1. 2016 TULSA MARKET UPDATE IREM Conference FEBRUARY 2016

2. 30,762,986 Total RSF in the Tulsa Office Market QUICK STATS 369 Total Properties in 7 Submarkets Square Footage Breakdown by Class *Inventory expanded in 2015 to include 10,000+ RSF buildings

3. 3 IREM | 2016 OUTLOOK CBRE VACANCY 2015 Vacancy by Class Overall Historical Vacancy  Class A vacancy still near historic low at 4.1%  53% or 1.7mm SF of class B vacancy in CityPlex, Eastgate, First Place Tower & Verizon Campus

4. 4 IREM | 2016 OUTLOOK CBRE $ $ $ ASKING RATES Overall Historical Asking Rate (Class A – $19.61)

5. 5 IREM | 2016 OUTLOOK CBRE NET ABSORPTION Overall Historical Net Absorption  Cimarex expands to new building  Magellan expands by 40k SF  St John’s leases former HSBC Building in East Tulsa  One Gas lease in CBD  Enterprise moves into Eastgate  Ross Group, Hogan Assessments & Eide Bailly move to CBD  Kinder Morgan occupies new GeoPhysical Building

6. 6 IREM | 2016 OUTLOOK CBRE Overall Historical Construction CONSTRUCTION  American Plaza  Utica Place  Cimarex  Unit Corp  Geophysical  Girl Scouts  First Oklahoma Bank  Eastgate Dillard’s Building  8:10 Building  QuikTrip  Melton Truck Lines  Hogan  Gateway Mortgage

7. 7 IREM | 2016 OUTLOOK CBRE What’s Next KEEP YOUR TABLE WITHIN THE GUIDES CompanyProperty Square FeetSector McJunkinMcJunkin Red Man Plaza10,400 SFEnergy/Industrial Distributor Kinder MorganBoulder Towers12,847 SFEnergy Apex Remington PipeExchange Center West13,597 SFEnergy/Industrial Distributor First Title5707 E 71st St15,000 SFFinancial Enable MidstreamFirst Place Tower15,300 SFEnergy Eide BaillyHarvard Center15,920 SFFinancial DCPTwo Warren Place21,261 SFEnergy Halcon/RamMeridian Tower21,308 SFEnergy AecomOne Memorial25,801 SFEnergy ApacheTwo Warren Place26,000 SFEnergy QEPOne Warren Place71,582 SFEnergy Road ScienceRoad Science Building109,508 SFTransportation Technologies Total358,524 SF Sublease Space Available Over 10,000 Square Feet

8. 8 IREM | 2016 OUTLOOK CBRE Who’s Next?  Tracking 457,000 SF of office user demand in the market  100,000 SF of total = Energy related users

9. 9 IREM | 2016 OUTLOOK CBRE USER TRENDS: EVOLVING SPACES AND LEASE TERMS Co-working/ Collaborative Spaces Shrinking Footprints Shorter Term Renewals (Due to economic climate and GAAP accounting changes)

10. 10 IREM | 2016 OUTLOOK CBRE COMING SOON: UNIVERSAL FORD & FOX HOTEL BUILDING  $16 Million Renovation  31 Apartment Units  11,500 SF now 36 Degrees North: A entrepreneurial hub and resource center.  5,000 SF of Office Space above Tavern on Brady.  5,000 SF restaurant and brew pub.

11. 11 IREM | 2016 OUTLOOK CBRE COMING SOON: THE HARTFORD BUILDING  128 apartment units  322,000 Total SF  118,800 SF – Residential  29,700 SF – Retail  15,273 SF – Office

12. 12 IREM | 2016 OUTLOOK CBRE COMING SOON: KSQ ARCHITECTS & BREWPUB  $5.2 Million Development  28,000 SF Total  14,000 SF 2nd Floor – KSQ Architect  8,500 SF Brew pub – McNellie’s Group & Marshall Brewing Company  4,500 additional SF to be leased out  Summer 2016 completion date

13. 13 IREM | 2016 OUTLOOK CBRE COMING SOON: SANTA FE SQUARE  600,000 SF Project  291 apartment units  105 room hotel  80,000 SF lower floor Retail space  157,850 upper floor office space (22,550 SF Floor Plates)  1,450 space parking garage  September 2017 completion date

14. THANK YOU MATT REESE, CCIM ASSOCIATE +1 918 392 7261 MATT.REESE@CBRE.COM