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ST. PAUL, EAST - OFFICE WAREHOUSE' <br /> • CURRENT UNIVERSE <br /> Annual Net <br /> Total Occupied Vacant Percent Absorption <br /> (Sq.Ft.) (Sq.Ft.) (Sq.Ft.) Vacant (Sq.Ft.) <br /> Existing Projects 10,462,151 9,284,843 1,177,308 11.3% 209,596 <br /> New Projects 0 0 0 0.0% 0 <br /> Current Universe 10,462,151 9,284,843 1,177,308 11.3% 209,596 <br /> FUTURE PROJECTS FUTURE PROJECTS <br /> Total Number Of <br /> (Sq.Ft) Projects Under Construction <br /> Under Construction 0 0 • None <br /> Planned Projects 75,000 1 Planned Projects <br /> Future Projects 75,000 1 • Carlson Companies, Oakdale— <br /> 75,000 Sq.Ft. <br /> NET ABSORPTION(Years Ended April 30) <br /> Annual Net Percent of <br /> Absorption Occupied <br /> YearS S . Feet <br /> ( q Ft) Square q <br /> 2000 301221 4.7 <br /> 2001 247,043 3.7 <br /> • 2002 (154,682) (2.1) <br /> 2003 890,447 9.7 <br /> 2004 209,596 2.3 <br /> Five Year Average 298,725 <br /> LARGEST CONTIGUOUS SPACE BREAKDOWN <br /> Vacancy Size Number of <br /> Square Feet Projects Square Feet <br /> 0 89 0 <br /> 1—9,999 11 54,990 <br /> 10,000—24,999 7 108,339 <br /> 25,000—49,999 6 189,031 <br /> 50,000—99,999 4 288,715 <br /> 100,000+ 2 289,960 <br /> Total* 119 931,035 <br /> RENT SUMMARY <br /> Average Low - High <br /> Office Rent $8.61 $5.00 - $13.00 <br /> Warehouse Rent $4.00 $2.50 - $6.00 <br /> Blended Net Rent(Assuming 20%Office) $4.92 <br /> Taxes&Op.Exp. $2.51 $1.13 - $3.01 <br /> ill .One block of space per project,may not reflect total vacancy.Not all projects reporting I�rgest Contiguous Space figures. <br /> 22 NAIOP 2004 ANNUAL INDUSTRIAL MARKET UPDATE <br />