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What’s Next L.A.? Economic Conference, Commercial Real Estate Section

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BEACONECONOMICS

5

10

15

20

25

Perc

enta

ge, S

AQ1-82 Q3-86 Q1-91 Q3-95 Q1-00 Q3-04 Q1-09

Source: Property & Portfolio Research

Los Angeles (MD), Q1-82 to Q4-09

Office Vacancy Rates

10

15

20

25

30

Gro

ss D

olla

r pe

r Sq

uare

Foo

t per

Yea

r

Q1-90 Q2-93 Q3-96 Q4-99 Q1-03 Q2-06 Q3-09

Los Angeles (MD) Inland Empire (MSA)

Orange County (MD) San Diego (MSA)

*These data are seasonally adjusted and smoothed

Source: Property & Portfolio Research

Q1-90 to Q4-09

Office Cost of Rent

-4,000

-2,000

0

2,000

4,000

Thou

sand

s of

Squ

are

Feet

Q1-90 Q2-93 Q3-96 Q4-99 Q1-03 Q2-06 Q3-09

Los Angeles (MD) Inland Empire (MSA)

Orange County (MD) San Diego (MSA)

*These data are seasonally adjusted and smoothed

Source: Property & Portfolio Research

Q1-90 to Q1-10

Office Net Absorption

6

7

8

9

10

Perc

ent

Q1-90 Q2-93 Q3-96 Q4-99 Q1-03 Q2-06 Q3-09

Los Angeles (MD) Inland Empire (MSA)

Orange County (MD) San Diego (MSA)

*These data are seasonally adjusted and smoothed

Source: Property & Portfolio Research

Q1-90 to Q4-09

Office Cap Rates

17.7 27.13 !1.4 59, 335 0 !23815.0 20.98 !3.1 29, 488 0 !3018.3 23.06 !1.5 18, 461 0 !3719.5 26.17 !1.8 41, 377 100 !25019.1 23.79 !0.1 57, 437 0 !8617.4 29.13 !1.5 40, 495 0 !12219.7 25.78 !2.1 15, 194 0 10616.4 39.13 !4.1 80, 226 325 !12817.7 28.54 !2.1 342, 013 425 !784

0

5

10

15

20

25

Perc

ent

Q1-90 Q2-93 Q3-96 Q4-99 Q1-03 Q2-06 Q3-09

Los Angeles (MD) Inland Empire (MSA)

Orange County (MD) San Diego (MSA)

*These data are seasonally adjusted and smoothed

Source: Property & Portfolio Research

Q1-90 to Q4-09

Retail Vacancy Rate

10

15

20

25

30

Gro

ss D

olla

r pe

r Sq

uare

Foo

t per

Yea

r

Q1-90 Q2-93 Q3-96 Q4-99 Q1-03 Q2-06 Q3-09

Los Angeles (MD) Inland Empire (MSA)

Orange County (MD) San Diego (MSA)

*These data are seasonally adjusted and smoothed

Source: Property & Portfolio Research

Q1-90 to Q4-09

Retail Cost of Rent

-4,000

-2,000

0

2,000

4,000

Thou

sand

s of

Squ

are

Feet

Q1-90 Q2-93 Q3-96 Q4-99 Q1-03 Q2-06 Q3-09

Los Angeles (MD) Inland Empire (MSA)

Orange County (MD) San Diego (MSA)

*These data are seasonally adjusted and smoothed

Source: Property & Portfolio Research

Q1-90 to Q4-09

Retail Net Absorption

5

6

7

8

9

Perc

ent

Q1-90 Q2-93 Q3-96 Q4-99 Q1-03 Q2-06 Q3-09

Los Angeles (MD) Inland Empire (MSA)

Orange County (MD) San Diego (MSA)

*These data are seasonally adjusted and smoothed

Source: Property & Portfolio Research

Q1-90 to Q4-09

Retail Cap Rates

0

5

10

15

20

Perc

ent

Q1-90 Q2-93 Q3-96 Q4-99 Q1-03 Q2-06 Q3-09

Los Angeles (MD) Inland Empire (MSA)

Orange County (MD) San Diego (MSA)

*These data are seasonally adjusted and smoothed

Source: Property & Portfolio Research

Q1-90 to Q4-09

Industrial Vacancy Rate

4

5

6

7

8

Trip

le N

et D

olla

r pe

r Sq

uare

Foo

t per

Yea

r

Q1-90 Q2-93 Q3-96 Q4-99 Q1-03 Q2-06 Q3-09

Los Angeles (MD) Inland Empire (MSA)

Orange County (MD) San Diego (MSA)

*These data are seasonally adjusted and smoothed

Source: Property & Portfolio Research

Q1-90 to Q4-09

Industrial Cost of Rent

-4,000

-2,000

0

2,000

4,000

6,000

Thou

sand

s of

Squ

are

Feet

Q1-90 Q2-93 Q3-96 Q4-99 Q1-03 Q2-06 Q3-09

Los Angeles (MD) Inland Empire (MSA)

Orange County (MD) San Diego (MSA)

*These data are seasonally adjusted and smoothed

Source: Property & Portfolio Research

Q1-90 to Q4-09

Industrial Net Absorption

5

6

7

8

9

Perc

ent

Q1-90 Q2-93 Q3-96 Q4-99 Q1-03 Q2-06 Q3-09

Los Angeles (MD) Inland Empire (MSA)

Orange County (MD) San Diego (MSA)

*These data are seasonally adjusted and smoothed

Source: Property & Portfolio Research

Q1-90 to Q4-09

Industrial Cap Rates

1, 955.8 2, 177.4 1, 687.7

105.2 105.0 30.2

210.9 228.3 61.1

127.1 116.7 46.0

647.3 493.8 171.3

775.8 687.0 445.7

19.4 8.1 5.0

502.0 476.4 197.6

4, 660.3 4, 552.4 2, 680.1

100

200

300

400

500

Mil

lion

s of

Dol

lars

(SA

)

Jan-95 Jan-97 Jan-99 Jan-01 Jan-03 Jan-05 Jan-07 Jan-09Source: Construction Industry Research Board

Los Angeles County, Jan-95 to Mar-10

Value of Total Non-Residential Permits