The CBC® Blue Book offers a unique market perspective with data generated by true commercial real estate market experts – the professionals of the Coldwell Banker Commercial companies. • 200+ companies within the CBC organization • Over 60 U.S. markets submitted The Blue Book highlights one of the strengths of the Coldwell Banker Commercial organization: our national footprint. The CBC organization’s strong local market coverage combined with our global reach is a key differentiator that helps our clients obtain real-time market information in order to make informed real estate decisions.

1. 2011
Coldwell Banker Commercial
Blue Book
Market Review

2. About the Coldwell Banker Commercial® Blue Book.
The CBC® Blue Book offers a unique market perspective with data
generated by true commercial real estate market experts – the
professionals of the Coldwell Banker Commercial companies.
• 200+ companies within the CBC organization
• Over 60 U.S. markets submitted
The Blue Book highlights one of the strengths of the Coldwell Banker
Commercial organization: our national footprint.
The CBC organization’s strong local market coverage combined with
our global reach is a key differentiator that helps our clients obtain
real-time market information in order to make informed real estate
decisions.
Sources of Information
Each market information comes from the CBC affiliate listed as the contact. Information is deemed from
sources considered reliable. Various sources of the data include but are not limited to: CoStar, Reis and
LoopNet. Demographic information was pulled from EASI Demographics. Unemployment numbers were
taken from Bureau of Labor Statistics.

3. Table of Contents
Contents
AL - Dothan, Houston County 2 NC - Raleigh 18
AR - Hot Springs 2 NJ - Central 19
AR - Little Rock 3 NJ - Northern 19
CA - Coachella Valley 3 NM - Albuquerque 20
CA - Inland Empire / Victor Valley 4 NV - Carson City 20
CA - Los Angeles 4 NY - Manhattan 21
CA - San Diego 5 NY - Upstate 21
CA - San Fernando / San Gabriel Valley 5 OK - Oklahoma City 22
CO - Durango 6 OK - Tulsa 22
FL - Charlotte County 6 OR - Portland 23
FL - Jacksonville 7 OR - Salem 23
FL - Orlando 7 PA - Central Region 24
FL - Southern Region 8 PA - Pittsburgh 24
GA - Athens 8 SC - Charleston / Tri-County 25
GA - Atlanta 9 SC - Columbia 25
HI - Honolulu 9 SC - Greenville / Spartanburg 26
ID - Coeur d’Alene 10 TN - Chattanooga Metro Area 26
IL - Bloomington / Normal 10 TN - Knoxville 27
IL - Champaign County 11 TX - Dallas 27
IL - Chicago 11 TX - Lubbock 28
IL - DuPage 12 TX - San Antonio 28
IN - Delaware 12 TX - Southeast Region 29
KY - Louisville 13 TX - Tarrant County (Fort Worth area) 29
LA - Lafayette 13 TX - Victoria, Victoria County 30
ME - Midcoast / Southern Regions 14 UT - Salt Lake County 30
MN - Minneapolis 14 WA - Clark County 31
MO - Southwest 15 WA - Puyallup, Pierce County 31
MO - St. Louis 15 WI - Rock County / Stateline Area 32
MO/KS - Kansas City 16 Index by State 33
MT - Billings Metro 16 Index by Market 33
NC - Charlotte Metro Area 17
NC - Greensboro / High Point Metro 17
NC - Greenville 18

4. AL - Dothan, Houston County AR - Hot Springs
Demographics Market Highlights Demographics Market Highlights
• College of Osteopathic Medicine Hot Springs, • Sports Clips moved into the
MSA Dothan, AL MSA
AR
to be built by regional medical area.
center.
Square Miles 580 Square Miles 677 • Vacancy rates are falling.
• Creation of Interstate Highway
Connector remains probable. • Burger King, Subway, Orr
Honda and Jose’s are under
Population 100,673 • Country Crossing Entertainment Population 98,888 construction.
Complex plans to reopen.
• Competitive rental rates are
Households 40,642
• Fourth quarter 2010 showed Households 43,175
contributing to vacancy rates
improvement across the board falling.
for commercial real estate.
Household Household • Increased activity overall in the
Income $64,593 • Unemployment rate continues Income $56,350 market.
Average Average
to fall.
• No change in labor force.
Employees • Avoid higher operational costs in Employees
49,960 32,750
(Total) (Total)
Florida and Georgia by locating
to the very southeast corner
of Alabama and still be able to
Unemployment 8.0% service neighboring states. Unemployment 8.0%
Total Consumer Total Consumer
$2,085,853 $2,214,734
Expenditure Expenditure
Contact Contact
Coldwell Banker Commercial Coldwell Banker Commercial
Alfred Saliba Realty RPM
410 N. Shady Lane 401 Section Line Road
Dothan, AL 36303 Hot Springs, AR 71913
(334) 793-6600 (501) 520-4000
www.alfredsalibacommercial.com www.cbcrpm.com
Office Retail Office Retail
Vacancy n Vacancy q Vacancy q Vacancy q
Absorption n Absorption p Absorption p Absorption p
Rental Rates n Rental Rates n Rental Rates q Rental Rates n
Multi-Family Industrial Multi-Family Industrial
Vacancy q Vacancy n Vacancy N/A Vacancy q
Absorption p Absorption n Absorption N/A Absorption p
Rental Rates p Rental Rates n Rental Rates N/A Rental Rates q
2

