The CoStar Industrial Report

The CoStar Industrial Report T H I R D Q U A R T E R 2 0 1 0 National Industrial Market

National Industrial Market THIRD QUARTER 2010 NATIONAL Table of Contents Table of Contents.................................................................... A Methodology........................................................................ B Terms & Definitions.................................................................. C Market Highlights & Overview......................................................... 1 Employment Analysis................................................................ 14 Employment & Unemployment Analysis Inventory & Development Analysis..................................................... 15 Inventory & Development Analysis Map of Growth in Inventory Last 5 Years Select Top Deliveries Select Top Under Construction Properties Figures at a Glance.................................................................. 20 Figures at a Glance by Building Type & Market Historical Figures at a Glance Leasing Activity Analysis............................................................. 30 Leasing Activity Analysis Select Top Lease Transactions Map of Change In Vacant Square Footage Last 12 Months Sales Activity Analysis............................................................... 33 Sales Activity Analysis Select Top Sales Transactions Select Same Building Sales 2010 COSTAR GROUP, INC. THE COSTAR INDUSTRIAL REPORT A

NATIONAL THIRD QUARTER 2010 National Industrial Market Methodology The CoStar Industrial Report calculates Industrial statistics using CoStar Group s base of existing,under construction and under renovation Industrial buildings in each given metropolitan area. All Industrial building types are included, including warehouse, flex / research & development, distribution, manufacturing, industrial showroom, and service buildings, in both single-tenant and multi-tenant buildings, including owner-occupied buildings. CoStar Group s national database includes approximately 71.7 billion square feet of coverage in 3 million properties. All rental rates reported in the CoStar Industrial Report are calculated using the quoted rental rate for each property. CoStar regularly opens new markets to expand its geographic coverage which results in varying start dates for historical data. Due to differences in market start dates and a desire to show as long a historical timeframe as possible, only the following markets are included in the historical charts within this report: Atlanta, Austin, Baltimore, Boston, Broward County, Charlotte, Chicago, Cincinnati, Cleveland, Columbus, Dallas/Ft Worth, Dayton, Denver, Detroit, East Bay/Oakland, Houston, Indianapolis, Inland Empire (California), Jacksonville (Florida), Kansas City, Long Island (New York), Los Angeles, Memphis, Miami-Dade County, Nashville, Northern New Jersey, Orange (California), Orlando, Palm Beach County, Philadelphia, Phoenix, Pittsburgh, Raleigh/Durham, Sacramento, San Diego, San Francisco, Seattle/Puget Sound, South Bay/San Jose, St. Louis, Tampa/St Petersburg, Washington, and Westchester/ So Connecticut. When ever possible all markets are included to provide as broad as possible national coverage. The Market Highlights and Overview narrative includes all markets. For information on subscribing to CoStar s other products and services, please contact us at 1-877-7COSTAR, or visit our web site at www.costar.com Copyright 2010 CoStar Group, Inc. All Rights Reserved. Although CoStar makes efforts to ensure the accuracy and reliability of the information contained herein, CoStar makes no guarantee, representation or warranty regarding the quality, accuracy, timeliness or completeness of the information. The publication is provided as is and CoStar expressly disclaims any guarantees, representations or warranties of any kind, including those of MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. CoStar Group, Inc. 1331 L ST NW Washington, DC USA 20005 (800) 204-5960 www.costar.com NASDAQ: CSGP B THE COSTAR INDUSTRIAL REPORT 2010 COSTAR GROUP, INC.

National Industrial Market THIRD QUARTER 2010 NATIONAL Terms & Definitions Availability Rate: The ratio of available space to total rentable space, calculated by dividing the total available square feet by the total rentable square feet. Available Space: The total amount of space that is currently being marketed as available for lease in a given time period. It includes any space that is available, regardless of whether the space is vacant, occupied, available for sublease, or available at a future date. Build-to-Suit: A term describing a particular property, developed specifically for a certain tenant to occupy, with structural features, systems, or improvement work designed specifically for the needs of that tenant. A build-to-suit can be leased or owned by the tenant. In a leased build-to-suit, a tenant will usually have a long term lease on the space. Buyer: The individual, group, company, or entity that has purchased a commercial real estate asset. Cap Rate: Short for capitalization rate. The Cap Rate is a calculation that reflects the relationship between one year s net operating income and the current market value of a particular property. The Cap Rate is calculated by dividing the annual net operating income by the sales price (or asking sales price). CBD: Abbreviation for Central Business District. (See also: Central Business District) Central Business District: The designations of Central Business District (CBD) and Suburban refer to a particular geographic area within a metropolitan statistical area (MSA) describing the level of real estate development found there. The CBD is characterized by a high density, well organized core within the largest city of a given MSA. Class A: A classification used to describe buildings that generally qualify as extremely desirable investment-grade properties and command the highest rents or sale prices compared to other buildings in the same market. Such buildings are well located and provide efficient tenant layouts as well as high quality, and in some buildings, one-of-a-kind floor plans. They can be an architectural or historical landmark designed by prominent architects. These buildings contain a modern mechanical system, and have above-average maintenance and management as well as the best quality materials and workmanship in their trim and interior fittings. They are generally the most attractive and eagerly sought by investors willing to pay a premium for quality. Class B: A classification used to describe buildings that generally qualify as a more speculative investment, and as such, command lower rents or sale prices compared to Class A properties. Such buildings offer utilitarian space without special attractions, and have ordinary design, if new or fairly new; good to excellent design if an older non-landmark building. These buildings typically have average to good maintenance, management and tenants. They are less appealing to tenants than Class A properties, and may be deficient in a number of respects including floor plans, condition and facilities. They lack prestige and must depend chiefly on a lower price to attract tenants and investors. Class C: A classification used to describe buildings that generally qualify as no-frills, older buildings that offer basic space and command lower rents or sale prices compared to other buildings in the same market. Such buildings typically have below-average maintenance and management, and could have mixed or low tenant prestige, inferior elevators, and/or mechanical/electrical systems. These buildings lack prestige and must depend chiefly on a lower price to attract tenants and investors. Construction Starts: Buildings that began construction during a specific period of time. (See also: Deliveries) Contiguous Blocks of Space: Space within a building that is, or is able to be joined together into a single contiguous space. Deliveries: Buildings that complete construction during a specified period of time. In order for space to be considered delivered, a certificate of occupancy must have been issued for the property. Delivery Date: The date a building completes construction and receives a certificate of occupancy. Developer: The company, entity or individual that transforms raw land to improved property by use of labor, capital and entrepreneurial efforts. Direct Space: Space that is being offered for lease directly from the landlord or owner of a building, as opposed to space being offered in a building by another tenant (or broker of a tenant) trying to sublet a space that has already been leased. Existing Inventory: The square footage of buildings that have received a certificate of occupancy and are able to be occupied by tenants. It does not include space in buildings that are either planned, under construction or under renovation. Flex Building: A type of building designed to be versatile, which may be used in combination with office (corporate headquarters), research and development, quasi-retail sales, and including but not limited to industrial, warehouse, and distribution uses. A typical flex building will be one or two stories with at least half of the rentable area being used as office space, have ceiling heights of 16 feet or less, and have some type of drive-in door, even though the door may be glassed in or sealed off. Full Service Rental Rate: Rental rates that include all operating expenses such as utilities, electricity, janitorial services, taxes and insurance. Gross Absorption: The total change in occupied space over a given period of time, counting space that is occupied but not space that is vacated by tenants. Gross absorption differs from leasing Activity, which is the sum of all space leased over a certain period of time. Unless otherwise noted Gross Absorption includes direct and sublease space. Growth in Inventory: The change in size of the existing square footage in a given area over a given period of time, generally due to the construction of new buildings. Industrial Building: A type of building adapted for such uses as the assemblage, processing, and/or manufacturing of products from raw materials or fabricated parts. Additional uses include warehousing, distribution, and maintenance facilities. The primary purpose of the space is for storing, producing, assembling, or distributing product. Landlord Rep: (Landlord Representative) In a typical lease transaction between an owner/landlord and tenant, the broker that represents the interests of the owner/landlord is referred to as the Landlord Rep. Leased Space: All the space that has a financial lease obligation. It includes all leased space, regardless of whether the space is currently occupied by a tenant. Leased space also includes space being offered for sublease. Leasing Activity: The volume of square footage that is committed to and signed under a lease obligation for a specific building or market in a given period of time. It includes direct leases, subleases and renewals of existing leases. It also includes any pre-leasing activity in planned, under construction, or under renovation buildings. Market: Geographic boundaries that serve to delineate core areas that are competitive with each other and constitute a generally accepted primary competitive set of areas. Markets are buildingtype specific, and are non-overlapping contiguous geographic designations having a cumulative sum that matches the boundaries of the entire Region (See also: Region). Markets can be further subdivided into Submarkets. (See also: Submarkets) 2010 COSTAR GROUP, INC. THE COSTAR INDUSTRIAL REPORT C

NATIONAL THIRD QUARTER 2010 National Industrial Market Multi-Tenant: Buildings that house more than one tenant at a given time. Usually, multi-tenant buildings were designed and built to accommodate many different floor plans and designs for different tenant needs. (See also: Tenancy). Net Absorption: The net change in occupied space over a given period of time. Unless otherwise noted Net Absorption includes direct and sublease space. Net Rental Rate: A rental rate that excludes certain expenses that a tenant could incur in occupying office space. Such expenses are expected to be paid directly by the tenant and may include janitorial costs, electricity, utilities, taxes, insurance and other related costs. New Space: Sometimes called first generation space, refers to space that has never been occupied and/or leased by a tenant. Occupied Space: Space that is physically occupied by a tenant. It does not include leased space that is not currently occupied by a tenant. Office Building: A type of commercial building used exclusively or primarily for office use (business), as opposed to manufacturing, warehousing, or other uses. Office buildings may sometimes have other associated uses within part of the building, i.e., retail sales, financial, or restaurant, usually on the ground floor. Owner: The company, entity, or individual that holds title on a given building or property. Planned/Proposed: The status of a building that has been announced for future development but not yet started construction. Preleased Space: The amount of space in a building that has been leased prior to its construction completion date, or certificate of occupancy date. Price/SF: Calculated by dividing the price of a building (either sales price or asking sales price) by the Rentable Building Area (RBA). Property Manager: The company and/or person responsible for the day-to-day operations of a building, such as cleaning, trash removal, etc. The property manager also makes sure that the various systems within the building, such as the elevators, HVAC, and electrical systems, are functioning properly. Quoted Rental Rate: The asking rate per square foot for a particular building or unit of space by a broker or property owner. Quoted rental rates may differ from the actual rates paid by tenants following the negotiation of all terms and conditions in a specific lease. RBA: Abbreviation for Rentable Building Area. (See also: Rentable Building Area) Region: Core areas containing a large population nucleus, that together with adjacent communities have a high degree of economic and social integration. Regions are further divided into market areas, called Markets. (See also: Markets) Relet Space: Sometimes called second generation or direct space, refers to existing space that has previously been occupied by another tenant. Rentable Building Area: (RBA) The total square footage of a building that can be occupied by, or assigned to a tenant for the purpose of determining a tenant s rental obligation. Generally RBA includes a percentage of common areas including all hallways, main lobbies, bathrooms, and telephone closets. Rental Rates: The annual costs of occupancy for a particular space quoted on a per square foot basis. Sales Price: The total dollar amount paid for a particular property at a particular point in time. Sales Volume: The sum of sales prices for a given group of buildings in a given time period. Seller: The individual, group, company, or entity that sells a particular commercial real estate asset. SF: Abbreviation for Square Feet. Single-Tenant: Buildings that are occupied, or intended to be occupied by a single tenant. (See also: Build-to-suit and Tenancy) Sublease Space: Space that has been leased by a tenant and is being offered for lease back to the market by the tenant with the lease obligation. Sublease space is sometimes referred to as sublet space. Submarkets: Specific geographic boundaries that serve to delineate a core group of buildings that are competitive with each other and constitute a generally accepted primary competitive set, or peer group. Submarkets are building type specific (office, industrial, retail, etc.), with distinct boundaries dependent on different factors relevant to each building type. Submarkets are non-overlapping, contiguous geographic designations having a cumulative sum that matches the boundaries of the Market they are located within (See also: Market). Suburban: The Suburban and Central Business District (CBD) designations refer to a particular geographic area within a metropolitan statistical area (MSA). Suburban is defined as including all office inventory not located in the CBD. (See also: CBD) Tenancy: A term used to indicate whether or not a building is occupied by multiple tenants (See also: Multi-tenant) or a single tenant. (See also: Single-tenant) Tenant Rep: Tenant Rep stands for Tenant Representative. In a typical lease transaction between an owner/landlord and tenant, the broker that represents the interests of the tenant is referred to as a Tenant Rep. Time On Market: A measure of how long a currently available space has been marketed for lease, regardless of whether it is vacant or occupied. Under Construction: The status of a building that is in the process of being developed, assembled, built or constructed. A building is considered to be under construction after it has begun construction and until it receives a certificate of occupancy. Vacancy Rate: A measurement expressed as a percentage of the total amount of physically vacant space divided by the total amount of existing inventory. Under construction space generally is not included in vacancy calculations. Vacant Space: Space that is not currently occupied by a tenant, regardless of any lease obligation that may be on the space. Vacant space could be space that is either available or not available. For example, sublease space that is currently being paid for by a tenant but not occupied by that tenant, would be considered vacant space. Likewise, space that has been leased but not yet occupied because of finish work being done, would also be considered vacant space. Weighted Average Rental Rate: Rental rates that are calculated by factoring in, or weighting, the square footage associated with each particular rental rate. This has the effect of causing rental rates on larger spaces to affect the average more than that of smaller spaces. The weighted average rental rate is calculated by taking the ratio of the square footage associated with the rental rate on each individual available space to the square footage associated with rental rates on all available spaces, multiplying the rental rate by that ratio, and then adding together all the resulting numbers. Unless specifically specified otherwise, rental rate averages include both Direct and Sublet available spaces. Year Built: The year in which a building completed construction and was issued a certificate of occupancy. YTD: Abbreviation for Year-to-Date. Describes statistics that are cumulative from the beginning of a calendar year through whatever time period is being studied. D THE COSTAR INDUSTRIAL REPORT 2010 COSTAR GROUP, INC.

National Industrial Market OVERVIEW THIRD QUARTER 2010 NATIONAL U.S. s Vacancy Stays at 10.3% Net Absorption Positive 11,891,816 SF in the Quarter The U.S. Industrial market ended the third quarter 2010 with a vacancy rate of 10.3%. The vacancy rate was unchanged over the previous quarter, with net absorption totaling positive 11,891,816 square feet in the third quarter. Vacant sublease space decreased in the quarter, ending the quarter at 81,958,461 square feet. Rental rates ended the third quarter at $5.22, a decrease of eight cents over the previous quarter. A total of 94 buildings delivered to the market in the quarter totaling 6,447,352 square feet, with 20,724,860 square feet still under construction at the end of the quarter. Absorption Net absorption for the overall U.S. Industrial market was positive 11,891,816 square feet in the third quarter 2010. That compares to positive 7,524,355 square feet in the second quarter 2010, negative (23,420,263) square feet in the first quarter 2010, and negative (20,415,326) square feet in the fourth quarter 2009. Tenants moving out of large blocks of space in 2010 include: First Quality moving out of (800,000) square feet at Greenwood Industrial Park in the Atlanta market; SUPERVALU, Inc. moving out of (750,767) square feet at 3700 Industrial Rd in the Philadelphia market; and Reebok International moving out of (329,336) square feet at 1000 Technology Center Drive in the Boston market. Tenants moving into large blocks of space in 2010 include: Kraft moving into 980,000 square feet at Majestic Airport Center Three - Bldg 5 in the Atlanta market; Amazon.com, Inc. moving into 833,300 square feet at Cumberland Valley Distribution Center in the Philadelphia market; and American Standard moving into 626,100 square feet at Duke Intermodal I in the Dallas/ Ft. Worth market. The Flex building market recorded net absorption of positive 1,011,541 square feet in the third quarter 2010, compared to positive 2,243,963 square feet in the second quarter 2010, negative (4,688,842) in the first quarter 2010, and negative (1,729,942) in the fourth quarter 2009. The Warehouse building market recorded net absorption of positive 10,880,275 square feet in the third quarter 2010 compared to positive 5,280,392 square feet in the second quarter 2010, negative (18,731,421) in the first quarter 2010, and negative (18,685,384) in the fourth quarter 2009. Vacancy The Industrial vacancy rate in the U.S. market area changed to 10.3% at the end of the third quarter 2010. The vacancy rate was 10.4% at the end of the second quarter 2010, 10.4% at the end of the first quarter 2010, and 10.2% at the end of the fourth quarter 2009. Flex projects reported a vacancy rate of 13.0% at the end of the third quarter 2010, 13.0% at the end of the second quarter 2010, 13.1% at the end of the first quarter 2010, and 12.9% at the end of the fourth quarter 2009. Warehouse projects reported a vacancy rate of 10.0% at the end of the third quarter 2010, 10.0% at the end of second quarter 2010, 10.0% at the end of the first quarter 2010, and 9.9% at the end of the fourth quarter 2009. Vacancy Rates by Building Type* 2000-2010 16% Flex Warehouse Total Market 14% 12% Vacancy Rate 10% 8% 6% 4% 2% 0% 2000 4q 2001 2q 2001 4q 2002 2q 2002 4q 2003 2q 2003 4q 2004 2q 2004 4q 2005 2q 2005 4q 2006 2q 2006 4q 2007 2q 2007 4q 2008 2q 2008 4q 2009 2q 2009 4q 2010 2q Source: CoStar Property *Excludes markets - see Methodology page. 2010 COSTAR GROUP, INC. THE COSTAR INDUSTRIAL REPORT 1

