Industrial Market Trends - 2Q14 by STLCR

St Louis, Missouri

2nd Quarter 2014

INDUSTRIAL Market Trends

Table of Contents/Methodology of Tracked Set

St Louis Market Maps

Q2 2014 Overview

Overview by Submarket/ Property Type

5-7

Vacancy & Lease Rates

8-10

Biggest Absorption Changes

Available Space

Notable Transactions

Vacancy & Absorption

Xceligent St Louis Contact

The St Louis tracked set consists of an inventory of buildings considered to be competitive within the brokerage community. All buildings within the competitive tracked set have been reviewed and verified by members of the Advisory Boards for each market area. Inventory

The total square feet of all existing single and multi tenant industrial properties greater than 10,000 SF.

Total Available SF

All of the available leasable space within a building, whether it is occupied or vacant, for direct lease or sublease space. Space can be available but not vacant, for example, if the landlord, or his agent, is marketing space that will be coming available at a future date because a tenant is planning to move.

Total Vacant SF

The total of all of the vacant square footage within a building, including both direct and sublease space.

Direct Vacant SF

The total of the vacant square footage in a building that is being marketed by an agent representing the landlord.

Sublease SF

Space that is offered for lease by a current tenant, or his agent, within a property. Whether the tenant is paying rent or not, the space is considered vacant only if it is unoccupied.

Net Absorption

The net change in physically occupied space from quarter to quarter, expressed in square feet.

St Louis Industrial Markets

Q2 2014 Overview 



The St. Louis industrial market finished the first half of the year on a high note as the market absorbed over 1.5 million SF of space. Six 100,000+ SF transactions helped fuel the momentum, led by three user sales that accounted for nearly 900,000 SF. Space options for 100,000+ SF tenants seeking modern distribution buildings with at least 28' clear heights are becoming more extinct by the day. This shortage of inventory is most pronounced in the Northwest and St. Charles areas. Speculative construction has begun on the Illinois side of the market as the 1.3 million SF Gateway Commerce Center project recently broke ground. On the Missouri side, Panattoni is expected to begin construction on their Aviator Distribution Center project in August and Duke's Premier 370 project looks to be resolving their bond issues for a 2015 delivery.



Although actitivty remains healthy, market experts are estimating the market will end the year with roughly 2.5 million SF of positive absorption.



While landlords continue to push asking rates in the 100,000+ SF properties, rent concessions coupled with stabilized lease rates remain within the smaller product. Landlords are continuing to play it safe by minimizing their vacancy exposure by encouraging tenants to renew.

Direct Vacancy Net Absorption (SF)

14.00% 12.00% 10.00% 8.00% 6.00% 4.00% 2.00% 0.00%

2013 Q2

2013 Q3

2013 Q4

2014 Q1

2014 Q2

Q2 2014 Market Overview by Property Type # of Bldgs

Inventory (SF)

Total Total Available Vacant (SF) (SF)

Total Vacancy Rate (%)

Direct Available (SF)

Direct Vacant (SF)

Direct Vacancy Rate (%)

Available Quarterly Net YTD Net Sublease Absorption Absorption (SF) (SF) (SF)

Light Industrial

1,612

34,854,235

2,551,021

1,910,226

5.5%

2,542,109

1,910,226

5.5%

8,912

63,099

82,781

Manufacturing

440

39,693,369

3,045,722

2,653,240

6.7%

2,835,162

2,442,680

6.2%

210,560

(192,403)

(198,794)

Flex/R&D

288

12,647,127

1,910,693

1,484,989

11.7%

1,841,473

1,435,769

11.4%

69,220

71,806

21,110

1,840,047

99,745

5.4%

99,745

5.4%

Truck Terminal Whse/Dist

1,640 137,183,872 18,655,879 15,196,509

11.1% 18,139,773

15,112,357

11.0%

516,106

1,537,757

1,901,133

Grand Total

4,024 226,218,650 26,263,060 21,344,709

9.4% 25,458,262

21,000,777

9.3%

804,798

1,480,259

1,806,230

Overview by Submarket/ Building Class

Direct Quarterly Total Available YTD Net Total Total Direct Direct Vacant Vacancy Net Vacancy Rate Sublease Absorption Inventory (SF) Rate Absorption Available (SF) Vacant (SF) Available (SF) (SF) (%) (SF) (SF) (%) (SF)

