Industrial 2001—2009

7,000 12% 250,000,000

Industrial Transactions & Avg Cap Rate Industrial Absorption
6,000 10% 200,000,000
5,000
8% 150,000,000
4,000
6% 100,000,000
3,000
4% 50,000,000
2,000
1,000 2% 0
0 0% 01' 02' 03' 04' 05' 06' 07' 08' 09'
-50,000,000

Trans 01' 02' 03' 04' 05' 06' 07' 08' 09' CAP -100,000,000

Source: Real Capital Analytics Source: CoStar (Flex & Warehouse combined)

$60,000 $100 $8.00 12%

Industrial Volume & Price/SF Industrial Rental & Vacancy Rates
$50,000 $80 10%
$6.00
$40,000 8%
$60
$30,000 $4.00 6%
$40
$20,000 4%
$2.00
$10,000 $20 2%

$0 $0 $0.00 0%
Millions 01' 02' 03' 04' 05' 06' 07' 08' 09' P/SF Rental
01' 02' 03' 04' 05' 06' 07' 08' 09' Vacancy
Source: Real Capital Analytics Source: CoStar (Flex & Warehouse combined)

Significant Transactions: Flex

Name City, ST SF Price $/SF Buyer Year
Dallas Market Center Dallas, TX 4,800,000 $249,000,000 $52 CNL Income Properties 2005
Sun Microsystems Cmplx Burlington, MA 805,000 $212,000,000 $263 Nordic Properties 2007
Sunset Gower Studios Los Angeles, CA 415,000 $205,000,000 $493 Hudson Capital 2007
San Diego Tech Center San Diego, CA 647,000 $185,000,000 $286 Maguire Properties 2005
Northlake Data Center Melrose Park, IL 700,000 $181,000,000 $259 Microsoft 2009

Significant Transactions: Warehouse

Pfizer La Jolla Campus La Jolla, CA 770,000 $372,000,000 $483 Pfizer Corp 2004
Metro Chicago Chicago, IL 3,743,211 $231,000,000 $62 RREEF Funds 2005
Pacific Gateway Ctr Torrance, CA 1,252,708 $195,000,000 $156 Prudential RE Investors 2006
Chino South Business Park Chino, CA 1,807,421 $147,000,000 $81 John Hancock Insurance Co 2008
110-112 Hidden Lake Duncan, SC 786,778 $135,000,000 $171 Lexington Corp Prop. Trust 2005
Source: Real Capital Analytics

View next page for a breakdown of the Industrial Sector by year

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Industrial Breakdown

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