1. LIPSEY’S SEVEN KEY STEPS TO WINNING A LISTING Presented by MICHAEL J. LIPSEY Presented by MICHAEL J. LIPSEY

2. STEP ONE KNOW YOUR CLIENT’S OBJECTIVES Stabilize Rent Roll and add substantial credit Achieve highest Present Value and minimize Concessions, particularly Tenant Improvements Through discovery, understand and know your client’s objectives Achieve 93% Occupancy by 12/31

3. Tier 1 Industry Specific Inexpensive Most Logical Large # Finely Tuned Tier 2 Tier 3 Tier 4 Logical Prospect DATABASE COUNT MARKETING MEDIUM TARGET MARKET: STEP TWO

4. Pharmaceutical – Real Estate Staff Bulk Mail/ BC Email Marketing Associate Vice Presidents of Real Estate Directors or Presidents of Real Estate CFOs Associate Brokers Senior Broker/ Associate Broker Senior Broker Marketing Materials & Personal Call Direct Mail Personal Call Mission to Mission TARGET MARKET: INDUSTRY SPECIFIC USER STEP TWO

5. STEP THREE 50,000 SF of Net Absorption Achieve 92% Occupancy by 12/31 Close 10 Leases at approx. 5,000 SF LEASING PLAN:

6. STEP THREE LEASING PLAN: Assumptions – 9 Month Plan 5 5Leases will require 10Lease Negotiations 30Letters of Intent 90Proposals 360Site Visits 2,160Contacts 21,600Units of Activity

7. ACTIVITYMonth 1 ActualMonth 2 ActualMonth 3 Actual Units of Activity 2400 Contacts 240 Site Visits 40detail40detail40detail Proposals 10docs10docs10docs Letters of Intent 3docs3 3 Lease Negotiation 2detail1 2 Signed Leases 0view0 1 Cumulative Tenants 001 STEP THREE

8. ACTIVITYMonth 4 ActualMonth 5 ActualMonth 6 Actual Units of Activity 2400 Contacts 240 Site Visits 40detail40detail40detail Proposals 10docs10docs10docs Letters of Intent 4docs3 4 Lease Negotiation 1detail1 2 Signed Leases 1view1 0 Cumulative Tenants 233 STEP THREE

9. ACTIVITYMonth 7 ActualMonth 8 ActualMonth 9 Actual Units of Activity 2400 Contacts 300 Site Visits 40detail40detail40detail Proposals 10docs10docs10docs Letters of Intent 3docs3 3 Lease Negotiation 1detail1 1 Signed Leases 1view1 0 Cumulative Tenants 455 STEP THREE

10. STEP FOUR SHOW COMPARABLES: 10kwizard.com 10kwizard.com is an online site offering a wide variety of financial Information and data on publicly traded companies. The site is easy to navigate, affordable (approx. $230/year) and offers online training and technical support. SEARCH INTERNET SOURCES FOR PUBLICLY TRADED COMPANIES

19. CoStar Verified National Data Statistics PROPERTY Over 2.2 million verified and continuously updated properties 41 billion SF of inventory 3.9 million digital images Over 800,000 for-sale and for-lease property listings Over 1.5 Million store locations for retailers Coverage in over 300 MSAs plus parts of UK & France COMPS Over 1 million detailed comparable sales records valued at 2 trillion dollars TENANT 3 million plus tenants PROFESSIONAL DIRECTORY 750,000 real estate professionals nationwide Commercial Real Estate News 9,500 news stories in 2006 – major lease transactions, acquisitions, new construction, key personnel moves, and industry events. CoStar Group is a research service utilized by over 50,000 commercial real estate professionals STEP FOUR

21. STEP FIVE PRESENT VALUE RANGE FOR EACH VACANCY: 1 - Yellow Key - PMT End of Period - EOP Yellow Key – MAR BEG/END BEG/END

23. OFFICE LEASE CALCULATE PRESENT VALUE: N I PV PMT Term:5 Years Space:10,000 sq. ft. Rent:$25 sq. ft. Discount Rate:10 STEP FIVE

24. PRESENT VALUE RANGE FOR EACH VACANCY: STEP FIVE

25. OFFICE LEASE CALCULATE PRESENT VALUE: N I PV PMT 10 into I 5 into N $250,000 Term:5 Years Space:10,000 sq. ft. Rent:$25 sq. ft. Discount Rate:10 $947,696 STEP FIVE

26. INDUSTRIAL LEASE Space:50,000 sq. ft. Term:7 Years Rent:$7 sq. ft. Discount Rate:9 CALCULATE PRESENT VALUE: N I PV PMT 9 into I 7 into N $350,000 $1,761,533 STEP FIVE

27. BRACKETING THE COMPS 10,000 sq. ft. - 5 yr. Term - $25/sq. ft. - Discount Rate 11 N I PMT = PV 10,000 sq. ft. - 5 yr. Term - $19/sq. ft. – Discount Rate 11 N I PMT PV = AVERAGE PV STEP FIVE

28. BRACKETING THE COMPS N I PV PMT N I PV PMT 11 into I 5 into N $250,000 $923,974 11 into I 5 into N $190,000 $702,220 STEP FIVE

29. PRESENT VALUE EACH VACANCY 10,000 sq. ft. - 5 yr. Term - $25/sq. ft. - Discount Rate 11 N I PMT = PV 10,000 sq. ft. - 5 yr. Term - $19/sq. ft. – Discount Rate 11 N I PMT PV = $813,097 MID POINT 5 into N11 into I$250,000 $923,974 5 into N11 into I$190,000 $702,220 STEP FIVE

30. BRACKETING THE COMPS 10,000 sq. ft. - 5 yr. Term - $20/sq. ft. - Discount Rate 10 N I PMT = PV 10,000 sq. ft. - 5 yr. Term - $15/sq. ft. – Discount Rate 11 N I PMT PV = 5 into N10 into I$200,000 5 into N10 into I$150,000 $758,157 $663,387 MID POINT OR 50-YARD LINE $568,618 STEP FIVE

31. STEP SIX AFTER TOUR.COM AfterTour.com is the industry’s only online system for real time reporting, allowing commercial brokers to: Provide instant property tour feedback to their clients Increase client satisfaction Win more listing presentations

32. STEP SIX AFTER TOUR.COM AfterTour.com instantly let Owners know how prospects feel about: Pricing Property amenities Space layout Demographics Transportation Parking Security… and much more

33. STEP SIX AFTER TOUR.COM

34. STEP SIX AFTER TOUR.COM This simple, easy to use, system of reporting keeps Owners fully informed while allowing you, the Broker, to focus on business development – not transaction management.

35. STEP SIX

36. STEP SEVEN AFTER LEASE SERVICES: Calculate Pass-throughs and Escalations Appraisal of Vacancy Lease Comparisons Competitive Analysis Green Buildings and LEED Certification