NATIONAL THIRD QUARTER 2010 National Industrial Market OVERVIEW Largest Lease Signings The largest lease signings occurring in 2010 included: the 1,207,021-square-foot lease signed by Amazon.com, Inc. at 4750-5050 W Mohave St in the Phoenix market; the 1,170,218- square-foot lease signed by Hamilton Beach Brands, Inc. at Olive Branch Distribution Center #2 in the Memphis market; and the 1,074,888-square-foot lease signed by WF Whelan at 8249 N Haggerty Rd in the Detroit market. Sublease Vacancy The amount of vacant sublease space in the U.S. market decreased to 81,958,461 square feet by the end of the third quarter 2010, from 85,787,953 square feet at the end of the second quarter 2010. There was 88,033,021 square feet vacant at the end of the first quarter 2010 and 87,527,092 square feet at the end of the fourth quarter 2009. U.S. s Flex projects reported vacant sublease space of 11,964,811 square feet at the end of third quarter 2010, down from the 12,882,972 square feet reported at the end of the second quarter 2010. There were 13,240,723 square feet of sublease space vacant at the end of the first quarter 2010, and 13,826,259 square feet at the end of the fourth quarter 2009. Warehouse projects reported decreased vacant sublease space from the second quarter 2010 to the third quarter 2010. Sublease vacancy went from 72,904,981 square feet to 69,993,650 square feet during that time. There was 74,792,298 square feet at the end of the first quarter 2010, and 73,700,833 square feet at the end of the fourth quarter 2009. Rental Rates The average quoted asking rental rate for available Industrial space was $5.22 per square foot per year at the end of the third quarter 2010 in the U.S. market area. This represented a 1.3% decrease in quoted rental rates from the end of the second quarter 2010, when rents were reported at $5.29 per square foot. The average quoted rate within the Flex sector was $10.06 per square foot at the end of the third quarter 2010, while Warehouse rates stood at $4.66. At the end of the second quarter 2010, Flex rates were $10.19 per square foot, and Warehouse rates were $4.72. Deliveries and Construction During the third quarter 2010, 94 buildings totaling 6,447,352 square feet were completed in the U.S. market area. This compares to 104 buildings totaling 7,583,436 square feet that were completed in the second quarter 2010, 145 buildings totaling 8,813,365 square feet completed in the first quarter 2010, and 17,062,761 square feet in 236 buildings completed in the fourth quarter 2009. There were 20,724,860 square feet of Industrial space under construction at the end of the third quarter 2010. Some of the notable 2010 deliveries include: 31111 Miller Rd, a 1,057,126-square-foot facility that delivered in first quarter 2010 and is now 100% occupied, and ULINE, a 1,000,000- square-foot building that delivered in third quarter 2010 and is now 100% occupied. The largest projects underway at the end of third quarter 2010 were 5757 Wayne Newton - Terminal 3, a 1,900,000- square-foot building with 100% of its space pre-leased, and Skechers USA, a 1,820,457-square-foot facility that is 100% pre-leased. Inventory Total Industrial inventory in the U.S. market area amounted to 19,895,281,795 square feet in 558,240 buildings as of the end of the third quarter 2010. The Flex sector consisted of 2,223,911,414 square feet in 84,736 projects. The Warehouse sector consisted of 17,671,370,381 square feet in 473,504 buildings. Within the Industrial market there were 57,590 owneroccupied buildings accounting for 3,565,533,008 square feet of Industrial space. Sales Activity Tallying industrial building sales of 15,000 square feet or larger, U.S. industrial sales figures rose during the second quarter 2010 in terms of dollar volume compared to the first quarter of 2010. In the second quarter, 859 industrial transactions closed with a total volume of $3,168,986,539. The 859 buildings totaled 66,665,925 square feet and the average price per square foot equated to $47.54 per square foot. That compares to 706 transactions totaling $2,180,032,451 in the first quarter. The total square footage was 52,679,194 for an average price per square foot of $41.38. Total year-to-date industrial building sales activity in 2010 is up compared to the previous year. In the first six months of 2010, the market saw 1,565 industrial sales transactions with a total volume of $5,349,018,990. The price per square foot has averaged $44.82 this year. In the first six months of 2009, the market posted 1,203 transactions with a total volume of $4,100,245,442. The price per square foot averaged $52.31. Cap rates have been higher in 2010, averaging 8.95%, compared to the first six months of last year when they averaged 8.70%. One of the largest transactions that occurred within the last quarter in the U.S. market is the sale of 4030 E 26th St in the Los Angeles market. This 244,292 square foot industrial building sold for $12,450,000, or 50.96 per square foot. The property sold on 9/1/2010. Albany/Schenectady/Troy With no new office space being delivered to the market, and positive 403,927 square feet of net absorption, Albany/ Schenectady/Troy s vacancy rate went from 7.8% to 7.3% in the 2 THE COSTAR INDUSTRIAL REPORT 2010 COSTAR GROUP, INC.

National Industrial Market OVERVIEW THIRD QUARTER 2010 NATIONAL quarter. Rental rates went from $5.29 to $5.23 during that time. At the end of the quarter, there was 1,499,695 square feet underway for future Albuquerque The Albuquerque office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of negative (463,921) square feet caused the vacancy rate to up from 8.1%to 9.1% in the quarter. Rental rates stood at $7.15. Anchorage With no new office space being delivered to the market, and positive 26,366 square feet of net absorption, Anchorage s vacancy rate went from 3.5% to 3.3% in the quarter. Rental rates went from $11.73 to $12.01 during that time. At the end of the quarter, there was 16,000 square feet underway for future Asheville The Asheville office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of negative (136,326) square feet caused the vacancy rate to up from 13.4%to 14.2% in the quarter. Rental rates stood at $3.94. Atlanta The Atlanta industrial market saw vacancies rise and rental rates decrease from the second quarter 2010 to the third quarter 2010. The overall vacancy rate currently sits at 14.5%, from 14.0% in the previous quarter. Rental rates ended the quarter at $3.94 per square foot, from $4.00 in the previous quarter. There was a total of 998,750 square feet that delivered in the quarter, with 9,763 square feet still under construction at the end of the quarter. Augusta/Richmond County The Augusta/Richmond County office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of negative (212,287) square feet caused the vacancy rate to up from 20.6%to 21.5% in the quarter. Rental rates stood at $2.63. Austin The Austin industrial market saw vacancies rise and rental rates increase from the second quarter 2010 to the third quarter 2010. The overall vacancy rate currently sits at 13.7%, from 13.3% in the previous quarter. Rental rates ended the quarter at $6.70 per square foot, from $6.68 in the previous quarter. There was a total of 11,250 square feet that delivered in the quarter, with 19,285 square feet still under construction at the end of the quarter. Absorption & Deliveries* Past 9 Quarters Millions SF 60.0 40.0 20.0 0.0 (20.0) (40.0) (60.0) (80.0) (100.0) (58.2) 37.3 Net Absorption (75.0) 25.4 (41.1) (18.2) (19.7) 6.5 8.8 5.7 5.7 Bakersfield 2009 2009 2q 2009 2009 4q 2010 2010 2q 2010 With no new office space being delivered to the market, and positive 27,404 square feet of net absorption, Bakersfield s vacancy rate went from 10.8% to 10.7% in the quarter. Rental rates went from $4.99 to $4.94 during that time. At the end of the quarter, there was 46,170 square feet underway for future Baltimore The Baltimore industrial market saw vacancies fall and rental rates decrease from the second quarter 2010 to the third quarter 2010. The overall vacancy rate currently sits at 11.0%, from 11.2% in the previous quarter. Rental rates ended the quarter at $5.34 per square foot, from $5.41 in the previous quarter. There was a total of 35,280 square feet that delivered in the quarter, with 250,360 square feet still under construction at the end of the quarter. Baton Rouge positive 168,146 square feet of net absorption, Baton Rouge s vacancy rate went from 20.7% to 19.6% in the quarter. Rental rates went from $4.80 to $4.84 during that time. At the end of the quarter, there was 100,000 square feet underway for future Beaumont/Port Arthur The Beaumont/Port Arthur office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of negative (54,816) square feet caused the vacancy rate to up from 3.8%to 4.5% in the quarter. Rental rates stood at $4.49. Birmingham The Birmingham office market reported no new deliveries and no space under construction at the end of the third quarter 22.6 14.0 8.3 Deliveries 2010 COSTAR GROUP, INC. THE COSTAR INDUSTRIAL REPORT 3

NATIONAL THIRD QUARTER 2010 National Industrial Market OVERVIEW 2010. With this limited construction activity, net absorption of positive 162,218 square feet caused the vacancy rate to down from 9.3%to 9.2% in the quarter. Rental rates stood at $3.41. Boise City/Nampa The Boise City/Nampa industrial market saw vacancies fall and rental rates decrease from the second quarter 2010 to the third quarter 2010. The overall vacancy rate currently sits at 6.8%, from 7.4% in the previous quarter. Rental rates ended the quarter at $5.56 per square foot, from $5.70 in the previous quarter. There was a total of 25,200 square feet that delivered in the quarter, with 87,043 square feet still under construction at the end of the quarter. Boston The Boston industrial market saw vacancies rise and rental rates decrease from the second quarter 2010 to the third quarter 2010. The overall vacancy rate currently sits at 11.9%, from 11.8% in the previous quarter. Rental rates ended the quarter at $6.16 per square foot, from $6.25 in the previous quarter. There was a total of 26,969 square feet that delivered in the quarter, with 173,847 square feet still under construction at the end of the quarter. Bremerton/Silverdale With no new office space being delivered to the market, and negative (2,697) square feet of net absorption, Bremerton/ Silverdale s vacancy rate went from 9.0% to 9.2% in the quarter. Rental rates went from $6.99 to $6.93 during that time. At the end of the quarter, there was 144,000 square feet underway for future Broward County positive 221,899 square feet of net absorption, Broward County s vacancy rate went from 9.7% to 9.5% in the quarter. Rental rates went from $7.98 to $7.86 during that time. At the end of the quarter, there was 17,565 square feet underway for future Brownsville/Harlingen The Brownsville/Harlingen office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of negative (3,422) square feet caused the vacancy rate to up from 11.0%to 11.1% in the quarter. Rental rates stood at $3.51. Buffalo/Niagara Falls With no space currently under construction, Buffalo/Niagara Falls absorbed 212,646 square feet of space and delivered 4,872 square feet of space, resulting in a vacancy rate that went from 8.8% to 8.4% over the course of the quarter. Rental rates went from $4.24 to $4.25 per square foot. Charleston WV The Charleston WV office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of positive 1,804 square feet caused the vacancy rate to down from 4.4%to 4.3% in the quarter. Rental rates stood at $5.25. Charleston/N Charleston The Charleston/N Charleston office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of positive 209,957 square feet caused the vacancy rate to down from 13.1%to 12.4% in the quarter. Rental rates stood at $4.86. Charlotte The Charlotte industrial market saw vacancies rise and rental rates decrease from the second quarter 2010 to the third quarter 2010. The overall vacancy rate currently sits at 13.8%, from 13.4% in the previous quarter. Rental rates ended the quarter at $3.88 per square foot, from $3.93 in the previous quarter. There was a total of 125,400 square feet that delivered in the quarter, with 93,133 square feet still under construction at the end of the quarter. Chattanooga With no space currently under construction, Chattanooga absorbed (1,708) square feet of space and delivered 59,311 square feet of space, resulting in a vacancy rate that went from 22.0% to 22.2% over the course of the quarter. Rental rates went from $3.35 to $2.99 per square foot. Chicago The Chicago industrial market saw vacancies fall and rental rates decrease from the second quarter 2010 to the third quarter 2010. The overall vacancy rate currently sits at 12.1%, from 12.3% in the previous quarter. Rental rates ended the quarter at $4.87 per square foot, from $4.91 in the previous quarter. There was a total of 1,144,278 square feet that delivered in the quarter, with 410,000 square feet still under construction at the end of the quarter. Cincinnati The Cincinnati industrial market saw vacancies fall and rental rates decrease from the second quarter 2010 to the third quarter 2010. The overall vacancy rate currently sits at 9.1%, from 9.5% in the previous quarter. Rental rates ended the quarter at $3.42 per square foot, from $3.48 in the previous quarter. There was a total of 28,000 square feet that delivered in the quarter, with 307,278 square feet still under construction at the end of the quarter. Cleveland 4 THE COSTAR INDUSTRIAL REPORT 2010 COSTAR GROUP, INC.

National Industrial Market OVERVIEW THIRD QUARTER 2010 NATIONAL positive 238,301 square feet of net absorption, Cleveland s vacancy rate went from 9.8% to 9.8% in the quarter. Rental rates went from $3.70 to $3.70 during that time. At the end of the quarter, there was 27,231 square feet underway for future Colorado Springs The Colorado Springs office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of positive 97,009 square feet caused the vacancy rate to down from 13.8%to 13.5% in the quarter. Rental rates stood at $6.11. Columbia The Columbia office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of positive 177,072 square feet caused the vacancy rate to down from 11.2%to 10.8% in the quarter. Rental rates stood at $3.98. Columbus With no new office space being delivered to the market, and positive 654,865 square feet of net absorption, Columbus s vacancy rate went from 11.7% to 11.4% in the quarter. Rental rates went from $3.20 to $3.21 during that time. At the end of the quarter, there was 12,000 square feet underway for future Columbus GA The Columbus GA office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of positive 74,017 square feet caused the vacancy rate to down from 13.3%to 12.9% in the quarter. Rental rates stood at $2.95. Corpus Christi positive 77,654 square feet of net absorption, Corpus Christi s vacancy rate went from 5.9% to 5.4% in the quarter. Rental rates went from $5.70 to $5.64 during that time. At the end of the quarter, there was 16,800 square feet underway for future Dallas/Ft Worth The Dallas/Ft Worth industrial market saw vacancies rise and rental rates decrease from the second quarter 2010 to the third quarter 2010. The overall vacancy rate currently sits at 12.0%, from 11.8% in the previous quarter. Rental rates ended the quarter at $4.41 per square foot, from $4.45 in the previous quarter. There was a total of 57,804 square feet that delivered in the quarter, with 628,686 square feet still under construction at the end of the quarter. Davenport/Moline/Rock Island The Davenport/Moline/Rock Island office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of positive 19,232 square feet caused the vacancy rate to down from 9.9%to 9.7% in the quarter. Rental rates stood at $3.83. Dayton positive 348,703 square feet of net absorption, Dayton s vacancy rate went from 14.4% to 14.1% in the quarter. Rental rates went from $3.57 to $3.48 during that time. At the end of the quarter, there was 1,557,239 square feet underway for future Deltona/Daytona Beach The Deltona/Daytona Beach office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of positive 11,244 square feet caused the vacancy rate to down from 10.1%to 10.0% in the quarter. Rental rates stood at $5.26. Denver The Denver industrial market saw vacancies fall and rental rates decrease from the second quarter 2010 to the third quarter 2010. The overall vacancy rate currently sits at 8.0%, from 8.1% in the previous quarter. Rental rates ended the quarter at $5.94 per square foot, from $5.99 in the previous quarter. There was a total of 51,381 square feet that delivered in the quarter, with 153,063 square feet still under construction at the end of the quarter. Des Moines With no new office space being delivered to the market, and positive 70,327 square feet of net absorption, Des Moines s vacancy rate went from 6.7% to 6.6% in the quarter. Rental rates went from $4.13 to $4.09 during that time. At the end of the quarter, there was 20,000 square feet underway for future Detroit With no new office space being delivered to the market, and negative (183,456) square feet of net absorption, Detroit s vacancy rate went from 14.1% to 14.2% in the quarter. Rental rates went from $4.60 to $4.57 during that time. At the end of the quarter, there was 546,633 square feet underway for future Duluth The Duluth office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of positive 34,554 square feet caused the vacancy rate to down from 4.8%to 4.4% in the quarter. Rental rates stood at $5.25. East Bay/Oakland With no new office space being delivered to the market, 2010 COSTAR GROUP, INC. THE COSTAR INDUSTRIAL REPORT 5

NATIONAL THIRD QUARTER 2010 National Industrial Market OVERVIEW and negative (145,590) square feet of net absorption, East Bay/ Oakland s vacancy rate went from 11.3% to 11.3% in the quarter. Rental rates went from $7.57 to $7.49 during that time. At the end of the quarter, there was 764,200 square feet underway for future El Paso With no space currently under construction, El Paso absorbed 652,545 square feet of space and delivered 33,202 square feet of space, resulting in a vacancy rate that went from 17.3% to 15.0% over the course of the quarter. Rental rates went from $3.84 to $3.88 per square foot. Erie The Erie office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of positive 10,970 square feet caused the vacancy rate to down from 9.6%to 9.4% in the quarter. Rental rates stood at $2.34. Evansville The Evansville office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of negative (357,789) square feet caused the vacancy rate to up from 15.7%to 17.5% in the quarter. Rental rates stood at $2.94. Fayetteville With no new office space being delivered to the market, and negative (41,483) square feet of net absorption, Fayetteville s vacancy rate went from 16.4% to 16.7% in the quarter. Rental rates went from $3.24 to $3.18 during that time. At the end of the quarter, there was 20,310 square feet underway for future Fayetteville/Springdale/Rogers The Fayetteville/Springdale/Rogers office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of negative (346,031) square feet caused the vacancy rate to up from 14.4%to 16.8% in the quarter. Rental rates stood at $3.89. Fort Smith The Fort Smith office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of negative (7,380) square feet caused the vacancy rate to up from 15.0%to 15.1% in the quarter. Rental rates stood at $2.56. Fort Wayne The Fort Wayne office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of negative (398,200) square feet caused the vacancy rate to up from 12.5%to 13.6% in the quarter. Rental rates stood at $3.19. Fresno The Fresno industrial market saw vacancies rise and rental rates decrease from the second quarter 2010 to the third quarter 2010. The overall vacancy rate currently sits at 9.6%, from 9.4% in the previous quarter. Rental rates ended the quarter at $3.47 per square foot, from $3.62 in the previous quarter. There was a total of 21,872 square feet that delivered in the quarter, with 14,052 square feet still under construction at the end of the quarter. Green Bay positive 55,246 square feet of net absorption, Green Bay s vacancy rate went from 4.7% to 4.6% in the quarter. Rental rates went from $3.67 to $3.62 during that time. At the end of the quarter, there was 44,344 square feet underway for future Greensboro/Winston-Salem The Greensboro/Winston-Salem industrial market saw vacancies fall and rental rates change from the second quarter 2010 to the third quarter 2010. The overall vacancy rate currently sits at 10.1%, from 10.6% in the previous quarter. Rental rates ended the quarter at $3.05 per square foot, from $3.05 in the previous quarter. There was a total of 9,600 square feet that delivered in the quarter, with 380,000 square feet still under construction at the end of the quarter. Greenville/Spartanburg With no new office space being delivered to the market, and positive 345,869 square feet of net absorption, Greenville/ Spartanburg s vacancy rate went from 11.2% to 11.0% in the quarter. Rental rates went from $3.01 to $2.96 during that time. At the end of the quarter, there was 77,089 square feet underway for future Hampton Roads positive 111,085 square feet of net absorption, Hampton Road s vacancy rate went from 10.9% to 10.8% in the quarter. Rental rates went from $5.27 to $5.41 during that time. At the end of the quarter, there was 155,223 square feet underway for future Hartford The Hartford industrial market saw vacancies rise and rental rates decrease from the second quarter 2010 to the third quarter 2010. The overall vacancy rate currently sits at 11.0%, from 10.9% in the previous quarter. Rental rates ended the quarter at $4.49 per square foot, from $4.53 in the previous quarter. There was a total of 157,125 square feet that delivered in the quarter, with 657,000 square feet still under construction at the end of the quarter. 6 THE COSTAR INDUSTRIAL REPORT 2010 COSTAR GROUP, INC.

