May 15, 2013

1. The State of Colorado’s Front Range Economy Self Storage Forecast Colorado Self Storage Association’s 2013 Spring Meeting & Trade Show Economic & Market Research / Land & Development Planning Landscape Architecture / Community Planning & Design Golf Feasibility Analysis THK Associates, Inc. May 15, 2013

2. Colorado’s Front Range • Approximately 4.1 Million People in 1.6 Million Households • Of Which 2.6 Million People Employed

3. Colorado’s Front Range Historical 10-Year Annual Totals 27,700 Jobs 58,500 People 28,000 Households Employment growth only 7,000 employees past 5 years 25% of average 10-Year ProjectionsAnnual Totals • 42,200 Jobs • 66,000 People • 26,700 Households

4. Colorado’s Front Range Residential Construction 19,000 Total Residential Permits Issued in 2012 10-Year Average 22,800 2012 Total 83% of 10-Year Average

5. Colorado vs. National Self Storage Market VS.

6. Front Range Self Storage Market

7. Front Range Self Storage Market

8. Colorado Springs/El Paso County • Approximately 639,300 People in 242,500 Households • Of Which 367,000 Million People Employed

9. Colorado Springs/El Paso County Employment 10-Year ProjectionsAnnual Totals 10-Year Average 3,260 Jobs 5-Year Average 340 Jobs 2012 Added 1,500 Jobs 2011 Added 6,300 Jobs • 5,500 Jobs • 9,500 People • 4,000 Households

10. Colorado Springs/El Paso County Residential Construction 2,620 Total Residential Permits Issued in 2012 2,020 or 78% for Single Family Homes 10-Year Residential Permit Average 3,880 10-Year Residential Demand 4,420 Units Annually 3,100 Single Family (70%) 380 Townhome (8.5%) 940 Multi Family (21.5%)

11. Colorado Springs/El Paso County Hot Spots/Opportunities In-fill, Downtown and Key I-25 Interchanges Student Housing Multi Family Rental Affordable Single Family

12. Average Annual Demand for 1.7 New Facilities Total Demand for 19.1 New Facilities by the End of 2023 Based on Average Facility Size of 57,376 Sq. Ft.

13. Metro Denver 7-County Region • Approximately 2.92 Million People in 1.16 Million Households • Of Which 1.92 Million People Employed

14. Metro Denver 7-County Region Employment 10-Year ProjectionsAnnual Totals 10-Year Average 20,138 Jobs 5-Year Average 8,862 Jobs 2012 Estimates 24,000 – 37,000 Jobs • 29,000 Jobs • 45,000 People • 18,000 Households

15. Metro Denver 7-County Region Residential Construction 14,300 Total Residential Permits Issued in 2012 6,200 or 43% for Single Family Homes 10-Year Residential Permit Average 14,500 10-Year Residential Demand 18,500 Units Annually 10,800 Single Family (58%) 2,700 Townhome (15%) 5,000 Multi Family (27%)

16. Leading Sectors Denver Metro Area Overview Finance & Insurance Health Care Government Professional & Technical Services Major Announcements Charles Schwab Redwood Trust Hitachi Data Systems Tri Zetto On Deck Capital Cool Planet Energy Systems

17. Proposed FasTracks Lines • 94 Total Stops • 46 Completed • 48 Planned

18. Denver FasTracks TOD • Projects That Are Complete or Currently Under Construction Source: RTD FasTracks

19. Denver In-Fill Downtown • Downtown Denver Partnership • 72 Public & Private Sector Developments in the Past 5 Years • 6,061 Residential Units Added/Under Construction • 2.36 Million Sq. Ft. Office Space Added/Under Construction • 2,190 Hotel Rooms Added/Under Construction • 42% of Projects Residential

20. New Denver Area Hospitals • Sky Ridge – Highlands Ranch • Parker Adventist – Parker • Fitzsimons Campus – Aurora • University Hospital • Children’s Hospital • Veteran’s Hospital • St. Anthony Hospital at the Federal Center – Denver • Castle Rock Hospital at the Meadows – Castle Rock • Northern Hospital Cluster along Hwy 7 & I-25 – Broomfield • Rocky Vista Hospital – Parker • Platte Valley Medical Center – Brighton • Longmont United Hospital – Longmont • Children’s Hospital at Highland’s Ranch • University North/Poudre

21. Average Annual Demand for 5.5 New Facilities Total Demand for 82.0 New Facilities by the End of 2023 Based on Average Facility Size of 60,226 Sq. Ft.

22. Larimer/Weld County Region • Approximately 567,200 People in 215,500 Households • Of Which 350,000 People Employed

23. Larimer/Weld County Region Employment 10-Year ProjectionsAnnual Totals 10-Year Average 4,330 Jobs 5-Year Average (2,600) Jobs 2012 Added 3,200 Jobs 2011 Added 3,000 Jobs • 7,700 Jobs • 11,500 People • 4,730 Households

24. Larimer/Weld County Region Opportunities in the Niobrara Formation Colorado Produced a 50-Year High in Oil Production in 2012 Major Oil Company Corridor Follows Highway 85 North of Brighton Major Companies Involved Anadarko, Noble, EOG, Chesapeake, Halliburton, Schlumberger, Baker Hughes, etc. Estimates Call for Approximately 1,000 Wells to be Drilled Each Year for the Next 10 – 30 Years

25. Larimer/Weld County Region Residential Construction 2,100 Total Residential Permits Issued in 2012 1,560 or 75% for Single Family Homes 10-Year Residential Permit Average 4,515 10-Year Residential Demand 5,000 Units Annually 3,600 Single Family (70%) 200 Townhome (5%) 1,200 Multi Family (25%)

26. Larimer/Weld County Region Hot Spots/Opportunities Highway 85 Corridor Brighton, Fort Lupton, Greeley Harmony Medical Corridor Windsor Frederick, Firestone, Dacono Fort Collins, Rental & In-Fill Timnath

27. Average Annual Demand for 2.0 New Facilities • Total Demand for 25.7 New Facilities by the End of 2023 • Based on Average Facility Size of 43,839 Sq. Ft.

28. Front Range Self Storage Hot Spots • Denver CBD • Union Station • Highlands/Jefferson Park • RidgeGate, Parker & Castle Rock • South Aurora • Hwy 85 Corridor • Brighton to Greeley • Harmony Medical Corridor • Central Boulder • Colorado Springs CBD • Woodmen Rd/Falcon Corridor • Powers Blvd (Hospital Corridor) • Central Pueblo • Pueblo West

29. Daniel M. ConwayPresident