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Adding value through market research Phoenix . Q1 2013 Your partner in commercial real estate

Adding value through market research Phoenix . Q1 2013 Your partner in commercial real estate. Mark Detmer , SIOR, CCIM Managing Director +1 602 282 6289 Cell +1 602 448 0900 mark.detmer@am.jll.com. Phoenix Metropolitan Area Population Growth vs. Industrial RBA 1999 – 2016 Forecast.

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Adding value through market research Phoenix . Q1 2013 Your partner in commercial real estate

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  1. Adding value through market research Phoenix . Q1 2013 Your partner in commercial real estate Mark Detmer, SIOR, CCIM Managing Director +1 602 282 6289Cell +1 602 448 0900 mark.detmer@am.jll.com

  2. Phoenix Metropolitan Area Population Growth vs. Industrial RBA 1999 – 2016 Forecast Industrial RBA (in thousands) Population (in thousands) Forecast 5.4 million 100,000 = +354,100 people +19 million square feet square feet people Source: U.S. Bureau of Census, Moody’s Analytics, Jones Lang LaSalle Research

  3. Phoenix Metropolitan Area Total Employment – Non-Farm Jobs Count from 1990 – 2016 Forecast Jobs (in thousands) 30% Forecast +170,000 jobs +76,600 industrial jobs Industrial Employment Source: U.S. Bureau of Labor Statistics, Moody’s Analytics, Jones Lang LaSalle Research

  4. Phoenix Metropolitan Area Industrial Completions & Net Absorption vs. Market Vacancy & Job Growth Square Feet (in thousands) Source: Jones Lang LaSalle Research

  5. Phoenix Metropolitan Area Industrial Developments • Construction in progress (100,000 s.f.+) Image Not Available • FAB 42 (Intel Corporation) • 1,000,000 s.f. – est. delivery Q1 2013 • EstrellaLogistics Center • 593,600 s.f. – est. delivery Q2 2013 • TJX Distribution – ProLogis Park • 1,200,000 s.f. – est. delivery Q2 2013 • Living Spaces • 435,000 s.f. – est. delivery Q2 2014 • Southwest Products • 164,000 s.f. – est. delivery Q4 2013 • Coldwater Depot Logistics Center • 600,000 s.f. – est. delivery Q2 2013 • 4550 Watkins Street • 313,600 s.f. – est. delivery Q2 2013 • 43rd Avenue Logistics Center • 394,775 s.f. – est. delivery Q4 2013 • ProLogis Park Riverside • 486,000 s.f. – est. delivery Q2 2013 • Intel Chandler • 285,000 s.f. – est. delivery Q3 2014 Construction completed – First Quarter 2013 5.5 million square feet under construction Project Green Box 130,000 s.f. – Delivered Q1 2013 Elliot Business Park Building 5 158,000 s.f. – Delivered Q1 2013 Elliot Business Park – Building 6 158,000 s.f. – Delivered Q1 2013

  6. Phoenix Metropolitan Area Tenants in the Market 2,140,000 sf Currently tracking 1,975,000 sf 1,464,000 sf 1,325,000 sf 750,000 sf 530,000 sf 16.4 million 0 0 9 4 5 5 1 1 square feet of requirements 4Q | 2013 2Q | 2013 2Q | 2014 3Q | 2014 4Q | 2014 1Q | 2015 1Q | 2014 3Q | 2013 Absorption Forecast

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