Solid Start to 2018, Industrial Vacancy Improves Again

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1 Research & Forecast Report CHICAGO INDUSTRIAL First Quarter 8 Solid Start to 8, Industrial Vacancy Improves Again Craig Hurvitz Vice President Chicago Chicago's industrial market witnessed 6.9 million square feet of new leases and lease expansions during the first quarter of 8. This activity, combined with fewer vacant construction deliveries compared to recent quarters, resulted in the vacancy rate improving by basis points to 6.67 percent. Net absorption, an indicator used to measure demand in the market, totaled. million square feet between January and March, the th quarter in a row this index has been positive. Market Indicators CHICAGO INDUSTRIAL MARKET Q 8 Q 7 Q 7 VACANCY RATE 6.67% 6.8% 6.9% NET ABSORPTION (SF),6,,7,,66,7 NEW SUPPLY (SF),7,999,8,6,,79 UNDER CONSTRUCTION (SF) 7,8,9 9,8,6 8,69,9 NEW LEASING ACTIVITY (SF) 6,,7 7,7,9 7,, AVG ASKING RENTAL RATE $.66 $.66 $.67 Fourteen construction projects totaling.7 million square were completed during the first quarter of 8, leaving only projects totaling 7. million square feet under construction. This represents the least amount of space under development since. Vacancy & Absorption» The vacancy rate has decreased by 8 basis points over the past two quarters to 6.67 percent.» Following three quarters of vacancy rate rises due to the completion of numerous vacant speculative projects, the rate is now approaching the low of 6.9 percent recorded one year ago during the first quarter of 7. Vacancy Rate Vacancy Rate & Net Absorption % % 9% 6% % 6 7 Net Absorption by Submarket 7 YTD Net Absorption (millions of SF)» Popular infill submarkets, including O'Hare and Central DuPage, continue to set new vacancy rate record lows » Meanwhile, the vacancy rate is rising in big box submarkets that have seen significant speculative development, including the I- Corridor and I-8 Joliet Corridor.» Net absorption totaled. million square feet during the first quarter of 8, the strongest first quarter tally since 6. Net Absorption (millions of SF) » Net absorption has now been positive for consecutive quarters. In that time, net absorption has totaled 9 million square feet. I-8/Joliet Corridor I- Corridor I- South Central DuPage County Far South Suburbs Southeast Wisconsin Chicago South I-88 Corridor Northwest Suburbs Elgin I- Corridor Fox Valley O'Hare I-9 Corridor Lake County DeKalb County Chicago North Northwest Indiana North Suburbs Rockford Area South Suburbs McHenry County I- North Research & Forecast Report First Quarter 8 Chicago/Industrial Colliers International

2 New Construction» At the end of the first quarter of 8, buildings totaling 7. million square feet were under construction, the smallest amount since.» Infill development, or the re-development of already largelydeveloped sites, accounted for 7 of the projects under construction.» Only six construction starts were initiated during the first quarter of 8 totaling. million square feet.» Despite the limited amount of new starts due to frozen ground, a new surge of development activity is expected to begin over the next six months. Leasing & Sale Activity» New leasing activity, which includes new leases and lease expansions, totaled 6.9 million square feet among leases between January and March.» Eight new lease or lease expansions greater than, square feet were signed during the first quarter of 8.» The largest new lease involved Uline leasing a recentlycompleted 7,8-square-foot speculative facility in Pleasant Prairie, Wisconsin.» The largest user sale of the first quarter of 8 involved DS Containers purchasing its,9-square-foot build-to-suit facility from CenterPoint Properties. Forecast» A new wave of development, consisting of projects totaling million square feet, is expected to break ground during the next six months. of these projects will be infill development.» With relatively limited new supply anticipated over the next two quarters, demand may outpace the effects of new supply, resulting in additional improvements to the vacancy rate.» E-commerce and "last mile" delivery service will continue to focus demand on submarkets close to the city of Chicago due to users' needs to serve the city population.» Several potential big box transactions remain in the pipeline. The timing of when these large leases are signed will have an impact on the overall market over the coming quarters. Chicago Industrial Market Largest Q 8 New Lease Transactions TENANT SIZE (SF) ADDRESS TYPE Whirlpool Corporation,,8 8 Youngs Road, Joliet Lease expansion/renewal Uline, Inc. 7,8 9 8th Avenue, Pleasant Prairie New lease Clorox,9 7 Commerce Center Drive, University New lease RJW Transport, Inc. 6,6 6 Internationale way, Woodridge New lease Royal Box, S th Avenue, Cicero New lease Home Depot,6 Brandon Road, Joliet New lease Chicago Industrial Market Largest Q 8 Sale Transactions BUYER SIZE (SF) ADDRESS TYPE Blackstone Real Estate Income Trust,,8 Chicago-area properties Part of a -property national investment portfolio sale Blackstone Real Estate Income Trust,69,6 industrial buildings, Aurora -property investment portfolio sale High Street Realty Company, LLC,77, Chicago-area properties -property local investment portfolio sale Investcorp International, Inc.,6 Chicago-area properties -property local investment portfolio sale DS Containers Inc,9 Enterprise Circle, West Chicago User sale/tenant exercised purchase option Historical New Supply Millions of Square Feet YTD 8 Active Spec,,8 7,88,97,87,,8,9,77,,8,69 BTS 6,,9 8,8,9 8,76,,,,96,98,97,8 Demo -,,67 -,,79 -,66,7 -,,7 8,8 Chicago Industrial Market Largest Active Construction Projects* TYPE SIZE (SF) ADDRESS DEVELOPER Speculative,, Rock Creek Logistics Center, Joliet The Opus Group Build-to-suit 8, Antioch Corporate Center, Antioch IDI Logistics Build-to-suit, Reed Road, Coal City Hoffman Transportation Build-to-suit 8,9 Torrence Avenue & 6th Street, Chicago CenterPoint Properties Speculative,99 First Joliet Logistics Center, Joliet First Industrial Realty Trust Speculative,696 7 Seymour Avenue, Franklin CenterPoint Properties Build-to-suit 6, Brewster Creek Business, Bartlett Rana USA, Inc. Speculative, S th Avenue, Cicero Bridge Development Partners Speculative 96,8 87 S Ridgeland Avenue, Tinley Hillwood Investment Properties *Partial list, additional projects not included on list

3 Chicago Industrial Market Map East Troy Milton JOHN H BATTEN MEMORIAL AIRPORT Rochester Union Grove Mount Pleasant SYLVANIA AIRPORT 9 BURLINGTON MUNICIPAL AIRPORT Janesville Racine Burlington Delavan Kenosha Regional Kenosha 9 Beloit Pleasant Prairie Westosha WISCONSIN Zion Waukegan Regional Fox Lake Waukegan Rockford Grayslake McHenry 9 Belvidere Mundelein Crystal Lake Cherry Valley Vernon Hills Lake Forest Lake Zurich Highland Buffalo Grove Hampshire 7 Elgin 9 Sycamore Glencoe Northbrook Palatine Dundee South Elgin 9 Chicago Executive Arlington Heights 9 Evanston Des Plaines Schaumburg Chicago North Chicago South O Hare North Suburbs Lake County Central DuPage Northwest Suburbs I- North I- South South Suburbs Elgin I- McHenry County Fox Valley I-88 Corridor I- Corridor DeKalb County Far South Suburbs Northwest Indiana Southeast Wisconsin I-8/Joliet Corridor I-9 Corridor Rockford Area Skokie Streamwood DeKalb Bensenville chelle Dupage 88 St Charles 6 9 Elmhurst West Chicago Stream Chicago Batavia 9 North Aurora Sugar Grove 88 Naperville Aurora Montgomery Downers HinsdaleLa Grange Chicago Midway Grove Burr Bedford Ridge Woodridge Willow Springs Oak Lawn Oswego 9 Palos Heights Yorkville Plainfield East Chicago Porter Gary/Chicago Crest Hill Gary Lockport Mokena Joliet Hammond Hazel Crest Tinley Munster Matteson New Lenox Channahon Elwood La Salle 7 Morris Ottawa INDIANA University Monee ILLINOIS 8 Forest Minooka Schererville Merrillville 8 Valparaiso Peotone Seneca Table of Contents Submarket Overviews Central DuPage Chicago Elgin I- Corridor Fox Valley I- North 6 8 I- South I- Corridor I-8 Joliet Corridor I-88 Corridor Lake County 6 8 Research & Forecast Report First Quarter 8 Chicago/Industrial Colliers International North Suburbs Northwest Suburbs O Hare South Suburbs Southeast Wisconsin 6 8

