Office Market Activity Report

Q2 2010 Office Market Activity Report Salt Lake County Second Quarter 2010 Office Market Overview - Q2 2010 Change since: Current Q1 10 Q4 09 Direct Office Vacancy 15.97% Sublease Vacancy 1.49% Average Lease Rate $20.58 Completed Construction 150,000 Direct vacancy rates in the second quarter declined slightly to 15.97% down from 16.20% at the end of first quarter 2010. Lease rates remained unchanged over the last six months and landlords are continuing to offer concessions to lure new tenants. Direct absorption was a positive 106,326 SF for the year resulting from -76,373 SF during the first quarter and 182,699 in the second quarter. Three buildings totaling 218,000 SF have been added to the market this year with 60% pre-leased. The office market will continue to be a tenant driven market through the balance of 2010. Class A Quoted Rents $30 $28 $26 Class A Quoted Rents* CBD $26.34 $26.30 $27.83 $28.30 $28.58 Periphery $23.06 $23.06 $23.06 $23.71 $23.60 Suburban $23.31 $23.32 $23.22 $23.22 $23.20 $24 $22 $20 Q2 09 Q3 09 Q4 09 Q1 10 Q2 10 CBD Periphery Suburban Direct Market Vacancy 20% 15% 10% Office Market Direct Vacancy** CBD 11.34% 12.88% 18.18% 18.35% 15.14% Periphery 9.09% 8.91% 8.67% 10.53% 10.95% Suburban 15.16% 16.80% 16.11% 16.44% 17.15% Overall 13.61% 15.01% 15.72% 16.20% 15.97% 5% 0% Q2 09 Q3 09 Q4 09 Q1 10 Q2 10 Direct Market Absorption 250K 200K 150K 100K 50K 0K -50K -100K -150K -200K -250K -300K Q2 09 Q3 09 Q4 09 Q1 10 Q2 10 Office Market Direct Absorption** CBD -59,594-102,727-9,780 58,219 227,427 Periphery 1,100 6,681 8,541-67,412-15,226 Suburban 296,410-161,336 171,129-67,180-29,502 Overall 237,916-257,382 169,890-76,373 182,699 Office Market Activity Report Tel 801.322.2000 comre.com REAL ESTATE SOLUTIONS COMRE.COM

Sublease Vacancy 2.0% 1.5% 1.0% Office Market Sublease Vacancy CBD 2.28% 2.82% 2.42% 1.90% 1.94% Periphery 0.67% 0.86% 0.77% 1.45% 1.66% Suburban 1.58% 1.29% 1.02% 2.02% 1.30% Overall 1.62% 1.58% 1.31% 1.93% 1.49% 0.5% 0.0% Q2 09 Q3 09 Q4 09 Q1 10 Q2 10 Construction 500K 400K 300K 200K Office Market Construction CBD 0 0 420,904 0 0 Periphery 0 0 0 0 0 Suburban 133,585 119,500 36,000 68,000 150,000 Overall 133,585 119,500 456,904 68,000 150,000 100K 0K Q2 09 Q3 09 Q4 09 Q1 10 Q2 10 Notes: * Weighted full service asking lease rates. ** Sublease space is not included in these figures. Disclaimer: The enclosed information, while not guaranteed, has been secured from sources we believe to be reliable. Commerce Real Estate Solutions Copyright 2010 - All Rights Reserved Notable Second Quarter Transactions Property Tenant Size Class 222 South Main Street The Goldman Sachs Group 154,505 SF A Time Square Marriott Worldwide Reservations 128,832 SF C Cottonwood Corporate Center 9 Dyno Nobel 39,373 SF A Key Bank Tower Tanner 28,787 SF A Millrock Park South Coldwell Banker Commercial NRT 23,653 SF A Commerce real estate solutions Office Market Activity Report Salt Lake County Second Quarter 2010 comre.com