5. AR - Little Rock CA - Coachella Valley
Demographics Market Highlights Demographics Market Highlights
Little Rock- Riverside-San
North Little • Southwest Power Pool developed MSA Bernardino- • Lender foreclosures on
MSA
Rock-Conway, a $63m Office campus, Ontario, CA commercial properties has
AR employing 450 people with increased.
combined salaries and benefits Square Miles 7,207
Square Miles 771 of $53m. • Retail leasing is still very slow.
• St. Vincent Medical purchased • Sales of bargain priced
37 acres in West Little Rock Population 2,146,000 properties have improved.
Population 383,813 to develop an ambulatory
healthcare and wellness • Office tenants are taking
campus. advantage of low rental rates.
Households 713,238
Households 160,330
• New Office construction remains • Independent restaurants are
at its lowest level in many years, Household expanding.
Household while the market continues to Income $68,556
Income $76,375
deal with absorption. Average • Unemployment is still high.
Average
• The market is beginning to Employees • Slow recovery is still predicted
568,727
Employees
221,680 see quarterly improvement (Total) for the Coachella Valley
(Total) economy due to high national
in absorption rates for all
categories. unemployment and lack of
Unemployment 13.9% confidence in federal and state
Unemployment 6.9% government fiscal controls.
Total Consumer
$39,686,161
Total Consumer Expenditure
$8,409,840
Expenditure
Contact Contact
Coldwell Banker Commercial Coldwell Banker Commercial
Hathaway Group Lyle & Associates
2100 Riverdale Road, Suite #100 78000 Fred Waring Drive, Suite 200
Little Rock, AR 72202 Palm Desert, CA 92211
(501) 663-5400 (760) 772-6400 x231
www.hathawaygroup.com www.cbclyle.com
Office Retail Office Retail
Vacancy p Vacancy n Vacancy n Vacancy q
Absorption n Absorption p Absorption n Absorption p
Rental Rates q Rental Rates q Rental Rates q Rental Rates n
Multi-Family Industrial Multi-Family Industrial
Vacancy n Vacancy p Vacancy q Vacancy n
Absorption n Absorption n Absorption p Absorption n
Rental Rates p Rental Rates q Rental Rates n Rental Rates q
3

6. CA - Inland Empire / Victor Valley CA - Los Angeles
Demographics Market Highlights Demographics Market Highlights
Riverside-San Los Angeles-
MSA Bernardino- • Significant shift of Office space MSA Long Beach- • Google has added 6,000 jobs,
Ontario, CA within the Victor Valley due Santa Ana, CA many in this area (along with
to relocation of major County three new leases).
Square Miles 20,052
Offices. Square Miles 4,061
• Rent declines have decelerated
• Retail: Golden Corral, Marshall’s, if not flattened; however, leasing
Burlington Coat Factory and concessions are still plentiful.
Population 2,025,856 Ross entered the market. Population 9,887,964
• No significant new construction
• New construction started in 4Q of commercial or Industrial
2010 for private jail expansion in buildings in Southern California.
Households 637,015 Households 3,285,297
Adelanto.
• Class A product in all categories
Household • In excess of 75% Multi-Family Household remains strong, B and C are
Income $66,077 in the Victor Valley were built Income $80,635 starting their recovery in many
Average between 1980 and 1989 and Average submarkets, but not all.
virtually no units have been
Employees
587,580 added since early 2000. Employees
3,818,423 • The biggest change is in
(Total) (Total) consumer’s attitudes, there is
• Investment, grade-A, single more confidence now than there
tenant Retail selling at 5.25% has been seen in the last 2-3
Unemployment 9.9% CAP rates. Unemployment 11.7% years.
• Builders are back in the market • Overall, in spite of some
buying finished and tentative remaining soft spots in the local
Total Consumer Total Consumer
$34,859,808 lots. $182,904,681 real estate markets, this area is
Expenditure Expenditure
seeing more and more signs of
improvement.
Contact Contact
Coldwell Banker Commercial Coldwell Banker Commercial
Real Estate Solutions WESTMAC
15500 West Sand Street, 2nd Floor 1515 Sepulveda Boulevard
Victorville, CA 92392 Los Angeles, CA 90025
(760) 684-8000 (310) 478-7700
www.CBCdesert.com www.westmac.com
Office Retail Office Retail
Vacancy p Vacancy n Vacancy p Vacancy n
Absorption n Absorption p Absorption q Absorption n
Rental Rates q Rental Rates q Rental Rates n Rental Rates n
Multi-Family Industrial Multi-Family Industrial
Vacancy q Vacancy q Vacancy q Vacancy n
Absorption p Absorption p Absorption p Absorption n
Rental Rates p Rental Rates q Rental Rates p Rental Rates n
4