# of Bldgs Illinois North

171

20,820,938

1,632,283

1,304,824

6.3%

1,612,283

1,304,824

6.3%

20,000

140,000

170,000

Light Industrial

857,196

47,653

47,031

5.5%

47,653

47,031

5.5%

Manufacturing

2,309,412

148,834

6.4%

148,834

6.4%

Flex/R&D

53,691

4,862

2,425

4.5%

4,862

2,425

4.5%

Truck Terminal

10,788

0.0%

105

17,589,851

1,430,934

1,106,534

6.3%

1,410,934

1,106,534

6.3%

20,000

140,000

170,000

250

10,983,378

969,455

774,395

7.1%

593,755

563,835

5.1%

375,700

(10,000)

288,462

Light Industrial

134

2,533,067

36,700

1.4%

36,700

1.4%

Manufacturing

1,728,608

261,034

15.1%

50,474

2.9%

210,560

Flex/R&D

256,919

0.0%

Truck Terminal

69,800

0.0%

Whse/Dist

6,394,984

671,721

476,661

7.5%

506,581

476,661

7.5%

165,140

(10,000)

288,462

Mid St Louis County

579

25,455,498

2,510,493

2,219,047

8.7%

2,461,273

2,169,827

8.5%

49,220

291,250

295,664 240,469

Whse/Dist Illinois South

I-64 North

399

18,764,208

2,152,003

1,925,549

10.3%

2,102,783

1,876,329

10.0%

49,220

236,387

Light Industrial

187

3,938,413

311,765

238,172

6.0%

311,765

238,172

6.0%

12,462

(2,246)

Manufacturing

4,462,924

420,848

9.4%

420,848

9.4%

(2,561)

(28,161)

Flex/R&D

1,129,099

220,516

209,172

18.5%

171,296

159,952

14.2%

49,220

14,266

38,449

Truck Terminal

0.0%

136

9,233,772

1,198,874

1,057,357

11.5%

1,198,874

1,057,357

11.5%

212,220

232,427

180

6,691,290

358,490

293,498

4.4%

358,490

293,498

4.4%

54,863

55,195

Light Industrial

102

2,136,049

166,728

115,728

5.4%

166,728

115,728

5.4%

4,000

4,332

Manufacturing

1,119,155

32,855

2.9%

32,855

2.9%

6,245

Flex/R&D

348,030

2,752

0.0%

2,752

0.0%

Truck Terminal

0.0%

3,088,056

156,155

144,915

4.7%

156,155

144,915

4.7%

44,618

572

47,000,977

6,698,695

5,466,371

11.6%

6,605,275

5,418,571

11.5%

93,420

232,893

(16,403)

238

18,776,376

2,797,384

2,378,009

12.7%

2,797,384

2,378,009

12.7%

120,041

2,997

Light Industrial

1,223,169

151,258

127,950

10.5%

151,258

127,950

10.5%

40,460

20,080

Manufacturing

4,792,513

888,261

18.5%

888,261

18.5%

Flex/R&D

1,415,620

19,952

13,249

0.9%

19,952

13,249

0.9%

(3,000)

Whse/Dist I-64 South

Whse/Dist North St Louis County Airport

Truck Terminal Whse/Dist North

211,515

63,915

30.2%

63,915

30.2%

119

11,133,559

1,673,998

1,284,634

11.5%

1,673,998

1,284,634

11.5%

82,581

(14,083)

5,341,781

601,742

478,884

9.0%

533,322

456,084

8.5%

68,420

(3,600)

