PIPELINE SILICON VALLEY EDITION OFFICE/R&D Table of Contents

NEW DEVELOPMENT PIPELINE SILICON VALLEY EDITION OFFICE/R&D Table of Contents

Silicon Valley Summary Silicon Valley Map Palo Alto Mountain View Sunnyvale Santa Clara San Jose West Valley

COLLIERS INTERNATIONAL NEW DEVELOPMENT PIPELINE 2 SILICON VALLEY JULY 2016 Silicon Valley Development Summary Palo Alto Palo Alto Project Developer Total Project Size Project Status 1 1050 Page Mill Road Sand Hill Properties 287,980 Seeking Entitlements 2 University Plaza Sobrato/TMG 214,052 Under Construction (SPEC) 3 Park Plaza Harold Hobach 152,091 Under Construction (SPEC) 4 3251 Hanover Street Sand Hill Properties 115,500 Seeking Entitlements 5 VMware CSG Building Stanford University 100,000 Seeking Entitlements 6 3170 Porter Avenue Stanford University 98,000 Entitled 7 VMware HTG Building Stanford University 86,000 Seeking Entitlements 8 1450 Page Mill Road Stanford University 77,199 Under Construction (SPEC) Mountain View 9 Mayfield Office Building Minkoff Group 63,746 Under Construction (SPEC) 10 College Terrace PCS Realty Advisors 52,504 Under Construction (BTS) 11 441 Page Mill Road Norm Schwab 35,521 Entitled 12 400 Cambridge Avenue Cambridge Investments LLC 35,000 Seeking Entitlements 13 2755 El Camino Real Jay Paul 33,323 Seeking Entitlements 14 2747 Park Boulevard Pollock Financial Group 33,000 Seeking Entitlements Sunnyvale 15 3045 Park Boulevard Jay Paul 29,120 Seeking Entitlements 16 550 High Street Keenan Land Company 28,085 Shell Complete 17 2555 Park Avenue Tarlton Properties, Inc 24,466 Seeking Entitlements 18 636 Waverley Street D2 Realty Services 10,300 Under Construction (BTS) 19 MacArthur Park Arrillaga/Stanford TBD Planning Stages Total Potential Development 1,475,887

Mountain View Project Developer Total Project Size Project Status Santa Clara 1 Shoreline Commons LinkedIn & SyWest 1,500,000 Seeking Entitlements 2 Bay View Campus Google 1,100,000 Entitled 3 The 700 Centre Google 1,045,600 Seeking Entitlements 4 LinkedIn Main Campus HCP, Inc 800,000 Planning Stages 5 Microsoft Campus Mission West 643,000 Seeking Entitlements 6 Charleston East Google 595,000 Seeking Entitlements 7 The Village at San Antonio Merlone Geier Partners 456,600 Under Construction (BTS) San Jose 8 Intuit Campus Intuit 364,000 Under Construction (BTS) 9 1625 Plymouth Street Broadreach Capital Partners 224,508 Seeking Entitlements 10 750 Moffett Broadreach Capital Partners 217,000 Seeking Entitlements 11 Bayfront Park Project Rees Properties 190,876 Seeking Entitlements 12 580-620 Clyde Avenue Renault & Handley 190,000 Entitled 13 The Quad Keenan Lovewell Ventures 180,773 Entitled 14 600 National Avenue National Avenue Partners 150,988 Under Construction (SPEC) 15 1001 Shoreline Carlyle/Calvano Development 132,690 Under Construction (BTS) West Valley West 16 599 Castro Street Sobrato Development 102,918 Entitled 17 1075 Terra Bella Calvano Development 14,043 Seeking Entitlements Total Potential Development 7,907,996

Sunnyvale Project Developer COLLIERSTotal Project INTERNATIONAL Size Project NEW Status DEVELOPMENT PIPELINE 1 Moffett Place Jay Paul SILICON1,944,132 VALLEY Shell Complete/Entitled JULY 2016 3 2 Moffett Towers II Jay Paul 1,797,385 Entitled 3 Pastoria & Maude Avenue Irvine Company 1,432,043 Seeking Entitlements 4 Central Sunnyvale Campus Jay Paul 770,000 Under Construction (BTS) 5 684 West Maude Avenue Simeon Commercial 652,000 Seeking Entitlements 6 Moffett Gateway Jay Paul 593,484 Shell Complete 7 1050 Kifer Avenue Intuitive Surgical 560,731 Seeking Entitlements 8 Java Metro Center CB Global Investors 387,192 Shell Complete / Entitled 9 Mathilda Commons JP DiNapoli 341,104 Seeking Entitlements 10 Yahoo Campus Yahoo, Inc 316,000 Entitled 11 237 Moffett Park Drive Four Corners 260,000 Under Construction (SPEC) 12 Mathilda Research Center Common Wealth REIT 248,259 Entitled 13 520 Almanor Avenue Lane Partners 230,000 Entitled 14 445 North Mary Avenue Jay Paul 171,734 Seeking Entitlements 15 675 Almanor Avenue Dollinger Properties 168,520 Seeking Entitlements 16 221 Mathilda Avenue Spear Street Capital 128,224 Seeking Entitlements 17 265 Sobrante Way Sobrante Properties, LLC 120,740 Seeking Entitlements 18 1212 Bordeaux Drive CBRE Global Investors 100,091 Seeking Entitlements 19 505 Almanor Avenue Invesco 90,000 Entitled 20 Sunnyvale Town Center JP Morgan 84,691 Entitled 21 623 North Pastoria Avenue George Yagmourian 56,106 Seeking Entitlements Total Potential Development 10,452,436

Santa Clara Project Developer Total Project Size Project Status 1 Related Santa Clara Related Company 5,700,000 Entitled 2 4850 Old Ironsides Drive LeEco 3,000,000 Entitled 3 The Campus @ 3333 Menlo Equities 1,226,500 Under Construction (BTS) 4 Santa Clara Square The Irvine Company 1,055,000 Under Construction (SPEC) 5 NVidia Campus Nvidia 1,000,000 Under Construction(BTS)/Entitled 6 4301 Great America Parkway Sobrato Development 1,018,000 Seeking Entitlements 7 Campus at Lawson Lane Sobrato Development 360,000 Entitled 8 3000 Bowers Avenue Sobrato Development 331,902 Entitled 9 24Hundred @ Mission South Bay Development/PCCP 300,000 Under Construction (SPEC)/Entitled 10 Stadium Tech Center Deutsche Asset & Wealth Mgmt. 221,173 Shell Complete 11 4800 Great America Parkway Sobrato Development 170,000 Shell Complete 12 5409 Stevens Creek Boulevard Peery & Arrillaga 108,000 Entitled 13 3303 Scott Boulevard Toeniskoetter Real Estate 83,590 Shell Complete Total Potential Development 14,574,165

San Jose Project Developer Total Project Size Project Status 1 Green Valley Research Park Coyote Valley Research Park LLC 4,400,000 Entitled 2 Apple Campus II Apple, Inc 4,150,000 Shell Complete/Entitled 3 2890 North First Street Boston Properties 1,560,000 Entitled 4 Coleman Highline Hunter/Storm 1,500,000 Under Construction (SPEC)/Entitled 5 Brokaw @ North First Peery/Arrillaga 1,000,000 Entitled 6 Destination Diridon Trammel Crow/Bentall Kennedy 1,000,000 Entitled 7 Santana West Federal Realty Investment Trust 969,000 Seeking Entitlements 8 The Plaza at Almaden Boston Properties 840,000 Entitled 9 HUB@DTSJ City of San Jose 750,000 Entitled 10 333 West San Fernando Street DiNapoli Company 700,000 Planning Stages 11 The Offices at Santana Row Federal Realty Investment Trust 700,000 Under Construction (SPEC)/Entitled 12 America Center Phase II & III USAA Real Estate Company 684,022 Under Construction(SPEC)/Entitled 13 237 @ First South Bay 614,809 Shell Complete/Entitled 14 Santa Teresa Research Park Sobrato Development 566,000 Seeking Entitlements 15 Innovation Plaza Broadcom Corp. 493,000 Entitled 16 Midpoint @ 237 Gemdale/Lincoln Properties 415,000 Entitled 17 SJSC Towers SJSC Properties LLC 350,000 Seeking Entitlements 18 Rail Yard Place Insight Realty 250,702 Planning Stages 19 @ First Phase II Hunter Storm/Brocade 249,814 Entitled 20 Museum Place Insight Realty 208,241 Entitled 21 Cadence Center Cadence Design 208,000 Planning Stages 22 River Corporate Center Sobrato Development 190,000 Entitled 23 eBay Phase II eBay 187,585 Planning Stages Total Potential Development 21,986,173

West Valley Project Developer Total Project Size Project Status 1 Apple Spaceship Apple Inc. 3,325,000 Under Construction (BTS) 2 North 40 Grosvenor 350,000 Entitled 3 The Grove CBRE Global Investors 242,500 Under Construction (SPEC) 4 Cupertino City Center Prometheus 200,000 Seeking Entitlements 5 Creekside @ 17 South Bay Development 175,579 Entitled 6 The Pruneyard Ellis Partners 100,000 Seeking Entitlements Total Potential Development 4,393,079

