomas, III, CCIM, SIOR) 4567 Piggly Wiggly Drive, Unit C, North Charleston, 25,864 SF Warehouse Leased to McCorquodale Transfer, LLC. (Thomas G. Buist, Jr., SIOR) Bells Highway, Walterboro, 4,856 SF IHOP Restaurant Development Leased to JT Walterboro, LLC. (Will Sherrod, CCIM & Amanda Reeves, CCIM, LEED AP) 1Q15 2Q15 RENTAL RATE 3Q15 Riverlanding Drive, Daniel Island, $2,100,000 Sale of 2.43 Acres. (Reid Davis, CCIM, SIOR & Pete Harper, CCIM) 6333 Fain Street, North Charleston, Sale of a 12,000 SF Office/Warehouse Facility. (Ryan Welch & Doug Hart) 1Q15 2Q15 3Q15 Market Highlights Rental rates are on the rise. Large blocks of contiguous space are difficult to find. Nearly 350,000 SF of new office construction is underway in the tri-county area Bridgeview Drive, North Charleston, Lease Renewal of a 50,225 SF Office Building to NCO Financial Systems. (R. Milton Thomas, III, CCIM, SIOR) 0 East Bay Street & 655 East Bay Street, Charleston, $2,800,000 Assemblage, Rezoning and Sale of 1.0 Acre of Land. (Thomas G. Buist, Jr., SIOR & Jack V. Owens, CCIM) 203-A North Goose Creek Boulevard, Goose Creek, $575,000 Sale of a 2,605 SF Freestanding Restaurant to WD, LLC dba Dairy Queen. (Bob Nuttall, SIOR, CPM, Ryan Welch & Pete Harper, CCIM) 1127 N. Anderson Boulevard, North Carolina, Sale of a Rental Investment. (Will Sherrod, CCIM) Charleston remains a very desirable place to live and work. Although the commercial real estate market will remain complicated, the team at Lee & Associates is more than capable of keeping it simple for you. Let us show you how we put People First, Properties Second. Advantage: Lee!

2 OFFICE Charleston, Berkeley & Dorchester Counties # of Properties Total SF... 19,036,008 Total Available SF... 2,369,156 (12.2%) Total Vacant SF... 1,744,262 (9.2%) Average Rental Rates... $21.51/SF SUMMERVILLE Summerville / Goose Creek # of Properties Total SF... 1,391,160 Total Available SF ,946 (17.3%) Total Vacant SF ,975 (17.7%) Average Rental Rates... $19.85/SF North Charleston # of Properties Total SF... 7,361,246 Total Available SF... 1,183,639 (15.5%) Total Vacant SF ,332 (12.6%) Average Rental Rates... $19.27/SF Daniel Island # of Properties Total SF... 1,523,158 Total Available SF ,035 (8.3%) Total Vacant SF... 77,920 (5.1%) Average Rental Rates... $21.36/SF NORTH WEST ASHLEY West of the Ashley # of Properties Total SF... 1,498,741 Total Available SF ,401 (16.2%) Total Vacant SF ,163 (9.2%) Average Rental Rates... $19.64/SF DANIEL ISLAND JOHNS ISLAND JAMES ISLAND MOUNT PLEASANT Downtown # of Properties Total SF... 4,667,646 Total Available SF ,580 (6.6%) Total Vacant SF ,851 (5.5%) Average Rental Rates... $28.49/SF FOLLY BEACH Mount Pleasant # of Properties Total SF... 2,434,089 Total Available SF ,395 (9.1%) Total Vacant SF... 97,021 (4.0%) Average Rental Rates... $25.96/SF

3 RETAIL Charleston, Berkeley & Dorchester Counties # of Properties Total SF... 29,074,156 Total Available SF... 1,870,721 (6.4%) Total Vacant SF... 1,294,651 (4.5%) Average Rental Rates... $14.81/SF SUMMERVILLE Summerville / Goose Creek # of Properties Total SF... 7,222,874 Total Available SF ,016 (7.4%) Total Vacant SF ,111 (5.8%) Average Rental Rates... $13.27/SF North Charleston # of Properties Total SF... 8,443,316 Total Available SF ,770 (6.9%) Total Vacant SF ,616 (4.6%) Average Rental Rates... $11.46/SF Daniel Island # of Properties... 9 Total SF ,939 Total Available SF... 25,675 (6.4%) Total Vacant SF... 16,750 (4.3%) Average Rental Rates... $17.16/SF NORTH WEST ASHLEY West of the Ashley # of Properties Total SF... 7,174,615 Total Available SF ,380 (6.4%) Total Vacant SF ,008 (4.4%) Average Rental Rates... $15.70/SF DANIEL ISLAND JOHNS ISLAND JAMES ISLAND MOUNT PLEASANT Downtown # of Properties Total SF... 1,615,833 Total Available SF... 58,566 (3.6%) Total Vacant SF... 7,552 (0.5%) Average Rental Rates... $38.14/SF FOLLY BEACH Mount Pleasant # of Properties Total SF... 4,625,127 Total Available SF ,499 (4.3%) Total Vacant SF ,764 (2.8%) Average Rental Rates... $18.55/SF

4 INDUSTRIAL/FLEX Charleston, Berkeley & Dorchester Counties # of Properties... 1,125 Total SF... 60,199,348 Total Available SF... 8,114,146(12.4%) Total Vacant SF... 5,401,470 (9.0%) Average Rental Rates... $4.99/SF SUMMERVILLEE Summerville / Goose Creek # of Properties Total SF... 21,632,775 Total Available SF... 3,916,169 (16.4%) Total Vacant SF... 2,548,529 (11.8%) Average Rental Rates... $4.46/SF North Charleston # of Properties Total SF... 30,247,833 Total Available SF... 2,890,702 (9.5%) Total Vacant SF... 2,244,188 (7.4%) Average Rental Rates... $5.22/SF Daniel Island # of Properties Total SF... 4,943,689 Total Available SF... 1,309,620 (23.6%) Total Vacant SF ,040 (13.7%) Average Rental Rates... $5.87/SF NORTH WEST ASHLEY West of the Ashley # of Properties Total SF... 1,851,730 Total Available SF ,489 (6.2%) Total Vacant SF... 18,224 (1.0%) Average Rental Rates... $6.94/SF DANIEL ISLAND JOHNS ISLAND JAMES ISLAND MOUNT PLEASANT Downtown # of Properties Total SF... 1,057,456 Total Available SF ,102 (9.5%) Total Vacant SF... 70,102 (6.6%) Average Rental Rates... $17.70/SF FOLLY BEACH Mount Pleasant # of Properties Total SF ,389 Total Available SF... 73,175 (7.5%) Total Vacant SF... 50,300 (5.6%) Average Rental Rates... $9.47/SF

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6 960 Morrison Drive, Suite 400 Charleston, SC Lee & Associates provides brokerage, development and property management with a firm commitment to customer service. We get to know each client s business and specific needs. Moreover, we meet those needs with discipline, integrity and a genuine commitment to success. In everything we do, Lee & Associates places People First, Properties Second. BROKERAGE - MANAGEMENT - DEVELOPMENT Phone (843) Fax (843)