Light Industrial

575,436

10,008

1.7%

10,008

1.7%

Manufacturing

449,455

56,917

12.7%

56,917

12.7%

Flex/R&D

27,044

6,838

0.0%

6,838

0.0%

Truck Terminal

70,764

35,830

50.6%

35,830

50.6%

4,219,082

492,149

376,129

8.9%

423,729

353,329

8.4%

68,420

(3,600)

Earth City, Riverport

249

22,882,820

3,299,569

2,609,478

11.4%

3,274,569

2,584,478

11.3%

25,000

116,452

(15,800)

Light Industrial

1,557,556

202,711

187,871

12.1%

202,711

187,871

12.1%

12,900

(2,935)

Manufacturing

3,755,610

147,903

0.0%

147,903

0.0%

Flex/R&D

1,346,597

328,557

266,169

19.8%

328,557

266,169

19.8%

556

12,226

Whse/Dist

Truck Terminal Whse/Dist

22,966

0.0%

128

16,200,091

2,620,398

2,155,438

13.3%

2,595,398

2,130,438

13.2%

25,000

102,996

(25,091)

Overview by Submarket/ Building Class [continued]

Direct Quarterly Total Available YTD Net Total Total Direct Direct Vacant Vacancy Net Inventory (SF) Vacancy Rate Sublease Absorption Rate Absorption Available (SF) Vacant (SF) Available (SF) (SF) (%) (SF) (SF) (%) (SF)

# of Bldgs Saint Charles County South

486

23,730,039

1,544,107

951,460

4.0%

1,544,107

951,460

4.0%

15,045

(17,165)

2,429,456

273,129

154,527

6.4%

273,129

154,527

6.4%

(1,032)

Light Industrial

349,318

23,772

13,470

3.9%

23,772

13,470

3.9%

3,375

Manufacturing

569,340

0.0%

Flex/R&D

377,820

84,000

48,000

12.7%

84,000

48,000

12.7%

Truck Terminal Whse/Dist North

0.0%

1,132,978

165,357

93,057

8.2%

165,357

93,057

8.2%

(4,407)

431

21,300,583

1,270,978

796,933

3.7%

1,270,978

796,933

3.7%

16,077

(16,133)

Light Industrial

184

4,589,397

268,593

206,574

4.5%

268,593

206,574

4.5%

5,177

(13,593)

Manufacturing

3,595,310

145,016

8,400

0.2%

145,016

8,400

0.2%

8,900

Flex/R&D

972,623

95,384

73,924

7.6%

95,384

73,924

7.6%

(11,290)

Truck Terminal

378,744

0.0%

Whse/Dist

161

11,764,509

761,985

508,035

4.3%

761,985

508,035

4.3%

2,000

8,750

Saint Louis City

1,059

57,959,527

8,489,296

7,058,535

12.2%

8,288,102

7,058,535

12.2%

201,194

494,862

490,756

513

31,218,474

5,448,949

4,347,730

13.9%

5,328,949

4,347,730

13.9%

120,000

432,913

463,533

Light Industrial

196

3,976,934

383,899

158,188

4.0%

383,899

158,188

4.0%

1,200

25,570

Manufacturing

4,163,673

100,369

2.4%

100,369

2.4%

(16,487)

Flex/R&D

586,456

130,040

22.2%

130,040

22.2%

Truck Terminal

722,790

0.0%

252

21,768,621

4,834,641

3,959,133

18.2%

4,714,641

3,959,133

18.2%

120,000

448,200

454,450

546

26,741,053

3,040,347

2,710,805

10.1%

2,959,153

2,710,805

10.1%

81,194

61,949

27,223

Light Industrial

233

5,597,608

379,124

333,899

6.0%

379,124

333,899

6.0%

(25,598)

(13,816)

Manufacturing

3,018,302

219,511

146,726

4.9%

219,511

146,726

4.9%

(10,400)