4 Central DuPage Quarter in Review» The Central DuPage vacancy rate reached a new record low during the first quarter of 8, decreasing by 8 basis points to.8 percent. This is now the seventh consecutive quarter the vacancy rate has improved, largely due to significant leasing activity.» Net absorption totaled,8 square feet between January and March, the third quarter in a row the submarket has recorded a positive net absorption tally. During those three quarters, net absorption has measured nearly. million square feet.» Vacant space totaled only. million square feet by the end of the first quarter of 8, the least amount of vacant space to be recorded in Central DuPage since records have been kept. Only one space larger than, square feet is available in the submarket.» While no buildings are currently under development, two speculative projects are expected to begin construction during the second quarter of 8. Duke Realty Corporation will be building a 8,-square-foot facility in Glendale Heights, while Venture One Real Estate will soon begin construction on a 8,-square-foot building in Elmhurst.» New leases and lease expansions totaled 68,88 square feet during the first quarter of 8, the third quarter in a row with more than 6, square feet of new leasing activity. The largest new lease involved RIM Logistics taking the remaining 77, square feet at 6 Muirfield Court in Hanover.» Several Central DuPage buildings traded during the first quarter of 8, several of which were part of large investment portfolio sales. The largest involved the 7,6-square-foot building at 88 S Rohlwing Road in Addison purchased by Blackstone Real Estate Income Trust, Inc. as part of a national investment portfolio sale that involved 6 properties. Forecast Developers and investors alike continue to be attracted to the Central DuPage submarket due to its ideal location and record low vacancy rate. Infill development will increase over the coming quarters and those buildings will lease quickly once completed due to elevated demand for space, especially modern product, in the area. Submarket Indicators CENTRAL DUPAGE Q 8 Q 7 Q 7 VACANCY RATE.8%.86%.% NET ABSORPTION (SF),8 8,6 78,99 NEW SUPPLY (SF) UNDER CONSTRUCTION (SF) 8,6 NEW LEASING ACTIVITY (SF) 68,88 8,79 69,7 AVG ASKING RENTAL RATE $.8 $.67 $. Vacancy Rate & Net Absorption Vacancy Rate % % % 8% 6% % % Available Space for Lease Profile,-99,999 SF,-99,999 SF,-99,999 SF,-99,999 SF,+ SF 6 Vacant Occupied Under Construction Largest Available Spaces for Lease MAP SIZE (SF) ADDRESS 8,6 6 North Avenue, Carol Stream 7,97 N Mitchell Court, Addison 8,89 N County Line Road, Elmhurst 6, 6 Muirfield Court, Hanover 6, 6-6 Muirfield Court, Hanover 7 YTD Net Absorption (millions of SF)

5 Skokie Streamwood Elk Grove Village Wood Dale Ohare Int'l 9 West Chicago Bloomingdale Addison 6 Carol Stream Bensenville Elmhurst Franklin Northlake Melrose Oak Lease transaction Sale transaction Active construction project Large available block of space Downers Grove Central DuPage Significant Q 8 Lease Transactions Hinsdale 9 Westchester McCook Cicero Chicago omid Midway MAP TENANT SIZE (SF) ADDRESS TYPE RIM Logistics Ltd. 77, 6 Muirfield Court, Hanover New lease Tonyk Toys, LLC 99, 9 Windsor Court, Addison Lease renewal TST/Impreso, Inc. 88,6 S Lombard Road, Addison Lease renewal TCF 6, 869 S Route, Addison Lease expansion/renewal Nefab Packaging Inc, 9 Hunter Road, Hanover New lease 6 HSW,9 Vista Avenue, Addison New lease Central DuPage Significant Q 8 Sale Transactions MAP BUYER SIZE (SF) ADDRESS TYPE Blackstone Real Estate Income Trust 7,6 88 S Rohlwing Road, Addison Part of an -property national investment portfolio sale Investcorp International, Inc., Commerce Drive, Carol Stream Part of a -property local investment portfolio sale Blackstone Real Estate Income Trust 88, 8-8 Tubeway Drive, Carol Stream Part of an -property national investment portfolio sale The Silverman Group 87,9 S Church Street, Addison Investment sale Clear Height Properties,9 Vista Avenue, Addison Investment sale Historical New Supply Square Feet,, 8, 6,,, Central DuPage Active Construction Projects MAP TYPE SIZE (SF) ADDRESS DEVELOPER None to report -, -, 6 7 YTD 8 Active Spec,9 6, 8,6 BTS 88,,7 Demo -,77-9, Research & Forecast Report First Quarter 8 Chicago/Industrial Colliers International

6 Chicago Quarter in Review» The Chicago North and Chicago South vacancy rates both improved during the first quarter of 8.» In the Chicago North submarket, the vacancy rate decreased by five basis points to. percent, the lowest rate recorded since the first quarter of 7 when it stood at.6 percent. The Chicago South vacancy rate decreased by 68 basis points between January and March to 8.9 percent, the first time this rate has been below the 9. percent threshold since.» Net absorption in the Chicago South submarket totaled 8,9 square feet, the second greatest quarterly tally since. Net absorption was slightly negative in the Chicago North submarket, totaling negative 9,8 square feet.» Two projects were delivered in the Chicago South submarket during the first quarter of 8. The larger of the two is a,-squarefoot distribution facility for Whole Foods in Chicago's Pullman neighborhood. A 7,-square-foot build-to-suit facility for Banner Wholesale Grocers was delivered at 69 S Damen Avenue.» Floors are poured and construction is nearly complete on a 8,9-square-foot build-to-suit facility for Chinese-based rail car manufacturer CRCC Sifang America, RMCA in Chicago's Hegewisch neighborhood on the southeast side.» New leasing activity was strongest in the Chicago South submarket between January and March. The largest new lease of the quarter involved glass and metal packaging provider Ardagh Group leasing the entire,8-square-foot building at E 8th Street.» The largest sale of the quarter involved Sterling Bay purchasing the,-square-foot industrial building at 68 N Throop Street. The building was formerly used as a Department of Fleet & Facility Management storage site and sits on 8 acres. Forecast The industrial landscape in the city of Chicago continues to react to demand as redevelopment projects consume entire neighborhoods and old industrial areas are transformed into modern office, retail, and multifamily hot-spots. As a result, both speculative and build-to-suit development has picked up to serve those long-established industrial users leaving their old neighborhoods. Additional speculative projects are expected to break ground in the coming months. Submarket Indicators CHICAGO NORTH Q 8 Q 7 Q 7 VACANCY RATE.%.8%.6% NET ABSORPTION (SF) -9,8 -,6-8, NEW SUPPLY (SF) UNDER CONSTRUCTION (SF),7 NEW LEASING ACTIVITY (SF) 88,68 8, AVG ASKING RENTAL RATE $7.8 $7.9 $8.7 Submarket Indicators CHICAGO SOUTH Q 8 Q 7 Q 7 VACANCY RATE 8.9% 9.6% 9.9% NET ABSORPTION (SF) 8, -6,9 -,7, NEW SUPPLY (SF), 66,9 UNDER CONSTRUCTION (SF) 8,9, 9, NEW LEASING ACTIVITY (SF),69 86, 67, AVG ASKING RENTAL RATE $.8 $. $.9 Vacancy Rate & Net Absorption Vacancy Rate 8% % % 9% 6% % % Available Space for Lease Profile,-99,999 SF,-99,999 SF,-99,999 SF,-99,999 SF,+ SF Chicago North Net Absorption Chicago North Vacancy 6 7 Chicago South Net Absorption Chicago South Vacancy YTD Vacant Occupied Under Construction -. Net Absorption (millions of SF) 6

7 Bloomingdale Carol Stream Addison Elk Grove Village Wood Dale Elmhurst Ohare Int'l 9 Northlake Franklin Melrose Niles 9 Oak 6 Skokie Chicago North 9 Chicago 88 Westchester Cicero Downers Grove Woodridge McCook Bedford Chicago Midway Chicago South Bolingbrook Lease transaction Sale transaction Active construction project Palos 9 Alsip Blue 7 9 Chicago Significant Q 8 Lease Transactions MAP TENANT SIZE (SF) ADDRESS TYPE Ardagh Group,8 E 8th Street, Chicago New lease MWD Logistics,9-8 E 97th Street, Chicago Lease renewal National Express 99,8 W rd Street, Chicago New lease R86 6,7 W th Street, Chicago New lease Snap6, 6-69 W Walnut Street, Chicago New lease 6 Goodman Distribution, Inc., N Knox Avenue, Chicago New lease Chicago Significant Q 8 Sale Transactions MAP BUYER SIZE (SF) ADDRESS TYPE Sterling Bay Companies, 68 N Throop Street, Chicago Investment sale AR Global Investments, LLC 9,6,, & S Kolin Avenue, Chicago -building investment sale Prairie Management & Development 8, - W Polk Street, Chicago -building user sale Axium Resources, LLC, 66 S Oak Avenue, Chicago User sale Historical New Supply Millions of Square Feet Chicago Active Construction Projects MAP TYPE SIZE (SF) ADDRESS DEVELOPER Build-to-Suit 8,9 Torrence Avenue & 6th Street, Chicago CenterPoint Properties YTD 8 Active Spec 6,68 6,9 BTS 66,66 6, 7,6 7,, 8,9 Demo -767, -89,67 8,89 -,6,,68 7 Research & Forecast Report First Quarter 8 Chicago/Industrial Colliers International