National Industrial Market OVERVIEW THIRD QUARTER 2010 NATIONAL Hawaii negative (38,913) square feet of net absorption, Hawaii s vacancy rate went from 4.7% to 4.8% in the quarter. Rental rates went from $11.33 to $11.51 during that time. At the end of the quarter, there was 27,737 square feet underway for future Houston The Houston industrial market saw vacancies fall and rental rates decrease from the second quarter 2010 to the third quarter 2010. The overall vacancy rate currently sits at 6.3%, from 6.6% in the previous quarter. Rental rates ended the quarter at $5.20 per square foot, from $5.25 in the previous quarter. There was a total of 220,800 square feet that delivered in the quarter, with 218,518 square feet still under construction at the end of the quarter. Huntington/Ashland With no new office space being delivered to the market, and positive 22,192 square feet of net absorption, Huntington/ Ashland s vacancy rate went from 3.6% to 3.5% in the quarter. Rental rates went from $3.55 to $3.66 during that time. At the end of the quarter, there was 60,000 square feet underway for future Huntsville The Huntsville office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of negative (61,256) square feet caused the vacancy rate to up from 17.4%to 18.0% in the quarter. Rental rates stood at $5.44. Indianapolis negative (864,992) square feet of net absorption, Indianapolis s vacancy rate went from 9.4% to 9.7% in the quarter. Rental rates went from $4.34 to $4.28 during that time. At the end of the quarter, there was 126,184 square feet underway for future Inland Empire (California) The Inland Empire (California) industrial market saw vacancies fall and rental rates decrease from the second quarter 2010 to the third quarter 2010. The overall vacancy rate currently sits at 11.2%, from 11.4% in the previous quarter. Rental rates ended the quarter at $4.82 per square foot, from $4.89 in the previous quarter. There was a total of 45,055 square feet that delivered in the quarter, with 3,108,657 square feet still under construction at the end of the quarter. Jackson The Jackson office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of positive 34,770 square feet caused the vacancy rate to down from 13.7%to 13.5% in the quarter. Rental rates stood at $3.52. Jacksonville (Florida) The Jacksonville (Florida) industrial market saw vacancies rise and rental rates decrease from the second quarter 2010 to the third quarter 2010. The overall vacancy rate currently sits at 11.6%, from 11.3% in the previous quarter. Rental rates ended the quarter at $4.10 per square foot, from $4.19 in the previous quarter. There was a total of 240,000 square feet that delivered in the quarter, with 235,000 square feet still under construction at the end of the quarter. Kansas City The vacancy rate remained unchanged in Kansas City in the third quarter. With 9,200 square feet in deliveries, and positive 146,121 square feet in net absorption, the vacancy rate held at 7.6%, the same rate reported in the previous quarter. The market had 50,000 square feet under construction at the end of the quarter, and rental rates stood at $4.20 per square foot. Killeen/Temple/Fort Hood The Killeen/Temple/Fort Hood office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of negative (229,546) square feet caused the vacancy rate to up from 2.1%to 9.0% in the quarter. Rental rates stood at $3.63. Kingsport/Bristol/Bristol The Kingsport/Bristol/Bristol office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of positive 57,202 square feet caused the vacancy rate to down from 13.1%to 12.6% in the quarter. Rental rates stood at $4.54. Knoxville The Knoxville industrial market saw vacancies fall and rental rates decrease from the second quarter 2010 to the third quarter 2010. The overall vacancy rate currently sits at 8.6%, from 10.3% in the previous quarter. Rental rates ended the quarter at $3.89 per square foot, from $4.01 in the previous quarter. There was a total of 574,884 square feet that delivered in the quarter, with 40,000 square feet still under construction at the end of the quarter. Lafayette With no space currently under construction, Lafayette absorbed 74,569 square feet of space and delivered 60,335 square feet of space, resulting in a vacancy rate that went from 14.9% to 14.5% over the course of the quarter. Rental rates went from $3.07 to $3.40 per square foot. 2010 COSTAR GROUP, INC. THE COSTAR INDUSTRIAL REPORT 7

NATIONAL THIRD QUARTER 2010 National Industrial Market OVERVIEW Las Vegas negative (1,029,838) square feet of net absorption, Las Vegas s vacancy rate went from 14.7% to 15.7% in the quarter. Rental rates went from $6.67 to $6.45 during that time. At the end of the quarter, there was 201,428 square feet underway for future Lexington/Fayette The Lexington/Fayette office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of positive 24,926 square feet caused the vacancy rate to unchanged from 5.2%to 5.2% in the quarter. Rental rates stood at $4.63. Lincoln The Lincoln industrial market saw vacancies fall and rental rates decrease from the second quarter 2010 to the third quarter 2010. The overall vacancy rate currently sits at 4.6%, from 5.0% in the previous quarter. Rental rates ended the quarter at $3.70 per square foot, from $3.72 in the previous quarter. There was a total of 24,000 square feet that delivered in the quarter, with 36,059 square feet still under construction at the end of the quarter. Little Rock/N Little Rock The Little Rock/N Little Rock industrial market saw vacancies fall and rental rates change from the second quarter 2010 to the third quarter 2010. The overall vacancy rate currently sits at 7.3%, from 7.7% in the previous quarter. Rental rates ended the quarter at $3.33 per square foot, from $3.33 in the previous quarter. There was a total of 11,000 square feet that delivered in the quarter, with 56,000 square feet still under construction at the end of the quarter. Long Island (New York) The Long Island (New York) industrial market saw vacancies rise and rental rates decrease from the second quarter 2010 to the third quarter 2010. The overall vacancy rate currently sits at 4.9%, from 4.8% in the previous quarter. Rental rates ended the quarter at $9.96 per square foot, from $10.08 in the previous quarter. There was a total of 74,750 square feet that delivered in the quarter, with 119,480 square feet still under construction at the end of the quarter. Los Angeles The Los Angeles industrial market saw vacancies rise and rental rates decrease from the second quarter 2010 to the third quarter 2010. The overall vacancy rate currently sits at 5.3%, from 5.2% in the previous quarter. Rental rates ended the quarter at $7.09 per square foot, from $7.14 in the previous quarter. There was a total of 113,097 square feet that delivered in the quarter, with 311,731 square feet still under construction at the end of the quarter. Louisville With no space currently under construction, Louisville absorbed (558,273) square feet of space and delivered 15,000 square feet of space, resulting in a vacancy rate that went from 12.5% to 12.9% over the course of the quarter. Rental rates went from $3.57 to $3.52 per square foot. Lubbock The Lubbock office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of positive 266,452 square feet caused the vacancy rate to down from 4.0%to 3.2% in the quarter. Rental rates stood at $2.56. Madison The Madison office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of positive 80,402 square feet caused the vacancy rate to down from 8.4%to 8.3% in the quarter. Rental rates stood at $4.17. Marin/Sonoma positive 172,880 square feet of net absorption, Marin/Sonoma s vacancy rate went from 11.3% to 10.8% in the quarter. Rental rates went from $10.31 to $10.36 during that time. At the end of the quarter, there was 12,000 square feet underway for future McAllen/Edinburg/Pharr The McAllen/Edinburg/Pharr office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of positive 192,341 square feet caused the vacancy rate to down from 16.6%to 15.0% in the quarter. Rental rates stood at $4.38. Memphis With no new office space being delivered to the market, and positive 579,539 square feet of net absorption, Memphis s vacancy rate went from 14.4% to 14.2% in the quarter. Rental rates went from $2.78 to $2.83 during that time. At the end of the quarter, there was 111,703 square feet underway for future Miami-Dade County With no new office space being delivered to the market, and positive 863,408 square feet of net absorption, Miami-Dade County s vacancy rate went from 9.6% to 9.3% in the quarter. Rental rates went from $7.10 to $7.02 during that time. At the end of the quarter, there was 61,500 square feet underway for future Milwaukee 8 THE COSTAR INDUSTRIAL REPORT 2010 COSTAR GROUP, INC.

National Industrial Market OVERVIEW THIRD QUARTER 2010 NATIONAL positive 65,772 square feet of net absorption, Milwaukee s vacancy rate went from 7.7% to 7.7% in the quarter. Rental rates went from $4.26 to $4.23 during that time. At the end of the quarter, there was 269,200 square feet underway for future Minneapolis The Minneapolis industrial market saw vacancies fall and rental rates decrease from the second quarter 2010 to the third quarter 2010. The overall vacancy rate currently sits at 6.8%, from 7.1% in the previous quarter. Rental rates ended the quarter at $5.82 per square foot, from $5.88 in the previous quarter. There was a total of 13,000 square feet that delivered in the quarter, with 33,466 square feet still under construction at the end of the quarter. Mobile The Mobile office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of negative (133,364) square feet caused the vacancy rate to up from 14.0%to 14.7% in the quarter. Rental rates stood at $4.32. Montgomery The Montgomery office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of positive 24,883 square feet caused the vacancy rate to down from 23.0%to 22.8% in the quarter. Rental rates stood at $2.83. Myrtle Beach/Conway The Myrtle Beach/Conway office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of negative (23,730) square feet caused the vacancy rate to up from 11.1%to 11.6% in the quarter. Rental rates stood at $4.99. Nashville The Nashville industrial market saw vacancies rise and rental rates decrease from the second quarter 2010 to the third quarter 2010. The overall vacancy rate currently sits at 11.0%, from 9.9% in the previous quarter. Rental rates ended the quarter at $3.86 per square foot, from $3.92 in the previous quarter. There was a total of 18,000 square feet that delivered in the quarter, with 6,734 square feet still under construction at the end of the quarter. New Orleans/Metairie/Kenner With no space currently under construction, New Orleans/ Metairie/Kenner absorbed (162,488) square feet of space and delivered 30,000 square feet of space, resulting in a vacancy rate that went from 10.5% to 10.9% over the course of the quarter. Rental rates went from $4.80 to $4.86 per square foot. Northern New Jersey The vacancy rate remained unchanged in Northern New Jersey in the third quarter. With 67,500 square feet in deliveries, and negative (628,953) square feet in net absorption, the vacancy rate held at 9.7%, the same rate reported in the previous quarter. The market had 347,300 square feet under construction at the end of the quarter, and rental rates stood at $5.68 per square foot. Ocala The Ocala office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of negative (44,584) square feet caused the vacancy rate to up from 11.6%to 11.9% in the quarter. Rental rates stood at $4.22. Oklahoma City The vacancy rate remained unchanged in Oklahoma City in the third quarter. With 18,000 square feet in deliveries, and positive 30,151 square feet in net absorption, the vacancy rate held at 8.3%, the same rate reported in the previous quarter. The market had 18,000 square feet under construction at the end of the quarter, and rental rates stood at $3.67 per square foot. Olympia The Olympia office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of negative (207,622) square feet caused the vacancy rate to up from 9.3%to 12.0% in the quarter. Rental rates stood at $4.94. Omaha/Council Bluffs The Omaha/Council Bluffs industrial market saw vacancies rise and rental rates decrease from the second quarter 2010 to the third quarter 2010. The overall vacancy rate currently sits at 5.6%, from 5.5% in the previous quarter. Rental rates ended the quarter at $4.95 per square foot, from $4.98 in the previous quarter. There was a total of 62,661 square feet that delivered in the quarter, with 59,217 square feet still under construction at the end of the quarter. Orange (California) The Orange (California) industrial market saw vacancies rise and rental rates decrease from the second quarter 2010 to the third quarter 2010. The overall vacancy rate currently sits at 6.8%, from 6.7% in the previous quarter. Rental rates ended the quarter at $7.88 per square foot, from $8.04 in the previous quarter. There was a total of 134,421 square feet that delivered in the quarter, with 375,000 square feet still under construction at the end of the quarter. Orlando The Orlando industrial market saw vacancies fall and rental 2010 COSTAR GROUP, INC. THE COSTAR INDUSTRIAL REPORT 9

NATIONAL THIRD QUARTER 2010 National Industrial Market OVERVIEW rates decrease from the second quarter 2010 to the third quarter 2010. The overall vacancy rate currently sits at 12.8%, from 12.9% in the previous quarter. Rental rates ended the quarter at $5.45 per square foot, from $5.52 in the previous quarter. There was a total of 3,000 square feet that delivered in the quarter, with 53,549 square feet still under construction at the end of the quarter. Palm Beach County With no new office space being delivered to the market, and positive 124,416 square feet of net absorption, Palm Beach County s vacancy rate went from 11.5% to 11.3% in the quarter. Rental rates went from $8.22 to $8.16 during that time. At the end of the quarter, there was 34,000 square feet underway for future Pensacola The Pensacola office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of negative (21,049) square feet caused the vacancy rate to up from 12.8%to 12.9% in the quarter. Rental rates stood at $4.85. Peoria The Peoria office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of positive 55,315 square feet caused the vacancy rate to down from 6.2%to 5.9% in the quarter. Rental rates stood at $3.63. Philadelphia The Philadelphia industrial market saw vacancies fall and rental rates decrease from the second quarter 2010 to the third quarter 2010. The overall vacancy rate currently sits at 10.2%, from 10.3% in the previous quarter. Rental rates ended the quarter at $4.57 per square foot, from $4.61 in the previous quarter. There was a total of 465,000 square feet that delivered in the quarter, with 1,721,362 square feet still under construction at the end of the quarter. Phoenix The Phoenix industrial market saw vacancies fall and rental rates decrease from the second quarter 2010 to the third quarter 2010. The overall vacancy rate currently sits at 16.0%, from 16.7% in the previous quarter. Rental rates ended the quarter at $6.39 per square foot, from $6.56 in the previous quarter. There was a total of 105,292 square feet that delivered in the quarter, with 380,061 square feet still under construction at the end of the quarter. Pittsburgh positive 414,740 square feet of net absorption, Pittsburgh s vacancy rate went from 8.7% to 8.5% in the quarter. Rental rates went from $4.96 to $5.10 during that time. At the end of the quarter, there was 208,525 square feet underway for future Port St Lucie/Fort Pierce The Port St Lucie/Fort Pierce office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of negative (35,482) square feet caused the vacancy rate to up from 15.0%to 15.2% in the quarter. Rental rates stood at $6.76. Portland With no space currently under construction, Portland absorbed 466,485 square feet of space and delivered 415,000 square feet of space, resulting in a vacancy rate that went from 8.9% to 8.8% over the course of the quarter. Rental rates went from $6.21 to $6.19 per square foot. Portland/South Portland The Portland/South Portland office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of negative (93,648) square feet caused the vacancy rate to down from 9.3%to 8.9% in the quarter. Rental rates stood at $4.55. Providence The Providence office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of positive 48,217 square feet caused the vacancy rate to down from 8.3%to 8.2% in the quarter. Rental rates stood at $5.06. Raleigh/Durham The Raleigh/Durham industrial market saw vacancies fall and rental rates decrease from the second quarter 2010 to the third quarter 2010. The overall vacancy rate currently sits at 13.0%, from 13.2% in the previous quarter. Rental rates ended the quarter at $5.26 per square foot, from $5.35 in the previous quarter. There was a total of 17,500 square feet that delivered in the quarter, with 120,100 square feet still under construction at the end of the quarter. Reno/Sparks The Reno/Sparks office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of positive 504,566 square feet caused the vacancy rate to down from 12.9%to 12.1% in the quarter. Rental rates stood at $5.39. Richmond VA The Richmond VA industrial market saw vacancies fall and rental rates increase from the second quarter 2010 to the third quarter 2010. The overall vacancy rate currently sits at 12.5%, from 12.6% in the previous quarter. Rental rates ended 10 THE COSTAR INDUSTRIAL REPORT 2010 COSTAR GROUP, INC.

National Industrial Market OVERVIEW THIRD QUARTER 2010 NATIONAL the quarter at $3.96 per square foot, from $3.90 in the previous quarter. There was a total of 8,738 square feet that delivered in the quarter, with 140,000 square feet still under construction at the end of the quarter. Roanoke The Roanoke office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of positive 40,536 square feet caused the vacancy rate to down from 14.7%to 14.5% in the quarter. Rental rates stood at $3.09. Rochester positive 5,218 square feet of net absorption, Rochester s vacancy rate went from 10.2% to 10.2% in the quarter. Rental rates went from $4.01 to $4.13 during that time. At the end of the quarter, there was 83,500 square feet underway for future Sacramento negative (240,865) square feet of net absorption, Sacramento s vacancy rate went from 12.9% to 13.0% in the quarter. Rental rates went from $5.47 to $5.29 during that time. At the end of the quarter, there was 309,660 square feet underway for future Salinas The Salinas office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of negative (356,308) square feet caused the vacancy rate to up from 8.0%to 10.0% in the quarter. Rental rates stood at $5.45. Salt Lake City The Salt Lake City industrial market saw vacancies fall and rental rates change from the second quarter 2010 to the third quarter 2010. The overall vacancy rate currently sits at 5.6%, from 5.9% in the previous quarter. Rental rates ended the quarter at $4.60 per square foot, from $4.60 in the previous quarter. There was a total of 11,200 square feet that delivered in the quarter, with 151,000 square feet still under construction at the end of the quarter. San Antonio positive 105,408 square feet of net absorption, San Antonio s vacancy rate went from 9.8% to 9.7% in the quarter. Rental rates went from $5.51 to $5.31 during that time. At the end of the quarter, there was 882,335 square feet underway for future San Diego With no new office space being delivered to the market, and negative (291,808) square feet of net absorption, San Diego s vacancy rate went from 11.1% to 11.2% in the quarter. Rental rates went from $10.06 to $9.86 during that time. At the end of the quarter, there was 176,000 square feet underway for future San Francisco With no space currently under construction, San Francisco absorbed 325,455 square feet of space and delivered 84,000 square feet of space, resulting in a vacancy rate that went from 7.2% to 7.0% over the course of the quarter. Rental rates went from $11.62 to $11.36 per square foot. San Luis Obispo/Paso Robles negative (9,162) square feet of net absorption, San Luis Obispo/ Paso Robles s vacancy rate went from 2.8% to 3.0% in the quarter. Rental rates went from $7.69 to $7.59 during that time. At the end of the quarter, there was 2,600 square feet underway for future Santa Barbara/Sta Maria/Goleta The Santa Barbara/Sta Maria/Goleta office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of positive 59,736 square feet caused the vacancy rate to down from 8.0%to 7.5% in the quarter. Rental rates stood at $9.57. Santa Cruz/Watsonville The Santa Cruz/Watsonville office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of positive 8,304 square feet caused the vacancy rate to down from 8.3%to 8.2% in the quarter. Rental rates stood at $10.59. Savannah The Savannah office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of positive 898,964 square feet caused the vacancy rate to down from 37.3%to 34.3% in the quarter. Rental rates stood at $5.57. Seattle/Puget Sound The Seattle/Puget Sound industrial market saw vacancies rise and rental rates decrease from the second quarter 2010 to the third quarter 2010. The overall vacancy rate currently sits at 8.2%, from 8.1% in the previous quarter. Rental rates ended the quarter at $7.07 per square foot, from $7.14 in the previous quarter. There was a total of 325,600 square feet that delivered in the quarter, with 192,028 square feet still under construction at the end of the quarter. Shreveport/Bossier City The Shreveport/Bossier City office market reported no new deliveries and no space under construction at the end of the third 2010 COSTAR GROUP, INC. THE COSTAR INDUSTRIAL REPORT 11