Mountain View Project Developer Total Project Size Project Status 1 Shoreline Commons LinkedIn & SyWest 1,500,000 Seeking Entitlements 2 Bay View Campus Google 1,100,000 Entitled 3 The 700 Centre Google 1,045,600 Seeking Entitlements 4 LinkedIn Main Campus HCP, Inc 800,000 Planning Stages 5 Microsoft Campus Mission West 643,000 Seeking Entitlements 6 Charleston East Google 595,000 Seeking Entitlements 7 The Village at San Antonio Merlone Geier Partners 456,600 Under Construction (BTS) 8 Intuit Campus Intuit 364,000 Under Construction (BTS) 9 1625 Plymouth Street Broadreach Capital Partners 224,508 Seeking Entitlements 10 750 Moffett Broadreach Capital Partners 217,000 Seeking Entitlements 11 Bayfront Park Project Rees Properties 190,876 Seeking Entitlements 12 580-620 Clyde Avenue Renault & Handley 190,000 Entitled 13 The Quad Keenan Lovewell Ventures 180,773 Entitled 14 600 National Avenue National Avenue Partners 150,988 Under Construction (SPEC) 15 1001 Shoreline Carlyle/Calvano Development 132,690 Under Construction (BTS) 16 599 Castro Street Sobrato Development 102,918 Entitled 17 1075 Terra Bella Calvano Development 14,043 Seeking Entitlements Silicon Valley DevelopmentTotal Potential Development Summary7,907,996 Sunnyvale Project Developer Total Project Size Project Status 1 Moffett Place Jay Paul 1,944,132 Shell Complete/Entitled 2 Moffett Towers II Jay Paul 1,797,385 Entitled 3 Pastoria & Maude Avenue Irvine Company 1,432,043 Seeking Entitlements 4 Central Sunnyvale Campus Jay Paul 770,000 Under Construction (BTS) 5 684 West Maude Avenue Simeon Commercial 652,000 Seeking Entitlements 6 Moffett Gateway Jay Paul 593,484 Shell Complete 7 1050 Kifer Avenue Intuitive Surgical 560,731 Seeking Entitlements 8 Java Metro Center CB Global Investors 387,192 Shell Complete / Entitled 9 Mathilda Commons JP DiNapoli 341,104 Seeking Entitlements 10 Yahoo Campus Yahoo, Inc 316,000 Entitled 11 237 Moffett Park Drive Four Corners 260,000 Under Construction (SPEC) 12 Mathilda Research Center Common Wealth REIT 248,259 Entitled 13 520 Almanor Avenue Lane Partners 230,000 Entitled 14 445 North Mary Avenue Jay Paul 171,734 Seeking Entitlements 15 675 Almanor Avenue Dollinger Properties 168,520 Seeking Entitlements 16 221 Mathilda Avenue Spear Street Capital 128,224 Seeking Entitlements 17 265 Sobrante Way Sobrante Properties, LLC 120,740 Seeking Entitlements 18 1212 Bordeaux Drive CBRE Global Investors 100,091 Seeking Entitlements 19 505 Almanor Avenue Invesco 90,000 Entitled 20 Sunnyvale Town Center JP Morgan 84,691 Entitled 21 623 North Pastoria Avenue George Yagmourian 56,106 Seeking Entitlements Total Potential Development 10,452,436

San Jose Project Developer Total Project Size Project Status 1 Green Valley Research Park Coyote Valley Research Park LLC 4,400,000 Entitled COLLIERS2 INTERNATIONALApple Campus NEW DEVELOPMENTII PIPELINEApple, Inc 4,150,000 Shell Complete/Entitled 3 2890 North First Street Boston Properties 1,560,000 Entitled 4 SILICON VALLEY JULY 2016 4 Coleman Highline Hunter/Storm 1,500,000 Under Construction (SPEC)/Entitled 5 Brokaw @ North First Peery/Arrillaga 1,000,000 Entitled 6 Destination Diridon Trammel Crow/Bentall Kennedy 1,000,000 Entitled 7 Santana West Federal Realty Investment Trust 969,000 Seeking Entitlements 8 The Plaza at Almaden Boston Properties 840,000 Entitled 9 HUB@DTSJ City of San Jose 750,000 Entitled 10 333 West San Fernando Street DiNapoli Company 700,000 Planning Stages 11 The Offices at Santana Row Federal Realty Investment Trust 700,000 Under Construction (SPEC)/Entitled 12 America Center Phase II & III USAA Real Estate Company 684,022 Under Construction(SPEC)/Entitled 13 237 @ First South Bay 614,809 Shell Complete/Entitled 14 Santa Teresa Research Park Sobrato Development 566,000 Seeking Entitlements 15 Innovation Plaza Broadcom Corp. 493,000 Entitled 16 Midpoint @ 237 Gemdale/Lincoln Properties 415,000 Entitled 17 SJSC Towers SJSC Properties LLC 350,000 Seeking Entitlements 18 Rail Yard Place Insight Realty 250,702 Planning Stages 19 @ First Phase II Hunter Storm/Brocade 249,814 Entitled 20 Museum Place Insight Realty 208,241 Entitled 21 Cadence Center Cadence Design 208,000 Planning Stages 22 River Corporate Center Sobrato Development 190,000 Entitled 23 eBay Phase II eBay 187,585 Planning Stages Total Potential Development 21,986,173