8 Elgin I- Corridor Quarter in Review» The Elgin I- Corridor vacancy rate improved again during the first quarter of 8, decreasing by 7 basis points to 8.9 percent. This rate has now been improving for three quarters in a row and is 9 basis points below the.6 percent rate recorded one year ago.» Total vacant space measured.7 million square feet at the end of March, the least amount of vacant space the submarket has recorded since the first quarter of. Few big box spaces are available; there are only two options for users looking for, square feet or more.» One construction project completed during the first quarter of 8 for employee-owned Haumiller Engineering. The high-speed custom machinery manufacturer took occupancy of its,6-square-foot build-to-suit at 7 Joseph Drive in South Elgin.» Only one building is currently under construction, a 7,-squarefoot build-to-suit facility for German-based specialty cable and wire manufacturer Helukabel in West Dundee's Oakview Corporate.» New leasing activity totaled, square feet between January and March, slightly below the total recorded last quarter, but a percent increase compared to the new leasing total one year ago. The city of Elgin captured all of the new leasing activity recorded during the quarter.» The largest new lease involved Marketing Alternatives expanding by 7,6 square feet at -6 Northwest way in Elgin's Northwest Corporate. The tenant now occupies 7,78 square feet in the building.» The largest sale during the first quarter of 8 involved the acquisition of the,-square-foot warehouse at 77 Gifford Road in Elgin by Brennan Investment Group. The building was the largest asset in a -property national investment portfolio sale that included fully-leased buildings mainly in the Midwest. Forecast Further improvement to the vacancy rate is expected over the coming quarters due to elevated demand and no speculative construction deliveries expected before year-end. Thereafter, speculative development may return as three projects totaling just over, square feet are in the planning stages. Submarket Indicators ELGIN I- CORRIDOR Q 8 Q 7 Q 7 VACANCY RATE 8.9% 8.76%.6% NET ABSORPTION (SF) 66,6 9,8 7, NEW SUPPLY (SF),6 8, UNDER CONSTRUCTION (SF) 7,,6 NEW LEASING ACTIVITY (SF), 8,78 6,7 AVG ASKING RENTAL RATE $. $. $.99 Vacancy Rate & Net Absorption Vacancy Rate 6% % % % 8% 6% % Available Space for Lease Profile,-99,999 SF,-99,999 SF,-99,999 SF,-99,999 SF,+ SF Largest Available Spaces for Lease MAP SIZE (SF) ADDRESS 6,6 77 Alft Court, Elgin,7 8 Alft Lane, Elgin,6 - Northwest way, Elgin, - Galvin Drive, Elgin 7,6-8 Northwest way, elgin 6 7 YTD Vacant Occupied Under Construction -. Net Absorption (millions of SF) 8

9 Lake Zurich Hampshire Huntley Gilberts Dundee Elgin Arlington Heights 6 Schaumburg South Elgin Streamwood Lease transaction Sale transaction Active construction project Large available block of space Dupage Bloomingdale Addison Carol Elgin I- Corridor Significant Q 8 Lease Transactions Transactions in blue designate Colliers International transactions MAP TENANT SIZE (SF) ADDRESS TYPE Marketing Alternatives 7,78-6 Northwest way, Elgin Lease expansion/renewal Touchpoint Logistics, -8 Galvin Drive, Elgin Lease renewal Tellworks Communications LLC 7,78 8 Madeline Lane, Elgin New lease Shaw Industries 7,86 - Galvin Drive, Elgin Lease renewal PODS Inc 6, Spectrum Drive, Elgin Lease renewal 6 Stamar Packaging 6, 6 Fleetwood Drive, Elgin Lease expansion Elgin I- Corridor Significant Q 8 Sale Transactions Transactions in blue designate Colliers International transactions MAP BUYER SIZE (SF) ADDRESS TYPE Brennan Investment Group, 77 Gifford Road, Elgin Part of a -property national investment portfolio sale Brennan Investment Group 9,888 7 George Bush Court, Huntley Part of a -property national investment portfolio sale Investcorp International, Inc. 9,99 8 Commerce way, Carpentersville Investment sale Nottingham Realty Group LLC 8,8 7-7 Todd Farm Drive, Elgin Investment sale Historical New Supply Millions of Square Feet Elgin I- Corridor Active Construction Projects MAP TYPE SIZE (SF) ADDRESS DEVELOPER Build-to-Suit 7, Wesemann Drive, West Dundee The Opus Group YTD 8 Active Spec, 6,6,,69,8 BTS 6, 8,678 8,6 8,,6 7, Demo 8, 9 Research & Forecast Report First Quarter 8 Chicago/Industrial Colliers International

10 Fox Valley Quarter in Review» The vacancy rate witnessed its second consecutive quarter of improvement decreasing by 7 basis points to 7. percent. Despite the improvement, it is still 9 basis points above the. percent rate recorded one year ago.» The main reason for the increase were large new vacancies introduced in 7. General Mills moved out of its two-building campus in West Chicago and Partylite Worldwide closed its doors and sold its 88,7-square-foot building in Batavia. Submarket Indicators FOX VALLEY Q 8 Q 7 Q 7 VACANCY RATE 7.% 7.8%.% NET ABSORPTION (SF) 8,99 8,8 6,6 NEW SUPPLY (SF) 9,7 UNDER CONSTRUCTION (SF) 7,7 NEW LEASING ACTIVITY (SF), 99, 8,8 AVG ASKING RENTAL RATE $.8 $.8 $. Vacancy Rate & Net Absorption % 8,» Six big box spaces larger than, square feet are currently available in the Fox Valley submarket, only three of which are vacant. Two of the largest vacancies were formerly occupied by General Mills at 7 W Washington Street in West Chicago. The two buildings total 86, square feet.» New leases pushed net absorption positive for the second quarter in a row, totaling 8,99 square feet between January and March.» While there are no active construction projects, the Fox Valley submarket delivered three buildings totaling nearly 7, square feet in 7, one of the area's most active development years. This activity included two building expansion and a 7,7-square-foot speculative facility that was partially leased by Focus Logistics during the first quarter of 8.» New leases totaled, square feet during the first quarter of 8, the greatest new leasing quarterly tally since the second quarter of.» The city of Batavia recorded the most new leasing activity with 6, square feet of new leases signed during the first quarter of 8. The largest new lease involved Blue Wave Products, a manufacturer and distributor of pool and home leisure products, leasing 8,78 square feet at 6 Person Drive in Batavia. Forecast The Fox Valley vacancy rate is expected to remain relatively steady through 8 as long as no sizable spaces are vacated in the coming quarters. Due to the submarket's comparatively small size, the rate may see a sharp decline if one or two new tenants commit to one of the available big box spaces. Vacancy Rate % % 8% 6% % 6 7 YTD 8 Available Space for Lease Profile Largest Available Spaces for Lease MAP SIZE (SF) ADDRESS, 7 W Washington Street, West Chicago 88,7 6-6 Kingsland Drive, Batavia, 7 W Washington Street, West Chicago 86,6 77 W Harvester Road, West Chicago,99 Harvester Road, West Chicago 6,,, -,,-99,999 SF,-99,999 SF,-99,999 SF,-99,999 SF,+ SF 6 8 Vacant Occupied Under Construction Net Absorption (SF)

11 Elgin Schaumburg South Elgin Streamwood Bloomingdale St. Charles Geneva 6 Batavia Dupage West Chicago Carol Stream Lease transaction Sale transaction Active construction project Large available block of space Aurora Municipal i Fox Valley Significant Q 8 Lease Transactions North Aurora 88 Downers Grove Transactions in blue designate Colliers International transactions MAP TENANT SIZE (SF) ADDRESS TYPE Leslie's Poolmart,69-6 Industrial Drive, West Chicago Lease renewal Blue Wave Products 8,78 6 Pierson Drive, Batavia New lease Focus Logistics 9,9 - Douglas Road, Batavia New lease PDS Transportation 7, 8 E Ohio Avenue, Saint Charles New lease Quintessence Publishing 8,9 - N Raddant Road, Batavia New lease Fox Valley Significant Q 8 Sale Transactions MAP BUYER SIZE (SF) ADDRESS TYPE DS Containers Inc,9 Enterprise Circle, West Chicago User sale/tenant exercised purchase option Blackstone Real Estate Income Trust 9, 8 Hawthorne Lane, West Chicago Part of a -property national investment portfolio sale Blackstone Real Estate Income Trust, W Hawthorne Lane, West Chicago Part of a -property national investment portfolio sale Blackstone Real Estate Income Trust, 7 Harvester Road, West Chicago Part of a -property national investment portfolio sale Blackstone Real Estate Income Trust 8, 8 Ohio Avenue, Saint Charles Part of a -property national investment portfolio sale 6 Blackstone Real Estate Income Trust, 98-6 Nagel Boulevard, Batavia Part of a -property national investment portfolio sale Historical New Supply Square Feet 8, 7, 6,,,,,, -, 6 7 YTD 8 Active Spec 7,7 BTS 9,9, 79,6 9,7 Demo -8, Fox Valley Active Construction Projects MAP TYPE SIZE (SF) ADDRESS DEVELOPER None to report Research & Forecast Report First Quarter 8 Chicago/Industrial Colliers International

12 I- North Quarter in Review» The I- North vacancy rate increased 6 basis points to 8.6 percent during the first quarter of 8. Several new vacancies were introduced between January and March and a 99,-squarefoot speculative development was delivered vacant, pushing the vacancy rate higher. Submarket Indicators I- NORTH Q 8 Q 7 Q 7 VACANCY RATE 8.6% 7.97% 9.89% NET ABSORPTION (SF) -8,7,89, NEW SUPPLY (SF) 99,76 9,89 UNDER CONSTRUCTION (SF),8,8 769, 7, NEW LEASING ACTIVITY (SF) 87,8 9,78 7, AVG ASKING RENTAL RATE $.7 $. $.8» For the first time since the second quarter of 7, net absorption turned negative in the I- North submarket, totaling negative 8,7 square feet for the quarter. New vacancies outpaced the effects of continued new leasing and user sale activity.» Clarius Partners completed construction on a 99,76-square-foot speculative development in January. The building, located at King Avenue was delivered vacant.» Six development projects totaling. million square feet are underway, the second most construction activity behind the I-8 Joliet Corridor submarket. With the exception of a,-squarefoot build-to-suit for GO Logistics in River Grove, the remaining five projects are being built on a speculative basis.» New leasing activity decreased during the first quarter of 8, totaling only 87,8 square feet. The largest new lease of the period involved Grand Worldwide Logistics subleasing 9,9 square feet from TVI, Inc/Savers on a short-term basis at W Lake Street in Melrose. Vacancy Rate & Net Absorption Vacancy Rate 6% % % % 8% 6% % % % 6 Available Space for Lease Profile,-99,999 SF,-99,999 SF,-99,999 SF 7 YTD Net Absorption (millions of SF)» Sales activity included two buildings trading in investment sale transactions, and two user sales totaling 9,9 square feet. The largest building to sell was the 6,8-square-foot building at 88 River Road in Schiller. New York-based Investcorp International purchased the 96s-era building as part of a -property portfolio that included buildings throughout the Chicago industrial market. Forecast Five speculative development projects totaling. million square feet will be delivered over the next six months and will result in another significant increase to the submarket's vacancy rate. The impact of these deliveries can be minimized if some of the nine available big box spaces greater than, square feet are leased.,-99,999 SF,+ SF Vacant Occupied Under Construction Largest Available Spaces for Lease MAP SIZE (SF) ADDRESS 88, Northwest Avenue, Northlake 67,89 Seymour Avenue, Franklin,696 7 Seymour Avenue, Franklin Franklin Avenue, Franklin 7,67 9 W Fullerton Avenue, Franklin