NATIONAL THIRD QUARTER 2010 National Industrial Market OVERVIEW quarter 2010. With this limited construction activity, net absorption of negative (327,185) square feet caused the vacancy rate to up from 20.5%to 22.2% in the quarter. Rental rates stood at $3.03. South Bay/San Jose negative (16,507) square feet of net absorption, South Bay/San Jose s vacancy rate went from 11.6% to 11.6% in the quarter. Rental rates went from $11.31 to $11.10 during that time. At the end of the quarter, there was 341,950 square feet underway for future South Bend/Mishawaka The South Bend/Mishawaka office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of negative (74,159) square feet caused the vacancy rate to up from 6.7%to 7.0% in the quarter. Rental rates stood at $2.91. Southwest Florida The Southwest Florida industrial market saw vacancies rise and rental rates decrease from the second quarter 2010 to the third quarter 2010. The overall vacancy rate currently sits at 14.7%, from 14.1% in the previous quarter. Rental rates ended the quarter at $5.89 per square foot, from $6.02 in the previous quarter. There was a total of 14,784 square feet that delivered in the quarter, with 5,000 square feet still under construction at the end of the quarter. Spokane positive 152,023 square feet of net absorption, Spokane s vacancy rate went from 5.7% to 5.3% in the quarter. Rental rates went from $5.33 to $5.25 during that time. At the end of the quarter, there was 18,000 square feet underway for future Springfield negative (211,227) square feet of net absorption, Springfield s vacancy rate went from 10.0% to 11.3% in the quarter. Rental rates went from $4.21 to $4.22 during that time. At the end of the quarter, there was 24,000 square feet underway for future St. Louis positive 989,950 square feet of net absorption, St. Louis s vacancy rate went from 8.8% to 8.4% in the quarter. Rental rates went from $4.12 to $4.19 during that time. At the end of the quarter, there was 74,365 square feet underway for future Stockton/Modesto The Stockton/Modesto office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of negative (106,101) square feet caused the vacancy rate to up from 16.7%to 16.8% in the quarter. Rental rates stood at $3.93. Syracuse With no space currently under construction, Syracuse absorbed (192,324) square feet of space and delivered 18,921 square feet of space, resulting in a vacancy rate that went from 11.1% to 11.5% over the course of the quarter. Rental rates went from $6.42 to $3.90 per square foot. Tallahassee The Tallahassee office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of negative (39,181) square feet caused the vacancy rate to up from 10.1%to 10.3% in the quarter. Rental rates stood at $4.37. Tampa/St Petersburg With no space currently under construction, Tampa/St Petersburg absorbed 896,568 square feet of space and delivered 27,520 square feet of space, resulting in a vacancy rate that went from 11.4% to 11.1% over the course of the quarter. Rental rates went from $5.37 to $5.24 per square foot. Toledo The Toledo office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of negative (122,984) square feet caused the vacancy rate to up from 9.2%to 9.3% in the quarter. Rental rates stood at $2.92. Tucson positive 140,916 square feet of net absorption, Tucson s vacancy rate went from 11.2% to 10.9% in the quarter. Rental rates went from $6.70 to $6.68 during that time. At the end of the quarter, there was 14,400 square feet underway for future Tulsa The Tulsa industrial market saw vacancies fall and rental rates decrease from the second quarter 2010 to the third quarter 2010. The overall vacancy rate currently sits at 7.1%, from 7.3% in the previous quarter. Rental rates ended the quarter at $3.89 per square foot, from $3.90 in the previous quarter. There was a total of 69,500 square feet that delivered in the quarter, with 2,637 square feet still under construction at the end of the quarter. Utica/Rome The Utica/Rome office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of negative (188,803) square feet caused the vacancy rate to up from 9.6%to 10.4% in the quarter. Rental rates stood at $2.93. 12 THE COSTAR INDUSTRIAL REPORT 2010 COSTAR GROUP, INC.

National Industrial Market THIRD QUARTER 2010 NATIONAL Visalia/Porterville positive 57,563 square feet of net absorption, Visalia/Porterville s vacancy rate went from 7.9% to 7.7% in the quarter. Rental rates went from $3.74 to $3.79 during that time. At the end of the quarter, there was 4,856 square feet underway for future Washington The Washington industrial market saw vacancies fall and rental rates decrease from the second quarter 2010 to the third quarter 2010. The overall vacancy rate currently sits at 12.7%, from 12.9% in the previous quarter. Rental rates ended the quarter at $9.08 per square foot, from $9.11 in the previous quarter. There was a total of 329,300 square feet that delivered in the quarter, with 952,106 square feet still under construction at the end of the quarter. West Michigan negative (269,404) square feet of net absorption, West Michigan s vacancy rate went from 8.6% to 8.7% in the quarter. Rental rates went from $3.20 to $3.25 during that time. At the end of the quarter, there was 583,000 square feet underway for future Wichita positive 11,401 square feet of net absorption, Wichita s vacancy rate went from 8.5% to 8.5% in the quarter. Rental rates went from $4.43 to $4.41 during that time. At the end of the quarter, there was 71,250 square feet underway for future Wilmington negative (525,299) square feet of net absorption, Wilmington s vacancy rate went from 14.4% to 17.5% in the quarter. Rental rates went from $4.23 to $4.06 during that time. At the end of the quarter, there was 11,363 square feet underway for future Yakima The Yakima office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of positive 6,200 square feet caused the vacancy rate to unchanged from 8.3%to 8.3% in the quarter. Rental rates stood at $4.72. Youngstown/Warren/Boardman The Youngstown/Warren/Boardman office market reported no new deliveries and no space under construction at the end of the third quarter 2010. With this limited construction activity, net absorption of negative (40,878) square feet caused the vacancy rate to up from 11.0%to 11.1% in the quarter. Rental rates stood at $2.73. 2010 COSTAR GROUP, INC. THE COSTAR INDUSTRIAL REPORT 13

NATIONAL THIRD QUARTER 2010 National Industrial Market EMPLOYMENT ANALYSIS Total Employment by Industry Percent of Total Employment by Industry Total Employment Growth Total Number of Jobs Added Per Year 17% 4% 10% 4% 1% 15% 9% 19% 2% 6% 13% Natural Resources & Mining Construction Manufacturing Trade, Transportation & Utilities Information Financial Activities Professional & Business Services Education & Health Services Leisure & Hospitality Other Services Government Percent Growth 3.0% 2.0% 1.0% 0.0% -1.0% -2.0% -3.0% -4.0% -5.0% -6.0% 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Source: Department of Labor, Bureau of Labor Statistics Total Employment Growth Cumulative Growth in Jobs Over the Past 5 Years Market Employment Growth Inventory Growth Difference Atlanta -5.90% 3.70% -9.60% Chicago -5.00% 4.00% -9.00% Dallas/Ft Worth 1.70% 7.00% -5.30% Denver -2.80% 3.40% -6.20% Detroit -11.50% 0.80% -12.30% Houston 4.50% 6.60% -2.10% Inland Empire (California) -8.20% 14.00% -22.20% Los Angeles -6.40% 1.20% -7.60% Northern New Jersey -4.00% 2.30% -6.30% Pittsburgh -1.80% 1.90% -3.70% Source: Department of Labor, Bureau of Labor Statistics Historical Unemployment Rates Source: Department of Labor, Bureau of Labor Statistics Industrial* Employment Growth Number of Industrial* Jobs Added Per Year Percent Growth 2.0% 1.0% 0.0% -1.0% -2.0% -3.0% -4.0% -5.0% -6.0% -7.0% -8.0% -9.0% 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Source: Department of Labor, Bureau of Labor Statistics. * Industrial employment is defined as jobs in the Manufacturing, and Trade, Transportation & Utilities industries 12.0% 10.0% Percent Unemployment 8.0% 6.0% 4.0% 2.0% 0.0% 2000 2000 2001 2001 2002 2002 2003 2003 2004 2004 2005 2005 2006 2006 2007 2007 2008 2008 2009 2009 2010 Source: Department of Labor, Bureau of Labor Statistics 14 THE COSTAR INDUSTRIAL REPORT 2010 COSTAR GROUP, INC.

National Industrial Market INVENTORY & DEVELOPMENT THIRD QUARTER 2010 NATIONAL Historical Deliveries 1983-2011 Millions SF 450.0 400.0 350.0 300.0 250.0 200.0 150.0 100.0 50.0 0.0 215.1 Deliveries 397.0 369.9 349.6 356.6 344.7 319.0 300.4 184.8 130.5129.5 170.7 248.5 284.1 327.8 366.4406.6 399.5 365.1 248.4 Average Delivered SF 185.6 218.7 293.2 266.1266.8 253.1 115.5 31.7 10.0 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Source: CoStar Property * Future deliveries based on current under construction buildings. Construction Activity Markets Ranked by Under Construction Square Footage Under Construction Inventory Average Bldg Size Market # Bldgs Total RBA Preleased SF Preleased % All Existing U/C Inland Empire (California) 7 3,108,657 3,099,057 99.7% 40,198 444,094 Philadelphia 9 1,721,362 1,616,334 93.9% 55,095 191,262 Dayton 2 1,557,239 1,557,239 100.0% 31,675 778,619 Albany/Schenectady/Troy 2 1,499,695 1,499,695 100.0% 40,141 749,847 Washington 10 952,106 389,232 40.9% 36,786 95,211 San Antonio 4 882,335 882,335 100.0% 26,437 220,584 East Bay/Oakland 3 764,200 760,612 99.5% 33,852 254,733 Hartford 1 657,000 657,000 100.0% 35,001 657,000 Dallas/Ft Worth 4 628,686 46,941 7.5% 40,906 157,171 West Michigan 2 583,000 580,000 99.5% 37,603 291,500 Detroit 3 546,633 272,433 49.8% 34,682 182,211 Chicago 4 410,000 312,800 76.3% 54,180 102,500 Phoenix 3 380,061 335,650 88.3% 30,088 126,687 Greensboro/Winston-Salem 1 380,000 368,600 97.0% 41,675 380,000 Orange (California) 1 375,000 375,000 100.0% 24,884 375,000 Northern New Jersey 5 347,300 0 0.0% 50,494 69,460 South Bay/San Jose 2 341,950 341,950 100.0% 34,320 170,975 Los Angeles 7 311,731 206,644 66.3% 28,799 44,533 Sacramento 3 309,660 0 0.0% 30,552 103,220 Cincinnati 6 307,278 244,278 79.5% 47,102 51,213 Milwaukee 5 269,200 214,000 79.5% 40,925 53,840 Baltimore 4 250,360 18,616 7.4% 52,463 62,590 Jacksonville (Florida) 1 235,000 235,000 100.0% 33,639 235,000 Houston 4 218,518 0 0.0% 34,638 54,629 Pittsburgh 6 208,525 25,000 12.0% 37,757 34,754 Las Vegas 2 201,428 146,532 72.7% 28,161 100,714 Seattle/Puget Sound 6 192,028 67,300 35.0% 38,651 32,005 San Diego 1 176,000 176,000 100.0% 22,167 176,000 Boston 3 173,847 2,831 1.6% 46,216 57,949 Hampton Roads 11 155,223 31,203 20.1% 32,619 14,111 Denver 5 153,063 133,113 87.0% 30,261 30,613 Salt Lake City 5 151,000 110,000 72.8% 28,363 30,200 Bremerton/Silverdale 1 144,000 72,000 50.0% 10,739 144,000 Richmond VA 1 140,000 140,000 100.0% 38,203 140,000 Indianapolis 1 126,184 126,184 100.0% 49,751 126,184 Raleigh/Durham 3 120,100 16,482 13.7% 33,161 40,033 Long Island (New York) 6 119,480 6,090 5.1% 26,971 19,913 Memphis 3 111,703 104,203 93.3% 71,492 37,234 Baton Rouge 1 100,000 100,000 100.0% 21,541 100,000 Charlotte 7 93,133 14,192 15.2% 41,916 13,305 Boise City/Nampa 2 87,043 4,043 4.6% 21,882 43,521 Rochester 2 83,500 0 0.0% 51,920 41,750 Greenville/Spartanburg 1 77,089 77,089 100.0% 43,440 77,089 Totals 225 20,724,860 15,871,358 76.6% 35,639 92,110 Source: CoStar Property 2010 COSTAR GROUP, INC. THE COSTAR INDUSTRIAL REPORT 15

NATIONAL THIRD QUARTER 2010 National Industrial Market INVENTORY & DEVELOPMENT Historical Construction Starts & Deliveries* Square Footage Per Quarter Starting and Completing Construction 80.0 Construction Starts 71.8 Deliveries Millions SF 70.0 60.0 50.0 40.0 30.0 65.2 59.1 55.7 56.1 51.0 47.2 47.4 38.8 63.9 62.2 60.1 60.4 59.1 59.7 57.7 51.4 50.0 42.8 42.5 39.0 30.3 56.2 37.3 25.4 22.6 20.0 10.0 0.0 13.7 15.3 14.0 8.1 8.18.3 5.6 5.7 5.7 3.9 3.7 1.5 2006 2006 2q 2006 2006 4q 2007 2007 2q 2007 2007 4q 2008 2008 2q 2008 2008 4q 2009 2009 2q 2009 2009 4q 2010 2010 2q 2010 Source: CoStar Property * Excludes markets - see Methodology page. Recent Deliveries by Project Size Breakdown of Year-to-Date Development Based on RBA of Project Building Size # Bldgs RBA SF Leased % Leased Avg Rate Single Tenant Multi-Tenant < 50,000 SF 265 3,910,394 1,985,622 50.8% $7.97 940,869 2,969,525 50,000 SF - 99,999 SF 39 2,594,531 1,649,303 63.6% $5.63 1,239,758 1,354,773 100,000 SF - 249,999 SF 26 3,522,735 2,549,614 72.4% $5.22 1,794,055 1,728,680 250,000 SF - 499,999 SF 9 3,357,417 3,357,417 100.0% $0.00 2,642,417 715,000 >= 500,000 SF 14 9,814,714 8,552,423 87.1% $4.56 6,015,297 3,799,417 Source: CoStar Property Recent Deliveries Leased & Un-Leased SF in Deliveries Last 5 Years Future Deliveries Preleased & Un-Leased SF in Properties Scheduled to Deliver 350.0 Leased Un-Leased 9.0 Preleased Un-Leased 300.0 250.0 8.0 7.0 6.0 Millions SF 200.0 150.0 100.0 Millions SF 5.0 4.0 3.0 2.0 50.0 1.0 0.0 2006 2007 2008 2009 2010 0.0 2010 4q 2011 2011 2q 2011 16 THE COSTAR INDUSTRIAL REPORT 2010 COSTAR GROUP, INC.

National Industrial Market INVENTORY & DEVELOPMENT THIRD QUARTER 2010 NATIONAL Growth in Inventory Last 5 Years - Select Regions Based on Percentage Growth in Inventory From Third Quarter 2005 Through Third Quarter 2010 Including Current Under Construction Square Footage 3rd Qtr 2010 3rd Qtr 2005 Increase in Inventory Rank Region # Bldgs Existing RBA U/C RBA Total RBA # Bldgs Total RBA # Bldgs Total RBA % 1 Savannah 453 29,247,398 0 29,247,398 409 20,397,305 44 8,850,093 43% 2 Bremerton/Silverdale 171 1,836,354 144,000 1,980,354 159 1,669,572 12 310,782 19% 3 Inland Empire (California) 12,195 490,208,596 3,108,657 493,317,253 11,301 430,124,301 894 63,192,952 15% 4 Las Vegas 3,908 110,053,019 201,428 110,254,447 3,450 98,058,993 458 12,195,454 12% 5 Stockton/Modesto 2,160 103,842,761 0 103,842,761 1,985 93,134,561 175 10,708,200 11% 6 Phoenix 9,615 289,299,752 380,061 289,679,813 9,127 261,528,638 488 28,151,175 11% 7 McAllen/Edinburg/Pharr 274 11,677,024 0 11,677,024 254 10,601,458 20 1,075,566 10% 8 Olympia 261 7,803,968 0 7,803,968 245 7,110,816 16 693,152 10% 9 Port St Lucie/Fort Pierce 1,209 19,649,112 0 19,649,112 1,148 17,905,990 61 1,743,122 10% 10 Huntsville 281 11,060,304 0 11,060,304 263 10,102,652 18 957,652 9% 11 Austin 2,954 84,491,530 19,285 84,510,815 2,831 77,876,954 123 6,633,861 9% 12 Visalia/Porterville 859 24,259,020 4,856 24,263,876 814 22,433,486 45 1,830,390 8% 13 Bakersfield 1,101 25,798,498 46,170 25,844,668 1,029 23,902,278 72 1,942,390 8% 14 Southwest Florida 3,460 45,997,169 5,000 46,002,169 3,294 42,566,716 166 3,435,453 8% 15 Killeen/Temple/Fort Hood 128 3,305,400 0 3,305,400 124 3,065,954 4 239,446 8% 2010 COSTAR GROUP, INC. THE COSTAR INDUSTRIAL REPORT 17

NATIONAL THIRD QUARTER 2010 National Industrial Market INVENTORY & DEVELOPMENT 18 THE COSTAR INDUSTRIAL REPORT 2010 COSTAR GROUP, INC.