7. CA - San Diego CA - San Fernando / San Gabriel Valley
Demographics Market Highlights Demographics Market Highlights
San Diego- Los Angeles-
Carlsbad- • Callaway Golf announced this MSA Long Beach- • Office transactions: Los Angeles
MSA World Airports - 104,155 SF;
San Marcos, year that they will be moving Santa Ana, CA
CA some of their operations out of Live Nation, Inc - 100,500
the market. SF. Industrial: Casedge Inc
Square Miles 4,061 - 449,350 SF; CEVA Direct -
Square Miles 4,200 284,885 SF.
• Demand from owner/users for
well priced highly functional • Vacancy continued to increase in
buildings has helped to absorb Population 9,887,964 2010 although at a much slower
Population 3,071,264 much of the inventory of unsold rate. That trend is expected to
properties that were built at the reverse itself in 2011.
end of the previous cycle. Households 3,285,297
Households 1,129,261 • New construction is virtually
• New construction is mostly non-existent and does not
nonexistent with the exception Household impact this market. Due to the
Household of a handful of build-to-suits (Isis Income $80,635 perceived positive change in
Income $89,161
Pharmaceuticals, J&D Labs and Average market trends, developers are
Average looking at land again.
Amerillium)
Employees
3,818,423 • A light drop in vacancy is
Employees (Total)
(Total)
1,227,936 • Positive net absorption of 2m expected in all product types as
SF for 2010 should lead to absorption continues to outpace
increased rental rates in mid to the release of space in direct
late 2011. Unemployment 12.6% and sub-leasing. There does
Unemployment 10.1% not appear to be any rental rate
• Tenant activity in the large size growth in 2011.
segments is very strong, but
the smaller incubator market
Total Consumer
$182,904,681 • There is a more optimistic
Total Consumer Expenditure outlook in general and with a
$67,074,796 is still very weak with vacancy
Expenditure continuation of the momentum
almost double that of the overall from 2010, the market expects
Industrial market. better numbers in all product
Contact Contact types.
Coldwell Banker Commercial Coldwell Banker Commercial • The labor force has not shifted
Almar Real Estate Group North County significantly, which is what you
3655 Nobel Drive Suite 120 801 N Brand Boulavard, Suite 180 would expect in LA, due to its
San Diego, CA 92122 Glendale, CA 91203
(858) 200-8888 (818) 334-1900 diverse business demographic.
www.cbcsocal.com www.cbcnco.com
Office Retail Office Retail
Vacancy q Vacancy n Vacancy n Vacancy n
Absorption p Absorption q Absorption n Absorption q
Rental Rates p Rental Rates q Rental Rates p Rental Rates q
Multi-Family Industrial Multi-Family Industrial
Vacancy q Vacancy q Vacancy q Vacancy p
Absorption p Absorption q Absorption p Absorption q
Rental Rates p Rental Rates n Rental Rates n Rental Rates q
5

8. CO - Durango FL - Charlotte County
Demographics Market Highlights Demographics Market Highlights
• Vitamin Cottage Natural Grocers Punta Gorda, • This market has been pretty
MSA Durango, CO MSA
FL
opened in Durango. stagnant and there have been
no major changes.
Square Miles 1,692 • Aaron’s Rent-to-Own opened in Square Miles 694
Durango. • Vacancy rates are falling
because there are no jobs.
• Mercury Payment Systems plans
Population 51,899 a new Office village. Population 156,239 • There has been no new
construction in this market.
• Leasing activity in all categories
Households 21,722
is showing signs of improvement. Households 70,703
• The market will not improve until
people go back to work.
• Residential sales activity
Household improving. Household
Income $76,152 Income $66,208
Average • Healthcare sector of labor force Average
increasing.
Employees Employees
21,431 38,556
(Total) • Durango area commercial (Total)
construction has slowed, but
there are new projects on the
Unemployment 7.5% horizon for the coming year or Unemployment 12.0%
two. Retail vacancies are slowly
reducing, but rents are not
increasing. Durango is the major
Total Consumer Total Consumer
Expenditure
$1,253,117 business and tourist center in Expenditure
$3,829,863
southwest Colorado and home
to Fort Lewis College. Along with
a new major trauma medical
center, the area has a varied
Contact Contact
labor base and relatively stable
Coldwell Banker Commercial economy. Coldwell Banker Commercial
Heritage House Realtors Sunstar Realty, Inc.
785 Main Avenue 970 Kings Highway, Suite 2
Durango, CO 81301 Port Charlotte, FL 33980
(970) 259-3333 (941) 255-3497
www.realestatedurango.com www.sunstarcommercial.com
Office Retail Office Retail
Vacancy N/A Vacancy p Vacancy p Vacancy p
Absorption p Absorption q Absorption q Absorption n
Rental Rates q Rental Rates q Rental Rates q Rental Rates q
Multi-Family Industrial Multi-Family Industrial
Vacancy n Vacancy q Vacancy N/A Vacancy n
Absorption n Absorption p Absorption N/A Absorption n
Rental Rates n Rental Rates n Rental Rates N/A Rental Rates q
6

