1. Adding value through market research Phoenix. Q1 2013 Your partner in commercial real estate Mark Detmer, SIOR, CCIM Managing Director +1 602 282 6289 Cell +1 602 448 0900 mark.detmer@am.jll.com

2. Phoenix Metropolitan Area Population Growth vs. Industrial RBA 1999 – 2016 Forecast Source: U.S. Bureau of Census, Moody’s Analytics, Jones Lang LaSalle Research Forecast Population (in thousands) Industrial RBA (in thousands) 5.4 million square feet 100,000 people = +354,100 people +19 million square feet

3. Forecast +170,000 jobs +76,600 industrial jobs Phoenix Metropolitan Area Total Employment – Non-Farm Jobs Count from 1990 – 2016 Forecast Source: U.S. Bureau of Labor Statistics, Moody’s Analytics, Jones Lang LaSalle Research 30% Industrial Employment Jobs (in thousands)

4. Phoenix Metropolitan Area Industrial Completions & Net Absorption vs. Market Vacancy & Job Growth Source: Jones Lang LaSalle Research Square Feet (in thousands) Market vital statistics Population Historic average yearly job growth Historic average vacancy Historic average yearly absorption Historic average yearly development 4,339,6002.5%10.4%4.4M5.3M

5. Phoenix Metropolitan Area Industrial Developments Construction in progress (100,000 s.f.+) FAB 42 (Intel Corporation) 1,000,000 s.f. – est. delivery Q1 2013 Estrella Logistics Center 593,600 s.f. – est. delivery Q2 2013 Living Spaces 435,000 s.f. – est. delivery Q2 2014 Southwest Products 164,000 s.f. – est. delivery Q4 2013 TJX Distribution – ProLogis Park 1,200,000 s.f. – est. delivery Q2 2013 Coldwater Depot Logistics Center 600,000 s.f. – est. delivery Q2 2013 ProLogis Park Riverside 486,000 s.f. – est. delivery Q2 2013 4550 Watkins Street 313,600 s.f. – est. delivery Q2 2013 Intel Chandler 285,000 s.f. – est. delivery Q3 2014 43 rd Avenue Logistics Center 394,775 s.f. – est. delivery Q4 2013 Project Green Box 130,000 s.f. – Delivered Q1 2013 Elliot Business Park Building 5 158,000 s.f. – Delivered Q1 2013 Elliot Business Park – Building 6 158,000 s.f. – Delivered Q1 2013 Construction completed – First Quarter 2013 5.5 million square feet under construction Image Not Available

6. Phoenix Metropolitan Area Tenants in the Market 945511 2Q | 2013 3Q | 2013 4Q | 2013 1Q | 2014 2Q | 20143Q | 20144Q | 20141Q | 2015 1,464,000 sf 1,325,000 sf 1,975,000 sf 2,140,000 sf 00 530,000 sf 750,000 sf 16.4 million Currently tracking square feet of requirements Absorption Forecast