Flex/R&D

848,589

58,982

7.0%

58,982

7.0%

575

2,535

217,547

0.0%

243

17,059,007

2,382,730

2,171,198

12.7%

2,301,536

2,171,198

12.7%

81,194

86,972

48,904

432

19,239,138

1,568,615

1,334,123

6.9%

1,568,615

1,334,123

6.9%

398,234

734,079

229

10,245,078

574,051

440,693

4.3%

574,051

440,693

4.3%

387,634

445,799

Light Industrial

2,207,450

179,995

146,720

6.6%

179,995

146,720

6.6%

2,000

12,203

Manufacturing

1,834,620

37,340

2.0%

37,340

2.0%

(4,400)

Flex/R&D

1,112,506

122,879

99,902

9.0%

122,879

99,902

9.0%

16,799

135,133

0.0%

4,955,369

233,837

156,731

3.2%

233,837

156,731

3.2%

368,835

421,197

City North

Whse/Dist City South

Truck Terminal Whse/Dist South St Louis County Fenton

Truck Terminal Whse/Dist South

188

8,279,212

982,564

881,430

10.6%

982,564

881,430

10.6%

10,600

226,171

Light Industrial

1,429,140

82,047

62,047

4.3%

82,047

62,047

4.3%

5,100

19,000

Manufacturing

3,726,820

257,039

232,361

6.2%

257,039

232,361

6.2%

Flex/R&D

89,129

4,465

5.0%

4,465

5.0%

5,500

4,143

Truck Terminal

3,034,123

639,013

582,557

19.2%

639,013

582,557

19.2%

203,028

714,848

12,000

1.7%

12,000

1.7%

62,109

Light Industrial

113,945

12,000

10.5%

12,000

10.5%

Manufacturing

464,341

0.0%

62,109

Flex/R&D

0.0%

Truck Terminal

0.0%

Whse/Dist

136,562

0.0%

Whse/Dist Eureka

Overview by Submarket/ Building Class [continued]

# of Bldgs West St Louis County West

179

6,891,322

560,704

366,656

5.3%

560,704

366,656

5.3%

(7,624)

(41,079)

2,396,343

235,696

125,720

5.2%

235,696

125,720

5.2%

3,000

7,375

Light Industrial

565,968

57,124

9,205

1.6%

57,124

9,205

1.6%

Manufacturing

555,978

14,115

2.5%

14,115

2.5%

205,425

17,932

0.0%

17,932

0.0%

3,000

Flex/R&D Truck Terminal

0.0%

Whse/Dist

1,068,972

146,525

102,400

9.6%

146,525

102,400

9.6%

7,375

Chesterfield

114

4,494,979

325,008

240,936

5.4%

325,008

240,936

5.4%

(10,624)

(48,454)

Light Industrial

1,245,217

53,577

4.3%

53,577

4.3%

(16,000)

(14,000)

Manufacturing

732,327

10,500

0.0%

10,500

0.0%

Flex/R&D

1,386,188

179,186

136,803

9.9%

179,186

136,803

9.9%

14,376

(25,454)

Truck Terminal Whse/Dist Westport

0.0%

1,131,247

81,745

50,556

4.5%

81,745

50,556

4.5%

(9,000)

(9,000) (98,084)

296

14,137,833

2,289,412

1,869,298

13.2%

2,224,148

1,832,946

13.0%

65,264

(74,401)

Light Industrial

1,958,372

184,067

151,086

7.7%

175,155

151,086

7.7%

8,912

18,023

44,811

Manufacturing

2,414,981

305,180

12.6%

305,180

12.6%

(188,500)

(207,700)

Flex/R&D

2,491,391

634,348

441,858

17.7%

614,348

441,858

17.7%

20,000

19,734

(13,298)