9. FL - Jacksonville FL - Orlando
Demographics Market Highlights Demographics Market Highlights
Jacksonville, • Havertys Furniture Inc. sold an Orlando- • Constar vacated 350,000 SF in
MSA MSA
FL Kissimmee, FL
Industrial building located at Q4
7720 Philips Highway to Zawyer
Square Miles 774 Realty LLC for $2.72m (about Square Miles 907 • Industrial absorption is positive
$29 PSF). for two consecutive qtrs
• Wood Partners acquired a 168- • New Amway Arena opens
Population 859,268 unit Multi-Family building from Population 1,092,371
Focus Development for $14.2m • Overall markets appear to be
(about $84,524 per unit). stabilizing.
Households 338,464 Households 412,409
• Ironshore Capital acquired • The new Harry Potter Attraction
“Water’s Edge”, a seven-story grows Universal Studios
Household condominium building in Household attendance.
Income $73,325 Income $71,611
Average
Jacksonville Beach. Average • Unemployment declined by 30
• The City of Jacksonville has basis points.
Employees Employees
(Total)
434,366 awarded a $6.1m contract (Total)
626,718
to Petticoat-Schmitt Civil • The Central Florida market
Contractors to complete appears to have found or be
the San Marco Streetscape near a bottom in all property
Unemployment 11.0%
improvements. Unemployment 11.3% types. Prospects for 2011 are
positive as REO is absorbed.
• Stellar has been awarded a $3.5
Total Consumer million contract to construct a Total Consumer
$17,968,452 10,000 SF addition and a 7,000 $22,316,457
Expenditure Expenditure
SF renovation at a Mandarin
nursing home.
Contact Contact
Coldwell Banker Commercial Coldwell Banker Commercial
Benchmark NRT - FL
4348 Southpoint Boulevard, Suite 310 901 North Lake Destiny Drive, Suite 110
Jacksonville, FL 32216 Maitland, Florida 32751
(904) 281-1990 (407) 539-1000
www.cbcbenchmark.com www.cbcworldwide.com
Office Retail Office Retail
Vacancy q Vacancy p Vacancy p Vacancy n
Absorption p Absorption q Absorption p Absorption q
Rental Rates q Rental Rates p Rental Rates q Rental Rates q
Multi-Family Industrial Multi-Family Industrial
Vacancy q Vacancy n Vacancy q Vacancy p
Absorption q Absorption q Absorption p Absorption p
Rental Rates p Rental Rates q Rental Rates p Rental Rates q
7

10. FL - Southern Region GA - Athens
Demographics Market Highlights Demographics Market Highlights
Miami-Fort Athens-Clarke
Lauderdale- • Multi-Family leads the way in MSA • The University of Georgia and the
MSA County, GA
Pompano South Florida. Medical College of Georgia have
Beach, FL partnered to establish a campus
• Industrial investment portfolio Square Miles 121 to be located on the 58-acre
Square Miles 1,205
deals show strength. former U.S. Navy Supply Corps
property in Athens, GA.
• Office market hurt by lack of new
tenants. Population 197,732 • Tripp Umbach, a medical
Population 1,773,268 education planning organization,
• Retail market vacancy at 6.7%. estimates that the regional
Households 49,910 economic impact of the Athens
• Office market vacancy at 14.7%. campus will be more than $567
Households 712,588
million annually, with 3,000 new
• Industrial market vacancy at Household
jobs and $17 million generated
Household 9.4%. Income $48,834
in local government revenue by
Income $78,939 Average
2020.
Average • Market is slowly improving on the
leasing side, with very few new Employees
(Total)
35,805 • Tripp Umbach also estimates
Employees
682,298 tenants entering the market. that at least $180 million will
(Total) Investment / Portfolio sales are be invested commercially as
picking up. Bank REO properties a result of medical research
are increasing and are of better Unemployment 7.6%
growth in the Athens area.
Unemployment 11.8% quality.
Total Consumer
$2,291,829
Total Consumer Expenditure
$39,517,826
Expenditure
Contact Contact
Coldwell Banker Commercial Coldwell Banker Commercial
NRT - FL Upchurch Realty
3837 NW Boca Raton Boulevard, #200 2405 West Broad Street
Boca Raton, Florida 33431 Athens, GA 30606
(561) 479-1225 (706) 354-7870
www.cbcworldwide.com www.upchurchrealtycommercial.com
Office Retail Office Retail
Vacancy q Vacancy q Vacancy n Vacancy p
Absorption p Absorption q Absorption p Absorption n
Rental Rates q Rental Rates q Rental Rates q Rental Rates q
Multi-Family Industrial Multi-Family Industrial
Vacancy q Vacancy q Vacancy n Vacancy n
Absorption p Absorption p Absorption n Absorption n
Rental Rates p Rental Rates q Rental Rates q Rental Rates n
8