13 Niles Elk Grove 9 Village Ohare Int'l Wood Dale Schiller Bensenville 6 9 Northlake Franklin 9 Elmhurst Lease transaction Sale transaction Active construction project Large available block of space Melrose Westchester Oak Cicero Chicago I- North Significant Q 8 Lease Transactions Transactions in blue designate Colliers International transactions MAP TENANT SIZE (SF) ADDRESS TYPE Grand Worldwide Logistics 9,9 7 Proviso Drive, Melrose Sublease Dynamic Manufacturing Inc 9,8 8 W Lake Street, Melrose Lease renewal K Express 9,89 8- Belmont Avenue, Franklin Lease expansion/renewal Everflora Chicago Inc 66,7 8- Belmont Avenue, Franklin Lease renewal Vital Proteins LLC 6,777 N Wolf Road, Franklin Lease expansion 6 SM Beauty LLC, 6 N United way, Schiller New lease I- North Significant Q 8 Sale Transactions MAP BUYER SIZE (SF) ADDRESS TYPE Investcorp International, Inc. 6,8 88 River Road, Schiller Part of a -property local investment portfolio sale Tafco Corporation LLC,7 97 Soreng Avenue, Schiller Part of a -property local investment portfolio sale Advance Cabinets 9, 6 Acorn Lane, Franklin User sale Burdis Motor Works Inc 9,69 99 Ivanhoe Court, Schiller User sale Historical New Supply Square Feet,,,,,,, -, -,, -,, 6 7 YTD 8 Active Spec,,8 68,6 99,76,8,8 BTS,88,, Demo -6,8 -,,7 -,, -6,78 I- North Active Construction Projects MAP TYPE SIZE (SF) ADDRESS DEVELOPER Speculative,696 7 Seymour Avenue, Franklin CenterPoint Properties Speculative 77,8 6 Franklin Avenue, Franklin Bridge Development Partners Build-to-Suit, West Street, River Grove GO Logistics Speculative,89 6 Seymour Avenue, Franklin CenterPoint Properties Speculative 7,66 6 Franklin Avenue, Franklin Bridge Development Partners 6 Speculative 6,88 8 Centrella Street, Franklin Molto Capital Research & Forecast Report First Quarter 8 Chicago/Industrial Colliers International

14 I- South Quarter in Review» The vacancy rate reached an all-time low during the first quarter of 8 in the I- South submarket, decreasing by 8 basis points to.67 percent by the end of March. Record new leasing activity and the strongest user sale activity in several years resulted in this significant improvement to the vacancy rate. Submarket Indicators I- SOUTH Q 8 Q 7 Q 7 VACANCY RATE.67% 7.%.89% NET ABSORPTION (SF) 6,9-6,8 7,78 NEW SUPPLY (SF) UNDER CONSTRUCTION (SF),, 7, NEW LEASING ACTIVITY (SF) 8, 68,86 6,8 AVG ASKING RENTAL RATE $.6 $.7 $.6» In tandem with this activity, net absorption totaled 6,9 square feet, the strongest quarterly tally since the second quarter of. Vacancy Rate & Net Absorption» Construction is nearing completion on Bridge Development Partners',-square-foot speculative development in Cicero. The entire building was pre-leased by retail display and packaging solutions provider Royal Box during the first quarter.» While no additional development projects are imminent, the demand witnessed during the first quarter of 8 will pique the interest of area developers. Users continue to focus on sites close-in to the city of Chicago to serve customers through last mile delivery and cold storage facilities. Vacancy Rate 6% % % % 8% 6% % % 6 7 YTD Net Absorption (millions of SF)» New leasing activity totaled 8, square feet between January and March, the greatest quarterly tally to ever be recorded in the submarket.» Three new leases greater than, square feet were signed between January and March. The largest lease involved Royal Box pre-leasing the,-square-foot speculative facility under construction in Cicero. Luxury home furnishings provider Holly Hunt leased, square feet at W Sergo Drive in McCook.» Several buildings sold during the first quarter of 8 as well. The largest was a user sale and involved food ingredient processor and supplier Newly Weds Foods Inc purchasing three neighboring buildings totaling, square feet in Broadview from Mullins Food Products as part of its acquisition of the company. Forecast With only two big box spaces, square feet or larger currently available, the vacancy rate is expected to remain relatively stable over the coming quarter in the I- South submarket, barring any significant new vacancies being introduced. Developers may be drawn to the recent activity in the submarket. Available Space for Lease Profile,-99,999 SF,-99,999 SF,-99,999 SF,-99,999 SF,+ SF Vacant Occupied Under Construction Largest Available Spaces for Lease MAP SIZE (SF) ADDRESS, 66 River Road, Hodgkins 8,9 7 Santa Fe Drive, Hodgkins 9,8 S Central Avenue, Forest View 6, W st, Cicero 6, 6 River Road, Hodgkins

15 Elmhurst Northlake Melrose Oak 9 Chicago 88 Westchester Cicero Hinsdale Burr Ridge 9 Lease transaction Sale transaction Active construction project Large available block of space La Grange Hodgkins McCook Bedford Chicago Midway 9 I- South Significant Q 8 Lease Transactions Transactions in blue designate Colliers International transactions MAP TENANT SIZE (SF) ADDRESS TYPE Royal Box, S th Avenue, Cicero New lease Holly Hunt, W Sergo Drive, McCook New lease Marquee Event Group, W th Street, McCook New lease Cummins-Allison Corporation, 7 Santa Fe Drive, Hodgkins Lease renewal McCook Cold Storage,6 8 W 7th Street, Lyons New lease I- South Significant Q 8 Sale Transactions Transactions in blue designate Colliers International transactions MAP BUYER SIZE (SF) ADDRESS TYPE Newly Weds Foods Inc 6, S th Avenue, Broadview Part of a -property user portfolio sale Combined Warehouse 6,9 - Dansher Road, Countryside User sale Newly Weds Foods Inc 98, 7 W Roosevelt Road, Broadview Part of a -property user portfolio sale Newly Weds Foods Inc 9, S th Avenue, Broadview Part of a -property user portfolio sale Investcorp International, Inc.,8 - W es Drive, Broadview Part of a -property local portfolio sale Historical New Supply,6,,, I- South Active Construction Projects MAP TYPE SIZE (SF) ADDRESS DEVELOPER Speculative, S th Avenue, Cicero Bridge Development Partners 8, Square Feet, -, -8, 6 7 YTD 8 Active Spec 66,7 67,998 8,9, BTS 8,9 7, Demo -9,67 -,9 Research & Forecast Report First Quarter 8 Chicago/Industrial Colliers International

16 I- Corridor Quarter in Review» The I- vacancy rate increased by four percent during the second half of 7 due to vacant speculative deliveries and large new vacancies being introduced, but improved during the first quarter of 8, decreasing by basis points to.78 percent.» Net absorption totaled. million square feet between January and March, the largest quarterly tally since.9 million square feet of net absorption was recorded during the second quarter of 7. This figure matches the net absorption total for all of 7. Submarket Indicators I- CORRIDOR Q 8 Q 7 Q 7 VACANCY RATE.78%.99% 9.9% NET ABSORPTION (SF),,,,7 NEW SUPPLY (SF),6,8, UNDER CONSTRUCTION (SF) 8,76 98,896,769,6 NEW LEASING ACTIVITY (SF),66, 79,,9, AVG ASKING RENTAL RATE $.7 $.77 $.78 Vacancy Rate & Net Absorption 6%» Only one development project was delivered during the first quarter of 8, a,6-square-foot speculative facility developed by Prologis in Bolingbrook's Remington Lakes Business. The building was partially pre-leased when it was delivered.» Two speculative projects are currently under construction, including a 8,6-square-foot facility being developed by Prologis and Molto Properties is building a,7-square-foot building. Both projects are located in Woodridge. Six additional speculative buildings totaling.7 million square feet are expected to start construction during the next six months. Vacancy Rate % % % 8% 6% % 6 Available Space for Lease Profile 7 YTD 8 - Net Absorption (millions of SF)» New leases and lease expansions totaled. million square feet during the first quarter of 8, the greatest quarterly new leasing activity tally since the second quarter of 7, when it totaled.7 million square feet.,-99,999 SF,-99,999 SF,-99,999 SF» The largest new lease of the first quarter of 8 involved logistics and warehousing services provider RJW Transport leasing the 6,6-square-foot building at 6 Internationale way in Woodridge on a long-term basis.» Several buildings in the I- Corridor traded between January and March, including three buildings purchased by High Street Realty Company as part of a -property investment portfolio that included buildings in Lemont, Bolingbrook, Schaumburg, and Lake County. Forecast The vacancy rate is expected to continue to improve over the coming quarters due to elevated demand, limited speculative construction activity, and few new sizable vacancies expected to come online. This rate is subject to larger swings in the I- Corridor due to the average building and transaction size being larger than most other submarkets.,-99,999 SF,+ SF Vacant Occupied Under Construction Largest Available Spaces for Lease MAP SIZE (SF) ADDRESS 787,99 W Road, Romeoville 676,6 7 Southcreek way, Romeoville 69,96 S Pinnacle Drive, Romeoville,99 Internationale Drive, Bolingbrook 9,6 St. James Gate, Bolingbrook 6