National Industrial Market INVENTORY & DEVELOPMENT THIRD QUARTER 2010 NATIONAL 2010 COSTAR GROUP, INC. THE COSTAR INDUSTRIAL REPORT 19

NATIONAL THIRD QUARTER 2010 National Industrial Market FIGURES AT A GLANCE Flex Market Statistics Third Quarter 2010 Existing Inventory Vacancy YTD Net YTD Under Quoted Market # Blds Total RBA Direct SF Total SF Vac % Absorption Deliveries Const SF Rates Albany/Schenect 318 10,210,863 528,820 601,636 5.9% (100,163) 0 0 $10.87 Albuquerque 134 3,472,778 719,831 738,506 21.3% (50,433) 0 0 $12.13 Anchorage 135 2,570,575 79,518 81,118 3.2% (37,918) 0 0 $15.92 Asheville 213 3,341,192 285,375 299,875 9.0% (57,630) 0 0 $6.12 Atlanta 3,405 61,637,379 9,165,564 9,486,330 15.4% (293,081) 0 0 $8.14 Augusta/Richmo 289 2,253,876 279,931 279,931 12.4% (1,258) 0 0 $6.38 Austin 479 20,485,557 4,047,953 4,047,953 19.8% (149,922) 11,250 15,000 $9.02 Bakersfield 205 2,444,749 224,065 224,065 9.2% (17,794) 0 0 $8.48 Baltimore 1,259 46,945,529 5,437,865 5,605,624 11.9% (309,365) 154,654 150,360 $9.95 Baton Rouge 119 1,985,118 522,162 522,162 26.3% (46,249) 0 0 $7.96 Beaumont/Port A 164 1,524,451 13,844 13,844 0.9% 11,715 0 0 $6.01 Birmingham 652 10,690,901 686,669 696,569 6.5% 111,203 9,100 0 $7.15 Boise City/Namp 231 3,842,896 396,274 396,274 10.3% (26,082) 0 0 $8.91 Boston 2,585 130,255,554 17,861,522 18,752,031 14.4% (331,814) 0 145,000 $8.93 Bremerton/Silver 53 484,263 6,781 6,781 1.4% (2,097) 0 0 $13.75 Broward County 1,122 19,730,803 2,114,508 2,262,285 11.5% 278,639 0 0 $11.22 Brownsville/Harl 6 150,656 17,100 17,100 11.4% 0 0 0 $0.00 Buffalo/Niagara 133 5,949,450 1,098,395 1,098,395 18.5% (28,987) 0 0 $9.16 Charleston WV 56 498,831 93,120 93,120 18.7% 9,225 0 0 $7.28 Charleston/N Ch 328 4,462,083 449,670 455,670 10.2% (3,090) 6,000 0 $10.48 Charlotte 1,085 28,764,267 4,135,776 4,241,698 14.7% (215,888) 0 15,000 $8.51 Chattanooga 205 3,963,716 193,621 193,621 4.9% (25,316) 0 0 $6.53 Chicago 2,121 70,737,576 8,939,539 9,296,255 13.1% 103,045 27,000 0 $9.95 Cincinnati 261 6,775,191 804,506 816,518 12.1% (37,757) 0 0 $7.96 Cleveland 666 21,721,271 3,247,798 3,286,025 15.1% 310,918 0 14,000 $8.23 Colorado Springs 234 5,721,063 846,934 884,448 15.5% 21,398 0 0 $7.27 Columbia 581 5,874,743 480,017 480,017 8.2% 15,490 0 0 $8.75 Columbus 313 9,872,521 1,431,378 1,482,633 15.0% 90,803 9,000 0 $8.14 Columbus GA 223 3,682,749 182,822 182,822 5.0% (20,642) 0 0 $4.93 Corpus Christi 45 785,446 60,756 73,756 9.4% 10,099 24,044 0 $7.92 Dallas/Ft Worth 6,893 142,043,718 16,436,137 17,046,825 12.0% (836,838) 106,148 29,738 $7.29 Davenport/Molin 24 420,525 17,690 17,690 4.2% 0 0 0 $7.33 Dayton 185 2,920,086 678,158 678,158 23.2% 52,196 72,000 0 $9.12 Deltona/Dayton 104 1,510,334 299,261 299,261 19.8% 13,334 0 0 $8.48 Denver 1,621 44,796,269 6,459,700 6,634,833 14.8% 337,753 45,382 52,282 $9.20 Des Moines 206 7,985,507 520,372 522,122 6.5% (15,223) 0 0 $6.11 Detroit 1,259 44,310,676 8,804,664 9,094,441 20.5% 107,716 21,000 0 $8.62 Duluth 20 293,032 24,604 24,604 8.4% 2,398 0 0 $12.97 East Bay/Oaklan 1,603 57,485,268 10,062,200 10,406,507 18.1% 325,155 41,280 155,200 $11.39 El Paso 341 5,875,355 290,777 290,777 4.9% 53,726 0 0 $8.43 Erie 4 127,991 0 0 0.0% 0 0 0 $7.70 Evansville 65 3,487,044 144,433 144,433 4.1% (8,396) 0 0 $6.10 Fayetteville 91 907,296 111,990 111,990 12.3% 10,669 0 20,310 $10.68 Fayetteville/Sprin 163 2,016,039 164,744 164,744 8.2% 8,200 0 0 $8.34 Fort Smith 10 531,957 16,886 16,886 3.2% 0 0 0 $4.00 Fort Wayne 137 3,495,269 115,762 115,762 3.3% (9,481) 0 0 $7.31 Fresno 104 1,840,368 262,339 262,339 14.3% 37,879 0 0 $8.75 Source: CoStar Property 20 THE COSTAR INDUSTRIAL REPORT 2010 COSTAR GROUP, INC.

National Industrial Market FIGURES AT A GLANCE THIRD QUARTER 2010 NATIONAL Flex Market Statistics Third Quarter 2010 Existing Inventory Vacancy YTD Net YTD Under Quoted Market # Blds Total RBA Direct SF Total SF Vac % Absorption Deliveries Const SF Rates Green Bay 279 8,605,253 231,128 231,128 2.7% 18,159 0 0 $7.07 Greensboro/Win 383 6,497,128 1,269,361 1,270,660 19.6% (32,070) 0 0 $6.90 Greenville/Sparta 584 8,953,003 1,810,622 1,819,122 20.3% (97,362) 0 0 $6.99 Hampton Roads 737 13,562,812 1,882,828 1,977,208 14.6% (130,228) 21,143 68,700 $9.31 Hartford 1,133 25,738,299 2,534,771 2,698,969 10.5% 119,249 115,000 0 $7.34 Hawaii 76 1,651,722 188,402 199,124 12.1% 52,587 0 0 $15.97 Houston 1,675 44,608,384 5,039,111 5,140,690 11.5% 604,039 240,560 0 $8.40 Huntington/Ash 120 1,224,700 13,300 13,300 1.1% (13,300) 0 0 $0.00 Huntsville 53 2,152,588 223,771 223,771 10.4% (81,016) 0 0 $6.76 Indianapolis 859 23,523,491 2,400,659 2,422,925 10.3% 124,026 25,920 0 $9.04 Inland Empire (C 917 18,070,422 2,883,804 3,055,574 16.9% 87,111 0 0 $10.02 Jackson 108 1,564,191 239,784 239,784 15.3% (10,242) 0 0 $8.12 Jacksonville (Flor 317 7,450,789 950,753 990,737 13.3% 149,859 16,000 0 $9.13 Kansas City 485 11,693,002 1,545,597 1,560,980 13.3% (82,108) 0 0 $8.11 Killeen/Temple/F 12 189,510 5,600 5,600 3.0% (5,600) 0 0 $8.08 Kingsport/Bristol 26 512,586 37,791 37,791 7.4% 44,819 0 0 $6.86 Knoxville 803 9,680,575 566,908 566,908 5.9% (29,056) 0 0 $7.13 Lafayette 6 353,281 3,806 3,806 1.1% 2,694 0 0 $6.76 Las Vegas 987 18,801,597 3,892,120 3,921,759 20.9% (200,244) 0 0 $10.36 Lexington/Fayet 135 2,689,642 209,256 217,390 8.1% (47,643) 0 0 $7.23 Lincoln 193 2,041,286 94,184 94,184 4.6% 7,467 0 0 $6.27 Little Rock/N Litt 581 9,128,568 346,022 353,022 3.9% (60,615) 0 0 $7.19 Long Island (New 566 23,703,481 1,833,719 1,931,162 8.1% 18,948 0 85,000 $14.87 Los Angeles 2,976 71,401,634 4,958,490 5,309,301 7.4% (715,514) 29,168 0 $14.53 Louisville 452 9,705,146 1,179,127 1,208,470 12.5% (107,229) 21,149 0 $7.34 Lubbock 14 986,605 14,484 14,484 1.5% 7,600 0 0 $5.67 Madison 215 6,742,345 663,909 671,009 10.0% (98,878) 0 0 $8.54 Marin/Sonoma 447 8,838,945 1,485,635 1,495,956 16.9% 164,019 0 0 $14.17 McAllen/Edinbur 9 352,178 81,396 81,396 23.1% 105,450 0 0 $11.23 Memphis 411 8,653,125 1,785,667 1,824,388 21.1% 56,523 0 0 $7.19 Miami-Dade Cou 657 19,968,907 1,736,912 1,751,312 8.8% 240,988 0 61,500 $11.61 Milwaukee 1,256 42,922,410 1,926,953 1,929,636 4.5% (119,417) 0 5,200 $7.18 Minneapolis 1,955 74,545,374 7,053,536 7,140,933 9.6% 709,018 0 8,242 $7.99 Mobile 205 2,337,502 250,369 252,833 10.8% 10,825 0 0 $5.28 Montgomery 129 1,941,092 187,307 199,807 10.3% (80,870) 0 0 $6.23 Myrtle Beach/Co 186 1,994,822 161,853 161,853 8.1% 54,842 5,000 0 $7.64 Nashville 408 13,594,920 1,814,579 1,955,885 14.4% (94,500) 0 0 $8.66 New Orleans/M 119 1,830,253 403,246 403,246 22.0% (63,052) 16,456 0 $9.11 Northern New Je 1,276 48,383,399 5,715,504 6,207,168 12.8% 397,309 0 176,200 $11.37 Ocala 46 539,436 139,380 139,380 25.8% (59,380) 0 0 $10.67 Oklahoma City 276 6,781,447 1,326,961 1,326,961 19.6% 130,966 18,000 0 $6.81 Olympia 21 320,839 8,577 8,577 2.7% 11,000 0 0 $13.41 Omaha/Council 305 6,976,876 592,781 592,781 8.5% 96,257 0 0 $6.39 Orange (Californ 3,160 71,163,142 5,925,351 6,218,169 8.7% (173,718) 0 0 $11.60 Orlando 1,495 30,174,458 4,727,361 4,844,290 16.1% 394,128 0 0 $8.93 Palm Beach Cou 615 12,779,400 1,617,428 1,690,103 13.2% 181,174 0 24,000 $10.56 Pensacola 133 1,322,930 275,134 275,134 20.8% (83,359) 8,430 0 $7.76 Source: CoStar Property 2010 COSTAR GROUP, INC. THE COSTAR INDUSTRIAL REPORT 21

NATIONAL THIRD QUARTER 2010 National Industrial Market FIGURES AT A GLANCE Flex Market Statistics Third Quarter 2010 Existing Inventory Vacancy YTD Net YTD Under Quoted Market # Blds Total RBA Direct SF Total SF Vac % Absorption Deliveries Const SF Rates Peoria 83 1,115,241 37,080 37,080 3.3% (1,906) 0 0 $8.25 Philadelphia 3,309 90,102,029 11,548,913 12,428,859 13.8% (437,652) 90,520 75,800 $9.02 Phoenix 1,054 32,478,170 6,754,053 6,955,933 21.4% 156,629 0 70,000 $11.61 Pittsburgh 681 21,162,860 2,301,573 2,301,573 10.9% 220,395 95,000 132,200 $10.86 Port St Lucie/For 157 2,930,648 467,871 473,771 16.2% 56,075 0 0 $9.67 Portland 754 19,129,524 2,481,189 2,569,028 13.4% (259,373) 70,020 0 $10.50 Portland/South P 136 2,972,833 317,755 334,895 11.3% 27,932 0 0 $7.79 Providence 142 3,673,049 403,213 403,213 11.0% 192,102 0 0 $7.85 Raleigh/Durham 1,263 27,482,404 3,844,294 3,996,678 14.5% 101,823 64,800 20,100 $8.85 Reno/Sparks 326 7,865,447 913,799 935,593 11.9% (599) 0 0 $9.00 Richmond VA 461 11,087,156 1,744,249 1,791,382 16.2% (248,414) 8,738 0 $8.25 Roanoke 124 1,496,347 134,184 134,184 9.0% 43,334 0 0 $8.03 Rochester 161 12,143,646 826,533 847,533 7.0% 54,015 13,200 51,000 $8.26 Sacramento 1,060 21,995,053 4,422,386 4,636,055 21.1% (101,802) 0 0 $10.05 Salinas 25 576,040 44,580 45,480 7.9% (13,190) 0 0 $15.29 Salt Lake City 1,172 22,664,498 1,881,485 1,929,255 8.5% 29,417 23,248 0 $7.44 San Antonio 664 12,622,836 1,448,501 1,472,553 11.7% 107,430 0 0 $8.90 San Diego 1,779 43,524,902 6,799,243 7,331,021 16.8% (655,050) 0 0 $13.36 San Francisco 800 23,065,367 2,311,287 2,545,623 11.0% (182,340) 84,000 0 $17.31 San Luis Obispo/ 23 377,724 28,437 32,937 8.7% (13,312) 0 0 $9.05 Santa Barbara/St 148 3,505,327 103,232 215,805 6.2% (18,263) 2,751 0 $12.87 Santa Cruz/Wats 76 1,934,224 206,721 211,091 10.9% (22,433) 18,450 0 $13.27 Savannah 47 814,608 53,205 53,205 6.5% 31,280 0 0 $12.34 Seattle/Puget So 1,000 31,671,608 3,345,827 3,741,264 11.8% 31,186 72,405 0 $15.33 Shreveport/Boss 243 2,302,201 116,910 116,910 5.1% (18,157) 0 0 $9.35 South Bay/San Jo 2,711 119,750,458 16,622,866 18,286,585 15.3% (602,865) 0 341,950 $12.78 South Bend/Mish 65 2,736,996 247,708 247,708 9.1% (30,336) 0 0 $7.08 Southwest Florid 351 5,434,503 1,256,037 1,261,437 23.2% (2,635) 14,784 0 $7.57 Spokane 254 3,896,152 210,770 210,770 5.4% 33,240 0 0 $6.95 Springfield 44 732,965 109,421 109,421 14.9% 10,177 0 0 $7.32 St. Louis 456 15,270,614 1,826,458 1,837,963 12.0% 70,462 40,000 0 $9.91 Stockton/Modes 106 3,238,896 310,851 314,851 9.7% (59,907) 0 0 $10.03 Syracuse 565 7,640,480 547,993 547,993 7.2% 43,751 42,921 0 $7.87 Tallahassee 100 1,912,714 120,442 120,442 6.3% (23,209) 0 0 $8.14 Tampa/St Peters 1,432 29,196,020 4,380,722 4,690,826 16.1% 29,114 5,875 0 $8.46 Toledo 388 6,790,551 668,874 672,999 9.9% (44,286) 0 0 $5.97 Tucson 476 9,345,856 1,313,053 1,386,548 14.8% (257,769) 0 0 $8.49 Tulsa 443 7,918,891 610,422 610,422 7.7% (15,717) 13,600 0 $6.54 Utica/Rome 170 2,424,998 151,149 151,149 6.2% (36,622) 8,327 0 $9.04 Visalia/Porterville 60 247,453 13,960 13,960 5.6% 3,800 17,760 0 $5.98 Washington 1,621 67,298,189 9,729,861 10,432,187 15.5% 476,163 138,600 744,730 $12.00 West Michigan 296 10,862,957 1,245,787 1,275,787 11.7% (26,372) 0 0 $7.85 Westchester/So 688 25,019,561 3,859,248 3,884,952 15.5% (770,841) 75,000 0 $11.30 Wichita 36 1,077,515 107,998 107,998 10.0% 1,777 0 71,250 $8.41 Wilmington 434 5,396,045 455,919 455,919 8.4% 21,217 70,365 0 $7.99 Yakima 62 413,477 4,731 4,731 1.1% 0 0 0 $11.00 Youngstown/Wa 39 1,076,105 69,900 69,900 6.5% (21,400) 0 0 $5.58 Totals 84,736 2,223,911,414 277,397,758 289,362,569 13.0% (1,433,338) 2,014,048 2,532,762 $10.06 Source: CoStar Property 22 THE COSTAR INDUSTRIAL REPORT 2010 COSTAR GROUP, INC.