Q2 2010 Industrial Market Activity Report Salt Lake County Second Quarter 2010 Industrial Market Overview - Q2 2010 Total Market Square Feet: Change since: Current Q1 10 Q4 09 Industrial Vacancy 7.59% Average Market Lease Rate $0.39 Completed Construction 25,000 SF As expected the industrial vacancy rate has increased slightly now standing at 7.59%, but still much healthier than most of our Western neighbors. The overall industrial market activity experienced a 19% decline over the past 12 months and 33% from historic highs of 2007. Industrial leasing activity is up 29% while sales activity is down a startling 84% of last mid - year numbers, reflecting a dearth of debt capital available to owner users forcing them into leased premises. Leasing rates are down nearly 8% while landlords aggressively compete for fewer deals. Sales prices show an 11% increase year-over-year, but is shaded by minimal transaction volume. Industrial Market Overview Square Feet Available Sq. Ft. Total Market Sq. Ft. Vacancy Total Market Vacancy Increment 0-5,000 320,395 4,667,461 0.29% 6.86% 5,001-20,000 1,883,652 22,325,536 1.70% 8.44% 20,001-50,000 2,125,367 25,670,621 1.92% 8.28% 50,001-100,000 1,335,574 18,736,698 1.20% 7.13% 100,000+ 2,751,203 39,525,404 2.48% 6.96% Total 8,416,191 110,925,720 7.59% Industrial Lease Rates (NNN) / Sq. Ft. / Month Square Feet Average 2010 Asking Rate^ Number of Q2 Transactions Average 2009 Actual Rate*^ Average 2010 Actual Rate*^ 0-5,000 $0.46 46 $0.43 $0.35 5,001-20,000 $0.44 48 $0.43 $0.39 20,001-50,000 $0.42 10 $0.38 $0.38 50,001-100,000 $0.37 4 $0.50 $0.27 100,000+ $0.33 3 $0.31 $0.31 Overall Weighted Average $0.39 111 $0.38 $0.35 Industrial Sales Prices / Sq. Ft. Square Feet Average 2010 Asking Price Number of Q2 Transactions Average 2009 Sales Price Average 2010 Sale Price 0-5,000 $111.46 2 $100.00 $116.52 5,001-20,000 $72.03 7 $82.39 $72.67 20,001-50,000 $66.32 2 $53.10 $55.55 50,001-100,000 $58.63 0 $65.29-100,000+ $52.51 0 $35.28 - Overall Weighted Average $60.79 11 $59.57 $66.36 Industrial Market Activity Report Tel 801.322.2000 comre.com REAL ESTATE SOLUTIONS COMRE.COM

Average Lease Rates Average Lease Rates *^ $0.60 Square Feet 0-5,000 $0.46 $0.42 $0.43 $0.36 $0.35 $0.50 5,001-20,000 $0.43 $0.43 $0.43 $0.40 $0.39 $0.40 20,001-50,000 $0.42 $0.38 $0.38 $0.39 $0.38 50,001-100,000 $0.52 $0.52 $0.50 $0.26 $0.27 $0.30 100,000+ $0.31 $0.30 $0.38 $0.32 $0.31 Total $0.41 $0.38 $0.38 $0.35 $0.35 $0.20 0-5,000 5,001-20,000 20,001-50,000 50,001-100,000 100,000+ Average Sale Prices Average Sale Prices $120 Square Feet $100 0-5,000 $98.47 $92.16 $100.00 $116.52 $116.52 $80 5,001-20,000 $71.86 $70.45 $82.39 $73.38 $72.67 $60 20,001-50,000 $75.45 $54.47 $53.10 $67.86 $55.55 50,001-100,000 $72.85 $72.85 $65.29 - - $40 100,000+ $52.30 $52.36 $35.28 - - $20 Total $60.99 $59.07 $59.57 $73.91 $66.36 $0 0-5,000 5,001-20,000 20,001-50,000 50,001-100,000 100,000+ Leasing Activity Leasing Activity 600K Square Feet 500K 0-5,000 34,524 70,995 109,445 57,011 63,685 400K 5,001-20,000 59,603 272,783 153,813 161,103 356,637 300K 20,001-50,000 77,917 169,989 33,504 108,291 214,131 50,001-100,000 54,428 0 59,326 114,258 138,996 200K 100,000+ 528,974 502,148 285,545 114,161 380,153 100K Total 755,446 1,015,915 641,633 554,824 1,153,602 0 0-5,000 5,001-20,000 20,001-50,000 50,001-100,000 100,000+ Sales Activity Sales Activity 500K Square Feet 0-5,000 15,274 8,835 9,777 6,647 0 400K 5,001-20,000 39,120 11,040 57,380 54,920 16,360 300K 20,001-50,000 38,400 30,435 112,840 42,000 30,453 200K 50,001-100,000 139,597 0 81,099 0 0 100,000+ 469,505 0 285,545 0 0 100K Total 701,896 50,310 546,641 103,567 46,813 0 0-5,000 5,001-20,000 20,001-50,000 50,001-100,000 100,000+ Commerce real estate solutions Industrial Market Activity Report Salt Lake County Second Quarter 2010 comre.com