11. GA - Atlanta HI - Honolulu
Demographics Market Highlights Demographics Market Highlights
Atlanta-Sandy
MSA Springs- • HQ moves: Novelis, NCR and GE MSA Honolulu, HI • Hawaii’s economy is starting to
Marietta, GA Energy (357,000 SF) moved in. look better. University of Hawaii
Nuclear Regulatory Commission Economic Research Organization
Square Miles 529
(102,436 SF) moved to Square Miles 600 reports Oahu tourism is leading
downtown Atlanta in 2010. a modest recovery. Tourism
as major economic engine is
• Vacancy is relatively flat at expected to increase 4.1% to 7.3
19.2% for 2009 and 2010. Population 910,677
Population 1,044,336 million visitors in 2011.
• 8 buildings delivered in 2010 for • Hawaii’s construction is a replay
a total of 1,896,524 SF. Households 311,782 of 2010 for 2011, with only
Households 435,995
military and government projects
• Net absorption in 2010 was being awarded, attracting out-of-
821,275 SF. Office inventory Household
Household
Income $83,803
state firms to compete for these
Income $95,068 closed at 201 million SF. contracts.
Average Average
Vacancy fell by .3% since 2009.
Office rental rate fell 10 cents. • In 2010, unemployment rate was
Employees Employees
730,767 (Total)
365,718 at a low of 6.4% with 594,000
(Total) • Atlanta has 10 submarkets. people employed. This is
Sony Ericsson made a expected to expand to 602,300,
submarket move in 2010. primarily in the Hospitality
Unemployment 10.2% Unemployment 4.8%
sectors.
• Labor force continues to be
stable in Atlanta market. • Hawaii’s commercial investment
Total Consumer Total Consumer sales are expected to increase
$18,982,203
Expenditure
$23,738,587 Expenditure over 2010 as” capital freeze”
thaws. Significant sales in 2010
include: Bishop Square Office
Complex that sold for $230m
Contact Contact and Pearl Ridge Shopping Center
sold for $245m.
Coldwell Banker Commercial Coldwell Banker Commercial
Metro Brokers NRT - Hawaii
3575 Piedmont Road NE, Piedmont Center 737 Bishop Street, Suite 2000
Bldg 15 Suite 950 Honolulu, HI 96813
Atlanta, GA 30305 (808) 526-0896
(678) 320-4800 www.cbcpacific.com
www.cbcworldwidemetro.com
Office Retail Office Retail
Vacancy q Vacancy p Vacancy p Vacancy p
Absorption p Absorption q Absorption q Absorption q
Rental Rates q Rental Rates q Rental Rates q Rental Rates q
Multi-Family Industrial Multi-Family Industrial
Vacancy p Vacancy q Vacancy n Vacancy p
Absorption q Absorption q Absorption p Absorption q
Rental Rates q Rental Rates n Rental Rates p Rental Rates N/A
9

12. ID - Coeur d’Alene IL - Bloomington / Normal
Demographics Market Highlights Demographics Market Highlights
Coeur d’Alene, • Development is limited to build- Bloomington- • Both major healthcare
MSA MSA
ID Normal, IL
to-suit activity. organizations have building
expansion projects underway.
Square Miles 1,245 • Tenants are using this Square Miles 1,184
opportunity to extend their • Mitsubishi Motors is adding
leases and lock in low rates. a new car model to its
production line, thus stabilizing
Population 140,628 • Beginning to see a trend Population 168,918 employment.
towards fewer concessions from
landlords. • Campus housing development at
Households 53,154 Households 70,687 Illinois State University is active.
• Asking rents have remained
steady, but this does not tell the • Heartland Community College
Household whole story. Effective rents have Household purchased 100 acres for future
Income $62,733 Income $73,184
dropped over the last year. growth.
Average Average
• Apartment market is beginning • Retail market starts slow
Employees Employees
49,226 to recover. This market expects 69,980 recovery as demand picks up.
(Total) (Total)
to see lower vacancies and
higher rents by the end of 2011.
Unemployment 11.3% Unemployment 6.7%
Total Consumer Total Consumer
$2,933,601 $4,038,011
Expenditure Expenditure
Contact Contact
Coldwell Banker Commercial Coldwell Banker Commercial
Schneidmiller Realty Heart of America Realtors
2000 Northwest Boulevard 802 S. Eldorado Road
Coeur d’Alene, ID 83814 Bloomington, IL 61704
(208) 765-4300 (309) 662-3377
www.cbcsr.com www.cbhoacommercial.com
Office Retail Office Retail
Vacancy q Vacancy q Vacancy n Vacancy n
Absorption p Absorption p Absorption n Absorption n
Rental Rates q Rental Rates n Rental Rates q Rental Rates n
Multi-Family Industrial Multi-Family Industrial
Vacancy q Vacancy q Vacancy q Vacancy p
Absorption p Absorption p Absorption p Absorption q
Rental Rates n Rental Rates q Rental Rates n Rental Rates q
10