National Industrial Market FIGURES AT A GLANCE THIRD QUARTER 2010 NATIONAL Warehouse Market Statistics Third Quarter 2010 Existing Inventory Vacancy YTD Net YTD Under Quoted Market # Blds Total RBA Direct SF Total SF Vac % Absorption Deliveries Const SF Rates Albany/Schenect 1,820 75,611,231 5,703,414 5,703,414 7.5% 842,520 580,000 1,499,695 $4.88 Albuquerque 2,141 45,127,459 3,413,144 3,666,015 8.1% (995,218) 0 0 $6.36 Anchorage 623 13,189,601 396,325 446,075 3.4% (56,245) 0 16,000 $11.45 Asheville 344 15,111,580 2,200,425 2,316,210 15.3% (608,321) 53,500 0 $3.69 Atlanta 10,229 557,710,366 78,357,926 80,541,276 14.4% (5,799,504) 1,198,750 9,763 $3.56 Augusta/Richmo 486 21,529,992 4,815,102 4,823,156 22.4% 264,777 18,000 0 $2.48 Austin 2,475 64,005,973 7,323,099 7,498,414 11.7% (2,183) 21,250 4,285 $5.93 Bakersfield 896 23,353,749 2,512,664 2,534,437 10.9% (322,078) 5,000 46,170 $4.78 Baltimore 2,996 176,285,349 18,317,720 19,006,276 10.8% 1,707,167 35,280 100,000 $4.67 Baton Rouge 615 13,825,843 2,530,919 2,574,819 18.6% 93,635 0 100,000 $4.76 Beaumont/Port A 329 6,902,609 364,225 364,225 5.3% 37,462 0 0 $4.43 Birmingham 2,559 108,480,963 10,132,857 10,264,268 9.5% 49,661 18,000 0 $3.19 Boise City/Namp 1,590 36,004,361 2,292,419 2,324,574 6.5% 639,429 66,600 87,043 $5.20 Boston 7,865 352,701,188 36,652,429 38,655,986 11.0% (640,199) 163,169 28,847 $5.31 Bremerton/Silver 118 1,352,091 161,894 161,894 12.0% (6,097) 0 144,000 $6.65 Broward County 5,477 118,335,011 10,276,147 10,879,853 9.2% 579,159 75,121 17,565 $7.37 Brownsville/Harl 212 8,503,173 942,178 942,178 11.1% (29,204) 0 0 $3.51 Buffalo/Niagara 1,129 49,956,978 3,511,145 3,605,445 7.2% (193,845) 17,522 0 $3.94 Charleston WV 370 12,587,098 469,835 474,476 3.8% (39,120) 0 0 $5.12 Charleston/N Ch 798 25,267,289 2,901,126 3,234,528 12.8% 79,516 0 0 $4.29 Charlotte 5,604 251,611,576 33,107,505 34,566,669 13.7% (2,439,467) 146,281 78,133 $3.39 Chattanooga 522 28,972,008 6,823,773 7,104,993 24.5% (541,622) 59,311 0 $2.95 Chicago 18,918 1,069,150,764 123,215,859 129,116,605 12.1% 1,894,831 1,720,003 410,000 $4.63 Cincinnati 6,068 291,334,985 25,281,312 26,256,052 9.0% 2,010,424 40,000 307,278 $3.29 Cleveland 9,166 392,800,851 36,325,761 37,147,740 9.5% (3,301,440) 25,919 13,231 $3.45 Colorado Springs 1,486 27,169,573 3,423,851 3,550,264 13.1% 95,901 11,628 0 $5.84 Columbia 978 37,304,048 3,845,753 4,198,083 11.3% 192,080 0 0 $3.65 Columbus 4,131 240,947,903 26,410,365 27,134,300 11.3% 2,173,324 97,000 12,000 $3.04 Columbus GA 456 16,609,933 2,296,270 2,444,887 14.7% (12,043) 0 0 $2.83 Corpus Christi 1,250 17,350,392 910,248 910,248 5.2% 159,788 0 16,800 $5.42 Dallas/Ft Worth 11,524 611,320,294 70,108,452 73,118,605 12.0% 113,225 1,060,759 598,948 $3.78 Davenport/Molin 254 8,370,719 775,732 835,732 10.0% (42,894) 0 0 $3.74 Dayton 3,306 107,657,453 14,919,051 14,927,952 13.9% 520,908 45,000 1,557,239 $3.28 Deltona/Dayton 1,243 17,496,563 1,547,867 1,605,558 9.2% (144,531) 0 0 $5.01 Denver 7,524 231,943,615 14,714,140 15,380,833 6.6% 2,489,379 810,612 100,781 $4.88 Des Moines 1,146 42,381,814 2,597,106 2,805,209 6.6% (9,870) 39,000 20,000 $3.80 Detroit 14,637 506,991,041 66,043,226 68,949,258 13.6% (252,762) 39,523 546,633 $4.12 Duluth 356 9,678,308 416,164 416,164 4.3% 63,023 0 0 $5.10 East Bay/Oaklan 7,157 239,059,380 21,937,425 23,190,017 9.7% (5,589,907) 3,456 609,000 $6.07 El Paso 1,469 53,890,371 7,389,980 8,644,411 16.0% (2,016,300) 42,492 0 $3.74 Erie 113 5,310,787 491,523 512,523 9.7% 94,996 0 0 $2.33 Evansville 453 16,892,404 3,410,877 3,420,477 20.2% (607,258) 0 0 $2.86 Fayetteville 329 10,999,036 1,833,005 1,877,505 17.1% (53,182) 0 0 $2.98 Fayetteville/Sprin 521 12,030,634 2,166,957 2,199,329 18.3% (240,804) 14,375 0 $3.64 Fort Smith 275 11,836,617 1,850,813 1,850,813 15.6% (163,407) 0 0 $2.56 Fort Wayne 851 34,819,210 4,763,477 5,090,550 14.6% (341,804) 0 0 $3.13 Fresno 3,309 93,094,959 8,715,428 8,825,995 9.5% 440,006 33,872 14,052 $3.35 Source: CoStar Property 2010 COSTAR GROUP, INC. THE COSTAR INDUSTRIAL REPORT 23

NATIONAL THIRD QUARTER 2010 National Industrial Market FIGURES AT A GLANCE Warehouse Market Statistics Third Quarter 2010 Existing Inventory Vacancy YTD Net YTD Under Quoted Market # Blds Total RBA Direct SF Total SF Vac % Absorption Deliveries Const SF Rates Green Bay 1,322 51,963,268 2,356,325 2,532,791 4.9% (254,552) 0 44,344 $3.51 Greensboro/Win 5,608 243,179,139 23,729,954 23,945,043 9.8% 1,500,966 9,600 380,000 $2.93 Greenville/Sparta 3,311 160,247,304 16,159,163 16,724,613 10.4% 482,659 23,728 77,089 $2.79 Hampton Roads 2,487 91,600,497 8,883,608 9,364,541 10.2% 164,161 67,925 86,523 $4.77 Hartford 4,431 169,005,969 18,384,755 18,812,513 11.1% (5,037) 245,241 657,000 $4.20 Hawaii 2,082 45,209,194 1,928,304 2,032,079 4.5% (41,141) 81,022 27,737 $11.20 Houston 12,759 455,357,842 25,693,937 26,374,557 5.8% 3,964,505 1,785,024 218,518 $4.81 Huntington/Ash 460 20,554,547 756,501 756,501 3.7% (204,631) 50,000 60,000 $3.66 Huntsville 228 8,907,716 1,744,426 1,765,426 19.8% 631,676 0 0 $5.20 Indianapolis 4,913 263,636,623 24,618,743 25,330,506 9.6% (1,249,301) 340,000 126,184 $3.99 Inland Empire (C 11,278 472,138,174 50,257,056 51,986,546 11.0% 5,549,038 961,868 3,108,657 $4.64 Jackson 496 18,727,479 2,312,367 2,507,149 13.4% 352,031 0 0 $3.33 Jacksonville (Flor 3,193 110,622,119 12,385,119 12,652,393 11.4% (536,610) 254,000 235,000 $3.82 Kansas City 5,425 236,579,662 16,691,183 17,248,413 7.3% (1,712,065) 16,350 50,000 $3.96 Killeen/Temple/F 116 3,115,890 291,806 291,806 9.4% (203,276) 0 0 $3.09 Kingsport/Bristol 271 13,413,811 1,723,082 1,723,082 12.8% (17,543) 0 0 $4.36 Knoxville 1,418 45,796,270 4,019,618 4,223,369 9.2% 1,413,235 574,884 40,000 $3.64 Lafayette 201 4,827,058 735,316 745,316 15.4% (442,120) 60,335 0 $3.36 Las Vegas 2,921 91,251,422 12,518,189 13,307,281 14.6% (983,948) 0 201,428 $5.82 Lexington/Fayet 1,069 37,690,190 1,835,155 1,864,955 4.9% (144,069) 11,694 0 $4.50 Lincoln 738 21,059,230 838,660 974,160 4.6% 436,853 103,971 36,059 $3.61 Little Rock/N Litt 1,420 50,637,903 4,011,436 4,018,098 7.9% 468,400 85,400 56,000 $3.14 Long Island (New 11,899 312,484,255 14,252,207 14,660,370 4.7% (1,154,601) 105,350 34,480 $9.63 Los Angeles 33,515 979,492,356 46,425,675 50,177,945 5.1% (4,331,407) 255,994 311,731 $6.69 Louisville 3,262 150,602,815 18,038,343 19,447,056 12.9% (1,983,496) 15,000 0 $3.40 Lubbock 2,016 31,815,350 967,408 1,027,733 3.2% 234,554 6,997 0 $2.53 Madison 1,724 71,989,498 5,253,177 5,856,977 8.1% (430,916) 0 0 $3.96 Marin/Sonoma 1,490 25,959,657 1,957,704 2,251,886 8.7% 274,054 8,326 12,000 $8.56 McAllen/Edinbur 265 11,324,846 1,655,453 1,667,548 14.7% 231,597 0 0 $4.08 Memphis 2,479 197,960,143 25,661,446 27,446,664 13.9% 678,074 400,000 111,703 $2.57 Miami-Dade Cou 8,512 225,061,144 20,259,860 20,918,304 9.3% 2,303,684 253,471 0 $6.80 Milwaukee 6,087 257,586,893 20,799,315 21,071,356 8.2% (484,293) 65,600 264,000 $4.09 Minneapolis 6,616 270,092,523 15,965,454 16,353,009 6.1% 814,606 27,000 25,224 $5.30 Mobile 766 17,570,842 2,671,042 2,671,042 15.2% (217,808) 0 0 $4.25 Montgomery 321 18,776,988 4,275,458 4,533,458 24.1% (456,827) 0 0 $2.75 Myrtle Beach/Co 184 3,389,564 461,467 461,467 13.6% (18,707) 0 0 $4.33 Nashville 3,182 165,965,102 16,430,510 17,844,979 10.8% (2,989,651) 735,000 6,734 $3.49 New Orleans/M 2,665 50,006,215 4,955,432 5,223,676 10.4% (81,648) 234,960 0 $4.74 Northern New Je 14,763 761,493,928 70,124,924 72,675,056 9.5% (593,820) 794,977 171,100 $5.34 Ocala 527 15,793,532 1,807,572 1,807,572 11.4% 115,804 0 0 $4.09 Oklahoma City 4,898 91,730,384 6,849,873 6,884,873 7.5% (168,280) 60,800 18,000 $3.51 Olympia 240 7,483,129 739,645 924,345 12.4% (78,566) 0 0 $4.84 Omaha/Council 1,756 52,992,328 2,696,127 2,773,821 5.2% 188,170 62,661 59,217 $4.73 Orange (Californ 9,233 237,219,182 14,007,614 14,763,521 6.2% (708,177) 134,421 375,000 $6.97 Orlando 5,263 149,245,746 17,418,852 18,133,116 12.1% 554,155 3,000 53,549 $4.84 Palm Beach Cou 2,592 49,799,077 5,048,250 5,371,063 10.8% 380,464 0 10,000 $7.61 Pensacola 818 15,691,908 1,866,648 1,927,601 12.3% (166,141) 0 0 $4.62 Source: CoStar Property 24 THE COSTAR INDUSTRIAL REPORT 2010 COSTAR GROUP, INC.

National Industrial Market FIGURES AT A GLANCE THIRD QUARTER 2010 NATIONAL Warehouse Market Statistics Third Quarter 2010 Existing Inventory Vacancy YTD Net YTD Under Quoted Market # Blds Total RBA Direct SF Total SF Vac % Absorption Deliveries Const SF Rates Peoria 274 13,615,171 818,574 825,074 6.1% 112,919 0 0 $3.59 Philadelphia 14,320 881,169,823 83,211,488 86,264,743 9.8% 5,514,288 1,377,872 1,645,562 $4.15 Phoenix 8,561 256,821,582 37,655,135 39,287,935 15.3% 3,018,441 1,372,277 310,061 $5.70 Pittsburgh 3,447 134,698,676 10,714,451 10,869,402 8.1% 1,066,980 9,900 76,325 $4.31 Port St Lucie/For 1,052 16,718,464 2,483,459 2,518,259 15.1% (76,743) 0 0 $6.41 Portland 4,758 169,273,228 13,536,860 14,032,313 8.3% 487,917 534,723 0 $5.52 Portland/South P 726 22,985,774 1,906,650 1,983,644 8.6% (82,202) 0 0 $4.22 Providence 2,088 69,594,373 5,609,462 5,627,462 8.1% 674,041 192,172 0 $4.95 Raleigh/Durham 1,699 70,740,208 8,419,410 8,802,762 12.4% (175,349) 19,500 100,000 $4.06 Reno/Sparks 1,104 55,333,619 5,843,931 6,695,378 12.1% 243,745 0 0 $5.08 Richmond VA 2,510 102,414,996 11,944,828 12,430,908 12.1% (1,096,105) 16,000 140,000 $3.43 Roanoke 559 22,266,049 3,220,698 3,308,698 14.9% 113,421 0 0 $2.96 Rochester 1,401 68,954,727 7,386,051 7,387,551 10.7% (924,239) 0 32,500 $3.89 Sacramento 5,860 189,421,361 21,394,297 22,838,204 12.1% (1,582,421) 31,368 309,660 $4.62 Salinas 633 17,216,547 1,624,276 1,729,403 10.0% 418,507 0 0 $5.24 Salt Lake City 5,884 177,462,741 9,026,689 9,198,141 5.2% (109,607) 28,559 151,000 $4.26 San Antonio 3,174 88,843,316 8,315,172 8,415,323 9.5% 639,969 709,230 882,335 $4.81 San Diego 6,893 148,711,633 13,572,498 14,210,531 9.6% 315,877 257,004 176,000 $8.44 San Francisco 4,151 78,076,754 4,423,993 4,524,293 5.8% (178,707) 0 0 $9.35 San Luis Obispo/ 363 5,623,629 135,058 145,058 2.6% 73,340 0 2,600 $7.57 Santa Barbara/St 1,023 10,260,809 770,698 820,477 8.0% 97,588 0 0 $8.83 Santa Cruz/Wats 436 7,531,703 562,674 562,674 7.5% (42,185) 0 0 $9.68 Savannah 406 28,432,790 9,156,594 9,969,744 35.1% 628,811 0 0 $5.51 Seattle/Puget So 6,852 271,814,846 19,240,614 21,028,857 7.7% (513,619) 476,226 192,028 $5.85 Shreveport/Boss 571 17,114,495 4,171,940 4,199,433 24.5% (671,942) 21,000 0 $3.00 South Bay/San Jo 3,828 104,665,967 7,359,857 7,794,033 7.4% 180,905 0 0 $7.68 South Bend/Mish 564 24,417,588 1,641,966 1,651,735 6.8% (57,086) 0 0 $2.79 Southwest Florid 3,109 40,562,666 5,403,637 5,499,146 13.6% 1,272 68,323 5,000 $5.61 Spokane 1,701 37,774,032 1,964,293 2,002,465 5.3% 61,379 6,000 18,000 $5.13 Springfield 487 15,493,378 1,697,674 1,726,519 11.1% 118,314 5,950 24,000 $4.13 St. Louis 5,195 245,820,113 19,752,869 20,065,660 8.2% 1,541,735 50,000 74,365 $3.95 Stockton/Modes 2,054 100,603,865 16,288,907 17,097,475 17.0% 1,124,502 125,970 0 $3.88 Syracuse 852 48,473,134 5,872,864 5,883,301 12.1% (977,235) 0 0 $3.58 Tallahassee 944 13,562,859 1,412,151 1,474,981 10.9% 14,542 30,000 0 $4.09 Tampa/St Peters 10,084 247,981,623 24,850,265 26,043,530 10.5% (200,326) 38,220 0 $4.82 Toledo 2,619 130,050,058 11,741,108 12,102,308 9.3% (798,125) 630,112 0 $2.84 Tucson 1,953 28,818,243 2,627,666 2,764,000 9.6% 217,699 5,824 14,400 $6.21 Tulsa 2,196 57,240,776 3,873,861 4,003,681 7.0% 785,201 81,753 2,637 $3.75 Utica/Rome 334 20,186,851 2,204,903 2,204,903 10.9% (477,638) 0 0 $2.49 Visalia/Porterville 799 24,011,567 1,678,487 1,853,593 7.7% (35,762) 0 4,856 $3.78 Washington 3,999 139,439,360 14,766,930 15,877,440 11.4% 407,685 386,100 207,376 $7.68 West Michigan 7,894 297,103,776 25,118,622 25,458,088 8.6% (1,276,353) 0 583,000 $3.09 Westchester/So 5,208 163,351,000 16,721,298 17,547,684 10.7% (1,131,039) 48,000 34,290 $6.73 Wichita 1,630 38,674,148 3,186,435 3,254,475 8.4% 70,254 6,000 0 $4.33 Wilmington 402 11,344,427 2,422,357 2,471,857 21.8% (653,066) 26,000 11,363 $3.45 Yakima 426 11,347,706 941,004 966,660 8.5% 10,435 0 0 $4.68 Youngstown/Wa 1,143 45,434,076 4,950,337 5,104,045 11.2% (622,733) 0 0 $2.70 Totals 473,504 17,671,370,381 1,692,684,063 1,762,677,713 10.0% (2,570,754) 20,830,105 18,192,098 $4.66 Source: CoStar Property 2010 COSTAR GROUP, INC. THE COSTAR INDUSTRIAL REPORT 25

