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Commercial Real Estate Outlook IRR-Viewpoint 2010

Commercial Real Estate Outlook IRR-Viewpoint 2010. Industrial The Best, The Worst and The Local Market. Top Three Markets By Vacancy… Los Angeles, CA – 4.92% Orange County, CA – 6.58% Seattle, WA – 6.70% Local Market… 50. Charlotte, NC – 14.26% (3Q 2009);14.70% (1Q 2010-NA )

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Commercial Real Estate Outlook IRR-Viewpoint 2010

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  1. Commercial Real Estate OutlookIRR-Viewpoint 2010

  2. IndustrialThe Best, The Worst and The Local Market Top Three Markets By Vacancy… • Los Angeles, CA – 4.92% • Orange County, CA – 6.58% • Seattle, WA – 6.70% Local Market… 50. Charlotte, NC – 14.26% (3Q 2009);14.70% (1Q 2010-NA) …and the Bottom Three Markets 54. Austin, TX – 18.40% 55. Boston, MA – 24.76% 56. Louisville, KY – 26.01%

  3. Industrial Market Pricing

  4. Industrial – Overall Capitalization Rates Korpacz – Second Quarter 2010 –Investor Survey • Realty Rates.com – Second Quarter 2010- Investor Survey • Industrial - 9.59%

  5. ApartmentThe Best, The Worst and The Local Market Top Three Markets By Vacancy… • San Francisco, CA – 3.59% • Syracuse – 3.94% • New York City – 4.80% Local Market… 49. Charlotte – 11.64% (3Q–2009);13.6% (1Q 2010) …and the Bottom Three Markets 54. Phoenix – 12.97% 55. Naples/Ft. Myers – 13.37% 56. Providence – 14.11%

  6. Apartment Market Pricing

  7. Apartment – Overall Capitalization Rates Korpacz – Second Quarter 2010 –Investor Survey • Realty Rates.com – Second Quarter 2010- Investor Survey • Retail – 9.50% Average

  8. Office Market Cycle

  9. Office – CBD The Best, The Worst and The Local Market Top Three Markets By Vacancy… • Charlotte, NC – 6.43% • Boise, ID – 8.10% • Memphis, TN – 8.70% Local Market… 1. Charlotte, NC – 6.43% (3Q–2009); 12.0% (1Q-2010) …and the Bottom Three Markets 54. San Jose, CA – 23.90% 55. Detroit, MI – 25.00% 56. Dayton, OH – 26.00%

  10. Office – Suburban The Best, The Worst and The Local Market Top Three Markets By Vacancy… • Dayton, OH – 10.88% • Pittsburgh, PA – 11.09% • Los Angeles, CA – 11.30% Local Market… 41. Charlotte, NC – 19.07% (3Q–2009);19.77% (1Q–2010) …and the Bottom Three Markets 54. Detroit, MI – 23.89% 55. Phoenix, AZ – 27.41% 56. Hartford, CT – 29.45%

  11. Office Market Pricing

  12. Office – Overall Capitalization Rates Korpacz – Second Quarter 2010 –Investor Survey • Realty Rates.com – Second Quarter 2010- Investor Survey • Office – 9.48% Average

  13. Retail Market Cycle

  14. RetailThe Best, The Worst and The Local Market Top Three Markets By Vacancy… • San Francisco, CA – 3.08% • Los Angeles, CA – 4.87% • San Jose, CA – 5.03% Local Market… 12. Charlotte, NC – 6.77% (3Q–2009); 8.0% (4Q–2009) …and the Bottom Three Markets 54. Providence, RI – 17.00% 55. Dayton, OH – 17.30% 56. Detroit, MI – 17.35%

  15. Retail Market Pricing

  16. Retail – Overall Capitalization Rates Korpacz – Second Quarter 2010 –Investor Survey • Realty Rates.com – Second Quarter 2010- Investor Survey • Retail – 9.50% Average

  17. Recent Development in Capitalization Rates Korpacz Survey data for investment grade property and our analysis are presented in the following table:

  18. Recent Development in Capitalization Rates Korpacz Survey data for non-investment grade property and our analysis are presented in the following table:

  19. Real Estate Listing Sources – For Sale & For Lease • Loopnet http://www.loopnet.com/ • Edis http://www.nccommerce.com/en/BusinessServices/LocateYourBusiness/BuildingsAndSites/ (N.C. Department of Commerce Buildings & Sites EDIS) • Mecklenburg County Real Estate Lookup http://meckcama.co.mecklenburg.nc.us/relookup/ (Market Analysis Link) • National & Local Brokerage Firms • Apartment Realty Advisorshttp://www.arausa.com/Index.cfm • CB Richard Ellis (CBRE) http://www.cbre.com/EN/Pages/default.aspx • Sperry Van Nesshttp://www.svn.com/ • Lincoln Harris CSGhttp://www.lincolnharris.com/Home/ • The Stump Corporationhttp://www.stumpnet.com/ • Marcus & Millichamp http://www.marcusmillichap.com/ • NAIGLOBAL http://www.naiglobal.com/

  20. National Real Estate Surveys • IRR.com (Viewpoint – Real Estate Value Trends) • Marcus & Millchap.com • NAIGLOBAL • www.pwc.com (Korpacz Real Estate Investor Survey) • ACLI(American Council of Life Insurers) • Realty Rates.com(Developer Surveys, Financial Indicators, Market Surveys, Investor Surveys)

  21. Vacancy and Rental Rate Surveys - SUBSCRIPTION • Karnes (Office, Retail and Industrial) • Real Data (Apartments) • REIS

  22. Real Estate Sales - SUBSCRIPTION • Costar • REIS • Real Capital Analytics http://www.rcanalytics.com/

  23. Integra Realty ResourcesNation’s Largest Valuationand Counseling Firm 59 Offices in 33 states, plus DC and Mexico Over 800 Consultants & Advisors 150+ MAIs company-wide

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