Total Activity Total Activity 100K Square Feet 800K 0-5,000 49,798 79,830 119,222 63,658 63,685 5,001-20,000 98,723 283,643 211,373 216,023 372,997 600K 20,001-50,000 116,317 200,424 146,344 366,314 28,561 400K 50,001-100,000 194,025 0 140,425 114,258 138,996 200K 100,000+ 998,449 502,148 571,090 114,161 308,153 Total 1,457,312 1,066,045 1,188,454 874,414 984,392 0 0-5,000 5,001-20,000 20,001-50,000 50,001-100,000 100,000+ Notes: * Actual rates include tenant build-out. ^ Conversion from MG or G lease type to NNN is $0.16 for 0 to 5K, $0.12 for 5 to 50K and $0.09 for 50K+. Disclaimer: The enclosed information, while not guaranteed, has been secured from sources we believe to be reliable. Commerce Real Estate Solutions Copyright 2010 - All Rights Reserved Industrial Parks Park Buildings Available Available Sq. Ft. Total Sq. Ft. Vacancy Bonneville 1 512,482 768,482 66.69% Centennial 22 424,300 6,992,050 6.06% Commerce Park 0 0 980,283 0.00% Decker Lake 22 177,995 4,320,727 4.12% Metro Business 13 138,440 842,066 16.44% Ninigret 8 680,982 3,576,296 19.04% Landmark 8 481,460 5,825,488 8.26% Pioneer 4 92,556 1,145,570 8.08% SL International Center 12 738,306 5,249,488 14.06% Sorenson Tech. 5 291,280 2,677,817 10.88% Wagner 12 343,553 5,261,597 6.53% Notable Second Quarter Transactions Property Location Size Americold 1646 South 4490 West, Salt Lake City 242,405 SF InTegracore 9669 South Prosperity Rd., West Jordan 137,748 SF UPS 2431 Progress Drive, West Valley 69,696 SF Metech Recycling 2250 West Bridge Road, Salt Lake City 69,300 SF Commerce real estate solutions Industrial Market Activity Report Salt Lake County Second Quarter 2010 comre.com

Q2 2010 Retail Market Activity Report Salt Lake County Second Quarter 2010 Retail Market Overview - Q2 2010 Total Market Square Feet: Change since: Current Q1 10 Q4 09 Retail Vacancy 9.25% Average Market Lease Rate $19.12 Completed Construction 74,216 SF na Retail Market Overview by Sub-Market With Malls Market SF Vacant SF Vacancy Northeast 4,784,404 411,492 8.60% Central East 6,096,714 509,609 8.36% Southeast 9,528,489 1,074,931 11.28% Northwest 876,650 54,639 6.23% Central West 7,108,751 714,909 10.06% Southwest 8,658,063 660,597 7.63% Total 37,053,071 3,426,177 9.25% Closures of national retailers have mostly subsided in the Salt Lake market from 2009. Lease rates have remained relatively level with the exception of the SW trade area where they have softened to below $20 psf. Even with published rates remaining level, landlords are still willing to grant significant rent concessions for new deals, and to blend and extend for renewal of existing tenants. The grocery category, including Winco and Sunflower Farmers markets is seeing the aforementioned continue to add locations along the Wasatch Front. Tight underwriting requirements and a cautious retail market has kept new retail development at a minimum. Without Malls Market SF Vacant SF Vacancy Northeast 4,546,313 290,065 6.38% Central East 4,991,564 490,195 9.82% Southeast 8,259,803 1,073,131 12.99% Northwest 876,650 54,639 6.23% Central West 6,508,954 615,468 9.46% Southwest 8,658,063 660,597 7.63% Total 33,841,347 3,184,095 9.41% Retail Market Overview by Type With Malls Market SF Vacant SF Vacancy Mall 3,211,724 242,082 7.54% Regional 6,713,041 615,373 9.17% Community 15,176,402 1,255,558 8.27% Neighborhood 7,508,007 725,530 9.66% Strip 4,443,897 587,634 13.22% Total 37,053,071 3,426,177 9.25% Without Malls Market SF Vacant SF Vacancy Mall - - - Regional 6,713,041 615,373 9.17% Community 15,176,402 1,255,558 8.27% Neighborhood 7,508,007 725,530 9.66% Strip 4,443,897 587,634 13.22% Total 33,841,347 3,184,095 9.41% Lease Rates by Sub-Market $12 $10 $8 $6 $4 $2 $0 NE CE SE NW CW SW Weighted Average Asking Lease Rates by Sub-Market Northeast $21.75 $22.37 $21.69 $22.24 $22.62 Central East $20.34 $19.17 $18.90 $17.93 $18.48 Southeast $20.29 $19.09 $18.58 $19.74 $19.13 Northwest $13.56 $13.56 $13.65 $13.67 $13.45 Central West $20.57 $19.80 $19.81 $19.18 $19.50 Southwest $24.77 $25.71 $24.50 $22.31 $18.34 Total $21.01 $20.60 $20.16 $19.89 $19.12 Retail Market Activity Report Tel 801.322.2000 comre.com REAL ESTATE SOLUTIONS COMRE.COM