NATIONAL THIRD QUARTER 2010 National Industrial Market FIGURES AT A GLANCE Total Industrial Market Statistics Third Quarter 2010 Existing Inventory Vacancy YTD Net YTD Under Quoted Market # Blds Total RBA Direct SF Total SF Vac % Absorption Deliveries Const SF Rates Albany/Schenect 2,138 85,822,094 6,232,234 6,305,050 7.3% 742,357 580,000 1,499,695 $5.23 Albuquerque 2,275 48,600,237 4,132,975 4,404,521 9.1% (1,045,651) 0 0 $7.15 Anchorage 758 15,760,176 475,843 527,193 3.3% (94,163) 0 16,000 $12.01 Asheville 557 18,452,772 2,485,800 2,616,085 14.2% (665,951) 53,500 0 $3.94 Atlanta 13,634 619,347,745 87,523,490 90,027,606 14.5% (6,092,585) 1,198,750 9,763 $3.94 Augusta/Richmo 775 23,783,868 5,095,033 5,103,087 21.5% 263,519 18,000 0 $2.63 Austin 2,954 84,491,530 11,371,052 11,546,367 13.7% (152,105) 32,500 19,285 $6.70 Bakersfield 1,101 25,798,498 2,736,729 2,758,502 10.7% (339,872) 5,000 46,170 $4.94 Baltimore 4,255 223,230,878 23,755,585 24,611,900 11.0% 1,397,802 189,934 250,360 $5.34 Baton Rouge 734 15,810,961 3,053,081 3,096,981 19.6% 47,386 0 100,000 $4.84 Beaumont/Port A 493 8,427,060 378,069 378,069 4.5% 49,177 0 0 $4.49 Birmingham 3,211 119,171,864 10,819,526 10,960,837 9.2% 160,864 27,100 0 $3.41 Boise City/Namp 1,821 39,847,257 2,688,693 2,720,848 6.8% 613,347 66,600 87,043 $5.56 Boston 10,450 482,956,742 54,513,951 57,408,017 11.9% (972,013) 163,169 173,847 $6.16 Bremerton/Silver 171 1,836,354 168,675 168,675 9.2% (8,194) 0 144,000 $6.93 Broward County 6,599 138,065,814 12,390,655 13,142,138 9.5% 857,798 75,121 17,565 $7.86 Brownsville/Harl 218 8,653,829 959,278 959,278 11.1% (29,204) 0 0 $3.51 Buffalo/Niagara 1,262 55,906,428 4,609,540 4,703,840 8.4% (222,832) 17,522 0 $4.25 Charleston WV 426 13,085,929 562,955 567,596 4.3% (29,895) 0 0 $5.25 Charleston/N Ch 1,126 29,729,372 3,350,796 3,690,198 12.4% 76,426 6,000 0 $4.86 Charlotte 6,689 280,375,843 37,243,281 38,808,367 13.8% (2,655,355) 146,281 93,133 $3.88 Chattanooga 727 32,935,724 7,017,394 7,298,614 22.2% (566,938) 59,311 0 $2.99 Chicago 21,039 1,139,888,340 132,155,398 138,412,860 12.1% 1,997,876 1,747,003 410,000 $4.87 Cincinnati 6,329 298,110,176 26,085,818 27,072,570 9.1% 1,972,667 40,000 307,278 $3.42 Cleveland 9,832 414,522,122 39,573,559 40,433,765 9.8% (2,990,522) 25,919 27,231 $3.70 Colorado Springs 1,720 32,890,636 4,270,785 4,434,712 13.5% 117,299 11,628 0 $6.11 Columbia 1,559 43,178,791 4,325,770 4,678,100 10.8% 207,570 0 0 $3.98 Columbus 4,444 250,820,424 27,841,743 28,616,933 11.4% 2,264,127 106,000 12,000 $3.21 Columbus GA 679 20,292,682 2,479,092 2,627,709 12.9% (32,685) 0 0 $2.95 Corpus Christi 1,295 18,135,838 971,004 984,004 5.4% 169,887 24,044 16,800 $5.64 Dallas/Ft Worth 18,417 753,364,012 86,544,589 90,165,430 12.0% (723,613) 1,166,907 628,686 $4.41 Davenport/Molin 278 8,791,244 793,422 853,422 9.7% (42,894) 0 0 $3.83 Dayton 3,491 110,577,539 15,597,209 15,606,110 14.1% 573,104 117,000 1,557,239 $3.48 Deltona/Dayton 1,347 19,006,897 1,847,128 1,904,819 10.0% (131,197) 0 0 $5.26 Denver 9,145 276,739,884 21,173,840 22,015,666 8.0% 2,827,132 855,994 153,063 $5.94 Des Moines 1,352 50,367,321 3,117,478 3,327,331 6.6% (25,093) 39,000 20,000 $4.09 Detroit 15,896 551,301,717 74,847,890 78,043,699 14.2% (145,046) 60,523 546,633 $4.57 Duluth 376 9,971,340 440,768 440,768 4.4% 65,421 0 0 $5.25 East Bay/Oaklan 8,760 296,544,648 31,999,625 33,596,524 11.3% (5,264,752) 44,736 764,200 $7.49 El Paso 1,810 59,765,726 7,680,757 8,935,188 15.0% (1,962,574) 42,492 0 $3.88 Erie 117 5,438,778 491,523 512,523 9.4% 94,996 0 0 $2.34 Evansville 518 20,379,448 3,555,310 3,564,910 17.5% (615,654) 0 0 $2.94 Fayetteville 420 11,906,332 1,944,995 1,989,495 16.7% (42,513) 0 20,310 $3.18 Fayetteville/Sprin 684 14,046,673 2,331,701 2,364,073 16.8% (232,604) 14,375 0 $3.89 Fort Smith 285 12,368,574 1,867,699 1,867,699 15.1% (163,407) 0 0 $2.56 Fort Wayne 988 38,314,479 4,879,239 5,206,312 13.6% (351,285) 0 0 $3.19 Fresno 3,413 94,935,327 8,977,767 9,088,334 9.6% 477,885 33,872 14,052 $3.47 Source: CoStar Property 26 THE COSTAR INDUSTRIAL REPORT 2010 COSTAR GROUP, INC.

National Industrial Market FIGURES AT A GLANCE THIRD QUARTER 2010 NATIONAL Total Industrial Market Statistics Third Quarter 2010 Existing Inventory Vacancy YTD Net YTD Under Quoted Market # Blds Total RBA Direct SF Total SF Vac % Absorption Deliveries Const SF Rates Green Bay 1,601 60,568,521 2,587,453 2,763,919 4.6% (236,393) 0 44,344 $3.62 Greensboro/Win 5,991 249,676,267 24,999,315 25,215,703 10.1% 1,468,896 9,600 380,000 $3.05 Greenville/Sparta 3,895 169,200,307 17,969,785 18,543,735 11.0% 385,297 23,728 77,089 $2.96 Hampton Roads 3,224 105,163,309 10,766,436 11,341,749 10.8% 33,933 89,068 155,223 $5.41 Hartford 5,564 194,744,268 20,919,526 21,511,482 11.0% 114,212 360,241 657,000 $4.49 Hawaii 2,158 46,860,916 2,116,706 2,231,203 4.8% 11,446 81,022 27,737 $11.51 Houston 14,434 499,966,226 30,733,048 31,515,247 6.3% 4,568,544 2,025,584 218,518 $5.20 Huntington/Ash 580 21,779,247 769,801 769,801 3.5% (217,931) 50,000 60,000 $3.66 Huntsville 281 11,060,304 1,968,197 1,989,197 18.0% 550,660 0 0 $5.44 Indianapolis 5,772 287,160,114 27,019,402 27,753,431 9.7% (1,125,275) 365,920 126,184 $4.28 Inland Empire (C 12,195 490,208,596 53,140,860 55,042,120 11.2% 5,636,149 961,868 3,108,657 $4.82 Jackson 604 20,291,670 2,552,151 2,746,933 13.5% 341,789 0 0 $3.52 Jacksonville (Flor 3,510 118,072,908 13,335,872 13,643,130 11.6% (386,751) 270,000 235,000 $4.10 Kansas City 5,910 248,272,664 18,236,780 18,809,393 7.6% (1,794,173) 16,350 50,000 $4.20 Killeen/Temple/F 128 3,305,400 297,406 297,406 9.0% (208,876) 0 0 $3.63 Kingsport/Bristol 297 13,926,397 1,760,873 1,760,873 12.6% 27,276 0 0 $4.54 Knoxville 2,221 55,476,845 4,586,526 4,790,277 8.6% 1,384,179 574,884 40,000 $3.89 Lafayette 207 5,180,339 739,122 749,122 14.5% (439,426) 60,335 0 $3.40 Las Vegas 3,908 110,053,019 16,410,309 17,229,040 15.7% (1,184,192) 0 201,428 $6.45 Lexington/Fayet 1,204 40,379,832 2,044,411 2,082,345 5.2% (191,712) 11,694 0 $4.63 Lincoln 931 23,100,516 932,844 1,068,344 4.6% 444,320 103,971 36,059 $3.70 Little Rock/N Litt 2,001 59,766,471 4,357,458 4,371,120 7.3% 407,785 85,400 56,000 $3.33 Long Island (New 12,465 336,187,736 16,085,926 16,591,532 4.9% (1,135,653) 105,350 119,480 $9.96 Los Angeles 36,491 1,050,893,990 51,384,165 55,487,246 5.3% (5,046,921) 285,162 311,731 $7.09 Louisville 3,714 160,307,961 19,217,470 20,655,526 12.9% (2,090,725) 36,149 0 $3.52 Lubbock 2,030 32,801,955 981,892 1,042,217 3.2% 242,154 6,997 0 $2.56 Madison 1,939 78,731,843 5,917,086 6,527,986 8.3% (529,794) 0 0 $4.17 Marin/Sonoma 1,937 34,798,602 3,443,339 3,747,842 10.8% 438,073 8,326 12,000 $10.36 McAllen/Edinbur 274 11,677,024 1,736,849 1,748,944 15.0% 337,047 0 0 $4.38 Memphis 2,890 206,613,268 27,447,113 29,271,052 14.2% 734,597 400,000 111,703 $2.83 Miami-Dade Cou 9,169 245,030,051 21,996,772 22,669,616 9.3% 2,544,672 253,471 61,500 $7.02 Milwaukee 7,343 300,509,303 22,726,268 23,000,992 7.7% (603,710) 65,600 269,200 $4.23 Minneapolis 8,571 344,637,897 23,018,990 23,493,942 6.8% 1,523,624 27,000 33,466 $5.82 Mobile 971 19,908,344 2,921,411 2,923,875 14.7% (206,983) 0 0 $4.32 Montgomery 450 20,718,080 4,462,765 4,733,265 22.8% (537,697) 0 0 $2.83 Myrtle Beach/Co 370 5,384,386 623,320 623,320 11.6% 36,135 5,000 0 $4.99 Nashville 3,590 179,560,022 18,245,089 19,800,864 11.0% (3,084,151) 735,000 6,734 $3.86 New Orleans/M 2,784 51,836,468 5,358,678 5,626,922 10.9% (144,700) 251,416 0 $4.86 Northern New Je 16,039 809,877,327 75,840,428 78,882,224 9.7% (196,511) 794,977 347,300 $5.68 Ocala 573 16,332,968 1,946,952 1,946,952 11.9% 56,424 0 0 $4.22 Oklahoma City 5,174 98,511,831 8,176,834 8,211,834 8.3% (37,314) 78,800 18,000 $3.67 Olympia 261 7,803,968 748,222 932,922 12.0% (67,566) 0 0 $4.94 Omaha/Council 2,061 59,969,204 3,288,908 3,366,602 5.6% 284,427 62,661 59,217 $4.95 Orange (Californ 12,393 308,382,324 19,932,965 20,981,690 6.8% (881,895) 134,421 375,000 $7.88 Orlando 6,758 179,420,204 22,146,213 22,977,406 12.8% 948,283 3,000 53,549 $5.45 Palm Beach Cou 3,207 62,578,477 6,665,678 7,061,166 11.3% 561,638 0 34,000 $8.16 Pensacola 951 17,014,838 2,141,782 2,202,735 12.9% (249,500) 8,430 0 $4.85 Source: CoStar Property 2010 COSTAR GROUP, INC. THE COSTAR INDUSTRIAL REPORT 27

NATIONAL THIRD QUARTER 2010 National Industrial Market FIGURES AT A GLANCE Total Industrial Market Statistics Third Quarter 2010 Existing Inventory Vacancy YTD Net YTD Under Quoted Market # Blds Total RBA Direct SF Total SF Vac % Absorption Deliveries Const SF Rates Peoria 357 14,730,412 855,654 862,154 5.9% 111,013 0 0 $3.63 Philadelphia 17,629 971,271,852 94,760,401 98,693,602 10.2% 5,076,636 1,468,392 1,721,362 $4.57 Phoenix 9,615 289,299,752 44,409,188 46,243,868 16.0% 3,175,070 1,372,277 380,061 $6.39 Pittsburgh 4,128 155,861,536 13,016,024 13,170,975 8.5% 1,287,375 104,900 208,525 $5.10 Port St Lucie/For 1,209 19,649,112 2,951,330 2,992,030 15.2% (20,668) 0 0 $6.76 Portland 5,512 188,402,752 16,018,049 16,601,341 8.8% 228,544 604,743 0 $6.19 Portland/South P 862 25,958,607 2,224,405 2,318,539 8.9% (54,270) 0 0 $4.55 Providence 2,230 73,267,422 6,012,675 6,030,675 8.2% 866,143 192,172 0 $5.06 Raleigh/Durham 2,962 98,222,612 12,263,704 12,799,440 13.0% (73,526) 84,300 120,100 $5.26 Reno/Sparks 1,430 63,199,066 6,757,730 7,630,971 12.1% 243,146 0 0 $5.39 Richmond VA 2,971 113,502,152 13,689,077 14,222,290 12.5% (1,344,519) 24,738 140,000 $3.96 Roanoke 683 23,762,396 3,354,882 3,442,882 14.5% 156,755 0 0 $3.09 Rochester 1,562 81,098,373 8,212,584 8,235,084 10.2% (870,224) 13,200 83,500 $4.13 Sacramento 6,920 211,416,414 25,816,683 27,474,259 13.0% (1,684,223) 31,368 309,660 $5.29 Salinas 658 17,792,587 1,668,856 1,774,883 10.0% 405,317 0 0 $5.45 Salt Lake City 7,056 200,127,239 10,908,174 11,127,396 5.6% (80,190) 51,807 151,000 $4.60 San Antonio 3,838 101,466,152 9,763,673 9,887,876 9.7% 747,399 709,230 882,335 $5.31 San Diego 8,672 192,236,535 20,371,741 21,541,552 11.2% (339,173) 257,004 176,000 $9.86 San Francisco 4,951 101,142,121 6,735,280 7,069,916 7.0% (361,047) 84,000 0 $11.36 San Luis Obispo/ 386 6,001,353 163,495 177,995 3.0% 60,028 0 2,600 $7.59 Santa Barbara/St 1,171 13,766,136 873,930 1,036,282 7.5% 79,325 2,751 0 $9.57 Santa Cruz/Wats 512 9,465,927 769,395 773,765 8.2% (64,618) 18,450 0 $10.59 Savannah 453 29,247,398 9,209,799 10,022,949 34.3% 660,091 0 0 $5.57 Seattle/Puget So 7,852 303,486,454 22,586,441 24,770,121 8.2% (482,433) 548,631 192,028 $7.07 Shreveport/Boss 814 19,416,696 4,288,850 4,316,343 22.2% (690,099) 21,000 0 $3.03 South Bay/San Jo 6,539 224,416,425 23,982,723 26,080,618 11.6% (421,960) 0 341,950 $11.10 South Bend/Mish 629 27,154,584 1,889,674 1,899,443 7.0% (87,422) 0 0 $2.91 Southwest Florid 3,460 45,997,169 6,659,674 6,760,583 14.7% (1,363) 83,107 5,000 $5.89 Spokane 1,955 41,670,184 2,175,063 2,213,235 5.3% 94,619 6,000 18,000 $5.25 Springfield 531 16,226,343 1,807,095 1,835,940 11.3% 128,491 5,950 24,000 $4.22 St. Louis 5,651 261,090,727 21,579,327 21,903,623 8.4% 1,612,197 90,000 74,365 $4.19 Stockton/Modes 2,160 103,842,761 16,599,758 17,412,326 16.8% 1,064,595 125,970 0 $3.93 Syracuse 1,417 56,113,614 6,420,857 6,431,294 11.5% (933,484) 42,921 0 $3.90 Tallahassee 1,044 15,475,573 1,532,593 1,595,423 10.3% (8,667) 30,000 0 $4.37 Tampa/St Peters 11,516 277,177,643 29,230,987 30,734,356 11.1% (171,212) 44,095 0 $5.24 Toledo 3,007 136,840,609 12,409,982 12,775,307 9.3% (842,411) 630,112 0 $2.92 Tucson 2,429 38,164,099 3,940,719 4,150,548 10.9% (40,070) 5,824 14,400 $6.68 Tulsa 2,639 65,159,667 4,484,283 4,614,103 7.1% 769,484 95,353 2,637 $3.89 Utica/Rome 504 22,611,849 2,356,052 2,356,052 10.4% (514,260) 8,327 0 $2.93 Visalia/Porterville 859 24,259,020 1,692,447 1,867,553 7.7% (31,962) 17,760 4,856 $3.79 Washington 5,620 206,737,549 24,496,791 26,309,627 12.7% 883,848 524,700 952,106 $9.08 West Michigan 8,190 307,966,733 26,364,409 26,733,875 8.7% (1,302,725) 0 583,000 $3.25 Westchester/So 5,896 188,370,561 20,580,546 21,432,636 11.4% (1,901,880) 123,000 34,290 $7.28 Wichita 1,666 39,751,663 3,294,433 3,362,473 8.5% 72,031 6,000 71,250 $4.41 Wilmington 836 16,740,472 2,878,276 2,927,776 17.5% (631,849) 96,365 11,363 $4.06 Yakima 488 11,761,183 945,735 971,391 8.3% 10,435 0 0 $4.72 Youngstown/Wa 1,182 46,510,181 5,020,237 5,173,945 11.1% (644,133) 0 0 $2.73 Totals 558,240 19,895,281,795 1,970,081,821 2,052,040,282 10.3% (4,004,092) 22,844,153 20,724,860 $5.22 Source: CoStar Property 28 THE COSTAR INDUSTRIAL REPORT 2010 COSTAR GROUP, INC.