Silicon Valley Development Summary Total Square Footage Shell Complete 2,732,348 Under Construction (SPEC) 3,151,045 Under Construction (BTS) 6,648,294 Entitled 34,003,053 Seeking Entitlements 12,108,709 Planning Stages 2,146,287 Total Potential Development 60,789,736 Palo Alto Project Developer Total Project Size Project Status Palo1 Alto Project1050 Page Mill Road DeveloperSand Hill Properties Total287,980 Project Size ProjectSeeking StatusEntitlements 12 1050University Page PlazaMill Road SandSobrato/TMG Hill Properties 287,980214,052 SeekingUnder Construction Entitlements (SPEC) 23 UniversityPark Plaza Plaza Sobrato/TMGHarold Hobach 214,052152,091 Under Construction (SPEC) 34 Park3251 Plaza Hanover Street HaroldSand Hill Hobach Properties 152,091115,500 UnderSeeking Construction Entitlements (SPEC) 45 3251VMware Hanover CSG Building Street SandStanford Hill UniversityProperties 115,500100,000 Seeking Entitlements 56 VMware3170 Porter CSG Avenue Building Stanford University 100,00098,000 SeekingEntitled Entitlements 67 3170VMware Porter HTG Avenue Building Stanford University 98,00086,000 EntitledSeeking Entitlements 78 VMware1450 Page HTG Mill Building Road Stanford University 86,00077,199 SeekingUnder Construction Entitlements (SPEC) 89 1450Mayfield Page Office Mill RoadBuilding StanfordMinkoff Group University 77,19963,746 Under Construction (SPEC) 910 MayfieldCollege Terrace Office Building MinkoffPCS Realty Group Advisors 63,74652,504 Under Construction (SPEC)(BTS) 1011 College441 Page Terrace Mill Road PCSNorm Realty Schwab Advisors 52,50435,521 UnderEntitled Construction (BTS) 1112 441400 CambridgePage Mill Road Avenue NormCambridge Schwab Investments LLC 35,52135,000 EntitledSeeking Entitlements 1213 4002755 Cambridge El Camino AvenueReal CambridgeJay Paul Investments LLC 35,00033,323 Seeking Entitlements 1314 27552747 ElPark Camino Boulevard Real JayPollock Paul Financial Group 33,32333,000 Seeking Entitlements 1415 27473045 Park Boulevard PollockJay Paul Financial Group 33,00029,120 Seeking Entitlements 1516 3045550 High Park Street Boulevard JayKeenan Paul Land Company 29,12028,085 SeekingShell Complete Entitlements 1617 5502555 High Park Street Avenue KeenanTarlton Properties,Land Company Inc 28,08524,466 ShellSeeking Complete Entitlements 1718 2555636 Waverley Park Avenue Street TarltonD2 Realty Properties, Services Inc 24,46610,300 SeekingUnder Construction Entitlements (BTS) 1819 636MacArthur Waverley Park Street D2Arrillaga/Stanford Realty Services 10,300TBD UnderPlanning Construction Stages (BTS) 19 MacArthur Park Arrillaga/StanfordTotal Potential Development TBD1,475,887 Planning Stages Total Potential Development 1,475,887 Mountain View Project Developer Total Project Size Project Status Mountain1 View ProjectShoreline Commons DeveloperLinkedIn & SyWest Total1,500,000 Project Size ProjectSeeking StatusEntitlements 12 ShorelineBay View CampusCommons LinkedInGoogle & SyWest 1,500,0001,100,000 SeekingEntitled Entitlements 23 BayThe View700 Centre Campus Google 1,100,0001,045,600 EntitledSeeking Entitlements 34 TheLinkedIn 700 CentreMain Campus GoogleHCP, Inc 1,045,600800,000 SeekingPlanning Entitlements Stages 45 LinkedInMicrosoft Main Campus Campus HCP,Mission Inc West 800,000643,000 PlanningSeeking Entitlements Stages 56 MicrosoftCharleston Campus East MissionGoogle West 643,000595,000 Seeking Entitlements 67 CharlestonThe Village Eastat San Antonio GoogleMerlone Geier Partners 595,000456,600 SeekingUnder Construction Entitlements (BTS) 78 TheIntuit Village Campus at San Antonio MerloneIntuit Geier Partners 456,600364,000 Under Construction (BTS) 89 Intuit1625 PlymouthCampus Street IntuitBroadreach Capital Partners 364,000224,508 UnderSeeking Construction Entitlements (BTS) 910 1625750 Moffett Plymouth Street Broadreach Capital Partners 224,508217,000 Seeking Entitlements 1011 750Bayfront Moffett Park Project BroadreachRees Properties Capital Partners 217,000190,876 Seeking Entitlements 1112 Bayfront580-620 ClydePark Project Avenue ReesRenault Properties & Handley 190,876190,000 SeekingEntitled Entitlements 1213 580-620The Quad Clyde Avenue RenaultKeenan Lovewell& Handley Ventures 190,000180,773 Entitled 1314 The600 QuadNational Avenue KeenanNational Lovewell Avenue PartnersVentures 180,773150,988 EntitledUnder Construction (SPEC) 1415 6001001 National Shoreline Avenue NationalCarlyle/Calvano Avenue Development Partners 150,988132,690 Under Construction (SPEC)(BTS) 1516 1001599 Castro Shoreline Street Carlyle/CalvanoSobrato Development Development 132,690102,918 UnderEntitled Construction (BTS) 1617 5991075 Castro Terra StreetBella SobratoCalvano Development 102,91814,043 EntitledSeeking Entitlements 17 1075 Terra Bella CalvanoTotal Potential Development Development 14,0437,907,996 Seeking Entitlements Total Potential Development 7,907,996 Sunnyvale Project Developer Total Project Size Project Status Sunnyvale1 ProjectMoffett Place DeveloperJay Paul Total1,944,132 Project Size ProjectShell Complete/Entitled Status 12 Moffett TowersPlace II Jay Paul 1,944,1321,797,385 ShellEntitled Complete/Entitled 23 MoffettPastoria Towers& Maude II Avenue JayIrvine Paul Company 1,797,3851,432,043 EntitledSeeking Entitlements 34 PastoriaCentral Sunnyvale & Maude CampusAvenue IrvineJay Paul Company 1,432,043770,000 SeekingUnder Construction Entitlements (BTS) 45 Central684 West Sunnyvale Maude Avenue Campus JaySimeon Paul Commercial 770,000652,000 UnderSeeking Construction Entitlements (BTS) 56 684Moffett West Gateway Maude Avenue SimeonJay Paul Commercial 652,000593,484 SeekingShell Complete Entitlements 67 Moffett1050 Kifer Gateway Avenue JayIntuitive Paul Surgical 593,484560,731 ShellSeeking Complete Entitlements 78 1050Java Metro Kifer Avenue Center IntuitiveCB Global Surgical Investors 560,731387,192 SeekingShell Complete Entitlements / Entitled 89 JavaMathilda Metro Commons Center CBJP DiNapoli Global Investors 387,192341,104 ShellSeeking Complete Entitlements / Entitled 910 MathildaYahoo Campus Commons JPYahoo, DiNapoli Inc 341,104316,000 SeekingEntitled Entitlements 1011 Yahoo237 Moffett Campus Park Drive Yahoo,Four Corners Inc 316,000260,000 EntitledUnder Construction (SPEC) 1112 237Mathilda Moffett Research Park Drive Center FourCommon Corners Wealth REIT 260,000248,259 UnderEntitled Construction (SPEC) 1213 Mathilda520 Almanor Research Avenue Center CommonLane Partners Wealth REIT 248,259230,000 Entitled 1314 520445 AlmanorNorth Mary Avenue Avenue LaneJay Paul Partners 230,000171,734 EntitledSeeking Entitlements 1415 445675 AlmanorNorth Mary Avenue Avenue JayDollinger Paul Properties 171,734168,520 Seeking Entitlements 1516 675221 AlmanorMathilda AvenueAvenue DollingerSpear Street Properties Capital 168,520128,224 Seeking Entitlements 1617 221265 MathildaSobrante AvenueWay SpearSobrante Street Properties, Capital LLC 128,224120,740 Seeking Entitlements 1718 2651212 Sobrante Bordeaux Way Drive SobranteCBRE Global Properties, Investors LLC 120,740100,091 Seeking Entitlements 1819 1212505 Almanor Bordeaux Avenue Drive CBREInvesco Global Investors 100,09190,000 SeekingEntitled Entitlements 1920 505Sunnyvale Almanor Town Avenue Center InvescoJP Morgan 90,00084,691 Entitled 2021 Sunnyvale623 North PastoriaTown Center Avenue JPGeorge Morgan Yagmourian 84,69156,106 EntitledSeeking Entitlements 21 623 North Pastoria Avenue GeorgeTotal Potential Yagmourian Development 56,10610,452,436 Seeking Entitlements Total Potential Development 10,452,436 Santa Clara Project Developer Total Project Size Project Status Santa1 Clara ProjectRelated Santa Clara DeveloperRelated Company Total5,700,000 Project Size ProjectEntitled Status 12 Related4850 Old Santa Ironsides Clara Drive RelatedLeEco Company 5,700,0003,000,000 Entitled 23 4850The Campus Old Ironsides @ 3333 Drive LeEcoMenlo Equities 3,000,0001,226,500 EntitledUnder Construction (BTS) 34 TheSanta Campus Clara Square @ 3333 MenloThe Irvine Equities Company 1,226,5001,055,000 Under Construction (BTS)(SPEC) 45 SantaNVidia Clara Campus Square TheNvidia Irvine Company 1,055,0001,000,000 Under ConstructionConstruction(BTS)/Entitled (SPEC) 56 NVidia4301 Great Campus America Parkway NvidiaSobrato Development 1,000,0001,018,000 UnderSeeking Construction(BTS)/Entitled Entitlements 67 4301Campus Great at Lawson America Lane Parkway Sobrato Development 1,018,000360,000 SeekingEntitled Entitlements 78 Campus3000 Bowers at Lawson Avenue Lane Sobrato Development 360,000331,902 Entitled 89 300024Hundred Bowers @ Avenue Mission SobratoSouth Bay Development Development/PCCP 331,902300,000 EntitledUnder Construction (SPEC)/Entitled 910 24HundredStadium Tech @ CenterMission SouthDeutsche Bay Asset Development/PCCP & Wealth Mgmt. 300,000221,173 UnderShell Complete Construction (SPEC)/Entitled 1011 Stadium4800 Great Tech America Center Parkway DeutscheSobrato Development Asset & Wealth Mgmt. 221,173170,000 Shell Complete 1112 48005409 GreatStevens America Creek BoulevardParkway SobratoPeery & ArrillagaDevelopment 170,000108,000 ShellEntitled Complete 1213 54093303 ScottStevens Boulevard Creek Boulevard PeeryToeniskoetter & Arrillaga Real Estate 108,00083,590 EntitledShell Complete 13 3303 Scott Boulevard ToeniskoetterTotal Potential Real Development Estate 83,59014,574,165 Shell Complete Total Potential Development 14,574,165 SanSilicon Jose Project Valley DevelopmentDeveloper SummaryTotal Project Size Project Status San1 Jose ProjectGreen Valley Research Park DeveloperCoyote Valley Research Park LLC Total4,400,000 Project Size ProjectEntitled Status 12 GreenApple CampusValley Research II Park CoyoteApple, Inc Valley Research Park LLC 4,400,0004,150,000 EntitledShell Complete/Entitled 23 Apple2890 North Campus First II Street Apple,Boston Inc Properties 4,150,0001,560,000 ShellEntitled Complete/Entitled 34 2890Coleman North Highline First Street BostonHunter/Storm Properties 1,560,0001,500,000 EntitledUnder Construction (SPEC)/Entitled 45 ColemanBrokaw @ Highline North First Hunter/StormPeery/Arrillaga 1,500,0001,000,000 UnderEntitled Construction (SPEC)/Entitled 56 BrokawDestination @ North Diridon First Peery/ArrillagaTrammel Crow/Bentall Kennedy 1,000,000 Entitled 67 DestinationSantana West Diridon TrammelFederal Realty Crow/Bentall