Lease Rates by Type $35 $30 $25 $20 $15 $10 $5 $0 Q2 09 Q3 09 Q4 09 Q1 10 Regional Community Neighborhood Strip Q2 10 Weighted Average Asking Lease Rates by Type Regional $29.88 $30.40 $29.41 $28.15 $26.39 Community $19.78 $19.49 $19.07 $18.87 $18.17 Neighborhood $15.49 $13.54 $13.32 $14.50 $14.20 Strip $20.09 $19.76 $19.63 $19.28 $18.13 Total $21.01 $20.60 $20.16 $19.89 $19.12 Vacancy by Sub-Market 20% 15% 10% 5% 0% Q2 09 Q3 09 Mall Neighborhood Vacancy by Type 20% 15% 10% 5% 0% Q2 09 Q3 09 Mall Neighborhood Q4 09 Q1 10 Q2 10 Regional Community Strip Q4 09 Q1 10 Q2 10 Regional Community Strip Absorption by Sub-Market 100K 80K 60K 40K 20K 0-20K -40K -60K -80K -100K -120K Q1 / Q2 09 NE NW Q3 / Q4 2009 CE CW Q1 / Q2 2010 SE SW Vacancy by Sub-Market Northeast 7.15% 7.09% 7.39% 7.92% 8.60% Central East 8.60% 8.24% 7.18% 8.56% 8.36% Southeast 11.26% 10.86% 11.08% 11.43% 11.28% Northwest 5.81% 5.50% 5.65% 5.95% 6.23% Central West 8.46% 8.45% 8.60% 11.17% 10.06% Southwest 6.62% 6.43% 6.53% 8.69% 7.63% Total 8.50% 8.32% 8.29% 9.69% 9.25% Vacancy by Type Mall 5.08% 5.08% 5.08% 8.31% 7.54% Regional 8.12% 7.87% 8.12% 8.01% 9.17% Community 7.55% 7.26% 7.55% 8.45% 8.27% Neighborhood 9.18% 8.98% 9.18% 11.06% 9.66% Strip 13.64% 13.81% 13.64% 15.12% 13.22% Total 8.50% 8.32% 8.29% 9.69% 9.25% Absorption by Sub-Market Q1 / Q2 2009 Q3 / Q4 2009 Q1 / Q2 2010 Northeast -63,258-11,656-38,820 Central East 1,783 71,582-71,759 Southeast -74,135 17,103 28,154 Northwest 38,203 1,353-5,072 Central West -75,040 86,092-103,266 Southwest 82,894 42,858-94,820 Total -89,553 207,332-285,583 Commerce real estate solutions Retail Market Activity Report Salt Lake County Second Quarter 2010 comre.com

Absorption by Type 250K 200K 150K 100K 50K 0-50K -100K -150K -200K Q1 / Q2 2009 Q3 / Q4 2009 Mall Regional Neighborhood Strip Q1 / Q2 2010 Community Absorption by Type Q1 / Q2 2009 Q3 / Q4 2009 Q1 / Q2 2010 Mall 16,772 - -78,854 Regional -78,311 14,243-84,780 Community 14,830 217,190-155,491 Neighborhood -114,225 2,472-38,502 Strip 71,381-26,573 72,044 Total -89,553 207,332-285,583 New Construction by Sub-Market Q1 / Q2 2009 Q3 / Q4 2009 Q1 / Q2 2010 Northeast - - 20,516 Central East - - - Southeast - - 53,700 Northwest - - - Central West - 105,150 - Southwest 53,000 94,500 - Total 53,000 199,650 74,216 New Construction by Type Q1 / Q2 2009 Q3 / Q4 2009 Q1 / Q2 2010 Regional 53,000 - - Community - 189,000 53,700 Neighborhood - - - Strip - 10,650 20,516 Total 53,000 199,650 74,216 Notable Second Quarter Transactions Property Location Size Midvale Plaza 7200 South State Street (SWC) 25,000 SF 3485 South Main Street 3485 South Main Street 12,500 SF The Pony Express 12896 South Pony Express Road 8,300 SF Riverton Depot 13400 Bangerter Highway (NEC) 8,000 SF Sandy Village 9400 South 700 East (SEC) 6,287 SF Notes: Disclaimer: The enclosed information, while not guaranteed, has been secured from sources we believe to be reliable. Commerce Real Estate Solutions Copyright 2010 - All Rights Reserved Commerce real estate solutions Retail Market Activity Report Salt Lake County Second Quarter 2010 comre.com

