Rent Comparables

Rent Comparables Office - 1st Quarter 2012

Office a t a D n o e i l r t p o u m F b a i S t r o t N s i D

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Reis Services, LLC 530 Fifth Avenue, 5th Floor, New York, NY 10036. Questions? Call 1-800-366-REIS Prepared by Michael Rizzo Rent Comparables Clearly Objective. RentOffice Comparables - 1st Quarter 2012 2100 ROSS2100 ROSS AVE AVE 2100 Ross Ave,DALLAS, Dallas, TX --75201 07/20/2012

SUBJECT PROPERTY

Subject Property Location Subject Property Statistics Address 2100 Ross Ave Property Type Office City Dallas Year Built 1982 State TX Size (SF) 843,728 ZIP 75201 Asking Rent $20.09 Metro Dallas Vacancy 30.9% Submarket Dallas CBD a Latitude 32.78757 Longitude -96.79823 t COMPARABLE GROUP MARKET SUMMARY Comparable Group Summarya Statistics Low Mean Median High Current Asking Rent/SF $14.95D$21.22 $18.81 $32.67 n Current Vacancy Rate 0.0% 25.1% 27.6% 58.6% Operating Expenses/SF $5.85 $7.85 $6.99 $10.86 o Real Estate Taxes/SF $1.93 $2.96 $2.88 $4.80 Property Size (SF) 273,000 801,463 774,718 1,248,230 Yeare Built 1973 1981 1981 1987 i l r As of 3/31/12 t p LEASEo TERMS u Average Submarket Lease Terms Contract Rent Discount -6.4% m Free RentF (months/lease) 2.2 b Lease Length (years) 4.5 a Tenant Improvements/SF $22.42i Commissions 6.1% S t rAs of 3/31/12 o t N s i D

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Copyright 2012 This report has been generated for the exclusive use of Michael Rizzo of Reis SE Employee Account Reis Services, LLC The use, distribution and display of this report and any of the information contained herein are subject to the Terms and Conditions at ReisReports.com. Prepared by Michael Rizzo Rent Comparables Clearly Objective. RentOffice Comparables - 1st Quarter 2012 2100 ROSS2100 ROSS AVE AVE 2100 Ross Ave,DALLAS, Dallas, TX --75201 07/20/2012 COMPARABLE GROUP LOCATION

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1 Name Chase Tower Current Asking Rent/SF $32.67 Address 2200 Ross Ave Current Vacancy Rate 14.9% City Dallas Distance from Subject (miles) 0.05 State TX Property Size (SF) 1,248,230 ZIP 75204 aFloors 55 County Dallas Year Built 1987 Submarket Dallas CBD Class A t Data As Of 3/31/12

2 a Name Trammell Crow Center Current Asking Rent/SF $28.38 Address 2001 Ross Ave D Current Vacancy Rate 27.6% n City Dallas Distance from Subject (miles) 0.07 State TX Property Size (SF) 1,128,331 ZIP 75201 Floors 50 o County Dallas Year Built 1984 Submarket Dallas CBD e Class A i l r Data As Of 3/31/12t 3 Name St Paul Place Current Asking Rent/SF $18.01 Address 750p N Saint Paul St o Current Vacancy Rateu38.1% City Dallas Distance from Subject (miles) 0.14 StatemTX F Propertyb Size (SF) 273,000 ZIP 75201 Floors 22 aCounty Dallas i Year Built 1983 Submarket Dallas CBD Class A S t r Data As Of 3/31/12 4 Name Kpmgo Center t Current Asking Rent/SF $16.01 Address 717 N Harwood St Current Vacancy Rate 27.7% CityNDallas s Distance from Subject (miles) 0.15 State TX Property Size (SF) 827,704 ZIP 75201 i Floors 34 County Dallas Year Built 1980 Submarket Dallas CBD Class A D Data As Of 3/31/12

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5 Name Plaza of Americas North Current Asking Rent/SF $19.06 Address 700 N Pearl St Current Vacancy Rate 31.7% City Dallas Distance from Subject (miles) 0.15 State TX Property Size (SF) 524,000 ZIP 75201 aFloors 25 County Dallas Year Built 1980 Submarket Dallas CBD Class BC t Data As Of 3/31/12

6 a Name Plaza of the Americas South Current Asking Rent/SF $19.03 Address 600 N Pearl St D Current Vacancy Rate 26.5% n City Dallas Distance from Subject (miles) 0.21 State TX Property Size (SF) 516,000 ZIP 75201 Floors 25 o County Dallas Year Built 1979 Submarket Dallas CBD e Class BC i l r Data As Of 3/31/12t 7 Name Harwood Center Current Asking Rent/SF $18.59 Address 1999p Bryan St o Current Vacancy Rateu39.7% City Dallas Distance from Subject (miles) 0.21 StatemTX F Propertyb Size (SF) 721,732 ZIP 75201 Floors 36 aCounty Dallas i Year Built 1982 Submarket Dallas CBD Class A S t r Data As Of 3/31/12 8 Name Bryano Tower t Current Asking Rent/SF $19.09 Address 2001 Bryan St Current Vacancy Rate 22.3% CityNDallas s Distance from Subject (miles) 0.21 State TX Property Size (SF) 1,064,210 ZIP 75201 i Floors 40 County Dallas Year Built 1973 Submarket Dallas CBD Class A D Data As Of 3/31/12