Investment Kennedy Trust 1,000,000969,000 EntitledSeeking Entitlements 78 SantanaThe Plaza West at Almaden FederalBoston PropertiesRealty Investment Trust 969,000840,000 SeekingEntitled Entitlements 89 TheHUB@DTSJ Plaza at Almaden BostonCity of San Properties Jose 840,000750,000 Entitled 910 HUB@DTSJ333 West San Fernando Street CityDiNapoli of San Company Jose 750,000700,000 EntitledPlanning Stages 1011 333The OfficesWest San at FernandoSantana Row Street DiNapoliFederal Realty Company Investment Trust 700,000 PlanningUnder Construction Stages (SPEC)/Entitled 1112 TheAmerica Offices Center at Santana Phase IIRow & III FederalUSAA Real Realty Estate Investment Company Trust 700,000684,022 Under ConstructionConstruction(SPEC)/Entitled (SPEC)/Entitled 1213 America237 @ First Center Phase II & III USAASouth RealBay Estate Company 684,022614,809 UnderShell Complete/Entitled Construction(SPEC)/Entitled 1314 237Santa @ Teresa First Research Park SouthSobrato Bay Development 614,809566,000 ShellSeeking Complete/Entitled Entitlements 1415 SantaInnovation Teresa Plaza Research Park SobratoBroadcom Development Corp. 566,000493,000 SeekingEntitled Entitlements 1516 InnovationMidpoint @ Plaza 237 BroadcomGemdale/Lincoln Corp. Properties 493,000415,000 Entitled 1617 MidpointSJSC Towers @ 237 Gemdale/LincolnSJSC Properties LLC Properties 415,000350,000 EntitledSeeking Entitlements 1718 SJSCRail Yard Towers Place SJSCInsight Properties Realty LLC 350,000250,702 SeekingPlanning Entitlements Stages 1819 Rail@ First Yard Phase Place II InsightHunter RealtyStorm/Brocade 250,702249,814 PlanningEntitled Stages 1920 @Museum First Phase Place II HunterInsight RealtyStorm/Brocade 249,814208,241 Entitled 2021 MuseumCadence CenterPlace InsightCadence Realty Design 208,241208,000 EntitledPlanning Stages 2122 CadenceRiver Corporate Center Center CadenceSobrato Development Design 208,000190,000 PlanningEntitled Stages 2223 RivereBay PhaseCorporate II Center SobratoeBay Development 190,000187,585 EntitledPlanning Stages 23 eBay Phase II eBayTotal Potential Development 187,58521,986,173 Planning Stages Total Potential Development 21,986,173 West Valley Project Developer Total Project Size Project Status West1 Valley ProjectApple Spaceship DeveloperApple Inc. Total3,325,000 Project Size ProjectUnder Construction Status (BTS) 12 AppleNorth Spaceship40 AppleGrosvenor Inc. 3,325,000350,000 UnderEntitled Construction (BTS) 23 NorthThe Grove 40 GrosvenorCBRE Global Investors 350,000242,500 EntitledUnder Construction (SPEC) 34 TheCupertino Grove City Center CBREPrometheus Global Investors 242,500200,000 UnderSeeking Construction Entitlements (SPEC) 45 CupertinoCreekside @City 17 Center PrometheusSouth Bay Development 200,000175,579 SeekingEntitled Entitlements 56 CreeksideThe Pruneyard @ 17 SouthEllis Partners Bay Development 175,579100,000 EntitledSeeking Entitlements 6 The Pruneyard TotalEllis Partners Potential Development 4,393,079100,000 Seeking Entitlements Total Potential Development 4,393,079 Silicon Valley Development Summary Total Square Footage SiliconShell Complete Valley Development Summary Total2,732,348 Square Footage ShellUnder Complete Construction (SPEC) 2,732,3483,151,045 Under Construction (SPEC)(BTS) 3,151,0456,648,294 UnderEntitled Construction (BTS) 6,648,29434,003,053 EntitledSeeking Entitlements 34,003,05312,108,709 SeekingPlanning Entitlements Stages 12,108,7092,146,287 PlanningTotal Potential Stages Development 2,146,28760,789,736 Total Potential Development COLLIERS INTERNATIONAL60,789,736 NEW DEVELOPMENT PIPELINE SILICON VALLEY JULY 2016 5 Palo Alto Development Summary Total Square Footage Under Construction (BTS) 52,504 Palo Alto Development Summary Under Construction (SPEC) 517,388 Palo Alto Development Summary Total Square Footage Entitled 133,521 Under Construction (BTS) 52,504 Seeking Entitlements 744,389 Under Construction (SPEC) 517,388 Shell Complete 28,085 Entitled 133,521 Total Potential Development 1,475,887 Seeking Entitlements 744,389 Mountain View Development Summary Shell Complete 28,085 Mountain View Development Summary Total Square Footage Total Potential Development 1,475,887 Under Construction (BTS) 774,290 Under Construction (SPEC) 150,988 Mountain View Development Summary Total Square Footage Entitled 1,752,691 Under Construction (BTS) 774,290 Seeking Entitlements 4,430,027 Under Construction (SPEC) 150,988 Planning Stages 800,000 Entitled 1,752,691 Total Potential Development 7,907,996 Seeking Entitlements 4,430,027 Palo Alto Development Summary Total Square Footage Planning Stages 800,000 Sunnyvale Development Summary Under Construction (BTS) 52,504 Total Square Footage Total Potential Development 7,907,996 Shell Complete 1,741,800 Under Construction (SPEC) 517,388 Palo Alto Development Summary Total Square Footage Under Construction (BTS) 770,000 Entitled 133,521 Under Construction (BTS) 52,504 Sunnyvale Development Summary Total Square Footage Under Construction (SPEC) 260,000 Seeking Entitlements 744,389 Under Construction (SPEC) 517,388 Shell Complete 1,741,800 Entitled 3,949,343 Shell Complete 28,085 Entitled 133,521 Under Construction (BTS) 770,000 Seeking Entitlements 3,731,293 Total Potential Development 1,475,887 Seeking Entitlements 744,389 Under Construction (SPEC) 260,000 Total Potential Development 10,452,436 Entitled 3,949,343 Shell Complete 28,085 Mountain View Development Summary Total Square Footage Total Potential Development 1,475,887 Seeking Entitlements 3,731,293 Santa Clara Development Summary Total Square Footage Total Potential Development 10,452,436 Under Construction (BTS) 774,290 Shell Complete Palo Alto474,763 Development Summary Total Square Footage Under Construction (SPEC) 150,988 Mountain View Development Summary Total Square Footage Under Construction (BTS) Under1,726,500 Construction (BTS) 52,504 Santa Clara Development Summary Total Square FootageEntitled 1,752,691 Under Construction (BTS) 774,290 Under Construction (SPEC) Under1,205,000 Construction (SPEC) 517,388 Shell Complete 474,763 Seeking Entitlements 4,430,027 Under Construction (SPEC) 150,988 Entitled Entitled10,149,902 133,521 Under Construction (BTS) 1,726,500 Planning Stages 800,000 Entitled 1,752,691 Seeking Entitlements Seeking1,018,000 Entitlements 744,389 Under Construction (SPEC) 1,205,000 Total Potential Development 7,907,996 Seeking Entitlements 4,430,027 Total Potential Development Shell14,574,165 Complete 28,085 Entitled 10,149,902 Planning Stages 800,000 Sunnyvale Development Summary Total Potential Development 1,475,887 Sunnyvale Development Summary Total Square Footage Total Potential Development 7,907,996 Seeking Entitlements 1,018,000 San Jose Development Summary Total Square Footage Total Potential Development 14,574,165 Shell Complete 1,741,800 Shell Complete Mountain487,700 View Development Summary Total Square Footage Under Construction (BTS) 770,000 Sunnyvale Development Summary Total Square Footage Under Construction (SPEC) Under775,169 Construction (BTS) 774,290 San Jose Development Summary Total Square FootageUnder Construction (SPEC) 260,000 Shell Complete 1,741,800 Entitled Under17,492,017 Construction (SPEC) 150,988 Shell Complete 487,700 Entitled 3,949,343 Under Construction (BTS) 770,000 Seeking Entitlements Entitled1,885,000 1,752,691 Under Construction (SPEC) 775,169 Seeking Entitlements 3,731,293 Under Construction (SPEC) 260,000 Planning Stages Seeking1,346,287 Entitlements 4,430,027 Entitled 17,492,017 Total Potential Development 10,452,436 Entitled 3,949,343 Total Potential Development Planning21,986,173 Stages 800,000 Seeking Entitlements 1,885,000 Seeking Entitlements 3,731,293 Total Potential Development 7,907,996 Santa Clara Development Summary Total Square Footage Total Potential Development 10,452,436 Planning Stages 1,346,287 West Valley Development Summary Total Square Footage Total Potential Development 21,986,173 Shell Complete 474,763 Under Construction (BTS) Sunnyvale3,325,000 Development Summary Total Square Footage Under Construction (BTS) 1,726,500 SantaSanta Clara Clara Development Development Summary Summary Total Square Footage Under Construction (SPEC) Shell Complete242,500 1,741,800 West Valley Development Summary Total Square FootageUnder Construction (SPEC) 1,205,000 Shell Complete 474,763 Entitled Under525,579 Construction (BTS) 770,000 Under Construction (BTS) 3,325,000 Entitled 10,149,902 Under Construction (BTS) 1,726,500 Seeking Entitlements Under300,000 Construction (SPEC) 260,000 Under Construction (SPEC) 242,500 Seeking Entitlements 1,018,000 Under Construction (SPEC) 1,205,000 Total Potential Development Entitled4,393,079 3,949,343 Entitled 525,579 Total Potential Development 14,574,165 Entitled 10,149,902 Seeking Entitlements 3,731,293 Seeking Entitlements 300,000 Seeking Entitlements 1,018,000 Total Potential Development 10,452,436 Total Potential Development 4,393,079 San Jose Development Summary Total Square Footage Total Potential Development 14,574,165 Shell Complete 487,700 Santa Clara Development Summary Total Square Footage Under Construction (SPEC) 775,169 San Jose Development Summary Total Square Footage Shell Complete 474,763 Entitled 17,492,017 Shell Complete 487,700 Under Construction (BTS) 1,726,500 Seeking Entitlements 1,885,000 Under Construction (SPEC) 775,169 Under Construction (SPEC) 1,205,000 Planning Stages 1,346,287 Entitled 17,492,017 Entitled 10,149,902 Total Potential Development 21,986,173 Seeking Entitlements 1,885,000 Seeking Entitlements 1,018,000 Planning Stages 1,346,287 Total Potential Development 14,574,165 West Valley Development Summary Total Square Footage Total Potential Development 21,986,173 Under Construction (BTS) 3,325,000 San Jose Development Summary Total Square Footage Under Construction (SPEC) 242,500 West Valley Development Summary Total Square Footage Shell Complete 487,700 Entitled 525,579 Under Construction (BTS) 3,325,000 Under Construction (SPEC) 775,169 Seeking Entitlements 300,000 Under Construction (SPEC) 242,500 Entitled 17,492,017 Total Potential Development 4,393,079 Entitled 525,579 Seeking Entitlements 1,885,000 Seeking Entitlements 300,000 Planning Stages 1,346,287 Total Potential Development 4,393,079 Total Potential Development 21,986,173

