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last sip ntonths the av-eraaF x:1<.ing }?rit:e has While there ha.~ been a redtu-tion in dae as.rr- Fueling tnruai of the uncertain ecG:xun~nic ezt- <br />dropi~~ed trove *(ii.30 to $~6.~1-over 2~°,/0. age asking prices tier sale properties, the same virt~nment is the riitrg price of gasoline. No~~ <br />The market for owner-user ~buildint~s has also is not true for leasin;. Average asking rates that gas is over $4.00 a gallon and diesel is ap- <br />slwnl>ed. have renrained relatitie.ly steady for the past proackt.utg ~5.Oi?, are the third or tourtlt ring <br /> live quarters, suburbs too lar out' <br />The implications of a sustained price reduc- <br />ttOri itlt 1)Otb VVayS. If y'(`~ll aTe 1851 r1g TO(l:d.y anfl <br />want to buy, you may be able to tower your cost <br />of occup<<ncy. Interest rates and loan terms for <br />ov.~ner oaa.xpird properties are still attractive. <br />PROPERTY NAME <br />CITY, STATE <br />$/SF <br />YEAR BUILT <br />If you are selling your properly, or your proper- 21881 Grenada Avenue Lakeville, MN $110 2005 <br />ty and business cotubined, this will hurt your Advantek Building Hopkins, MN $62 1992 <br />vabiatic>n. Sizuilarly, if you bought Gvhezt prices 84 Lumber Company Hugo, MN $56 2002 <br />were higher, leveraged uf? to 7.5-i3Q°lo and now 2500 Walnut St Saint Paul, MN $49 1964 <br />need to refinance, you tnay be required. to 9231 Penn Ave Minneapolis, MN $22 1967 <br />1)rutg CASK t0 the CaOSltt~g. ~~:~,~ =iG rr; <br /> $5.03 <br />,, <br />.:~r.~'' <br />$4.58 $4':90 $4.64 <br />$4.65 <br />-- $4.54 <br /> $4:55.. $4.42 $4:44 <br /> <br />$4.38 ~~ <br />~ <br />__ <br />~~. <br /> $4.32 $416. <br /> <br />~~ ~", $3.97 <br />$3.90 $3.90 <br />°_: ~ ~ <br />Q2 2006 Q4 2006 Q2 2007 Q4 2007 Q2 2008 <br /> S_,,~~~. ~ ~~;~-~~ <br />PROPERTY NAME TENANT CITY, STATE SF <br />Wickes Distribution Center ILS Brooklyn Center, MN 87,000 <br />Louisiana Distribution Center Innoflex Corporation New Hope, MN 72,731 <br />Evergreen Industrial Building 9 Active Sports Inc. Shoreview, MN 53,400 <br />Broadway Business Center VI Hallmark Building Supplies, Inc. Minneapolis, MN 46,059 <br />Park West Industrial Center Insignia Brooklyn Park, MN 40,781 <br />Louisiana Distribution Center Kudzu Enterprises New Hope, MN 32,417 <br />640 Taft St NE Absolute Distribution, Inc. Minneapolis, MN 21,600 <br />Sedgwick Building Sedgwick Heating & Air Conditioning Bloomington, MN 19,915 <br />