Mid-Year 2010 Investment Market Activity Report Salt Lake Area Mid-Year 2010 Investment Market Overview - Mid-Year Total Sales Volume $145,427,013 Total SF and Units 2,052,438 SF and 360 Units Total Number of Transactions 46 As of mid year 2010, investment sales have declined 23% from 2009, and 69% from 2008 levels. Lower volumes can be attributed to both the restricted supply of commercial real estate debt capital and the unwillingness of owners to bring their properties to market while uncertainty and choppy market conditions reign. Cap Rates seem to be holding steady as compared to 2009. Individual and smaller investment partnerships, mostly local, make up the vast majority of active buyers completing deals. Significant capital is on the sideline trying to identify investment opportunities which meet their sponsor s investment criteria. Sales Volume Mid-Year $500M $400M $300M $200M $100M $0 2008 2009 2010 Sales Volume Mid-Year Category 2008 2009 2010 Apartment $267,671,250 $87,402,280 $22,905,500 Industrial $62,541,638 $46,598,837 $72,926,738 Office $60,724,300 $19,284,453 $12,905,275 Retail $65,747,003 $22,370,295 $35,989,500 Others * $8,017,000 $12,360,000 $700,000 Total $464,701,191 $188,015,865 $145,427,013 Transaction Volume Mid-Year 100 80 60 40 20 0 2008 2009 2010 Transaction Volume Category 2008 2009 2010 Apartment 32 19 12 Industrial 16 8 13 Office 17 6 9 Retail 28 13 11 Others * 6 5 1 Total 99 51 46 Average Sale Size Category 2008 2009 2010 Apartment $8,364,726 $4,600,120 $1,908,791 Industrial $3,908,852 $5,824,854 $5,609,749 Office $3,572,017 $3,214,075 $1,433,919 Retail $2,348,107 $1,720,791 $3,271,772 Others * $1,336,166 $2,472,000 $700,000 Investment Market Activity Report Tel 801.322.2000 comre.com REAL ESTATE SOLUTIONS COMRE.COM

Cap Rates 10% 9% 8% 7% Comparison of Cap Rates to Prior Years Category 2008 2009 2010 Apartment 6.62% 7.37% 8.39% Industrial 8.14% 8.30% 8.20% Office 7.84% 8.01% 8.21% Retail 7.98% 9.33% 8.17% Others * 7.11% 8.10% 8.30% 6% 2008 2009 2010 Apartment Industrial Office Retail Others 2010 Sales Volume Mid-Year List Price vs. Sale Price Category List Price Total Sale Price Total Percent Apartment $19,441,500 $17,740,500 91.25% Industrial $24,635,000 $20,173,000 81.89% Office $15,449,100 $11,805,275 76.41% Retail $36,669,000 $31,460,500 85.80% Others * $740,000 $700,000 94.59% Apartment Industrial Office Retail Other Data is from the Sales Volume Mid-Year table Square Feet / Units Category 2008 2009 2010 Apartment 3,376 UNITS 1,044 UNITS 360 UNITS Industrial 1,187,712 SF 1,024,234 SF 1,627,344 SF Office 504,903 SF 149,409 SF 177,210 SF Retail 556,461 SF 148,637 SF 247,884 SF Others * 737/0/65 1483/0/0 68/0/0 Total 2,249,076 SF 1,322,280 SF 2,052,438 Notable Mid-Year Transactions Property Location Size Reckitt Benckiser - Industrial 3226 Sheep Lane, Tooele 574,106 SF Draper Crossing 1 - Retail 62-64 East 12300 South, Draper 156,545 SF Sportsmans Warehouse - Industrial 9669 South Prosperity Road, West Jordan 363,654 SF Westlakes - Industrial 2440-2560 South 3600 West, West Valley 348,845 SF Notes: * OTHER INCLUDES STORAGE UNITS / MOBILE HOME SALES / HOTEL & MOTEL Market data for investment transaction includes all of Utah Disclaimer: The enclosed information, while not guaranteed, has been secured from sources we believe to be reliable. Commerce Real Estate Solutions Copyright 2010 - All Rights Reserved Commerce real estate solutions Investment Market Activity Report Salt Lake Area Mid-Year 2010 comre.com