WestWest Valley Valley Development Development Summary Summary Total Square Footage Under Construction (BTS) 3,325,000 Under Construction (SPEC) 242,500 Entitled 525,579 Seeking Entitlements 300,000 Total Potential Development 4,393,079 Silicon Valley Development Summary

Palo Alto Development Summary Total Square Footage Under Construction (BTS) 52,504 Under Construction (SPEC) 517,388 Entitled 133,521 Seeking Entitlements 744,389 Shell Complete 28,085 Total Potential Development 1,475,887

Mountain View Development Summary Total Square Footage Under Construction (BTS) 774,290 Under Construction (SPEC) 150,988 Entitled 1,752,691 Seeking Entitlements 4,430,027 Planning Stages 800,000 Total Potential Development 7,907,996

Sunnyvale Development Summary Total Square Footage Shell Complete 1,741,800 Under Construction (BTS) 770,000 Under Construction (SPEC) 260,000 Entitled 3,949,343 Seeking Entitlements 3,731,293 Total Potential Development 10,452,436

Santa Clara Development Summary Total Square Footage Shell Complete 474,763 Under Construction (BTS) 1,726,500 Under Construction (SPEC) 1,205,000 Entitled 10,149,902 Seeking Entitlements 1,018,000 Total Potential Development 14,574,165

SanSan Jose Jose Development Development Summary Summary Total Square Footage Shell Complete 487,700 Under Construction (SPEC) 775,169 Entitled 17,492,017 Seeking Entitlements 1,885,000 Planning Stages 1,346,287 Total Potential Development 21,986,173

West Valley Development Summary Total Square Footage Under Construction (BTS) 3,325,000 Under Construction (SPEC) 242,500 Entitled 525,579 Seeking Entitlements 300,000 Total Potential Development 4,393,079 Palo Alto Palo Alto Project Developer Total Project Size Project Status 1 1050 Page Mill Road Sand Hill Properties 287,980 Seeking Entitlements 2 University Plaza Sobrato/TMG 214,052 Under Construction (SPEC) 3 Park Plaza Harold Hobach 152,091 Under Construction (SPEC) 4 3251 Hanover Street Sand Hill Properties 115,500 Seeking Entitlements 5 VMware CSG Building Stanford University 100,000 Seeking Entitlements 6 3170 Porter Avenue Stanford University 98,000 Entitled 7 VMware HTG Building Stanford University 86,000 Seeking Entitlements 8 1450 Page Mill Road Stanford University 77,199 Under Construction (SPEC) 9 Mayfield Office Building Minkoff Group 63,746 Under Construction (SPEC) 10 College Terrace PCS Realty Advisors 52,504 Under Construction (BTS) 11 441 Page Mill Road Norm Schwab 35,521 Entitled 12 400 Cambridge Avenue Cambridge Investments LLC 35,000 Seeking Entitlements 13 2755 El Camino Real Jay Paul 33,323 Seeking Entitlements 14 2747 Park Boulevard Pollock Financial Group 33,000 Seeking Entitlements 15 3045 Park Boulevard Jay Paul 29,120 Seeking Entitlements 16 550 High Street Keenan Land Company 28,085 Shell Complete 17 2555 Park Avenue Tarlton Properties, Inc 24,466 Seeking Entitlements 18 636 Waverley Street D2 Realty Services 10,300 Under Construction (BTS) 19 MacArthur Park Arrillaga/Stanford TBD Planning Stages Total Potential Development 1,475,887 COLLIERS INTERNATIONAL NEW DEVELOPMENT PIPELINE Mountain View Project Developer Total Project Size Project Status 8 SILICON SILICON VALLEY VALLEY PALO ALTO JULY 2016 1 Shoreline Commons LinkedIn & SyWest 1,500,000 Seeking Entitlements 2 Bay View Campus Google 1,100,000 Entitled 3 The 700 Centre Google 1,045,600 Seeking Entitlements 4 LinkedIn Main Campus HCP, Inc 800,000 Planning Stages 5 Microsoft Campus Mission West 643,000 Seeking Entitlements 6 Charleston East Google 595,000 Seeking Entitlements 7 The Village at San Antonio Merlone Geier Partners 456,600 Under Construction (BTS) 8 Intuit Campus Intuit 364,000 Under Construction (BTS) 9 1625 Plymouth Street Broadreach Capital Partners 224,508 Seeking Entitlements 10 750 Moffett Broadreach Capital Partners 217,000 Seeking Entitlements 11 Bayfront Park Project Rees Properties 190,876 Seeking Entitlements 12 580-620 Clyde Avenue Renault & Handley 190,000 Entitled 13 The Quad Keenan Lovewell Ventures 180,773 Entitled 14 600 National Avenue National Avenue Partners 150,988 Under Construction (SPEC) 15 1001 Shoreline Carlyle/Calvano Development 132,690 Under Construction (BTS) 16 599 Castro Street Sobrato Development 102,918 Entitled 17 1075 Terra Bella Calvano Development 14,043 Seeking Entitlements Total Potential Development 7,907,996

Sunnyvale Project Developer Total Project Size Project Status 1 Moffett Place Jay Paul 1,944,132 Shell Complete/Entitled 2 Moffett Towers II Jay Paul 1,797,385 Entitled 3 Pastoria & Maude Avenue Irvine Company 1,432,043 Seeking Entitlements 4 Central Sunnyvale Campus Jay Paul 770,000 Under Construction (BTS) 5 684 West Maude Avenue Simeon Commercial 652,000 Seeking Entitlements 6 Moffett Gateway Jay Paul 593,484 Shell Complete 7 1050 Kifer Avenue Intuitive Surgical 560,731 Seeking Entitlements 8 Java Metro Center CB Global Investors 387,192 Shell Complete / Entitled 9 Mathilda Commons JP DiNapoli 341,104 Seeking Entitlements 10 Yahoo Campus Yahoo, Inc 316,000 Entitled 11 237 Moffett Park Drive Four Corners 260,000 Under Construction (SPEC) 12 Mathilda Research Center Common Wealth REIT 248,259 Entitled 13 520 Almanor Avenue Lane Partners 230,000 Entitled 14 445 North Mary Avenue Jay Paul 171,734 Seeking Entitlements 15 675 Almanor Avenue Dollinger Properties 168,520 Seeking Entitlements 16 221 Mathilda Avenue Spear Street Capital 128,224 Seeking Entitlements 17 265 Sobrante Way Sobrante Properties, LLC 120,740 Seeking Entitlements 18 1212 Bordeaux Drive CBRE Global Investors 100,091 Seeking Entitlements 19 505 Almanor Avenue Invesco 90,000 Entitled 20 Sunnyvale Town Center JP Morgan 84,691 Entitled 21 623 North Pastoria Avenue George Yagmourian 56,106 Seeking Entitlements Total Potential Development 10,452,436

18 Mountain View 19 15

EMBARCADERO RD Sunnyvale

EL CAMINO REAL

SAND HILL ROAD

OREGON EXPRESSWAY 17 14

3 Santa Clara 12 9 10 15 13 11

1 San Jose

PAGE MILL EXPRESSWAY SAN ANTONIO ROAD West Valley West

COLLIERS INTERNATIONAL NEW DEVELOPMENT PIPELINE SILICON VALLEY PALO ALTO JULY 2016 9

5 7 Palo Alto

11 22 33 44

ProjectProject Name Name University Square Park Plaza VMware CSG Building VMmware HTG Building Mayfield Office Building College Terrace Centre 1050 Page Mill Road University Plaza Park Plaza 3251 Hanover Street 3170 Porter Avenue 1450 Page Mill Road 441 Page Mill Road 400 Cambridge Avenue 2747 Park Boulevard Address 2100 University Avenue 195 Page Mill Road 908 Arastradero Road 3421 Hillview Avenue 385 Sherman Avenue 2100 El Camino Real Address 1050 Page Mill Road 2100 University Avenue 195 Page Mill Road 3251 Hanover Street Developer Sand Hill Properties Sobrato/TMG Harold Hobach Sand Hill Properties Stanford University Stanford University Stanford University Stanford University Minkoff Group PCS Realty Advisors Norm Schwab Cambridge Investments LLC Jay Paul Total Project Size 287,980 214,052 152,091 115,500 100,000 98,000 86,000 77,199 63,746 52,504 35,521 35,000 33,323 Number of Bldgs 4 2 1 1 2 1 1 1 1 1 1 1 1 Divisible to 66,070 50,000 43,740 115,500 N/A 98,000 N/A 35,000 20,200 13,000 11,000 8,000 11,000 Acreage 13.5 2.75 2.41 10.17 69.5 9.12 36.01 3.42 0.61 1.4 0.62 0.40 1.53 FAR (Coverage) 48% 178% 145% 40% TBD 25% TBD 52% 188% 100% 131% 200% 50% # of Floors 2 4 3 2 2 2 2 2 3 3 3 3 3 Size of Floors 37,500 55,000 47,917 55,000 50,000 49,000 43,000 40,000 21,000 13,000 - 25,000 11,840 9,000 - 15,000 11,000 Parking Ratio 3.3 3.2 TBD 3.86 TBD TBD TBD 3.2 TBD 3.8 2.6 1.6 4.0 Parking Structured & Underground Structured & Underground Underground Surface & Underground TBD TBD TBD Surface & Underground Underground Underground Surface & Underground Surface Surface Rental Rate $7.25 NNN $3.75 NNN $6.25 NNN TBD TBD TBD TBD $6.70 NNN $8.00 FS $6.50 NNN TBD TBD TBD Shell Warm Warm Warm TBD TBD TBD TBD Warm Warm Warm Warm TBD TBD T.I. Allowance $50.00 $35.00 TBD TBD TBD TBD TBD $50.00 $40.00 $40.00 TBD TBD TBD Project Status Seeking Entitlements Under Construction (SPEC) Under Construction (SPEC) Seeking Entitlements Seeking Entitlements Entitled Seeking Entitlements Under Construction (SPEC) Under Construction (SPEC) Under Construction (BTS) Entitled Seeking Entitlements Seeking Entitlements Comments Revised plans submitted to the city in Phase I will include one four-story ±152,091 square-foot mixed-use The application seeks to replace two This is a new 2-story commercial New two-story core and shell This is a new two-story commercial Two-story Class A office/R&D facility. New three-story, ±63,746 square Just one block south of Stanford Proposal for a new three-story mixed- Proposal for the renovation of two New Class 'A' office building within the spring 2014. Core and shell ±214,052 square foot building and a building. The building is inclusive of R&D buildings totaling ±110,000 with structure with approximately commercial building ±98,000 square structure with approximately Shell Construction equivalent to LEED feet Class A office building with University and two blocks from the use building with one level of existing buildings and the demolition walking distance to California Avenue would be complete 12 months after 2-level bridge connecting the secured 82 residential rental units in one new office/R&D building of the ±100,00 square feet of office space feet with below grade parking ±86,000 square feet of office space Gold. Designed to accommodate rooftop terrace, all on top of a California Avenue shopping district. underground parking. Project would of one, to construct one ±35,000 CalTrain station. Developer at one construction commencement. No parking structure to the building. ±104,174 square feet on the 2nd and same size. The project would also with a gym. The project has gone ±75,000 square feet. Build-to-suit with a commercial kitchen. The rooftop photovoltaic array. Target subterranean parking structure. The mixed-use development will include retail on the first floor, square foot building. The project is time had a proposal to build a new official pricing, but expect north of Capable of LEED Gold certification. 3rd floors with ±47,917 square feet include a ±5,500 square foot through two rounds of review and deal. The total value of the 12-year project has gone through two rounds core and shell delivery Q4 2016. Demolition of exsiting industrial include ±52,504 square feet of Class offices on the second floor, and within the California Avenue police station for the city on this $7.00 NNN. Machine Zone currently Phase II would allow for expansion of ground floor commercial research ammenity building. At some time in four of eight departments have deal is $96 million. Jazz expects to of review and four of eight Preleased by Infosys Technologies building began June 2015. Estimated 'A' office over an underground sixteen apartments on the second Business District and would offer site. occupies the existing project and has up to± 400,000 square feet. Spec and development, but inclusive of up the future the developer plans to approved the project. pay about $17 million into for build- departments have approved the August 2015. completion date is Q1 2017. garage. The site will also house retail and third floors. Three units would onsite bicycle parking. intent to lease the new project construction began Q2 2015. to ±2,400 square feet of ground floor submit an application for a second out. The project is in plan check with project. Preleased by VISA International space including one grocery tenant be sold below market rate. Council pending approval. retail. Expected completion Q1 2016. building of ±70,000 square feet to 9 of 9 departments approved. November 2015. and a free-standing apartment has pushed back on the developer to A portion of the available achieve the full 0.4 FAR allowed on Permit is ready to issue. building of eight 1-bedroom decrease the density. commercial space has been the site. residential units. Office portion was COLLIERS INTERNATIONAL NEW DEVELOPMENT PIPELINE preleased by eShares. preleased by First Republic Bank. 10 SILICON VALLEY PALO ALTO JULY 2016 Palo Alto Palo Alto