17 North Aurora Montgomery Aurora 88 Naperville Downers Grove Woodridge Hinsdale Burr Ridge 9 Hodgkins McCook Bedford Chicago Midway Oswego Bolingbrook 6 Romeoville Palos Heights 9 Alsip Lease transaction Sale transaction Active construction project Large available block of space Plainfield Crest Hill Lockport Tinley 8 Mokena I- Corridor Significant Q 8 Lease Transactions Transactions in blue designate Colliers International transactions MAP TENANT SIZE (SF) ADDRESS TYPE RJW Transport, Inc. 6,6 6 Internationale way, Woodridge New lease WestRock Converting Company 9,7 6 Crossing Road, Bolingbrook Lease renewal Acer Inc. 66, 68 S John Lane Crossing, Lockport New lease JB Hunt Transport, Inc.,6 - W Road, Romeoville New lease Sealed Air Corporation 6,876 S Pinnacle Drive, Romeoville New lease 6 Ty,7 7 W Crossroads way, Bolingbrook New lease I- Corridor Significant Q 8 Sale Transactions MAP BUYER SIZE (SF) ADDRESS TYPE High Street Realty Company, LLC, Remington Boulevard, Bolingbrook Part of a -property local investment portfolio sale Perma-Seal Basement Systems 9,7 Rockwell Court, Burr Ridge User sale High Street Realty Company, LLC,98 W st Street, Lemont Part of a -property local investment portfolio sale The Silverman Group, Argonne Drive, Woodridge Investment sale High Street Realty Company, LLC 98,8 W67 st Street, Lemont Part of a -property local investment portfolio sale Historical New Supply Millions of Square Feet 6 I- Corridor Active Construction Projects MAP TYPE SIZE (SF) ADDRESS DEVELOPER Speculative 8,6 Internationale way, Woodridge Prologis Speculative,7 79 Davey Road, Woodridge Molto Properties YTD 8 Active Spec,8,6,8,6,6,68,9,,6 8,76 BTS,, 9,86 9,9,, Demo -,7-6,99 7 Research & Forecast Report First Quarter 8 Chicago/Industrial Colliers International

18 I-8 Joliet Corridor Quarter in Review» The I-8 Joliet Corridor vacancy rate has been quickly climbing since bottoming at.7 percent during the first quarter of 7. Over the past quarters, the rate has increased by 9 basis points to 8. percent largely due to the completion of nine speculative development projects totaling.9 million square feet. These new buildings remain 8 percent vacant. Submarket Indicators I-8 JOLIET CORRIDOR Q 8 Q 7 Q 7 VACANCY RATE 8.% 7.88%.7% NET ABSORPTION (SF),7,,6,8,,8 NEW SUPPLY (SF),,9,6,7,6,969 UNDER CONSTRUCTION (SF),8,9,, 6,,96 NEW LEASING ACTIVITY (SF) 79,9,688,7, AVG ASKING RENTAL RATE $.69 $.6 $.» Total vacant supply continues to increase, reaching 7. million square feet by the end of the first quarter of 8, the greatest amount of vacant space in the submarket since the second quarter of. For users looking for at least, square feet, there are now seven existing options, with one additional option under construction.» Despite a -basis-point increase in the submarket's vacancy rate during the first quarter of 8, net absorption was positive during the period, totaling.8 million square feet. This was primarily due to the completion of a.-million-square-foot build-to-suit facility for IKEA in Joliet combined with 79,9 square feet of new leasing activity.» Two development projects were delivered between January and March, both greater than. million square feet. Besides IKEA's.-million-square-foot build-to-suit facility, Venture One Real Estate completed construction on a.-million-squarefoot speculative project known as Crossroads along I- in Channahon. Vacancy Rate & Net Absorption Vacancy Rate % 8% % % 9% 6% % % 6 Available Space for Lease Profile,-99,999 SF,-99,999 SF,-99,999 SF,-99,999 SF 7 YTD Net Absorption (millions of SF)» Six buildings are currently under construction, four of which are being built on a speculative basis. The largest is a.-millionsquare-foot speculative facility being developed by the Opus Group in Joliet known as Rock Creek Logistics Center.» New leases and lease expansions totaled 79,9 square feet during the first quarter of 8. The largest lease involved Whirlpool Corporation renewing its lease for 7, square feet and expanding by 8,77 square feet to occupy the entire.-millionsquare-foot facility at 8 Youngs Road in Joliet. Forecast Four speculative development projects totaling. million square feet remain under construction. When these buildings are delivered over the coming months, it will result in another increase to the submarket's vacancy rate. Significant new leasing activity may offset these impacts. 8,+ SF Vacant Occupied Under Construction Largest Available Spaces for Lease MAP SIZE (SF) ADDRESS,, Route 6 & Houbolt Road, Joliet,6, Core Logistics Center I-8, Joliet,, S Frontage Road, Channahon 99,6 E Millsdale Road, Joliet 89,69 Internationale way North, Minooka

19 Yorkville Plainfield Bolingbrook 9 Romeoville Lockport Alsip Tinley 8 Minooka Channahon Joliet New Lenox 8 Mokena 6 7 University Elwood Lease transaction Sale transaction Active construction project Large available block of space Wilmington Manteno I-8 Joliet Corridor Significant Q 8 Lease Transactions Transactions in blue designate Colliers International transactions MAP TENANT SIZE (SF) ADDRESS TYPE Whirlpool Corporation,,8 8 Youngs Road, Joliet Lease expansion/renewal Home Depot,6 Brandon Road, Joliet New lease NGL 8,7 Ellis Court, New Lenox Lease renewal A&R Logistics,6 - Rock Creek Boulevard, Joliet Lease renewal Caliber Packaging, 8-8 Moen Avenue, Joliet New lease I-8 Joliet Corridor Significant Q 8 Sale Transactions MAP BUYER SIZE (SF) ADDRESS TYPE QTR None to report Historical New Supply Millions of Square Feet YTD 8 Active Spec 86,96,8,667,69,,88,79,,,,9 BTS,,77,8,,,7,88,,,8 96, Demo I-8 Joliet Corridor Active Construction Projects MAP TYPE SIZE (SF) ADDRESS DEVELOPER Speculative,, US 6 & Houbolt Road, Joliet The Opus Group Build-to-Suit, Reed Road, Coal City Hoffman Transportation Speculative,99 First Joliet Logistics Center, Joliet First Industrial Realty Trust Speculative 96,8 87 S Ridgeland Avenue, Tinley Hillwood Investment Properties Speculative 7,9 W Haven Avenue, New Lenox Northern Builders 6 Build-to-Suit 6, Springlake Drive, Mokena ABC Supply 9 Research & Forecast Report First Quarter 8 Chicago/Industrial Colliers International

20 I-88 Corridor Quarter in Review» The I-88 Corridor vacancy rate improved for the third consecutive quarter, decreasing by basis points during the first quarter of 8 to 6.6 percent. This represents the lowest rate recorded in the submarket since the first quarter of, when it dipped to.8 percent. Submarket Indicators I-88 CORRIDOR Q 8 Q 7 Q 7 VACANCY RATE 6.6% 6.6% 7.% NET ABSORPTION (SF),67 79,6-8, NEW SUPPLY (SF),97, UNDER CONSTRUCTION (SF), 66, 9,7 NEW LEASING ACTIVITY (SF),7 96,98 6,79 AVG ASKING RENTAL RATE $.87 $.8 $.6» Only.6 million square feet is currently vacant in the I-88 Corridor, the least amount of vacant space in two-and-a-half years. For users looking for, square feet or more, there are only two options, only one of which is vacant.» Net absorption totaled,67 square feet between January and March, primarily due to several user sales being closed. Although still positive, this was the lowest net absorption tally since the first quarter of 7, when it totaled negative 8, square feet. Vacancy Rate & Net Absorption Vacancy Rate % % % 8% 6% % Net Absorption (millions of SF)» No development projects were completed during the first quarter of 8. Two projects are currently underway in the I-88 Corridor, including a,-square-foot build-to-suit facility for Rexford Corporation to replace its current building and a 69,-squarefoot speculative project being developed by Northern Builders that is nearing completion in Naperville. % 6 Available Space for Lease Profile 7 YTD 8 -.» Several additional development projects are expected to begin construction over the next six months, including a three-building speculative development totaling 68, square feet to be developed by Bridge Development Partners along I- and I-88 in Downers Grove.» New leasing activity was limited to one transaction between January and March. However, several buildings traded during the period. The largest sale involved Blackstone Real Estate Income Trust purchasing three buildings in Aurora that are fully-leased to Kraft and Mondelez International. The investment portfolio was purchased for $.6 million, or $88.97-per-square-foot. Forecast Demand for space, as measured by net absorption, has totaled nearly four million square feet over the past two years. This positive demand is expected to continue through the remainder of 8. With little speculative supply expected to deliver over the coming two quarters, this will result in additional improvements to the submarket's vacancy rate.,-99,999 SF,-99,999 SF,-99,999 SF,-99,999 SF,+ SF Vacant Occupied Under Construction Largest Available Spaces for Lease MAP SIZE (SF) ADDRESS, Orchard Gateway Boulevard, North Aurora,68 6 W Avenue, Aurora 9,6 - Baseline Road, Montgomery, 7 N Enterprise Street, Aurora, Bilter Road, Aurora