Q2 2010 Utah County Market Activity Report Second Quarter 2010 Market Overview - Q2 2010 Total Office Inventory 8,877,693 SF Office Lease Rates PSF $12.00 NNN Avg. ($5.00 - $20.00) Office Vacancy 16.50% Office Cap Rate 8.5% Avg. (6% - 10%) Office Land Values PSF $6.00 Avg. ($3.00 - $10.00 PSF) Landlords across all property types have decreased rates to retain tenants and fill vacancies resulting in the lowest rates our market has seen in a decade. Provo has been the hardest hit sector of the market. Office Overview Vacancy is roughly the same as six months ago market-wide, but Provo has seen vacancies rise substantially while vacancies in Orem and most of the other market sectors have declined. New product that has entered the market i.e., Zions Bank tower has been slow to be absorbed. The addition to the market of Zion s downtown tower is a significant factor in Provo s increased vacancy percentage. Office Market Overview Lease Sublease Total SF Available SF Vacancy Available SF Vacancy Orem Class A 1,325,024 199,294 15.04% 32,117 2.42% Class B 657,088 89,458 13.61% 12,088 1.84% Condo 966,683 123,607 12.79% 0 0.00% Overall 2,948,795 412,359 13.98% 44,205 1.50% Provo Class A 1,192,473 364,659 30.58% 59,359 4.98% Class B 1,208,348 126,464 10.47% 33,555 2.78% Condo 548,208 100,605 18.35% 2,145 0.39% Overall 2,949,029 591,728 20.07% 95,059 3.22% Utah County North Class A 899,463 97,501 10.84% 21,206 2.36% Class B 1,270,646 136,876 10.77% 15,938 1.25% Condo 476,138 188,597 39.61% 3,536 0.74% Overall 2,646,247 422,974 15.98% 40,680 1.54% Utah County South Class A 6,400 0 0.00% 0 0.00% Class B 260,362 37,184 14.28% 5,800 2.23% Condo 66,860 950 1.42% 0 0.00% Overall 333,622 38,134 11.43% 5,800 1.74% Totals Class A 3,423,360 661,454 19.32% 112,682 3.29% Class B 3,396,444 389,982 11.48% 67,381 1.98% Condo 2,057,889 413,759 20.11% 5,681 0.28% Overall 8,877,693 1,465,195 16.50% 185,744 2.09% Utah County Market Activity Report Tel 801.377.2400 comre.com REAL ESTATE SOLUTIONS COMRE.COM

Industrial Total Inventory SF 15,566,301 Industrial Lease Rate PSF $0.41 NNN Avg. ($0.29 - $0.60) Industrial Vacancy 13.92% Industrial Cap Rate 8.5% Avg. (6.5% - 11.0%) Industrial Land Values PSF $4.00 Avg. ($2.00 - $6.00) Industrial Market Overview The vacancy rate has remained flat in the two largest sectors of the market, Provo and Orem, but has increased slightly in South County and almost doubled in North County. Modus Media, located in the North County sector, has continued to make space available in Lindon. That one large block of space availability has brought North County, which has historically been a low vacancy sector for industrial space, to vacancy levels similar to the rest of the county. Rates have dropped as pressure from vacancy continues, and landlords struggle to fill space. Total SF Available SF Vacancy Orem 3,736,909 389,043 10.41% Provo 2,679,384 331,084 12.36% Utah County North 4,914,234 701,604 14.28% Utah County South 4,235,774 745,218 17.59% Total 15,566,301 2,166,949 13.92% Retail Total Inventory SF 10,413,879 Retail Lease Rate PSF $14.00 NNN Avg.($8.00 - $28.00) Retail Vacancy 12.97% Retail Cap Rate 8% Avg. (6.0% - 10.0%) Land Values $9.00 Avg. ($7.00 - $16.00) Retail Market Overview Landlords are showing increased flexibility with rates and terms. Rates have declined substantially and more modified gross rate deals are being done. Vacancy rates seem to be leveling off in the market generally, but Provo s vacancy has increased by over seven percentage points while the other market sectors have declined slightly or been relatively flat. Retail rates have decreased in large centers and malls as well as in smaller strips. There have been several exciting new entrants into the market, notably, Winco, In-N-Out Burger and Smashburger, each with multiple new locations. Total SF Available SF Vacancy Orem 4,262,470 463,739 10.88% Provo 2,181,244 440,290 20.19% Utah County North 3,129,365 391,413 12.51% Utah County South 840,800 55,240 6.57% Total 10,413,879 1,350,682 12.97% Anchorless Strip 2,164,762 415,494 19.19% Neighborhood Center 1,944,814 127,242 6.54% Community Center 4,202,289 431,056 10.26% Mall Space 2,102,014 376,890 17.93% Total 10,413,879 1,350,682 12.97% Disclaimer: The enclosed information, while not guaranteed, has been secured from sources we believe to be reliable. Commerce Real Estate Solutions Copyright 2010 - All Rights Reserved Commerce real estate solutions Utah County Market Activity Report Second Quarter 2010 comre.com