5 6 77 88 Mountain View

Project Name University Square Park Plaza Project NameName VMwareVMware CSGCSG Building Building UniversityJazz Pharmaceuticals Square Campus ParkVMmwareVMWare Plaza HTG HTG Building Building VMwareMayfield CSG Office Building Building College Terrace Centre VMmware HTG Building Mayfield Office Building College Terrace Centre 1050 Page Mill Road 3251 Hanover Street 1050 Page Mill Road 3170 Porter Avenue 32511450 HanoverPage Mill Street Road 3170 Porter Avenue 441 Page Mill Road 1450400 Cambridge Page Mill Road Avenue 2747 Park Boulevard 441 Page Mill Road 400 Cambridge Avenue 2747 Park Boulevard Address 2100 University Avenue 195 Page Mill Road Address 908 Arastradero Road 2100 University Avenue 1953421 Page Hillview Mill RoadAvenue 908385 ArastraderoSherman Avenue Road 2100 El Camino Real 3421 Hillview Avenue 385 Sherman Avenue 2100 El Camino Real Address 908 Arastradero Road 3170 Porter Avenue 3421 Hillview Avenue 1450 Page Mill Road Developer Sand Hill Properties Sobrato/TMG Harold Hobach Sand Hill PropertiesDeveloper SandStanford Hill PropertiesUniversity Sobrato/TMGStanford University HaroldStanford Hobach University SandStanford Hill PropertiesUniversity StanfordMinkoffSunnyvale GroupUniversity StanfordPCS Realty University Advisors StanfordNorm Schwab University StanfordCambridge University Investments LLC MinkoffJay Paul Group PCS Realty Advisors Norm Schwab Cambridge Investments LLC Jay Paul Total Project Size 287,980 214,052 152,091 115,500 Total Project Size 287,980100,000 214,05298,000 152,09186,000 115,50077,199 100,00063,746 98,00052,504 86,00035,521 77,19935,000 63,74633,323 52,504 35,521 35,000 33,323 Number of Bldgs 4 2 1 1 Number of Bldgs 42 21 11 11 21 11 11 11 11 1 1 1 1 Divisible to 66,070 50,000 43,740 115,500 Divisible to 66,070N/A 50,00098,000 43,740N/A 115,50035,000 N/A20,200 98,00013,000 N/A11,000 35,0008,000 20,20011,000 13,000 11,000 8,000 11,000 Acreage 13.5 2.75 2.41 10.17 Acreage 13.569.5 2.759.12 2.4136.01 10.173.42 69.50.61 9.121.4 36.010.62 3.420.40 0.611.53 1.4 0.62 0.40 1.53 FAR (Coverage) 48% 178% 145% 40% FAR (Coverage) 48%TBD 178%25% 145%TBD 40%52% TBD188% 25%100% TBD131% 52%200% 188%50% 100% 131% 200% 50% # of Floors 2 4 3 2 # of Floors 22 42 32 22 23 23 23 23 33 3 3 3 3 Size of Floors 37,500 55,000 47,917 55,000 Size of Floors 37,50050,000 55,00049,000 47,91743,000 55,00040,000 50,00021,000Santa Clara 49,00013,000 - 25,000 43,00011,840 40,0009,000 - 15,000 21,00011,000 13,000 - 25,000 11,840 9,000 - 15,000 11,000 Parking Ratio 3.3 3.2 TBD 3.86 Parking Ratio 3.3TBD 3.2TBD TBDTBD 3.863.2 TBDTBD TBD3.8 TBD2.6 3.21.6 TBD4.0 3.8 2.6 1.6 4.0 Parking Structured & Underground Structured & Underground Underground Surface & UndergroundParking StructuredTBD & Underground StructuredTBD & Underground UndergroundTBD SurfaceSurface && UndergroundUnderground TBDUnderground TBDUnderground TBDSurface & Underground SurfaceSurface & Underground UndergroundSurface Underground Surface & Underground Surface Surface Rental Rate $7.25 NNN $3.75 NNN $6.25 NNN TBD Rental Rate $7.25TBD NNN $3.75TBD NNN $6.25TBD NNN TBD$6.70 NNN TBD$8.00 FS TBD$6.50 NNN TBDTBD $6.70TBD NNN $8.00TBD FS $6.50 NNN TBD TBD TBD Shell Warm Warm Warm TBD Shell WarmTBD WarmTBD WarmTBD TBDWarm TBDWarm TBDWarm TBDWarm WarmTBD WarmTBD Warm Warm TBD TBD T.I. Allowance $50.00 $35.00 TBD TBD T.I. Allowance $50.00TBD $35.00TBD TBDTBD TBD$50.00 TBD$40.00 TBD$40.00 TBDTBD $50.00TBD $40.00TBD $40.00 TBD TBD TBD