21 St. Charles Geneva Dupage West Chicago Bloomingdale Carol Stream Addison Bensenville Elmhurst Franklin Aurora Municipal Sugar Grove North Aurora Montgomery 6 Aurora 88 Naperville Downers Grove Woodridge Hinsdale La Grange Oswego Bolingbrook Lease transaction Sale transaction Active construction project Large available block of space Romeoville Plainfield Lockport I-88 Corridor Significant Q 8 Lease Transactions MAP TENANT SIZE (SF) ADDRESS TYPE Pregis,7 88 Meridian Lake Drive, Aurora New lease I-88 Corridor Significant Q 8 Sale Transactions MAP BUYER SIZE (SF) ADDRESS TYPE Blackstone Real Estate Income Trust,69,6 industrial buildings, Aurora -property investment portfolio sale Blackstone Real Estate Income Trust 7, 98 High Grove Lane, Naperville Part of a -property national investment portfolio sale Carl Buddig & Company 8, Rochester Drive, Montgomery User sale Blackstone Real Estate Income Trust 6,9 88 Country Farm Drive, Naperville Part of a -property national investment portfolio sale AIC Ventures 8,6 S Lake Street, Aurora Investment sale 6 DC Logistics 9,7 W Youghall Street, Warrenville User sale Historical New Supply Millions of Square Feet I-88 Corridor Active Construction Projects MAP TYPE SIZE (SF) ADDRESS DEVELOPER Build-to-Suit, Curtiss Street, Downers Grove Rexford Corp. Speculative 69, 78 W Jefferson Avenue, Naperville Northern Builders YTD 8 Active Spec 7, 668,6,,,97 69, BTS 6,7 79,,8,9,9,7, Demo -, -6,6 Research & Forecast Report First Quarter 8 Chicago/Industrial Colliers International

22 Lake County Quarter in Review» The Lake County vacancy rate increased by 8 basis points, ending the first quarter of 8 at 7. percent. Despite this increase, the rate remains 7 basis points below the 8.7 percent rate recorded one year ago. Several mid-sized new vacancies outpaced the effects of tempered leasing and user sale activity during the quarter.» Few large blocks of space are currently available in the submarket. For users looking for at least, square feet of space, there are only vacant options and there is only one option for more than, square feet.» Developers CenterPoint Properties and Bridge Development Properties have announced several speculative developments ranging in size from, square feet to more than, square feet to address the lack of big box availability in Lake County.» For the first time in six quarters, net absorption turned negative during the first quarter of 8, totaling negative 8,9 square feet. This was largely due to the introduction of several new vacancies during the first quarter of 8. One of the largest new vacancies was Neil Enterprises Inc. moving out of the 6,-square-foot building at E Bunker Court in Vernon Hills.» Two buildings totaling 98,8 square feet are currently under construction. IDI Logistics continues to develop a 8,-squarefoot build-to-suit facility for aluminum foil products manufacturer Handi-Foil in the Antioch Corporate Center. Construction is nearing completion on a 9,78-square-foot build-to-suit for Schaff Piano in Lake Zurich.» The largest new lease completed during the first quarter of 8 involved PODS, Inc. taking,77 square feet in building two of the recently-developed LogistiCenter at 9 in Libertyville. Building one is fully-leased to four tenants, while, square feet remains available in building two. Forecast Speculative development will pick up over the coming six months, with all four buildings expected to be delivered by early 9. When these projects are completed, the Lake County vacancy rate will likely increase, but until then steady demand is expected to result in improving market conditions in the Lake County submarket. Submarket Indicators LAKE COUNTY Q 8 Q 7 Q 7 VACANCY RATE 7.% 7.7% 8.7% NET ABSORPTION (SF) -8,9 8,96,7 NEW SUPPLY (SF),9 9,,7 UNDER CONSTRUCTION (SF) 98,8 7,79,9 NEW LEASING ACTIVITY (SF) 96,8 69,8 78,9 AVG ASKING RENTAL RATE $.9 $.6 $.6 Vacancy Rate & Net Absorption Vacancy Rate % % % 8% 6% % Available Space for Lease Profile,-99,999 SF,-99,999 SF,-99,999 SF,-99,999 SF,+ SF MAP SIZE (SF) ADDRESS 6,7 8 S Northpoint Boulevard, Waukegan 6, Burwood Drive, Waukegan 9,66 6 Skokie Highway, North Chicago, Corporate Woods way, Vernon Hills,8 Artaius way, Libertyville 6 6 Vacant Occupied Under Construction Largest Available Spaces for Lease 7 YTD Net Absorption (millions of SF)

23 Zion Waukegan Regional Fox Lake Crystal Lake McHenry Campbell Grayslake Libertyville Mundelein Vernon Hills 9 Waukegan Lake Forest Lake Zurich Chicago Highland Lease transaction Buffalo 6 Sale transaction Grove Active construction project Large available block of space Wheeling Glencoe Northbrook Huntley 9 9 Lake County Significant Q 8 Lease Transactions MAP TENANT SIZE (SF) ADDRESS TYPE PODS, Inc.,77-99 E Avenue, Libertyville New lease Pharma Logistics,66-6 High Street, Mundelein Lease renewal TCI Tires,8 Harris Road, Libertyville Lease renewal ETI Solid State Lighting Inc, 6-6 Commerce Drive, Libertyville Sublease Ancient Graffiti, Inc, 7 S Butterfield Road, Mundelein New lease Lake County Significant Q 8 Sale Transactions Transactions in blue designate Colliers International transactions MAP BUYER SIZE (SF) ADDRESS TYPE Dermody Properties 6, Green Oaks Business Center, Green Oaks -property investment portfolio sale High Street Realty Company, LLC,8 - Technology Way, Libertyville Part of a -property local investment portfolio sale Okabe Co., Ltd.,9 - E Peterson Road, Grayslake User sale High Street Realty Company, LLC 7,7 9-9 Commerce Court, Buffalo Grove Part of a -property local investment portfolio sale Midwest Industrial Funds 6,9 8 N Church Street, Lake Zurich Investment sale 6 High Street Realty Company, LLC 8,866 Asbury Drive, Buffalo Grove Part of a -property local investment portfolio sale Historical New Supply Square Feet,, 8, 6,,, -, Lake County Active Construction Projects MAP TYPE SIZE (SF) ADDRESS DEVELOPER Build-to-Suit 8, Antioch Corporate Center, Antioch IDI Logistics Build-to-Suit 9, Ensell Road, Lake Zurich Flex Construction Corporation -, -6, 6 7 YTD 8 Active Spec 86,88 66,88 8,8 BTS, 7,, 8,69,9 98,8 Demo -, -7,8 Research & Forecast Report First Quarter 8 Chicago/Industrial Colliers International

24 North Suburbs Quarter in Review» New vacancies outpaced limited new leasing and user sale activity during the first quarter of 8 in the North Suburbs, resulting in a -basis-point increase to the vacancy rate, which stood at.7 percent at the end of March.» Despite the increase, the rate remains just above the record low rate of. percent recorded two quarters ago and similar to the. percent rate recorded one year ago. There remains only one available space, square feet or larger in the submarket, with one additional space under construction. Submarket Indicators NORTH SUBURBS Q 8 Q 7 Q 7 VACANCY RATE.7%.7%.% NET ABSORPTION (SF) -, 7,8,9 NEW SUPPLY (SF) 8,9,6 UNDER CONSTRUCTION (SF) 68,67 68,67,9 NEW LEASING ACTIVITY (SF),68 8,,8 AVG ASKING RENTAL RATE $.9 $. $.8 Vacancy Rate & Net Absorption %.» A total of 8,68 square feet of new vacancies was introduced between January and March. As a result, net absorption turned negative for the first time in quarters, measuring negative, square feet.» Three buildings are currently under construction, the largest being a 6,9-square-foot speculative facility being developed by Hillwood in Skokie. In Wheeling, Sitex Group is developing a 8,7-squarefoot speculative project while Orange Crush Asphalt is building a new 7,-square-foot facility. Vacancy Rate % 8% 6% % % 6 Available Space for Lease Profile 7 YTD Net Absorption (millions of SF)» No additional development projects are expected to break ground in the immediate future in the North Suburbs, though some sites remain available and could support a build-to-suit user.,-99,999 SF,-99,999 SF» The largest new lease of the first quarter of 8 involved North Star Trading Co. taking,68 square feet in the,9-square-foot building at -7 E Messner Drive in Wheeling.,-99,999 SF,-99,999 SF,+ SF» Several property sales occurred during the first quarter of 8, the largest of which involved JDI Realty purchasing the,-squarefoot building known as Howard Commons in Niles along with the,-square-foot building next door as part of an investment portfolio in March. Forecast With the vacancy rate near record lows, and few large spaces available for lease, improvement will be gradual over the coming quarters. The vacancy rate may increase slightly when the two speculative projects under construction are delivered later in the year. Demand for space is expected to remain steady through 8. Vacant Occupied Under Construction Largest Available Spaces for Lease MAP SIZE (SF) ADDRESS 6,9 6 Howard Street, Skokie, 7 N Central Avenue, Lincolnwood 8,9 7 Northgate way, Wheeling,6 77 N Lehigh Avenue, Niles, Wheeling Road, Wheeling

