Northeast Ohio Industrial Snap Shot

1. Market Size
Total square feet in the industrial market equals 299,371,198.

2. Overall occupancy
88.9% occupancy

3. Available SF
33,226,163 square feet

4. Absorption for 2009
(1,376,239 square feet)

5. Historical Average Absorption
2008—1,708,432
2007—1,533,866
2006—4,625,433
2005—6,884,086
2004—5,727,082
2003—3,029,652

6. Construction in the market
Currently under construction, there is 460,000 square feet in the southeast market.

7. Notable market activity (big deals, big exits, announcements, anything that has had or will have a big effect on market activity)
• Automobile companies closing down plants and facilities. Chrylser plant in Twinsburg is vacating 2,400,000 square feet of manufacturing space.
• Out of state company moving to Glenwillow (southeast) in 2010 into 180,000 square feet.

8. Sales activity
Slow. Since January 1, 2009, there have been 57 industrial transactions over $1,000,000.

9. Cap rate trends
9%--10% and higher

10. Who is in the market, what are they looking for any why?
• Out of state company moving to Glenwillow (southeast) in 2010 into 180,000 square feet. Combining offices into a central location.
• Medical Specialties—35,000 square feet, southeast market. Looking for better rates
• International client—40,000 square feet, southeast market, 35-ton crane. Need a Midwest presence.

11. Variations between submarkets, any unusually good or bad?
East of 77 has much more activity.