1. Industrial Market Vacancy Rate YearYear End Vacancy 200319.2% 200413.7% 200512% 200611.5% Source: Karnes Industrial Report

2. Warehouse Completions YearSquare Feet 200367,800 2004283,486 2005482,900 20061,189,000 (* 1,265,000 under construction) Source: Karnes Industrial Report

3. Industrial Net Absorption YearSquare Feet 2003(448,000) 20041,610,000 2005911,000 20061,329,622 Source: Karnes Industrial Report

4. 2007 Investment Sale Activity Very active market in 2006 New players in market  Carlson Real Estate  EastGroup Properties  Greenstein  DCT Industrial Trust and more CAP rates at historic lows (below 7 in some cases)

5. 2007 Industrial Forecast Predictions Continued user demand  Organic  New to market Flat CAP rates More development outside of Mecklenburg county  Land more difficult to find Vacancy rates rising slightly Still a disconnect between rising construction cost versus rental rates