25 Buffalo 9 Highland Grove Wheeling Chicago Executive Northbrook Glencoe 9 Arlington Schaumburg Heights Elk Grove Village Lease transaction Sale transaction Wood Dale Active construction project Large available block of space Bloomingdale Bensenville Des Plaines Ohare Int'l 9 Morton Grove Niles Skokie 6 Evanston 9 North Suburbs Significant Q 8 Lease Transactions Transactions in blue designate Colliers International transactions MAP TENANT SIZE (SF) ADDRESS TYPE North Star Trading Co.,68-7 E Messner Drive, Wheeling New lease Data Communications Management,8 68 Howard Street, Niles Lease extension Polyscience 9, 6-7 W Howard Street, Niles Lease extension North Suburbs Significant Q 8 Sale Transactions MAP BUYER SIZE (SF) ADDRESS TYPE JDI Realty 6, W Howard Street, Niles -property investment portfolio sale Cabot Properties, Inc. 8,9 7 Northgate way, Wheeling Investment sale Blackstone Real Estate Income Trust,87 6 W Jarvis Avenue, Niles Part of a -property national investment portfolio sale D.R. Horton, Inc. 8,78 - N Wolf Road, Wheeling User sale The Missner Group,7 Ravine Way, Glenview Sale-leaseback 6 Blackstone Real Estate Income Trust,878 7 W Jarvis Avenue, Niles Part of a -property national investment portfolio sale Historical New Supply Square Feet 6,,, -, -, -6, -8, -,, 6 7 YTD 8 Active Spec,7 7,8 6,699,667 BTS 6,8 7, Demo -6,6 -, -6,8,6 North Suburbs Active Construction Projects MAP TYPE SIZE (SF) ADDRESS DEVELOPER Speculative 6,9 6 Howard Street, Skokie Hillwood Speculative 8,7 7 Chaddick Drive, Wheeling Sitex Group Build-to-Suit 7, 7 S Wheeling Road, Wheeling Orange Crush Asphalt Research & Forecast Report First Quarter 8 Chicago/Industrial Colliers International

26 Northwest Suburbs Quarter in Review» The Northwest Suburbs vacancy rate improved for the second consecutive quarter, decreasing by basis points to.9 percent. Despite the improvement, the rate remains well above the 8. percent rate recorded one year ago.» This discrepancy is primarily due to Motorola moving out of its.-million-square-foot business campus in Schaumburg during the second quarter of 7.» Despite having one of the highest vacancy rates among the industrial submarkets tracked in the Chicago market, users looking for big box spaces, square or larger only have five options, three of which are vacant.» Net absorption remained positive for the third consecutive quarter, totaling 99,6 square feet between January and March. This represents the greatest quarterly net absorption tally since the third quarter of 6.» Camcraft's,89-square-foot build-to-suit project was completed during the first quarter of 8. The global leader of high-precision components for the auto industry took occupancy of its new facility at the Brewster Creek Business in Bartlett.» One construction project remains under construction, a 6,-square-foot build-to-suit project for meat distributor Rana USA Inc in Bartlett's Brewster Creek Business. The building is nearing completion and will become the company's North American headquarters once delivered.» New leasing activity totaled, square feet during the first quarter of 8. The largest new lease of the quarter involved WINHERE Brake Parts Inc expanding by 87, square feet in Bartlett's Brewster Creek Business to occupy a total of,6 square feet in the building. Forecast Additional adjustments to the Northwest Suburbs statistics are anticipated over the coming quarters. Once the former Motorola facility in Schaumburg is demolished, it will result in a significant decrease in the area's vacancy rate. Submarket Indicators NORTHWEST SUBURBS Q 8 Q 7 Q 7 VACANCY RATE.9%.% 8.% NET ABSORPTION (SF) 99,6,7 -,6 NEW SUPPLY (SF),89 6, 8, UNDER CONSTRUCTION (SF) 6, 6,89 6, NEW LEASING ACTIVITY (SF),,7 7,687 AVG ASKING RENTAL RATE $.8 $.97 $. Vacancy Rate & Net Absorption Vacancy Rate % % 8% 6% % Available Space for Lease Profile,-99,999 SF,-99,999 SF,-99,999 SF,-99,999 SF,+ SF 8,, -, -8, MAP SIZE (SF) ADDRESS,76, - E Algonquin Road, Schaumburg,76 Falcon Court, Streamwood, 6 E Lake Street, Streamwood,8 W Shure Drive, Arlington Heights, W Shure Drive, Arlington Heights 6 7 Vacant Occupied Under Construction Largest Available Spaces for Lease YTD 8 Net Absorption 6

27 Buffalo Grove Wheeling Glencoe Palatine Chicago Executive 9 Arlington Elgin Hoffman Estates Schaumburg Heights Des Plaines 9 Morton Grove Niles South Elgin Dupage r 6 Lease transaction Sale transaction Active construction project Large available block of space Streamwood Bloomingdale Addison Elk Grove Village Wood Dale Bensenville Ohare Int'l 9 Franklin Northwest Suburbs Significant Q 8 Lease Transactions Transactions in blue designate Colliers International transactions MAP TENANT SIZE (SF) ADDRESS TYPE ITW 8, -8 Brewster Creek Boulevard, Bartlett Lease extension Arens Controls Company 9, 6 N Kennicott Avenue, Arlington Heights Lease extension WINHERE Brake Parts Inc 87, Schiferl Road, Bartlett Lease expansion Energy Light Inc,7 - S Hicks Road, Palatine New lease IT Supplies 6,79 Golf Road, Rolling Meadows New lease 6 TMC Supply, -6 Hardt Circle, Bartlett New lease Northwest Suburbs Significant Q 8 Sale Transactions MAP BUYER SIZE (SF) ADDRESS TYPE Barings Real Estate Advisers LLC 86, 6-9 Brewster Creek Boulevard, Bartlett Investment sale Blackstone Real Estate Income Trust 9, 6 N Kennicott Avenue, Arlington Heights Part of a -property national investment portfolio sale High Street Realty Company, LLC 66,8 Hammond Drive, Schaumburg Part of a -property local investment portfolio sale Historical New Supply Northwest Suburbs Active Construction Projects Square Feet,,,, 8, 6,,, -, -, 6 7 YTD 8 Active Spec,,67,9 77,9 BTS 66,67, 7,8 76,97,89 6, Demo -6, -, MAP TYPE SIZE (SF) ADDRESS DEVELOPER Build-to-Suit 6, Brewster Creek Business, Bartlett Rana USA Inc 7 Research & Forecast Report First Quarter 8 Chicago/Industrial Colliers International

28 O Hare Quarter in Review» The vibrant O'Hare submarket continues to set records. The vacancy rate improved by basis points during the first quarter of 8, decreasing to.7 percent. This is by far the lowest vacancy rate ever recorded in the submarket.» While this is a historically tight vacancy rate, there are still sizable vacancies in the submarket that, if leased, would result in additional improvement. For users looking for at least, square feet, there are six vacant options and five available options that are currently occupied.» New leases and user sales pushed net absorption positive for the third consecutive quarter, totaling 7,87 square feet between January and March.» Three development projects totaling, square feet were delivered during the first quarter of 8. The largest delivery was a 7,769-square-foot speculative facility developed by Seefried Industrial Properties at 8- Lunt Avenue in Elk Grove Village. The building was purchased by Stream Realty Partners in late 7 to convert it into a data center.» Infill development, where older buildings are demolished to make way for new speculative developments, continue to be increasingly commonplace in the O'Hare submarket. Currently, there are three such developments under construction totaling,98 square feet.» Nineteen new leases totaling 9,9 square feet were signed between January and March. The largest was only 7, square feet and involved Azaz Trucking leasing space at 6 Beeline Drive in Bensenville.» The largest sale of the quarter was a user sale, and involved electric fireplace manufacturer GHP Group Inc purchasing a,6-square-foot building in Elk Grove Village. Forecast Nearly two million square feet of infill speculative development is expected to break ground before the end of the year. One of the largest projects, Brennan Investment Group plans to build four speculative buildings totaling 66,77 square feet to be named the Elk Grove Technology. Submarket Indicators O HARE Q 8 Q 7 Q 7 VACANCY RATE.7%.8%.6% NET ABSORPTION (SF) 7,87, -,67 NEW SUPPLY (SF), 7, UNDER CONSTRUCTION (SF),98,6,8 NEW LEASING ACTIVITY (SF) 9,9 67,68 8,8 AVG ASKING RENTAL RATE $.7 $.67 $.8 Vacancy Rate & Net Absorption Vacancy Rate 6% % % % 8% 6% % % Available Space for Lease Profile,-99,999 SF,-99,999 SF,-99,999 SF,-99,999 SF,+ SF MAP SIZE (SF) ADDRESS, Express Center Drive, Chicago,6 8 W Bryn Mawr Avenue, Itasca 6,76 9 W Thorndale Avenue, Itasca,78 6 N York Road, Bensenville,9-9 W Bryn Mawr Avenue, Itasca Vacant Occupied Under Construction Largest Available Spaces for Lease 7 YTD Net Absorption (millions of SF) 8

