1. OFFICE
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2. Office Fundamentals 2.95 MM SF Forecasted Absorption
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3.61 MM SF Absorbed

3. Projected Length of Office Supply
Current Available SF: Million
Annual Absorption 2018: 3.61 Million SF
Projected Length of Supply: 8.3 years
Avg. Annual Absorption (forecast): 2.43 Million SF
Projected Length of Supply: 12.3 years
C:\Users\mpetrivelli\Desktop\MP Copy of 19Q1 RET BB Template V1.xlsx
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4. Average Office Rental Rate
C:\Users\mpetrivelli\Desktop\MP Copy of 19Q1 RET BB Template V1.xlsx
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Source: CoStar
As of 1/10/2019

5. 3.1 Million SF of Office Space Under Construction
3.1 Million SF Under Construction
C:\Users\mpetrivelli\Desktop\MP Copy of 19Q1 OFF BB Template V1.xlsx
Notes 18Q4:
Source: CoStar
* Building height denotes RBA As of 1/10/2019

6. Phoenix Office Sales Volume And Pricing
2018: 1,003 Transactions
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7. INDUSTRIAL
C:\Users\mpetrivelli\Desktop\MP Copy of 19Q1 RET BB Template V1.xlsx
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8. Industrial Fundamentals
6.2 MM SF Forecasted Absorption
7.9 MM SF Absorbed
C:\Users\mpetrivelli\Desktop\MP copy 19Q1 Ind BB Template V1.xlsx
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9. Projected Length of Retail Supply
Current Available SF: 35 Million SF
Annual Absorption 2018: 7.9 Million SF
Projected Length of Supply: 4.4 years
Avg. Annual Absorption (forecast): 5.24 Million SF
Projected Length of Supply: 6.7 years
C:\Users\mpetrivelli\Desktop\MP Copy of 19Q1 RET BB Template V1.xlsx
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10. Average Industrial Rental Rate
C:\Users\mpetrivelli\Desktop\MP Copy of 19Q1 RET BB Template V1.xlsx
Notes 18Q4:
Source: CoStar
As of 1/10/2019

11. 5.6 Million SF of Industrial Space Under Construction
5.6 Million SF Under Construction
C:\Users\mpetrivelli\Desktop\MP Copy of 19Q1 OFF BB Template V1.xlsx
Notes 18Q4:
Source: CoStar
* Building height denotes RBA As of 1/10/2019

12. Phoenix Industrial Sales Volume And Pricing
2018: 947 Transactions
C:\Users\mpetrivelli\Desktop\MP copy 19Q1 Ind BB Template V1.xlsx
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13. RETAIL
C:\Users\mpetrivelli\Desktop\MP Copy of 19Q1 RET BB Template V1.xlsx
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14. Retail Fundamentals 1.49 MM SF Forecasted Absorption
C:\Users\mpetrivelli\Desktop\MP Copy of 19Q1 RET BB Template V1.xlsx
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2.64 MM SF Absorbed

15. Projected Length of Retail Supply
Current Available SF: Million SF
Annual Absorption 2018: 2.64 Million SF
Projected Length of Supply: 7.5 years
Avg. Annual Absorption (forecast): 1.21 Million SF
Projected Length of Supply: 16.4 years
C:\Users\mpetrivelli\Desktop\MP Copy of 19Q1 RET BB Template V1.xlsx
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16. Average Retail Rental Rate
C:\Users\mpetrivelli\Desktop\MP Copy of 19Q1 RET BB Template V1.xlsx
Notes 18Q4:
Source: CoStar
As of 1/10/2019

17. Average Rental Rate (NNN)
Retail Rents
Class Type
Average Rental Rate (NNN)
Box Space (10K-250K SF)
$14.60/SF/YR
Class A
$23.36/SF/YR
Class B
$18.02/SF/YR
Class C
$14.87/SF/YR
C:\Users\mpetrivelli\Desktop\MP Copy of 19Q1 RET BB Template V1.xlsx
Notes 18Q4:
Source: CoStar
As of 1/23/2019

18. 622,000 SF of Retail Space Under Construction
630,000 SF Under Construction
C:\Users\mpetrivelli\Desktop\MP Copy of 19Q1 OFF BB Template V1.xlsx
Notes 18Q4:
Source: CoStar
* Building height denotes RBA As of 1/10/2019

19. Phoenix Retail Sales Volume And Pricing
2018: 1,074 Transactions
C:\Users\mpetrivelli\Desktop\MP Copy of 19Q1 RET BB Template V1.xlsx
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20. Retail Sales Asset Type Sales Volume Average Price Per SF
Single Tenant
$760 Million
$223
Multi-Tenant
$1.1 Billion
$165
C:\Users\mpetrivelli\Desktop\MP Copy of 19Q1 RET BB Template V1.xlsx
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Source: CoStar
As of 1/23/2019

21. MULTIFAMILY
C:\Users\mpetrivelli\Desktop\MP Copy of 19Q1 RET BB Template V1.xlsx
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22. Phoenix Annual Multifamily Transactions
C:\Users\mpetrivelli\Desktop\MP Copy of 19Q1 RET BB Template V1.xlsx
Notes 18Q4:
Source: CoStar
As of 1/10/2019

23. Phoenix Multifamily Sales Volume And Pricing
$147,000/Unit
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24. Phoenix Average Transactional Cap Rate By Property Type
C:\Users\mpetrivelli\Desktop\MP Copy of 19Q1 APT BB Template V1.xlsx