Q2 2010 Weber County Market Activity Report Second Quarter 2010 Market Overview - Q2 2010 Office Vacancy 22.00% Office Lease Rates $13.56 - $15.84 PSF Industrial Vacancy 7.83% Industrial Average Lease Rate Industrial Average Sales Price $0.44 PSF $71.93 PSF Retail Vacancy 17.92% Retail Lease Rates Office Market Overview Class Total Market SF Surveyed $12.60 - $16.04 PSF Disclaimer: The enclosed information, while not guaranteed, has been secured from sources we believe to be reliable. Commerce Real Estate Solutions Copyright 2010 - All Rights Reserved Available SF Once again, the greater Ogden area was ranked among the top 10 best cities in America. Forbes.com ranked Ogden, number six in the nation for best places to raise a family. According to Forbes.com the best places for families are safe, affordable, and have a record of student achievement. Major redevelopment is currently underway on Wall Avenue in Ogden with the opening of the new Winco on 12th Street and the upcoming development of the Wal-Mart Super Center on 20th Street. We anticipate positive growth in the retail market the next 12 months as pads are developed and tenants move into the areas surrounding these projects. With the overall office vacancy rate at 22% there are plenty of options for office tenants looking to relocate or upgrade their space. Although the vacancy rate remains relatively high, it is at its lowest point in two years. Asking lease rates and sales prices remain stable in the industrial market. SBA lending has spurred sales of owner/user buildings in the Ogden Industrial Park. Business Depot Ogden has substantially reduced their vacancy rate over the last six months. Vacancy Overall Average Full Service Low Rate Overall Average Full Service High Rate Class A 1,182,326 201,956 17.08% $17.40 $21.48 Class B 939,672 226,181 24.07% $12.89 $15.96 Class C 422,245 131,607 31.17% $10.92 $12.31 Total 2,544,243 559,744 22.00% $13.56 $15.84 Industrial Market Overview Type Total Market SF Surveyed Available SF Vacancy Overall Average Overall Average Asking Sale Prices Asking Lease Rate Per SF 0-5,000 684,790 37,688 5.50% $0.49 $120.35 5,001-20,000 4,780,752 231,943 4.85% $0.49 $81.58 20,001-50,000 5,283,212 407,690 7.72% $0.38 $45.00 50,001-Up 21,132,705 1,817,676 8.60% $0.31 $34.95 Total 31,881,459 2,494,997 7.83% $0.44 $71.93 BDO - Business Depot Ogden Available SF 968,031 Total SF 6,642,260 Vacancy 14.57% Retail Market Overview Type Total Market SF Surveyed Available SF Vacancy Overall Average Low Rate Overall Average High Rate Overall Average CAMS Regional Mall 726,729 95,596 13.15% $9.00 $20.00 N/A Regional Center 1,690,403 236,996 14.02% $12.00 $22.00 $3.50 Community 1,447,731 338,203 23.36% $11.20 $16.33 $3.37 Neighborhood 1,088,865 156,598 14.38% $14.20 $17.42 $3.08 Anchorless Strip 793,249 202,613 25.54% $13.14 $14.78 $2.80 Total 5,746,977 1,030,006 17.92% $12.60 $16.04 $3.02 Weber County Market Activity Report Tel 801.525.3000 comre.com REAL ESTATE SOLUTIONS COMRE.COM