Project Status Seeking Entitlements Under Construction (SPEC) Under Construction (SPEC) Seeking EntitlementsProject Status SeekingSeeking EntitlementsEntitlements UnderEntitled Construction (SPEC) UnderSeeking Construction Entitlements (SPEC) SeekingUnder Construction Entitlements (SPEC) SeekingUnderSan Jose Construction Entitlements (SPEC) EntitledUnder Construction (BTS) SeekingEntitled Entitlements UnderSeeking Construction Entitlements (SPEC) UnderSeeking Construction Entitlements (SPEC) Under Construction (BTS) Entitled Seeking Entitlements Seeking Entitlements Comments Revised plans submitted to the city in Phase I will include one four-story ±152,091 square-foot mixed-use The application seeksComments to replace two RevisedThis is a plans new 2-storysubmitted commercial to the city in PhaseNew two-story I will include core one and four-story shell ±152,091This is a new square-foot two-story mixed-use commercial TheTwo-story application Class seeks A office/R&D to replace facility. two ThisNew is three-story, a new 2-story ±63,746 commercial square NewJust onetwo-story block southcore and of Stanford shell ThisProposal is a new for atwo-story new three-story commercial mixed- Two-storyProposal for Class the A renovation office/R&D of facility. two NewNew three-story,Class 'A' office ±63,746 building square within Just one block south of Stanford Proposal for a new three-story mixed- Proposal for the renovation of two New Class 'A' office building within the spring 2014. Core and shell ±214,052 square foot building and a building. The building is inclusive of R&D buildings totaling ±110,000 with thestructure spring with2014. approximately Core and shell ±214,052commercial square building foot ±98,000 building square and a building.structure The with building approximately is inclusive of R&DShell buildings Construction totaling equivalent ±110,000 to withLEED structurefeet Class with A office approximately building with commercialUniversity and building two blocks ±98,000 from square the structureuse building with with approximately one level of Shellexisting Construction buildings and equivalent the demolition to LEED feetwalking Class distance A office to building California with Avenue University and two blocks from the use building with one level of existing buildings and the demolition walking distance to California Avenue would be complete 12 months after 2-level bridge connecting the secured 82 residential rental units in one new office/R&D building of the would±100,00 be squarecomplete feet 12 of months office space after 2-levelfeet with bridge below connecting grade parking the secured 82±86,000 residential square rental feet unitsof office in space oneGold. new Designed office/R&D to accommodate building of the ±100,00rooftop terrace,square feet all on of topoffice of spacea feetCalifornia with below Avenue grade shopping parking district. ±86,000underground square parking. feet of Project office space would Gold.of one, Designed to construct to accommodate one ±35,000 rooftopCalTrain terrace, station. all Developer on top of at a one California Avenue shopping district. underground parking. Project would of one, to construct one ±35,000 CalTrain station. Developer at one construction commencement. No parking structure to the building. ±104,174 square feet on the 2nd and same size. The project would also constructionwith a gym. Thecommencement. project has gone No parking±75,000 structure square feet. to the Build-to-suit building. ±104,174with a commercial square feet kitchen. on the The 2nd and samerooftop size. photovoltaic The project array. would Target also withsubterranean a gym. The parking project structure. has gone ±75,000The mixed-use square developmentfeet. Build-to-suit will withinclude a commercial retail on the kitchen. first floor, The rooftopsquare footphotovoltaic building. array.The project Target is subterraneantime had a proposal parking to structure. build a new The mixed-use development will include retail on the first floor, square foot building. The project is time had a proposal to build a new official pricing, but expect north of Capable of LEED Gold certification. 3rd floors with ±47,917 square feet include a ±5,500 square foot officialthrough pricing, two rounds but expect of review north and of Capabledeal. The of total LEED value Gold of certification. the 12-year 3rdproject floors has with gone ±47,917 through square two rounds feet includecore and a ±5,500shell delivery square Q4 foot 2016. throughDemolition two of rounds exsiting of industrialreview and deal.include The ±52,504 total value square of the feet 12-year of Class projectoffices hason the gone second through floor, two and rounds corewithin and the shell California delivery Avenue Q4 2016. Demolitionpolice station of exsitingfor the cityindustrial on this include ±52,504 square feet of Class offices on the second floor, and within the California Avenue police station for the city on this $7.00 NNN. Machine Zone currently Phase II would allow for expansion of ground floor commercial research ammenity building. At some time in $7.00four of NNN. eight Machine departments Zone havecurrently Phasedeal is II $96 would million. allow Jazz for expectsexpansion to ofof groundreview floorand four commercial of eight research ammenityPreleased building.by Infosys At Technologies some time in fourbuilding of eight began departments June 2015. haveEstimated deal'A' office is $96 over million. an underground Jazz expects to ofsixteen review apartments and four of on eight the second PreleasedBusiness District by Infosys and Technologies would offer buildingsite. began June 2015. Estimated 'A' office over an underground sixteen apartments on the second Business District and would offer site. occupies the existing project and has up to± 400,000 square feet. Spec and development, but inclusive of up the future the developer plans to occupiesapproved the the existing project. project and has uppay to± about 400,000 $17 millionsquare intofeet. for Spec build- anddepartments development, have but approved inclusive the of up theAugust future 2015. the developer plans to approvedcompletion the date project. is Q1 2017. paygarage. about The $17 site million will also into house for build- retail departmentsand third floors. have Three approved units wouldthe Augustonsite bicycle2015. parking. completion date is Q1 2017. garage. The site will also house retail and third floors. Three units would onsite bicycle parking. West Valley West intent to lease the new project construction began Q2 2015. to ±2,400 square feet of ground floor submit an application for a second intent to lease the new project constructionout. The project began is in Q2 plan 2015. check with toproject. ±2,400 square feet of ground floor submit an application for a second Preleased by VISA International out.space The including project oneis in groceryplan check tenant with project.be sold below market rate. Council Preleased by VISA International space including one grocery tenant be sold below market rate. Council pending approval. retail. Expected completion Q1 2016. building of ±70,000 square feet to pending approval. 9 of 9 departments approved. retail. Expected completion Q1 2016. building of ±70,000 square feet to November 2015. 9and of 9a departmentsfree-standing approved. apartment has pushed back on the developer to November 2015. and a free-standing apartment has pushed back on the developer to A portion of the available achieve the full 0.4 FAR allowed on Permit is ready to issue. A portion of the available achieve the full 0.4 FAR allowed on Permitbuilding is ofready eight to 1-bedroom issue. decrease the density. building of eight 1-bedroom decrease the density. commercial space has been the site. commercial space has been the site. residential units. Office portion was residential units. Office portion was COLLIERS INTERNATIONAL NEW DEVELOPMENT PIPELINE preleased by eShares. preleased by eShares. preleased by First Republic Bank. preleased by First Republic Bank. SILICON VALLEY PALO ALTO JULY 2016 11 Palo Alto