29 Chicago Executive 9 Schaumburg Bloomingdale Lease transaction Sale transaction Active construction project Large available block of Addison space Arlington Heights Elk Grove Village Itasca 6 Wood Dale Bensenville Des Plaines Ohare Int'l 9 9 Franklin Morton Grove Niles Skokie Evanston Northlake O Hare Significant Q 8 Lease Transactions Transactions in blue designate Colliers International transactions MAP TENANT SIZE (SF) ADDRESS TYPE Fresnius Kabi USA LLC, Supreme Drive, Bensenville Lease renewal C Logistics 6,88 9 Ardmore Avenue, Itasca Lease renewal Mark Andy 9,8 W Oakton Street, Des Plaines Lease renewal I-8-PACK-RAT 77,9 7 S Linneman Road, Mount Prospect Lease renewal Azaz Trucking 7, 6 Beeline Drive, Bensenville New lease 6 The ESAB Group, Inc. 6, 79-8 Golf Lane, Bensenville New lease O Hare Significant Q 8 Sale Transactions Transactions in blue designate Colliers International transactions MAP BUYER SIZE (SF) ADDRESS TYPE GHP Group Inc,6 Nicholas Boulevard, Elk Grove Village User sale Seefried Properties Inc 6, Arthur Avenue, Elk Grove Village Redevelopment sale Investcorp International, Inc., E Business Center Drive, Mount Prospect Part of a -property local investment portfolio sale Reich Brothers 6,99 E Golf Road, Des Plaines Investment sale Investcorp International, Inc. 9, Lunt Avenue, Elk Grove Village Part of a -property local investment portfolio sale Historical New Supply Square Feet 8,, -, O Hare Active Construction Projects MAP TYPE SIZE (SF) ADDRESS DEVELOPER Speculative 9,96 N York Road, Bensenville Liberty Property Trust Speculative 8,66 W Mittel Drive, Wood Dale ProLogis Speculative, 6 Estes Avenue, Elk Grove Village George Gullo Development -8, -,, 6 7 YTD 8 Active Spec 9,,,,,98 BTS 9,,98,98 Demo -68,89-98, -8, -768,,79,79 9 Research & Forecast Report First Quarter 8 Chicago/Industrial Colliers International

30 South Suburbs Quarter in Review» The South Suburbs vacancy rate increased by 9 basis points to.79 percent between January and March. Despite this rise in vacancy, the rate is still basis points lower than the 6. percent rate recorded one year ago.» For users seeking big box space, square feet or larger, there are 7 available options with of those space being currently vacant.» Net absorption totaled negative,97 square feet during the first quarter of 8. The last period with negative net absorption was the first quarter of 7. New vacancies outpaced the effects of limited new leasing and user sale activity.» There are currently no projects under construction in the South Suburbs submarket. 8, square feet of build-to-suit projects were completed in 7. This submarket has not experienced any speculative development activity since.» New leasing activity totaled 6,878 square feet between January and March, a drop from the,867 square feet which were reported during the first quarter of 7. The largest new lease involved LED lighting solutions provider GL Industries LLC leasing, square feet of space in Dolton.» The largest sale of the quarter involved Blackstone Real Estate Income Trust purchasing the 7,7-square-foot building at S Pulaski Road in Alsip as part of a -property national investment portfolio sale that sold for $.8 billion and was percent leased at the time of sale. Forecast Despite weaker demand during the first quarter of 8, the remainder of the year should see positive net absorption and a declining vacancy rate in the South Suburbs. The area is well-located to serve the large population of Chicago and the near South Suburbs, a plus for many e-commerce and logistics companies. Submarket Indicators SOUTH SUBURBS Q 8 Q 7 Q 7 VACANCY RATE.79%.% 6.% NET ABSORPTION (SF) -,97,67-78, NEW SUPPLY (SF) UNDER CONSTRUCTION (SF) 8, NEW LEASING ACTIVITY (SF) 6,878 8,7,867 AVG ASKING RENTAL RATE $.8 $. $.7 Vacancy Rate & Net Absorption Vacancy Rate % % % 8% 6% % Available Space for Lease Profile,-99,999 SF,-99,999 SF,-99,999 SF,-99,999 SF,+ SF MAP SIZE (SF) ADDRESS 776, 7 Mark Collins Drive, Sauk Village,7 8 S Cicero Avenue, Matteson 8,6 8 S Central Avenue, Alsip 7,789 9 W 7rd Street, Bedford 68,8 W 7rd Street, Bedford 6 Vacant Occupied Under Construction Largest Available Spaces for Lease 7 YTD Net Absorption (millions of SF)

31 Hinsdale Chicago Midway Woodridge Bedford 9 Palos Heights Alsip Blue Island 7 9 East Chicago Gary/Chicago Gary Tinley 8 Hazel Crest Hammond Munster 8 9 Mokena Lease transaction Sale transaction Active construction project Large available block of space 7 Matteson University Forest INDIANA NA Schererville 6 Merrillville South Suburbs Significant Q 8 Lease Transactions Transactions in blue designate Colliers International transactions MAP TENANT SIZE (SF) ADDRESS TYPE GL Industries LLC, 97-9 S Greenwood Road, Dolton New lease Global Water Technologies,6 W Armory Drive, South Holland New lease South Suburbs Significant Q 8 Sale Transactions MAP BUYER SIZE (SF) ADDRESS TYPE Blackstone Real Estate Income Trust 7,7 S Pulaski Road, Alsip Part of a -property national investment portfolio sale Dovgal Enterprises LLC 8, 6 W 67th Street, Markham Investment sale Midland Tool & Supply Inc,6 79 Regency Court, Calumet City User sale National Container Group LLC, S LaSalle Street, South Holland User sale Impel Union Inc, S Cicero Avenue, Alsip User sale Historical New Supply 8,, South Suburbs Active Construction Projects MAP TYPE SIZE (SF) ADDRESS DEVELOPER None to report Square Feet -, -8, -,, 6 7 YTD 8 Active Spec BTS 76,, 8, Demo -767, -8,96-69, Research & Forecast Report First Quarter 8 Chicago/Industrial Colliers International

32 Southeast Wisconsin Quarter in Review» While net absorption has been consistently positive, the Southeast Wisconsin vacancy rate has been on a general increase over the past three years, ending the first quarter of 8 at 6.6 percent. This represents an increase of basis points since the end of 7, and is now 9 basis points above the. percent rate recorded one year ago. Submarket Indicators SOUTHEAST WISCONSIN Q 8 Q 7 Q 7 VACANCY RATE 6.6% 6.%.% NET ABSORPTION (SF),6 7, 7,66 NEW SUPPLY (SF),9 699, 9,77 UNDER CONSTRUCTION (SF), 7,8,,8 NEW LEASING ACTIVITY (SF) 6,8,8 7,997 AVG ASKING RENTAL RATE $.8 $. $.9» This increase is primarily due to recent speculative construction completions introducing new vacant space to the submarket, pushing the vacancy rate up. Despite the increase, few vacant big box spaces are currently available. For users looking for at least, square feet, only five spaces are vacant in Southeast Wisconsin.» Net absorption during the first quarter of 8 totaled,6 square feet, the seventh consecutive quarter with a positive net absorption tally. During that time period, net absorption has totaled.8 million square feet and averaged about, square feet per quarter. Vacancy Rate & Net Absorption Vacancy Rate % 8% 6% % % % 6 7 YTD Net Absorption (millions of SF)» Two construction projects were completed between January and March. The largest delivery was a 7,8-square-foot speculative building developed by Land and Lakes Development Company in the Mount Pleasant Business.» Several buildings are expected to begin construction over the next six months, including for speculative projects totaling. million square feet and a,-square-foot build-to-suit facility for candy maker Haribo in Kenosha.» New leasing activity totaled 6,8 square feet during the first quarter of 8, the greatest quarterly tally since the first quarter of 7. The largest new lease of the quarter involved shipping supply provider Uline, Inc. leasing the entire 7,8-square-foot building recently developed by CenterPoint Properties at 9 8th Avenue in Pleasant Prairie. Forecast With no speculative construction projects scheduled to deliver before the end of the year in Southeast Wisconsin, continued demand will likely result in an improving vacancy rate over the coming quarters. Thereafter, new speculative construction, if delivered vacant, may have a negative impact on the vacancy rate until the buildings are leased. Available Space for Lease Profile,-99,999 SF,-99,999 SF,-99,999 SF,-99,999 SF,+ SF Vacant Occupied Under Construction Largest Available Spaces for Lease MAP SIZE (SF) ADDRESS, 8th Avenue, Pleasant Prairie 6,68 Wilmot Road, Pleasant Prairie,7 76 Durand Avenue, Sturtevant 7,8 Meridian Drive, Mount Pleasant,7 88 8th Street, Somers

33 9 9 9 Caledonia East Troy Rochester Mount Pleasant John H Batten Memorial Racine Burlington Municipal Burlington Union Grove Sylvania 9 Sturtevant Kenosha Regional Kenosha Lease transaction Sale transaction Active construction project Large available block of space Westosha WISCONSIN Pleasant Prairie Zion Southeast Wisconsin Significant Q 8 Lease Transactions Transactions in blue designate Colliers International transactions MAP TENANT SIZE (SF) ADDRESS TYPE Uline, Inc. 7,8 9 8th Avenue, Pleasant Prairie New lease CTDI, Inc. 6, th Avenue, Pleasant Prairie New lease Hospira, Inc. 8, 66 8nd Avenue, Pleasant Prairie Lease renewal FNA Group,79 7nd Avenue, Pleasant Prairie New lease Southeast Wisconsin Significant Q 8 Sale Transactions MAP BUYER SIZE (SF) ADDRESS Transactions in blue designate TYPE Colliers International transactions None to report Historical New Supply Millions of Square Feet Southeast Wisconsin Active Construction Projects MAP TYPE SIZE (SF) ADDRESS DEVELOPER Build-to-Suit, 8 Deback Lane, Caledonia Norco Manufacturing Corporation YTD 8 Active Spec 8, 9,7,8,9,,778 7,8 BTS,8,,6,97,8, 99,77,89, Demo Research & Forecast Report First Quarter 8 Chicago/Industrial Colliers International