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9 Name Patriot Towers Current Asking Rent/SF $14.97 Address 350 N Saint Paul St Current Vacancy Rate 58.6% City Dallas Distance from Subject (miles) 0.26 State TX Property Size (SF) 604,423 ZIP 75201 aFloors 30 County Dallas Year Built 1979 Submarket Dallas CBD Class BC t Data As Of 3/31/12

10 a Name Lincoln Plaza Current Asking Rent/SF $14.95 Address 500 N Akard St D Current Vacancy Rate 0.0% n City Dallas Distance from Subject (miles) 0.29 State TX Property Size (SF) 1,107,000 ZIP 75201 Floors 45 o County Dallas Year Built 1984 Submarket Dallas CBD e Class A i l r Data As Of 3/31/12t p o u m F b a i S t r o t N s i D

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Subject Property Location Address: Street address of the property as defined by the user. City: The city in which the property is located as defined by the user. State: The state in which the property is located as defined by the user. ZIP: ZIP code in which the property is located as defined by the user. Metro: The Metropolitan Statistical Area in which the property is located as defined by its address Submarket: The submarket in which the property is located as defined by its address. Submarkets with insufficient inventory for reporting purposes are excluded. a Subject Property Stats t Property Type: Primary property use as defined by the user. Year Built: Year of construction as defined by the user. Size: Property's total square feet of gross leaseable space. a Latitude: Property's latitude based upon street address. Longitude: Property's longitude based upon street address.D n Comp Group Summary Stats Current Asking Rent: The weighted average gross annual rent per square foot. Current Vacancy Rate: Amount of available space expressed as a percentage of total square footage. o Operating Expenses: Annual cost, per square foot, of operating commercial buildings. Includes property taxes, energy, janitorial service, insurance, general maintenance and management Real Estate Taxes: Annual expense, pere square foot, for the real estate property tax. i Property Size: Gross leaseable area in square feet. Year Built: Year of completed construction. Low: Minimum value for the selectedl peer group. r t Mean: Arithmetic average value for the selected peer group. Median: The 50th percentile value for the selected peer group. High: Maximum valuep for the selected peer group. o u Avg. Submarketm Lease Terms F b Contract Rent Discount: The average percentage discount offered by building owners/managers in this submarket from the asking rent to final negotiated base rent for new leases. Free Rent:a The average free rent concession in this submarket expressedi as the number of months over the lease term for new leases. Lease Length: The average term (in years) currently being quoted for new leases in this submarket. STenant Improvements: The averaget value granted to a new tenantr by an owner for work done on previously occupied space in this submarket, expressed as dollars per square foot per lease term for new leases. Commissions: The average commission paid to leasing agents in this submarket, expressed as a percentage of market rent for newleases.o t Comp Group NListing s Name: Name of peer building. Address: Street address of peer. City: City in which the peer is located. i State: The state in which the peer is located. ZIP: ZIP Code in which the peer is located. County: County in which the peerD is located. Submarket: Reis defined submarket in which the peer is located. SubID: Reis code for the applicable submarket.

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Current Asking Rent: Average asking gross rent for the peer property as of the most recent quarterly update to this peer's record of information. Current Vacancy Rate: Amount of space available for lease expressed as a percentage of total leasable area as of the most recent quarterly update to this peer's record of information. Distance from Subject: Distance, in miles, from the peer property to the subject property. Property Size: Total leaseable area of the peer in square feet. Floors: Number of floors in the peer. Year Built: Year in which the peer was built. a Class: Reis-defined class category for the peer. Data as of: Reis's most recent quarterly update to this peer's record of tinformation. a D n o e i l r t p o u m F b a i S t r o t N s i D

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Copyright 2012 This report has been generated for the exclusive use of Michael Rizzo of Reis SE Employee Account Reis Services, LLC The use, distribution and display of this report and any of the information contained herein are subject to the Terms and Conditions at ReisReports.com. WIN MORE BUSINESS OBJECTIVE AND VERIFIED CRE DATA AT YOUR FINGERTIPS

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YOUR SUBSCRIPTION INCLUDES: » Reports from all sectors in your choice of 200 metros and 2,100 submarkets » 5 detailed property reports per month, each report contains up to 10 sales comps, 10 rent comps, and a detailed metro and submarket analysis

Rent Comps: Sales Comps: Market Analysis: • Asking rents • Sale price • Metro & submarket data • Vacancy rates • Cap rates • Rent growth trends • Concession data • Buyer • Vacancy rate trends • Lease terms • Seller • Inventory growth • Operating expenses • Financing Terms • Construction & absorption

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Reis Services, LLC 530 Fifth Avenue, 5th Floor, New York, NY 10036. Questions? Call 1-800-366-REIS