13. IL - Champaign County IL - Chicago
Demographics Market Highlights Demographics Market Highlights
Champaign- Chicago-
MSA • The University of Illinois helps MSA Naperville- • There were several large Office
Urbana, IL
to drive the local economy and Joliet, IL-IN-WI leases in the Chicago market
contributes to its stability. in 2010. The largest being UBS
Square Miles 997 Square Miles 946
for 382,000 SF in downtown
• The local healthcare industry Chicago.
has remained strong and
continues to be a regional draw • Vacancy has fallen because
Population 197,011 for the community. Population 5,304,373 there was virtually no new
construction and several large
• Despite the economic downturn, new leases were secured.
Households 85,107 new technology-related
Households 1,953,418
enterprises have continued • There was only 778,000 SF
to develop and expand in this of new construction in 2010,
Household market. Household of which 571,000 SF was
Income $61,502 Income $84,614
Average
preleased.
• Vacancy is at an all-time high Average
in the Office sector, prompting • There was positive absorption
Employees Employees
(Total)
73,556 landlords to lower rents and offer 2,393,188 of 1,914,000 SF in the Chicago
(Total)
incentives to attract tenants. market in 2010. As a result,
vacancy dropped and rental
• The Retail sector is showing rates increased.
Unemployment 7.5% signs of recovery with national Unemployment 8.6%
Retailers beginning to re-enter • Tenants sense that the market
the market. is starting to get better and, as
Total Consumer a result, are taking advantage of
Total Consumer
Expenditure
$4,461,113 • The Multi-Family sector $107,386,591 competitive lease terms.
Expenditure
continues to experience growth
and relatively low vacancy rates, • There was 5% employment
especially with student housing. growth from 2009 to 2010.
Contact Contact Chicago continues to have a
diverse employment base.
Coldwell Banker Commercial Coldwell Banker Commercial
Devonshire Realty NRT - Chicago
201 W. Springfield Avenue 2215 Sanders Road, Suite 350
Champaign, IL 61820 (847) 313-4646
(217) 352-7712 www.cbcnrtchicago.com
cbcdr.com
Office Retail Office Retail
Vacancy p Vacancy p Vacancy q Vacancy q
Absorption q Absorption n Absorption p Absorption p
Rental Rates q Rental Rates q Rental Rates p Rental Rates q
Multi-Family Industrial Multi-Family Industrial
Vacancy n Vacancy p Vacancy q Vacancy q
Absorption n Absorption n Absorption p Absorption p
Rental Rates n Rental Rates n Rental Rates p Rental Rates q
11

14. IL - DuPage IN - Delaware
Demographics Market Highlights Demographics Market Highlights
Chicago-
MSA Naperville- • Rasmussen College and other MSA Muncie, IN • Three employers opened plants
Joliet, IL-IN-WI educational services are creating a total of 800 jobs.
expanding.
Square Miles 393 • Industrial vacancy rate is falling
Square Miles 334
• With large Office leases expiring, due to new employers.
tenants are shopping for better
deals and downsizing. • CBD Office vacancy is up 15%
Population 935,405 Population 115,425 due to shrinking government
• Central Dupage Hospital Cancer programs.
Center increases its presence
with new construction. Households 48,625
• CBD Rent rates are down 10-
Households 338,513
15%.
• There has been slow absorption
Household of Retail Center space in the Household • Ivy Tech Community College
Income $55,245 opened a Campus in CBD.
Income $104,196 Chicago west suburbs.
Average Average
• Many Chicago suburban • Muncie has the most affordable
Employees housing in Division 1-A
Employees
622,755 communities expect that 42,446
(Total) (Total)
absorption will not improve until communities.
2012-2013, when confidence
in the market returns to Retail/
Unemployment 8.6% Office. Unemployment 10.0%
Total Consumer Total Consumer
$21,956,832 $2,493,689
Expenditure Expenditure
Contact Contact
Coldwell Banker Commercial Coldwell Banker Commercial
NRT - Chicago Lunsford Real Estate
1225 W. 22nd Street, Suite 130 3601 W. Bethel Avenue
Oak Brook, IL, 60523 Muncie, IN 47304
(630) 954-4600 (765) 289-2228
www.cbcnrtchicago.com www.coldwellbankercommerciallunsford.com
Office Retail Office Retail
Vacancy p Vacancy p Vacancy p Vacancy q
Absorption q Absorption p Absorption q Absorption p
Rental Rates q Rental Rates q Rental Rates q Rental Rates n
Multi-Family Industrial Multi-Family Industrial
Vacancy q Vacancy p Vacancy n Vacancy q
Absorption p Absorption p Absorption n Absorption p
Rental Rates p Rental Rates q Rental Rates q Rental Rates n
12

15. KY - Louisville LA - Lafayette
Demographics Market Highlights Demographics Market Highlights
Louisville/
MSA Jefferson • Downtown Louisville is in a MSA Lafayette, LA • This market was directly affected
County, KY-IN growth mode with the New YUM! by the Gulf Oil spill.
Center.
Square Miles 270 • Government has lifted the
Square Miles 385
• UPS is a major employer and moratorium, but has not issued
provides a logistics hub to many permits to drill.
emerging companies.
Population 723,786 Population 212,674 • Lack of new construction for
• Retail vacancies are beginning to Industrial has kept this market
fill up in major locations. stable. Minimal properties are
Households 82,912 available for lease or sale.
Households 302,589
• New constructions and new
projects remain slow. • Several new large Multi-Family
Household Household complexes has increased the
• The demand for Multi-Family Income $75,497
Income $74,419 vacancy rate throughout the
Average Average
build sites is very strong. rental market.
• The unemployment rate is Employees
Employees
400,666 128,639 • Retail spending has remained
(Total) (Total)
dropping. high throughout the trade area.
• The Louisville market is holding • Unemployment remains in
Unemployment 9.8% steady. A Retail rebound, Multi- Unemployment 5.6% the 5% range, but continued
Family and logistic positioning by government involvement in the
companies using the UPS Hub oil industry will force many of
are strengths in the Louisville local jobs out of the country.
Total Consumer Total Consumer
$16,376,009 area market. The market Expenditure
$4,418,906
Expenditure
include an MSA of about 1.2
million people. Office and new
construction projects are slow
areas of the commercial market
Contact Contact
right now. The emergence of
Coldwell Banker Commercial downtown and the new KFC Coldwell Banker Commercial
McMahan Co. YUM! Center make the area Pelican Real Estate
6402 Railroad Avenue interesting for commercial 806 East Saint Mary Boulevard
Crestwood, Kentucky 40014 Lafayette, LA 70503
(502) 241-8811 investment. (337) 233-9541
www.cbmcmahan.com www.cbcpelican.com
Office Retail Office Retail
Vacancy n Vacancy q Vacancy p Vacancy p
Absorption n Absorption p Absorption q Absorption q
Rental Rates q Rental Rates n Rental Rates q Rental Rates q
Multi-Family Industrial Multi-Family Industrial
Vacancy n Vacancy q Vacancy n Vacancy q
Absorption p Absorption p Absorption n Absorption p
Rental Rates n Rental Rates n Rental Rates n Rental Rates q
13