Q2 2010 Davis County Market Activity Report Second Quarter 2010 Market Overview - Q2 2010 Office Vacancy 17.17% Office Lease Rates $12.97 - $16.21 PSF Industrial Vacancy 8.93% Industrial Average Lease Rate Industrial Average Sales Price $0.51 PSF $86.89 PSF Retail Vacancy 10.43% Retail Lease Rates $12.70 - $15.80 PSF Disclaimer: The enclosed information, while not guaranteed, has been secured from sources we believe to be reliable. Commerce Real Estate Solutions Copyright 2010 - All Rights Reserved Concessions are being made in all sectors by landlords to lure tenants into the marketplace. Concessions include free rent, reduced lease rates, tenant improvements, and creative deal structures. The retail market is stable with the overall vacancy rate hovering at approximately 10% throughout the past two years. Over the last 12 months very little change has occurred in office lease and vacancy rates. Very little new space is expected in the next six months indicating that landlords and developers are focused on filling up current vacant space. Over the first half of 2010 we have seen a slight increase in the total number of industrial transactions compared to the first half of 2009. The overall industrial vacancy is declining, which appears to be attributed to the lack of new industrial buildings coming on the market. Lease rates and sales prices are softening as the number of active tenants and buyers are increasing. Office Market Overview Class Total Market SF Surveyed Available SF Vacancy Overall Average Full Service Low Rate Overall Average Full Service High Rate Class A 676,358 88,735 13.12% $15.00 $19.90 Class B 1,167,637 216,555 18.55% $14.17 $16.48 Class C 652,335 123,243 18.89% $11.60 $14.32 Total 2,496,330 428,533 17.17% $12.97 $16.21 Industrial Market Overview Type Total Market SF Surveyed Available SF Vacancy Overall Average Overall Average Asking Sale Prices Asking Lease Rate Per SF 0-5,000 334,335 31,318 9.37% $0.54 $101.76 5,001-20,000 4,327,545 359,802 8.31% $0.50 $88.81 20,001-50,000 5,016,098 393,429 7.84% $0.38 $86.44 50,001-Up 16,322,804 1,537,012 9.42% $0.27 $30.00 Total 26,000,782 2,321,561 8.93% $0.51 $86.89 Freeport Center Available SF 100,000 Total SF 7,009,398 Vacancy 1.43% Freeport West Available SF 319,200 Total SF 1,019,250 Vacancy 31.32% Retail Market Overview Type Total Market SF Surveyed Available SF Vacancy Overall Average Low Rate Overall Average High Rate Overall Average CAMS Regional Mall 750,000 99,500 13.27% n/a n/a n/a Regional Center 846,367 4,697 0.55% $20.00 $26.50 $3.75 Community 3,648,945 361,875 9.92% $11.31 $17.00 $2.95 Neighborhood 1,144,264 86,843 7.59% $11.70 $14.70 $2.90 Anchorless Strip 1,025,232 220,569 21.51% $13.21 $15.18 $3.16 Total 7,414,808 773,484 10.43% $12.70 $15.80 $3.11 Davis County Market Activity Report Tel 801.525.3000 comre.com REAL ESTATE SOLUTIONS COMRE.COM

Q2 2010 Washington County Market Activity Report Second Quarter 2010 Market Overview - Q2 2010 Although the Washington County market continued to correct over the first two quarters in 2010, we are beginning to see some positive signs come back into the market. Several mid-sized and a few large sized industrial users are currently negotiating or have secured lease deals. The medical office submarket continues to show signs of strength and is the only category witnessing significant new construction. Anchored retail and fast food categories continue to outperform other retail property segments. While this is encouraging news, we will continue to see some downward pricing and lease rate pressure from bank owned and REO properties coming on the market. We continue to witness uncertainty over both the economy and our current political policies. As this begins to ease up, we expect a gradual recovery with businesses once again attracted to the vibrant Washington County market. Office Total Inventory SF 2,211,724 Office Lease Rate per SF $6.00 - $14.40 NNN Office Vacancy 14.2% Office Cap Rate 9.0% - 11.0% Office Land Values PSF $6.00 - $14.00 Office Under Construction SF 15,000 Vacancy is up from 13.6% to 14.2%. Mean asking lease rates are down from $0.99/SF NNN to $0.83/SF NNN. Construction remains at or near standstill. Strong tenants are moving to Class A space. The medical office submarket remains strong and is the most active. Industrial Total Inventory SF 7,917,956 Industrial Lease Rate per SF $3.00 - $6.00 Industrial Vacancy 16.00% Industrial Cap Rate 8.5% - 10.5% Industrial Land Values PSF $2.25 - $4.50 The Washington County industrial vacancy rate trend improved considerably compared to 2008 and 2009 increases, edging up only one-half of a percent during the last two quarters. In town industrial properties, including St. George Industrial Park and Millcreek, fared the best over the last two quarters and actually saw vacancy rates come down. As expected, new industrial construction has come to a near halt as the market consumes the current inventory and the lending market remains constrained. Retail Total Inventory SF 4,933,839 Retail Lease Rates PSF $8.20 - $24.00 Retail Vacancy 12.84% Retail Cap Rate 8.5% - 10.5% Retail Land Values PSF $8.00 - $16.00 The Washington County retail market is still trying to establish a solid footing. The vacancy rate eased up one percentage point in the last six months. Anchor tenant properties continue to outperform anchorless properties enjoying both significantly higher lease rates and substantially lower vacancy rates. During the first half of 2010, new construction has slowed considerably with only 14,000 sf of new retail construction being added to the market. Some national credit tenants are starting to once again take notice of St. George s retail market Disclaimer: The enclosed information, while not guaranteed, has been secured from sources we believe to be reliable. Commerce Real Estate Solutions Copyright 2010 - All Rights Reserved Washington County Market Activity Report tel 435.673.7111 comre.com REAL ESTATE SOLUTIONS COMRE.COM