National Industrial Market FIGURES AT A GLANCE THIRD QUARTER 2010 NATIONAL Flex Market Statistics* Third Quarter 2010 Existing Inventory Vacancy Net Deliveries UC Inventory Period # Blds Total RBA Direct SF Total SF Vac % Absorption # Blds Total RBA # Blds Total RBA Rates 2010 58,528 1,661,667,454 220,308,934 231,110,319 13.9% 282,948 6 188,550 37 2,308,060 $10.42 2010 2q 58,522 1,661,478,904 219,600,208 231,204,717 13.9% 2,210,820 16 581,534 39 2,168,420 $10.56 2010 58,506 1,660,897,370 220,896,725 232,834,003 14.0% (3,538,721) 22 695,478 45 2,226,322 $10.70 2009 4q 58,484 1,660,201,892 215,929,720 228,599,804 13.8% (1,395,686) 29 1,156,899 55 2,150,780 $10.90 2009 58,460 1,659,439,295 213,601,415 226,441,521 13.6% (7,750,167) 42 1,351,058 66 2,737,236 $11.33 2009 2q 58,421 1,658,223,734 205,524,863 217,475,793 13.1% (6,602,220) 66 1,963,736 91 3,580,878 $11.60 2009 58,358 1,656,308,833 197,006,681 208,958,672 12.6% (3,495,823) 107 3,720,412 128 4,413,092 $11.91 2008 4q 58,259 1,652,904,245 190,899,727 202,058,261 12.2% (264,462) 120 4,492,678 203 7,302,475 $12.18 2008 58,146 1,648,824,814 186,958,865 197,714,368 12.0% (362,283) 106 3,643,658 284 10,733,889 $12.35 2008 2q 58,041 1,645,350,406 183,259,528 193,877,677 11.8% (476,694) 114 3,250,449 303 12,319,513 $12.27 2008 57,928 1,642,125,157 179,820,708 190,175,734 11.6% 3,275,054 224 6,119,119 316 12,150,085 $12.11 2007 57,709 1,636,249,335 177,900,325 187,574,966 11.5% 22,016,203 676 17,669,152 400 12,686,820 $11.86 2006 57,057 1,620,396,605 181,518,368 193,738,439 12.0% 27,540,089 785 20,473,275 504 14,849,304 $11.09 2005 56,307 1,602,018,573 187,461,951 202,900,496 12.7% 40,613,228 732 20,515,082 615 16,941,441 $10.31 2004 55,597 1,582,455,473 202,407,670 223,950,624 14.2% 22,781,984 658 18,528,820 573 16,714,161 $9.82 2003 54,965 1,565,043,372 201,786,479 229,320,507 14.7% (3,614,545) 560 14,953,574 485 15,183,440 $10.17 Source: CoStar Property * Excludes markets - see Methodology page. Quoted Warehouse Market Statistics* Third Quarter 2010 Existing Inventory Vacancy Net Deliveries Period # Blds Total RBA Direct SF Total SF Vac % Absorption # Blds Total RBA # Blds Total RBA Rates 2010 326,180 12,761,624,048 1,224,348,898 1,277,108,343 10.0% 7,363,295 54 4,600,597 102 12,332,026 $4.88 2010 2q 326,132 12,757,137,338 1,225,311,921 1,279,984,928 10.0% 7,232,026 39 3,921,451 144 16,010,133 $4.95 2010 326,102 12,755,183,948 1,228,243,485 1,285,263,564 10.1% (12,713,628) 69 7,065,997 168 17,131,466 $5.01 2009 4q 326,051 12,750,844,149 1,211,482,688 1,268,210,137 9.9% (12,317,987) 119 10,830,524 163 17,343,233 $5.08 2009 325,945 12,740,831,041 1,192,412,975 1,245,879,042 9.8% (24,527,088) 184 17,800,269 245 25,325,132 $5.23 2009 2q 325,778 12,723,639,165 1,152,961,129 1,204,160,078 9.5% (55,546,456) 205 19,689,524 364 37,557,449 $5.31 2009 325,594 12,704,738,601 1,079,308,488 1,129,713,058 8.9% (46,581,137) 360 29,002,244 487 54,377,598 $5.37 2008 4q 325,273 12,677,804,456 1,008,574,908 1,056,197,776 8.3% (17,129,753) 401 43,226,087 676 70,109,735 $5.43 2008 324,906 12,637,913,727 954,795,096 999,177,294 7.9% 44,003,118 490 39,946,951 930 102,185,573 $5.45 2008 2q 324,453 12,600,695,778 964,163,694 1,005,962,463 8.0% (38,124,491) 539 50,848,900 1,179 120,290,773 $5.42 2008 323,930 12,551,184,618 880,887,057 918,326,812 7.3% 66,320,830 768 48,981,890 1,342 137,357,365 $5.39 2007 323,242 12,507,737,742 905,885,681 941,200,766 7.5% 179,888,832 2,770 181,078,713 1,580 148,050,060 $5.35 2006 320,637 12,339,373,957 916,373,963 952,722,568 7.7% 205,672,055 3,024 195,385,162 2,074 151,834,434 $5.15 2005 317,810 12,156,357,879 937,958,020 975,378,545 8.0% 178,697,584 2,897 159,708,243 2,306 160,991,250 $4.96 2004 315,105 12,013,613,374 965,875,850 1,011,331,624 8.4% 143,936,046 2,699 141,899,070 2,212 130,837,368 $4.77 2003 312,671 11,892,493,208 980,328,760 1,034,147,504 8.7% 68,288,706 2,305 110,862,234 1,937 110,306,254 $4.73 Source: CoStar Property * Excludes markets - see Methodology page. UC Inventory Quoted Total Industrial Market Statistics* Third Quarter 2010 Existing Inventory Vacancy Net Deliveries UC Inventory Period # Blds Total RBA Direct SF Total SF Vac % Absorption # Blds Total RBA # Blds Total RBA Rates 2010 384,708 14,423,291,502 1,444,657,832 1,508,218,662 10.5% 7,646,243 60 4,789,147 139 14,640,086 $5.52 2010 2q 384,654 14,418,616,242 1,444,912,129 1,511,189,645 10.5% 9,442,846 55 4,502,985 183 18,178,553 $5.60 2010 384,608 14,416,081,318 1,449,140,210 1,518,097,567 10.5% (16,252,349) 91 7,761,475 213 19,357,788 $5.66 2009 4q 384,535 14,411,046,041 1,427,412,408 1,496,809,941 10.4% (13,713,673) 148 11,987,423 218 19,494,013 $5.76 2009 384,405 14,400,270,336 1,406,014,390 1,472,320,563 10.2% (32,277,255) 226 19,151,327 311 28,062,368 $5.96 2009 2q 384,199 14,381,862,899 1,358,485,992 1,421,635,871 9.9% (62,148,676) 271 21,653,260 455 41,138,327 $6.07 2009 383,952 14,361,047,434 1,276,315,169 1,338,671,730 9.3% (50,076,960) 467 32,722,656 615 58,790,690 $6.17 2008 4q 383,532 14,330,708,701 1,199,474,635 1,258,256,037 8.8% (17,394,215) 521 47,718,765 879 77,412,210 $6.28 2008 383,052 14,286,738,541 1,141,753,961 1,196,891,662 8.4% 43,640,835 596 43,590,609 1,214 112,919,462 $6.32 2008 2q 382,494 14,246,046,184 1,147,423,222 1,199,840,140 8.4% (38,601,185) 653 54,099,349 1,482 132,610,286 $6.29 2008 381,858 14,193,309,775 1,060,707,765 1,108,502,546 7.8% 69,595,884 992 55,101,009 1,658 149,507,450 $6.27 2007 380,951 14,143,987,077 1,083,786,006 1,128,775,732 8.0% 201,905,035 3,446 198,747,865 1,980 160,736,880 $6.21 2006 377,694 13,959,770,562 1,097,892,331 1,146,461,007 8.2% 233,212,144 3,809 215,858,437 2,578 166,683,738 $6.00 2005 374,117 13,758,376,452 1,125,419,971 1,178,279,041 8.6% 219,310,812 3,629 180,223,325 2,921 177,932,691 $5.81 2004 370,702 13,596,068,847 1,168,283,520 1,235,282,248 9.1% 166,718,030 3,357 160,427,890 2,785 147,551,529 $5.67 2003 367,636 13,457,536,580 1,182,115,239 1,263,468,011 9.4% 64,674,161 2,865 125,815,808 2,422 125,489,694 $5.74 Source: CoStar Property * Excludes markets - see Methodology page. Quoted 2010 COSTAR GROUP, INC. THE COSTAR INDUSTRIAL REPORT 29

NATIONAL THIRD QUARTER 2010 National Industrial Market LEASING ACTIVITY Historical Rental Rates* $14.00 Flex Warehouse Total Market $12.00 $10.00 Dollars/SF/Year $8.00 $6.00 $4.00 $2.00 $0.00 2000 4q 2001 2001 2q 2001 2001 4q 2002 2002 2q 2002 2002 4q 2003 2003 2q 2003 2003 4q 2004 2004 2q 2004 2004 4q 2005 2005 2q 2005 2005 4q 2006 2006 2q 2006 2006 4q 2007 2007 2q 2007 2007 4q 2008 2008 2q 2008 2008 4q 2009 2009 2q 2009 2009 4q 2010 2010 2q 2010 Source: CoStar Property *Excludes markets - see Methodology page. Vacancy by Available Space Type Percent of All Vacant Space in Direct vs. Sublet 4% Direct Sublet Vacancy by Building Type Percent of All Vacant Space by Building Type Flex Warehouse 14% Source: CoStar Property 96% Source: CoStar Property 86% Future Space Available Space Scheduled to be Available for Occupancy in the Future* 80.0 75.62 70.0 60.0 50.0 40.0 30.0 26.73 20.0 10.0 0.0 7.64 3.27 0.86 0.11 2010 4q 2011 2011 2q 2011 2011 4q 2012 * includes Under Construction Spaces Source: CoStar Property 30 THE COSTAR INDUSTRIAL REPORT 2010 COSTAR GROUP, INC.

National Industrial Market LEASING ACTIVITY THIRD QUARTER 2010 NATIONAL Select Top Industrial Leases Based on Leased Square Footage For Deals Signed in 2010 Building Market SF Qtr Tenant Name Tenant Rep Company Landlord Rep Company 1 4750-5050 W Mohave St Phoenix 1,207,021 3rd Amazon.com, Inc. C&W Commerce Jones Lang LaSalle 2 Olive Branch Distribution Center #2 Memphis 1,170,218 3rd Hamilton Beach Brands, Inc. Wilkinson and Snowden, Inc. ProLogis 3 8249 N Haggerty Rd Detroit 1,074,888 3rd WF Whelan Direct Deal Colliers International 4 521 Northridge Park Dr Greensboro/Winston-Salem 930,300 1st Hanes Printable Distribution Center N/A Capital Solutions, Inc. 5 47-49 Station Rd* Northern New Jersey 928,000 3rd Volkswagen of America, Inc. N/A N/A 6 777 Igloo Rd Houston 914,195 2nd Igloo Products Corp. N/A N/A 7 11640 Harrell St Inland Empire (California) 886,055 2nd Restoration Hardware N/A CB Richard Ellis 8 Liberty Distribution Center - Bldg 300 Atlanta 851,349 3rd Phillips Van Heusen Corporation Cushman & Wakefield of Georgia, Inc Resource Real Estate Partners 9 Lebanon Business Park - Bldg 12* Indianapolis 842,000 2nd CNH Global N.V. Summit Realty Group Duke Realty Corporation 10 381 Airtech Pky Indianapolis 813,054 1st NICE-PAK Products, Inc. Halakar Properties, Inc. Summit Realty Group 11 Reckitt Benckiser* Philadelphia 812,000 2nd Reckitt Benckiser (North America) Inc. Newmark Knight Frank New York Life Insurance Company 12 2222 E Beamer St & 221 Hanson Way* Sacramento 800,000 2nd Hewlett Packard Cushman & Wakefield Cornish & Carey Commercial NKF 13 2151 S Vintage Ave Inland Empire (California) 766,235 3rd Toyo Tire U.S.A. Corp. The Everest Group, Inc. CB Richard Ellis 14 CA Commer Ctr IV Bldg 5* Inland Empire (California) 725,000 2nd Target Distribution N/A Majestic Realty Co. 15 Wineville Center Pointe - Phase I* Inland Empire (California) 650,451 2nd Walmart Distribution Center N/A N/A 16 Duke Intermodal I Dallas/Ft Worth 626,100 2nd American Standard CB Richard Ellis Duke Realty LP 17 705 Boulder Dr Philadelphia 615,000 1st Amazon.com Cushman & Wakefield, Inc. Jones Lang LaSalle-Harrisburg 18 11101 Etiwanda Ave Inland Empire (California) 611,968 3rd Allied West Paper Corp. N/A CB Richard Ellis 19 Ollie s Bargain Outlet Distribution Center Philadelphia 603,000 1st Ollie s Bargain Outlet Distribution Center N/A N/A 20 United Stationers Supply* Atlanta 600,000 3rd United Stationers, Inc. Jones Lang LaSalle Direct Deal 21 4221 Pilot Dr Memphis 600,000 3rd BP N/A Colliers Management Services, LLC 22 Key Logistics Park - Building 1 Philadelphia 600,000 1st Office Depot N/A CB Richard Ellis 23 Hebron Bldg 2 Cincinnati 598,000 2nd HK Systems Inc CB Richard Ellis Duke Realty Corporation 24 Alliance Gateway Bldg 60 Dallas/Ft Worth 596,000 1st Lego Systems Inc Cushman & Wakefield of Texas, Inc. Hillwood Properties 25 65 Corporate Woods Dr* St. Louis 556,287 2nd Erx Logistics Whirlpool Jones Lang LaSalle Block Hawley Commercial Real Estate 26 Butterfield East 550* Chicago 549,588 3rd Midwest Warehouse HSA Commercial Real Estate Duke Realty Corporation 27 Etna Dist Ctr #3 Columbus 523,965 1st Coty Inc Ruscilli Real Estate Services Inc ProLogis 28 5233 Commonwealth Ave Jacksonville (Florida) 521,433 1st Football Fanatics Colliers Dickinson Grubb & Ellis Phoenix Realty Group 29 281 Airtech Pky* Indianapolis 507,544 2nd Ozburn-Hessey Logistics, LLC Summit Realty Group ProLogis 30 Heartland Corporate Center - Bldg B Chicago 507,187 3rd Jacobson Companies N/A Colliers International 31 1123 Warner Ave* Orange (California) 500,624 1st Ricoh Logistics N/A Cushman & Wakefield, Inc. 32 5800 W Industrial Dr* Chicago 500,200 2nd World Kitchen, Inc. NAI Hiffman Direct Deal 33 Stone Fort Distribution Center #1* Chattanooga 500,000 1st Electrolux Home Products, Inc. N/A Inland American Industrial Manageme 34 Southpark F (Nissan)* Nashville 500,000 1st Nissan Trading Corporation - U.S.A. CB Richard Ellis Cassidy Turley 35 Deltapoint I Memphis 472,000 1st Solae Paradigm Realty Advisors, LLC Commercial Alliance Management, LLC 36 Hermosa II Inland Empire (California) 468,682 1st Sharp Electronics Corp. Cushman & Wakefield, Inc. Jones Lang LaSalle 37 1901 California St Inland Empire (California) 467,853 2nd Mars Petcare, Inc. N/A ProLogis 38 17300 W Broadway Rd Phoenix 460,000 2nd Tower Automotive Binswanger Binswanger 39 Port Commerce Center Phase I - Bldg A Seattle/Puget Sound 444,400 3rd Pepsico/Quaker Distribution CB Richard Ellis Northwest Building LLC 40 Mesquite Distribution Center - Bldg 1 Dallas/Ft Worth 442,035 1st GP Consumer Products LP Cushman & Wakefield of Texas, Inc. ProLogis Source: CoStar Property * Renewal 2010 COSTAR GROUP, INC. THE COSTAR INDUSTRIAL REPORT 31

NATIONAL THIRD QUARTER 2010 National Industrial Market LEASING ACTIVITY Change In Vacant Square Footage Last 12 Months Third Quarter 2009 to Third Quarter 2010 Rank Region 2009 2010 Diff 1 Lafayette 191,865 749,122 290.4% 2 Killeen/Temple/Fort Hood 88,530 297,406 235.9% 3 Huntington/Ashland 500,370 769,801 53.8% 4 Asheville 1,706,037 2,616,085 53.3% 5 Wilmington 1,945,428 2,927,776 50.5% 6 Bakersfield 1,875,716 2,758,502 47.1% 7 Anchorage 369,983 527,193 42.5% 8 Lubbock 745,676 1,042,217 39.8% 9 Utica/Rome 1,701,777 2,356,052 38.4% 10 Albuquerque 3,243,647 4,404,521 35.8% 11 Bremerton/Silverdale 125,181 168,675 34.7% 12 Mobile 2,277,795 2,923,875 28.4% 13 Fort Smith 1,457,529 1,867,699 28.1% 14 Shreveport/Bossier City 3,399,954 4,316,343 27.0% 15 Pensacola 1,743,919 2,202,735 26.3% 16 Nashville 15,993,353 19,800,864 23.8% 17 Westchester/So Connecticut 17,689,992 21,432,636 21.2% 18 Evansville 2,946,537 3,564,910 21.0% 19 Youngstown/Warren/Boardman 4,298,402 5,173,945 20.4% 20 Las Vegas 14,394,390 17,229,040 19.7% 21 Lexington/Fayette 1,741,223 2,082,345 19.6% 22 East Bay/Oakland 28,301,316 33,596,524 18.7% Source: CoStar Property Rank Region 2009 2010 Diff 23 Santa Cruz/Watsonville 654,312 773,765 18.3% 24 Deltona/Daytona Beach 1,636,879 1,904,819 16.4% 25 Syracuse 5,527,975 6,431,294 16.3% 26 Montgomery 4,089,248 4,733,265 15.7% 27 Columbia 4,048,159 4,678,100 15.6% 28 Toledo 11,188,536 12,775,307 14.2% 29 Jacksonville (Florida) 11,986,323 13,643,130 13.8% 30 Long Island (New York) 14,618,550 16,591,532 13.5% 31 Hawaii 1,993,113 2,231,203 11.9% 32 Sacramento 24,556,820 27,474,259 11.9% 33 Wichita 3,007,016 3,362,473 11.8% 34 South Bend/Mishawaka 1,704,810 1,899,443 11.4% 35 Atlanta 81,227,664 90,027,606 10.8% 36 El Paso 8,079,110 8,935,188 10.6% 37 Richmond VA 12,861,164 14,222,290 10.6% 38 Los Angeles 50,265,892 55,487,246 10.4% 39 San Francisco 6,427,975 7,069,916 10.0% 40 Chattanooga 6,641,546 7,298,614 9.9% 41 Charlotte 35,402,064 38,808,367 9.6% 42 Fayetteville/Springdale/Rogers 2,160,197 2,364,073 9.4% 43 Buffalo/Niagara Falls 4,309,028 4,703,840 9.2% 44 Fayetteville 1,829,836 1,989,495 8.7% 32 THE COSTAR INDUSTRIAL REPORT 2010 COSTAR GROUP, INC.

National Industrial Market SALES ACTIVITY THIRD QUARTER 2010 NATIONAL The Optimist Sales Index Average of Two Highest Price/SF's and Two Lowest Cap Rates From Each Region 9.0% Cap Rate Price/SF $200 8.0% $180 7.0% $160 Cap Rate Percentage 6.0% 5.0% 4.0% 3.0% 2.0% $140 $120 $100 $80 $60 $40 Dollars/SF 1.0% $20 0.0% 2007 2007 4q 2008 2008 2q 2008 2008 4q 2009 2009 2q 2009 2009 4q 2010 2010 2q $0 Source: CoStar COMPS Sales Volume & Price Sales Analysis by Building Size Based on Industrial Building Sales of 15,000 SF and Larger Based on Industrial Bldg Sales From July 2009 - June 2010 Sales Volume Price/SF Bldg Size # RBA $ Volume Price/SF Cap Rate $10,000 $80 Millions of Sales Volume Dollars $9,000 $8,000 $7,000 $6,000 $5,000 $4,000 $3,000 $2,000 $1,000 $70 $60 $50 $40 $30 $20 $10 Price/SF < 25,000 SF 3,453 39,250,544 $ 3,700,676,846 $ 94.28 6.67% 25K-99K SF 1,596 75,706,585 $ 4,128,850,762 $ 54.54 6.00% 100K-249K SF 416 61,053,965 $ 2,577,375,495 $ 42.21 4.58% $0 2005 2006 2006 2007 2007 2008 2008 2009 2009 2010 $0 >250K SF 154 88,209,613 $ 2,770,538,071 $ 31.41 4.10% Source: CoStar COMPS Source: CoStar COMPS Historical Price/SF Average Based on Industrial Building Sales of 15,000 SF and Larger Historical Cap Rate Average Based on Industrial Building Sales of 15,000 SF and Larger $80 10.0% Dollars per SF $70 $60 $50 $40 $30 $20 $10 Cap Rate Percentage 9.0% 8.0% 7.0% 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% $0 2005 2006 2006 2007 2007 2008 2008 2009 2009 2010 0.0% 2005 2006 2006 2007 2007 2008 2008 2009 2009 2010 Source: CoStar COMPS Source: CoStar COMPS 2010 COSTAR GROUP, INC. THE COSTAR INDUSTRIAL REPORT 33

NATIONAL THIRD QUARTER 2010 National Industrial Market SALES ACTIVITY 34 THE COSTAR INDUSTRIAL REPORT 2010 COSTAR GROUP, INC.

National Industrial Market SALES ACTIVITY THIRD QUARTER 2010 NATIONAL 2010 COSTAR GROUP, INC. THE COSTAR INDUSTRIAL REPORT 35