Truck Terminal Whse/Dist Grand Total

121

7,273,089

1,165,817

971,174

13.4%

1,129,465

934,822

12.9%

36,352

76,342

78,103

4,024

226,218,650

26,263,060 21,344,709

9.4%

25,458,262

21,000,777

9.3%

804,798 1,480,259

1,806,230

Vacancy & Lease Rates

Direct Vacancy Rate % 2013 Q2

Illinois North Light Industrial Manufacturing Flex/R&D Truck Terminal Whse/Dist Illinois South Light Industrial Manufacturing Flex/R&D Truck Terminal Whse/Dist Mid St Louis County Light Industrial Manufacturing Flex/R&D Truck Terminal Whse/Dist North St Louis County Light Industrial Manufacturing Flex/R&D Truck Terminal Whse/Dist Saint Charles County Light Industrial Manufacturing Flex/R&D Truck Terminal Whse/Dist Saint Louis City Light Industrial Manufacturing Flex/R&D Truck Terminal Whse/Dist

2013 Q3

2013 Q4

Asking Direct Lease Rate (NNN)

2014 Q1 2014 Q2

2013 Q2

2013 Q3

2013 Q4

2014 Q1

2014 Q2

7.30%

7.24%

6.86%

6.93%

6.27%

$4.75

$4.97

$4.73

$4.28

$4.33

21.42%

22.16%

9.03%

5.49%

$0.00

$2.75

2.14%

6.44%

$0.00

4.14%

4.70%

4.52%

$7.50

$8.50

$9.25

$0.00

0.00%

$0.00

8.42%

8.33%

6.88%

7.07%

6.29%

$4.60

$4.16

$4.38

$4.43

16.52%

27.80%

7.66%

5.04%

5.13%

$3.72

$3.89

$3.64

$3.76

$3.75

0.00%

1.45%

$0.00

$4.41

$5.00

42.32%

3.07%

2.92%

$0.00

8.52%

2.80%

0.00%

$5.00

$0.00

0.00%

$0.00

9.18%

25.82%

11.48%

7.30%

7.45%

$3.40

$3.70

$3.37

$3.44

9.62%

10.77%

9.47%

9.67%

8.52%

$5.35

$5.19

$5.12

$5.67

2.16%

0.00%

5.94%

5.83%

$0.00

$5.28

$5.75

11.21%

10.73%

8.19%

8.13%

$3.50

$3.38

$3.45

13.10%

13.15%

14.57%

12.33% 10.83%

$8.35

$8.49

$8.50

$8.39

$8.63

0.00%

$0.00

0.00%

11.84%

9.55%

11.18%

9.48%

14.60%

13.23%

11.54%

9.76%

$4.77

$4.74

$4.49

$4.00

$4.52

11.98% 11.53%

$5.07

$5.21

$5.38

$5.43

$5.57

8.30%

8.43%

11.46%

9.71%

$0.00

$6.13

$6.24

$6.39

16.44%

12.94%

10.50% 10.50%

$4.25

$3.63

$4.11

$6.39

11.23%

9.78%

16.11%

9.74%

7.61%

9.93% 10.02%

$6.82

$6.84

$7.06

$8.10

$7.74

32.68%

32.68% 32.68%

$8.00

14.88%

13.35%

11.58%

12.43% 11.94%

$4.62

$4.74

$4.96

$4.53

$4.56

8.83%

7.28%

3.63%

4.11%

4.01%

$5.63

$5.70

$5.91

$6.04

$6.13

9.61%

7.35%

1.74%

0.00%

4.80%

4.46%

$4.50

$5.33

$6.07

$6.15

0.42%

0.20%

$0.00

$5.50

$4.25

14.64%

13.43%

6.96%

9.03%

$6.50

$6.44

$6.41

$9.34

$8.56

0.00%

$0.00

4.64%

4.66%

$5.13

$5.44

$5.76

$5.23

$5.43

13.17% 12.18%

$4.28

$4.11

$4.14

$3.98

$3.81

8.26%

6.66%

3.90%

17.06%

16.28%

13.24%

7.54%

6.92%

2.50%

5.09%

5.14%

$5.75

$4.53

$3.00

$4.52

$4.53

4.84%

3.49%

3.59%

3.21%

3.44%

$3.04

$3.23

$3.88

$3.67

$3.52

20.64%

17.85%

10.93%

13.21% 13.17%

0.00%

19.25%

18.87%

17.49%

$7.41

$6.70

$7.28

0.00%

$0.00

17.32% 15.79%

$3.86

$3.75

$3.78

$3.45

$3.25

0.00%

Vacancy & Lease Rates [continued]