16. ME - Midcoast / Southern Regions MN - Minneapolis
Demographics Market Highlights Demographics Market Highlights
Portland-South Minneapolis-
MSA Portland- • Retail: Wal-Mart and Tractor St. Paul- • Microsoft is expanding again in
MSA
Biddeford, ME Supply will start construction in Bloomington, the Twin Cities.
the fall of 2011. MN-WI
• Investment property sales were
Square Miles 991
• Vacancy Rates are falling due Square Miles 557
up in 2010.
to lack of inventory of available
space. • US Bank signs 340,000 SF lease
Population 201,958 at Meridian Crossings.
• There are several proposed Population 1,162,574
construction projects slated for • Office market sees signs of
2011. stabilization.
Households 79,304
Households 485,989
• Rental rates are holding steady; • Apartment market shows
Household Office rates are down a bit. positive trends.
Income $68,728 Household
Average • Midcoast Maine has been Income $94,537 • Signs of job growth reemerge at
discovered because of its quality Average same rate as nation.
Employees
56,526 of lifestyle and growing economy.
(Total) Employees
834,033
(Total)
• Unemployment is below state
and national averages.
Unemployment 5.9%
Unemployment 6.5%
Total Consumer
$4,498,991
Expenditure Total Consumer
$29,346,247
Expenditure
Contact Contact
Coldwell Banker Commercial Coldwell Banker Commercial
SoundVest Properties Griffin Companies
147 Park Street 615 1st Avenue NE Suite 500
Rockland, ME 04841 Minneapolis, MN 55413
(207) 596-7478 (612) 338-2828
www.soundvest.com www.cbcgriffin.com
Office Retail Office Retail
Vacancy q Vacancy q Vacancy p Vacancy p
Absorption p Absorption p Absorption p Absorption q
Rental Rates q Rental Rates p Rental Rates q Rental Rates q
Multi-Family Industrial Multi-Family Industrial
Vacancy p Vacancy q Vacancy q Vacancy p
Absorption q Absorption p Absorption p Absorption q
Rental Rates n Rental Rates p Rental Rates p Rental Rates q
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17. MO - Southwest MO - St. Louis
Demographics Market Highlights Demographics Market Highlights
Springfield, St. Louis and
MSA • In August 2010, Expedia Inc. MSA 16 counties • Industrial, Retail and Multi-
MO
announced its intentions to bring across MO-IL Family vacancy levels have
500 new jobs to Springfield decreased for each of the past 4
Square Miles 675 to coincide with a move to Square Miles 8,458
quarters. The rates will continue
Springfield’s old airport. to decrease due to the lack of
new product available.
• T-Mobile plans to hire 300
Population 271,195 people for its Springfield Population 2,812,896 • Office vacancy has remained flat
customer care service center even though new construction
next year; 100 of them during deliveries continue to be strong.
Households 118,990 the first quarter of 2011. Households 736,952
• Net absorption was positive for
• McLane Co. Inc. plans to build a past 4 quarters for the Industrial,
Household 400,000 SF distribution center Household Retail and Multi-Family sectors.
Income $58,871 Income $51,691
Average
on Republic’s west side that
Average • Net absorption for the Office
would employ about 400 people.
sector was mixed for the year,
Employees Employees
(Total)
145,282 • O’Reilly Hospitality Management 1,440,683 however, the last 2 quarters
(Total)
will complete its new 125-room ended with strong results.
Hilton Garden Inn in March 2011
on Springfield’s south side.
Unemployment 8.4% Unemployment 9.9%
Total Consumer Total Consumer
$6,303,682 $31,575,174
Expenditure Expenditure
Contact Contact
Coldwell Banker Commercial Coldwell Banker Commercial
Vanguard, Realtors CRA LLC
1334 E. Republic Road 8820 Ladue Road
Springfield, MO 65804 Saint Louis, MO 63124
(417) 887-5950 (314) 206-4600
www.cbcvanguard.com www.cbcstl.com
Office Retail Office Retail
Vacancy p Vacancy p Vacancy q Vacancy q
Absorption q Absorption p Absorption p Absorption p
Rental Rates q Rental Rates p Rental Rates p Rental Rates q
Multi-Family Industrial Multi-Family Industrial
Vacancy N/A Vacancy p Vacancy q Vacancy q
Absorption N/A Absorption p Absorption p Absorption p
Rental Rates N/A Rental Rates q Rental Rates p Rental Rates q
15

