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ST. PAUL, EAST - OFFICE SHOWROOM
<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 2,183,604 2,090,927 92,677 4.2% 154,485
<br /> New Projects 323,250 164,000 159,250 49.3% 164,000
<br /> Current Universe 2,506,854 2,254,927 251,927 9.5% 318,485
<br /> FUTURE PROJECTS FUTURE PROJECTS
<br /> Total Number Of
<br /> (Sq.Ft) Projects Under Construction
<br /> Under Construction 37,000 1
<br /> • 0 Commerce Drive,
<br /> Planned Projects 250,462 3
<br /> Future Projects 287,462 4 Woodbury-37,000 Sq. Ft.
<br /> Planned Projects
<br /> NET ABSORPTION(Years Ended April 30) • Carlson Companies,
<br /> Oakdale-75,000 Sq. Ft.
<br /> Annual Net Percent of • River Bend Business Park,
<br /> Absorption Occupied St. Paul- 120,000 Sq. Ft.
<br /> Year (Sq.Ft) Square Feet • Wang Properties,
<br /> 2000 44,931 3.1 Woodbury-55,462 Sq. Ft.
<br /> 2001 (14,837) (1.0)
<br /> 0 2002 69,909 3.1
<br /> 2003 11,874 0.5
<br /> 2004 318,485 10.0
<br /> Five Year Average 86,072
<br /> LARGEST CONTIGUOUS SPACE BREAKDOWN
<br /> Vacancy Size Number of
<br /> Square Feet Projects Square Feet
<br /> 0 22 0
<br /> 1-9,999 7 27,596
<br /> 10,000-24,999 4 63,895
<br /> 25,000-49,999 1 40,000
<br /> 50,000-99,999 1 98,250
<br /> 100,000+ 0 0
<br /> Total* 35 229,741
<br /> RENT SUMMARY
<br /> Average Low - High
<br /> Office Rent $9.34 $7.75 - $12.00
<br /> Warehouse Rent $4.19 $3.75 - $4.75
<br /> Blended Net Rent(Assuming 50%Office) $6.77
<br /> Taxes&Op.Exp. $3.88 $2.25 - $9.14
<br /> • .One block of space per project,may not reflect total vacancy.Not all projects reporting Largest Contiguous Space figures.
<br /> NAIOP 2004 ANNUAL INDUSTRIAL MARKET UPDATE 23
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