Direct Vacancy Rate % 2013 Q2

2013 Q3

2013 Q4

Asking Direct Lease Rate (NNN)

2014 Q1 2014 Q2

2013 Q2

2013 Q3

2013 Q4

2014 Q1

2014 Q2

South St Louis County Light Industrial Manufacturing Flex/R&D Truck Terminal Whse/Dist West St Louis County Light Industrial Manufacturing Flex/R&D Truck Terminal Whse/Dist Westport Light Industrial Manufacturing Flex/R&D Truck Terminal Whse/Dist

11.11%

11.35%

10.43%

9.00%

6.93%

2.17%

0.00%

1.98%

5.99%

5.89%

0.16%

0.11%

0.00%

4.48%

9.93%

6.83%

7.55%

11.01%

8.69%

0.00%

12.98%

13.70%

12.81%

13.64%

9.10%

$5.79

$5.78

$6.12

$5.33

$5.64

4.06%

4.09%

5.00%

5.17%

5.32%

$8.88

$8.51

$8.75

$8.71

$8.36

2.24%

2.48%

3.20%

3.37%

3.47%

$10.08

$11.75

$7.72

$7.58

0.00%

1.36%

1.10%

$0.00

$7.50

$6.75

1.56%

1.42%

3.10%

10.21%

8.60%

$9.85

$10.02

$9.95

$9.21

0.00%

$0.00

5.97%

5.94%

6.99%

5.86%

6.95%

$7.84

$7.53

$7.55

$3.90

$7.57

12.20%

12.81%

11.84%

11.52% 12.96%

$6.18

$6.35

$6.47

$6.76

$6.67

12.40%

13.25%

12.81%

Grand Total

12.41%

12.29%

10.01%

$6.32

$6.29

$6.54

$6.38

$7.95

$10.90

$6.72

$6.29

$10.48

$0.00

$4.84

$7.43

$7.32

$7.26

$8.28

$8.22

$0.00

0.00%

8.46%

7.71%

$0.00

$5.80

$6.00

10.06%

3.43%

4.83% 12.64%

$5.50

$7.25

$6.33

$6.38

13.70%

14.04%

14.30%

18.83% 17.74%

$7.59

$7.47

$7.57

$8.08

$8.00

0.00%

$0.00

0.00%

12.12% 12.85% 9.91%

9.28%

$4.98

$5.35

$5.41

$5.31

$5.12

$5.45

$5.52

$5.68

$5.70

$5.74

Vacancy & Lease Rates [continued]

Asking Lease Rate Range by Type (NNN) $25.00

Asking Lease Rate (NNN)

$20.00

$15.95

$15.00

$10.00

$10.95

$10.50 $8.17

$6.01 $5.00

$8.00

$5.20 $2.80

$4.49 $3.00

$1.00

$0.00 Light Industrial

Manufacturing

Flex/R&D

Truck Terminal

Whse/Dist

Biggest Absorption Changes

Property Name

SF Occupied or Vacated

Company Name

Market

Type

South St Louis County

Whse/Dist

2171-2231 Hitzert Ct

433,520

Wainwright Industries

Globe Warehouse

272,192

ﾃ［erco Real Estate Company (U-Haul)