18. MO/KS - Kansas City MT - Billings Metro
Demographics Market Highlights Demographics Market Highlights
Kansas City, • Sprint’s 4,000,000 SF campus • Base economic industries;
MSA MSA Billings, MT
MO-KS
in Overland Park now has Agriculture, Petroleum, Medical,
370,000 SF of subleased & Tourism remained even paced
Square Miles 477 space, most at the expense of Square Miles 2,635 in 2010.
downtown Kansas City, MO.
• Area residential real estate has
• The average Household Income not been impacted by national
Population 546,679 for the Kansas City Metro for Population 145,900 factors.
2010 was $103,069.
• New construction has been
Households 210,513 • During 2010 modern bulk Households 59,768 curtailed by lack of regional
distribution space had a positive financing.
net absorption of 122,000 SF.
Household Household • Lender REO activity has been
Income $103,035 Income $69,258
• Modern warehousing had a minimal.
Average Average
122,000 SF positive absorption
in 2010. • Multi-Family occupancy indicates
Employees Employees
317,994 67,577 further property expansion.
(Total) (Total)
• Wyandotte County lead the
Metro area in new construction • Considerable 2010 4th quarter
last year. activity tends to indicate
Unemployment 8.6% Unemployment 5.5% a substantial increase in
• Johnson County index of transaction volume during the
consumer confidence was up 6% first quarter of 2011.
Total Consumer
in early 2011. Total Consumer
Expenditure
$13,553,993
Expenditure
$3,344,037 • 2011 is projected to be a better
year for commercial transaction
activity.
Contact Contact
Coldwell Banker Commercial Coldwell Banker Commercial
Fishman & Company The Brokers
1948 E Santa Fe Street 1215 24th Street, Suite 240
Olathe, KS 66062 Billings, MT 59102
(913) 782-9000 (406) 656-2001
www.cbcfishman.com www.cbcmontana.com
Office Retail Office Retail
Vacancy p Vacancy q Vacancy n Vacancy p
Absorption q Absorption n Absorption n Absorption n
Rental Rates p Rental Rates q Rental Rates q Rental Rates q
Multi-Family Industrial Multi-Family Industrial
Vacancy q Vacancy q Vacancy q Vacancy n
Absorption n Absorption p Absorption p Absorption n
Rental Rates N/A Rental Rates q Rental Rates p Rental Rates q
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19. NC - Charlotte Metro Area NC - Greensboro / High Point Metro
Demographics Market Highlights Demographics Market Highlights
Charlotte- Greensboro-
MSA Gastonia- • A number of corporate MSA Winston Salem- • Dell and American Express
Concord, NC-SC relocations in 2010 paired with High Point, NC moved out of market. Caterpillar
the recent announcement of and FedEx Ground are moving in.
Square Miles 526
the 2012 Democratic National Square Miles 649
Convention being held in • Vacancy is rising because
Charlotte continue to keep the American Express and Dell are
region in the spotlight. closing and RJR is laying off
Population 924,534 Population 483,648 employees.
• Increasing demand for space
and lack of new development • A new Events Center in Eastern
has caused positive absorption. Davie is being constructed.
Households 368,843 Households 200,893
• Lack of new construction and • Fairly level status of vacancy at
Household signs of an improving economy Household high levels for all 2010.
Income $86,370 have had a positive influence on Income $70,444
Average Average • What is changing in this market?
vacancy rates.
There is a balance of losing
Employees
556,689 • Flattening of rental rates and Employees
256,183 companies with influx of logistic
(Total) (Total) companies.
even some slight positive
increases are a result of positive
absorption. • The labor force is moving
Unemployment 10.7% Unemployment 10.2% from manufacturing to skilled
• Charlotte geographic location, technology.
low cost of living, educated work
force and warm climate continue
Total Consumer Total Consumer
Expenditure
$20,736,072 to benefit the region. Expenditure
$10,463,059
• Charlotte continues to benefit
from educated labor force which
Contact has been major influence in a Contact
number of corporate relocations
Coldwell Banker Commercial of both major companies as well Coldwell Banker Commercial
MECA as their vendors. Triad, Realtors
1815 S Tryon Street, Suite A 285 S. Stratford Road
Charlotte, NC 28203 Winston-Salem, NC 27103
(704) 971-2000 (336) 659-3259
www.cbcmeca.com www.cbctriad.com
Office Retail Office Retail
Vacancy q Vacancy q Vacancy p Vacancy p
Absorption p Absorption p Absorption n Absorption n
Rental Rates n Rental Rates n Rental Rates q Rental Rates q
Multi-Family Industrial Multi-Family Industrial
Vacancy q Vacancy q Vacancy q Vacancy p
Absorption p Absorption p Absorption p Absorption q
Rental Rates p Rental Rates n Rental Rates n Rental Rates q
17