Los Angeles County industrial market, 2nd quarter 2007.

Los Angeles County Industrial Market, 2nd Quarter 2007

                             Total         Vacant     Vacancy Rate
                           Inventory        Space        2nd Qtr.
Market                    (square ft.)   (square ft.)      2007

Central L.A.              301,825,687     3,137,991        1.0%
Mid-Cities                121,798,508     2,902,589        2.4%
North Los Angeles **      181,033,700     4,194,407        2.3%
San Gabriel Valley        184,457,896     2,981,257        1.6%
South Bay                 220,778,872     4,739,585        2.1%
L.A. County Total       1,009,894,663    17,955,829        1.8%

                          Vacancy Rate                     Under
                           1st Qtr.       2nd Qtr.      Construction
Market                       2007           2006        (square ft.)

Central L.A.                 1.2%           1.3%           287,827
Mid-Cities                   2.2%           2.4%           330,460
North Los Angeles **         2.4%           2.1%         1,401,281
San Gabriel Valley           1.8%           1.5%         1,221,919
South Bay                    1.8%           2.2%           476,762
L.A. County Total            1.8%           1.8%         3,718,249

                                     Sold & Leased (square ft.)

                           2nd Qtr.       1st Qtr.       2nd Qtr.
Market                       2007           2007           2006

Central L.A.               1,798,702      1,616,327      2,743,764
Mid-Cities                 1,063,263      1,960,223      1,508,574
North Los Angeles **       1,570,615      1,560,750      2,879,010
San Gabriel Valley         2,707,542      1,148,547      1,107,864
South Bay                  3,479,023      2,922,276      3,293,856
L.A. County Total         10,619,145      9,208,123     11,533,068

                                         Asking Rent (3)

                           2nd Qtr.       1st Qtr.       2nd Qtr.
Market                       2007           2007           2006

Central L.A.                 $0.54          $0.55          $0.55
Mid-Cities                   $0.57          $0.55          $0.59
North Los Angeles **         $0.71          $0.70          $0.67
San Gabriel Valley           $0.57          $0.56          $0.52
South Bay                    $0.63          $0.65          $0.66
L.A. County Total            $0.60          $0.61          $0.60

(1) Net Absorption is the change in occupied space for a given period
of time, excluding sublet space and renewals.

(2) Average monthly, per-square-foot rents.

(3) Average monthly, triple-net rents.

Due to the transfer of owner/occupied space to competitively leasable
space and/or the delivery of new construction in the market,
discrepancies may occur in the relation between vacancy rates and net
absorption. Source: Grubb a Ellis Co.