Saint Louis City

Whse/Dist

5221 Natural Bridge Ave

181,000

5221 Natural Bridge LLC (Chemline Inc)

Saint Louis City

Whse/Dist

8462-8506 Delport Dr

169,443

CHEP

Mid St Louis County

Whse/Dist

9150 Latty Ave

142,364

Davidson Air

North St Louis County

Whse/Dist

117-119 N Industrial Dr

140,000

World Wide Technology

Illinois North

Whse/Dist

North St Louis County

Whse/Dist

DukePort VIII

98,480

SSM Health Care

10876 Metro Ct

80,945

Prisim Medical Center

Westport

Whse/Dist

Post Dispatch

-50,724

St Louis Post Dispatch

Westport

Whse/Dist

13205-13295 Lakefront Dr

-52,000

Ponytime LLC

North St Louis County

Whse/Dist

Brown Campus 2

-59,783

Overland Contracting

North St Louis County

Whse/Dist

Westport

Manufacturing

Former Coke Bottling Plant

-188,500

Coca-Cola

Available Space

Largest Blocks of Available Space 35

Illinois North

Illinois South

Mid St Louis County

North St Louis County

Saint Charles County

100K+

50-100K

Saint Louis City

South St Louis County

West St Louis County

Westport

25-50K

Quarter

100K+

50-100K

25-50K

2013 Q2

129

2013 Q3

122

2013 Q4

128

2014 Q1

135

2014 Q2

126

Notable Transactions

Key Lease Transactions Property Name

SF Leased

Company Name

Market

Type

Gateway Distribution Center I

216,379

Unilever

Illinois North

Whse/Dist

1659 Sauget Industrial

202,019

Stellar Manufacturing

Illinois South

Whse/Dist

9150 Latty Ave

142,364

Davidson Surface/ Air

North St Louis County

Whse/Dist

117-119 N Industrial Dr

140,000

World Wide Technology

Illinois North

Whse/Dist

10876 Metro Ct

80,945

Prisim Medical Center

Westport

Whse/Dist

Key Sale Transactions Property Name

SF Sold

Company Name

Market

Type

5221 Natural Bridge Ave

181,000

5221 Natural Bridge LLC

Saint Louis City

Whse/Dist

1110-1132 Reco Ave

96,236

Manfried Investments LLC

South St Louis County

Manufacturing

Daley International

80,651

JRM Property Investors LLC

Saint Louis City

Manufacturing

505 S 22nd St

65,476

Jvcs LLC

Illinois South

Whse/Dist

1600 & 1623 Macklind Ave

60,000

The Metropolitan St Louis Sewer District

Saint Louis City

Whse/Dist

Vacancy & Absorption

Net Absorption by Type

Vacancy Rate by Type 11.7%

12.0%

11.1%

10.0%

8.0% 6.0%

5.5%

6.7%

5.4%

4.0%

2.0% 0.0%

Net Absorption (SF)

Vacancy Rate (%)

14.0%

Vacancy Rate (%)

12%

$5.95

12.5%

10.2%

10%

10.1%

9.4%

8% 6% 4% 2%

Net Absorption (SF)

12.8%

1,537,75 7

Whse/Dist Asking Rates

Vacancy Rate by Quarter 14%

1,800,000 1,600,000 1,400,000 1,200,000 1,000,000 800,000 600,000 400,000 71,806 200,000 63,099 0 (200,000) (192,403) (400,000)

$5.89

$5.90 $5.84

$5.85

$5.82

$5.80 $5.75 $5.70

$5.71 $5.67

$5.65

$5.60 $5.55

2013 Q2

2013 Q3

2013 Q4

2014 Q1

2014 Q2

2013 Q2

2013 Q3

2013 Q4

2014 Q1

2014 Q2

Xceligent St Louis Contact This information has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy.

For additional information about this report or to discuss membership in Xceligent please contact

Bonnie Devine (314) 452-3059 bdevine@xceligent.com

Kevin Talbot (847) 910-7155 ktalbot@xceligent.com Steig Seaward

(303) 888-3177 sseaward@xceligent.com