9 10 11 12

Project Name University Square Park Plaza VMware CSG Building VMmware HTG Building Project NameName Mayfield OfficeOffice Building Building CollegeUniversity TerraceTerrace Square CentreCentre Park Plaza VMware CSG Building VMmware HTG Building Mayfield Office Building College Terrace Centre 1050 Page Mill Road 3251 Hanover Street 3170 Porter Avenue 1450 Page Mill Road 1050 Page Mill Road 441 Page Mill Road 4003251 Cambridge Hanover Street Avenue 2747 Park Boulevard 3170 Porter Avenue 1450 Page Mill Road 441 Page Mill Road 400 Cambridge Avenue 2747 Park Boulevard Address 2100 University Avenue 195 Page Mill Road 908 Arastradero Road 3421 Hillview Avenue Address 385 ShermanSherman Avenue Avenue 2100 ElUniversityEl Camino Camino Real AvenueReal 441195 Page Mill Road 400 Cambridge Avenue 908 Arastradero Road 3421 Hillview Avenue 385 Sherman Avenue 2100 El Camino Real Developer Sand Hill Properties Sobrato/TMG Harold Hobach Sand Hill Properties Stanford University Stanford University Stanford University Stanford UniversityDeveloper MinkoffSand Hill Group Properties PCSSobrato/TMG Realty Advisors NormHarold Schwab Hobach CambridgeSand Hill Properties Investments LLC JayStanford Paul University Stanford University Stanford University Stanford University Minkoff Group PCS Realty Advisors Norm Schwab Cambridge Investments LLC Jay Paul Total Project Size 287,980 214,052 152,091 115,500 100,000 98,000 86,000 77,199 Total Project Size 63,746287,980 52,504214,052 35,521152,091 35,000115,500 33,323100,000 98,000 86,000 77,199 63,746 52,504 35,521 35,000 33,323 Number of Bldgs 4 2 1 1 2 1 1 1 Number of Bldgs 14 12 1 1 12 1 1 1 1 1 1 1 1 Divisible to 66,070 50,000 43,740 115,500 N/A 98,000 N/A 35,000 Divisible to 20,20066,070 13,00050,000 11,00043,740 8,000115,500 11,000N/A 98,000 N/A 35,000 20,200 13,000 11,000 8,000 11,000 Acreage 13.5 2.75 2.41 10.17 69.5 9.12 36.01 3.42 Acreage 0.6113.5 1.42.75 0.622.41 0.4010.17 1.5369.5 9.12 36.01 3.42 0.61 1.4 0.62 0.40 1.53 FAR (Coverage) 48% 178% 145% 40% TBD 25% TBD 52% FAR (Coverage) 188%48% 100%178% 131%145% 200%40% 50%TBD 25% TBD 52% 188% 100% 131% 200% 50% # of Floors 2 4 3 2 2 2 2 2 # of Floors 32 34 3 32 32 2 2 2 3 3 3 3 3 Size of Floors 37,500 55,000 47,917 55,000 50,000 49,000 43,000 40,000 Size of Floors 21,00037,500 13,00055,000 - 25,000 11,84047,917 9,00055,000 - 15,000 11,00050,000 49,000 43,000 40,000 21,000 13,000 - 25,000 11,840 9,000 - 15,000 11,000 Parking Ratio 3.3 3.2 TBD 3.86 TBD TBD TBD 3.2 Parking Ratio TBD3.3 3.83.2 2.6TBD 1.63.86 4.0TBD TBD TBD 3.2 TBD 3.8 2.6 1.6 4.0 Parking Structured & Underground Structured & Underground Underground Surface & Underground TBD TBD TBD Surface & UndergroundParking UndergroundStructured & Underground UndergroundStructured & Underground SurfaceUnderground & Underground Surface & Underground SurfaceTBD TBD TBD Surface & Underground Underground Underground Surface & Underground Surface Surface Rental Rate $7.25 NNN $3.75 NNN $6.25 NNN TBD TBD TBD TBD $6.70 NNN Rental Rate $8.00$7.25 FSNNN $6.50$3.75 NNN TBD$6.25 NNN TBD TBD TBD TBD $6.70 NNN $8.00 FS $6.50 NNN TBD TBD TBD Shell Warm Warm Warm TBD TBD TBD TBD Warm Shell Warm Warm Warm TBD TBD TBD TBD Warm Warm Warm Warm TBD TBD T.I. Allowance $50.00 $35.00 TBD TBD TBD TBD TBD $50.00 T.I. Allowance $40.00$50.00 $40.00$35.00 TBD TBD TBD TBD TBD $50.00 $40.00 $40.00 TBD TBD TBD Project Status Seeking Entitlements Under Construction (SPEC) Under Construction (SPEC) Seeking Entitlements Seeking Entitlements Entitled Seeking Entitlements Under ConstructionProject (SPEC) Status UnderSeeking Construction Entitlements (SPEC) Under Construction (BTS)(SPEC) EntitledUnder Construction (SPEC) Seeking Entitlements Seeking Entitlements Entitled Seeking Entitlements Under Construction (SPEC) Under Construction (SPEC) Under Construction (BTS) Entitled Seeking Entitlements Seeking Entitlements Comments Revised plans submitted to the city in Phase I will include one four-story ±152,091 square-foot mixed-use The application seeks to replace two This is a new 2-story commercial New two-story core and shell This is a new two-story commercial Two-story Class A office/R&DComments facility. NewRevised three-story, plans submitted ±63,746 to square the city in JustPhase one I will block include south one of Stanford four-story Proposal±152,091 for square-foot a new three-story mixed-use mixed- ProposalThe application for the seeksrenovation to replace of two two NewThis isClass a new 'A' 2-storyoffice building commercial within New two-story core and shell This is a new two-story commercial Two-story Class A office/R&D facility. New three-story, ±63,746 square Just one block south of Stanford Proposal for a new three-story mixed- Proposal for the renovation of two New Class 'A' office building within the spring 2014. Core and shell ±214,052 square foot building and a building. The building is inclusive of R&D buildings totaling ±110,000 with structure with approximately commercial building ±98,000 square structure with approximately Shell Construction equivalent to LEED feetthe springClass A2014. office Core building and shellwith University±214,052 squareand two foot blocks building from and the a usebuilding. building The with building one levelis inclusive of of existingR&D buildings buildings totaling and the ±110,000 demolition with walkingstructure distance with approximately to California Avenue commercial building ±98,000 square structure with approximately Shell Construction equivalent to LEED feet Class A office building with University and two blocks from the use building with one level of existing buildings and the demolition walking distance to California Avenue would be complete 12 months after 2-level bridge connecting the secured 82 residential rental units in one new office/R&D building of the ±100,00 square feet of office space feet with below grade parking ±86,000 square feet of office space Gold. Designed to accommodate rooftopwould be terrace, complete all on12 topmonths of a after California2-level bridge Avenue connecting shopping the district. secured underground82 residential parking. rental units Project in would ofone one, new to office/R&D construct one building ±35,000 of the CalTrain±100,00 station.square feet Developer of office at space one feet with below grade parking ±86,000 square feet of office space Gold. Designed to accommodate rooftop terrace, all on top of a California Avenue shopping district. underground parking. Project would of one, to construct one ±35,000 CalTrain station. Developer at one construction commencement. No parking structure to the building. ±104,174 square feet on the 2nd and same size. The project would also with a gym. The project has gone ±75,000 square feet. Build-to-suit with a commercial kitchen. The rooftop photovoltaic array. Target subterraneanconstruction commencement. parking structure. No Theparking mixed-use structure development to the building. will include±104,174 retail square on the feet first on floor,the 2nd and squaresame size. foot The building. project The would project also is timewith hada gym. a proposal The project to build has gonea new ±75,000 square feet. Build-to-suit with a commercial kitchen. The rooftop photovoltaic array. Target subterranean parking structure. The mixed-use development will include retail on the first floor, square foot building. The project is time had a proposal to build a new official pricing, but expect north of Capable of LEED Gold certification. 3rd floors with ±47,917 square feet include a ±5,500 square foot through two rounds of review and deal. The total value of the 12-year project has gone through two rounds core and shell delivery Q4 2016. Demolitionofficial pricing, of exsiting but expect industrial north of includeCapable ±52,504 of LEED squareGold certification. feet of Class offices3rd floors on thewith second ±47,917 floor, square and feet withininclude the a ±5,500 California square Avenue foot policethrough station two rounds for the of city review on this and deal. The total value of the 12-year project has gone through two rounds core and shell delivery Q4 2016. Demolition of exsiting industrial include ±52,504 square feet of Class offices on the second floor, and within the California Avenue police station for the city on this $7.00 NNN. Machine Zone currently Phase II would allow for expansion of ground floor commercial research ammenity building. At some time in four of eight departments have deal is $96 million. Jazz expects to of review and four of eight Preleased by Infosys Technologies building$7.00 NNN. began Machine June 2015. Zone Estimated currently 'A'Phase office II would over an allow underground for expansion sixteenof ground apartments floor commercial on the second research Businessammenity District building. and At would some offer time in site.four of eight departments have deal is $96 million. Jazz expects to of review and four of eight Preleased by Infosys Technologies building began June 2015. Estimated 'A' office over an underground sixteen apartments on the second Business District and would offer site. occupies the existing project and has up to± 400,000 square feet. Spec and development, but inclusive of up the future the developer plans to approved the project. pay about $17 million into for build- departments have approved the August 2015. completionoccupies the date existing is Q1 project 2017. and has garage.up to± 400,000 The site squarewill also feet. house Spec retail and thirddevelopment, floors. Three but inclusiveunits would of up onsitethe future bicycle the parking. developer plans to approved the project. pay about $17 million into for build- departments have approved the August 2015. completion date is Q1 2017. garage. The site will also house retail and third floors. Three units would onsite bicycle parking. intent to lease the new project construction began Q2 2015. to ±2,400 square feet of ground floor submit an application for a second out. The project is in plan check with project. Preleasedintent to lease by VISA the International new project spaceconstruction including began one Q2grocery 2015. tenant beto ±2,400sold below square market feet rate.of ground Council floor submit an application for a second out. The project is in plan check with project. Preleased by VISA International space including one grocery tenant be sold below market rate. Council pending approval. retail. Expected completion Q1 2016. building of ±70,000 square feet to 9 of 9 departments approved. Novemberpending approval. 2015. and a free-standing apartment hasretail. pushed Expected back completion on the developer Q1 2016. to building of ±70,000 square feet to 9 of 9 departments approved. November 2015. and a free-standing apartment has pushed back on the developer to A portion of the available achieve the full 0.4 FAR allowed on Permit is ready to issue. building of eight 1-bedroom decreaseA portion theof the density. available achieve the full 0.4 FAR allowed on Permit is ready to issue. building of eight 1-bedroom decrease the density. commercial space has been the site. residential units. Office portion was commercial space has been the site. residential units. Office portion was preleased by eShares. preleased by First Republic Bank. preleased by eShares. preleased by First Republic Bank. Palo Alto Palo Alto

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Project Name VMmware HTG Building Mayfield Office Building College Terrace Centre Project NameName VMmware HTG Building Mayfield Office Building College Terrace Centre MacArthur Park MacArthur Park 1450 Page Mill Road 441 Page Mill Road 400 Cambridge Avenue 2747 Park Boulevard 27551450 El Page Camino Mill RealRoad 3045 Park Boulevard 550 High street 2555441 PagePark MillBoulevard Road 636400 Waverley Cambridge Avenue 2747 Park Boulevard 2755 El Camino Real 3045 Park Boulevard 550 High street 2555 Park Boulevard 636 Waverley Address 3421 Hillview Avenue 385 Sherman Avenue 2100 El Camino Real Address 3421 Hillview Avenue 385 Sherman Avenue 2100 El Camino Real 27 University Avenue 27 University Avenue Address 2747 Park Boulevard 2755 El Camino Real 3045 Park Boulevard 550 High Street Developer Stanford University Stanford University Minkoff Group PCS Realty Advisors Norm Schwab Cambridge InvestmentsDeveloper LLC JayStanford Paul University PollockStanford Financial University Group JayMinkoff Paul Group KeenanPCS Realty Land Advisors Company TarltonNormSunnyvale Schwab Properties, Inc D2Cambridge Realty Services Investments LLC Arrillaga/StanfordJay Paul Pollock Financial Group Jay Paul Keenan Land Company Tarlton Properties, Inc D2 Realty Services Arrillaga/Stanford Total Project Size 86,000 77,199 63,746 52,504 35,521 35,000 Total Project Size 33,32386,000 33,00077,199 29,12063,746 28,08552,504 24,46635,521 10,30035,000 TBD33,323 33,000 29,120 28,085 24,466 10,300 TBD Number of Bldgs 1 1 1 1 1 1 Number of Bldgs 11 11 11 11 11 11 41 1 1 1 1 1 4 Divisible to N/A 35,000 20,200 13,000 11,000 8,000 Divisible to 11,000N/A 5,20035,000 14,00020,200 6,26313,000 7,70011,000 2,4008,000 TBD11,000 5,200 14,000 6,263 7,700 2,400 TBD Acreage 36.01 3.42 0.61 1.4 0.62 0.40 Acreage 1.5336.01 0.453.42 1.340.61 0.231.4 0.290.62 0.120.40 4.31.53 0.45 1.34 0.23 0.29 0.12 4.3 FAR (Coverage) TBD 52% 188% 100% 131% 200% FAR (Coverage) 50%TBD 171%52% 50%188% 271%100% 198%131% 195%200% TBD50% 171% 50% 271% 198% 195% TBD # of Floors 2 2 3 3 3 3 # of Floors 32 42 23 43 33 43 TBD3 4 2 4 3 4 TBD Size of Floors 43,000 40,000 21,000 13,000 - 25,000 11,840 9,000 - 15,000 Size of Floors 11,00043,000 5,20040,000 - 9,500 14,56021,000 6,70013,000 - 25,000 7,70011,840Santa Clara 2,4009,000 - 15,000 TBD11,000 5,200 - 9,500 14,560 6,700 7,700 2,400 TBD Parking Ratio TBD 3.2 TBD 3.8 2.6 1.6 Parking Ratio 4.0TBD 3.63.2 4.2TBD 2.33.8 3.762.6 2.11.6 TBD4.0 3.6 4.2 2.3 3.76 2.1 TBD Parking TBD Surface & Underground Underground Underground Surface & Underground Surface Parking SurfaceTBD UndergroundSurface & Underground SurfaceUnderground UndergroundUnderground SurfaceSurface & & Underground Underground UndergroundSurface TBDSurface Underground Surface Underground Surface & Underground Underground TBD Rental Rate TBD $6.70 NNN $8.00 FS $6.50 NNN TBD TBD Rental Rate TBDTBD TBD$6.70 NNN TBD$8.00 FS $12.00$6.50 NNNNNN TBDTBD TBDTBD TBDTBD TBD TBD $12.00 NNN TBD TBD TBD Shell TBD Warm Warm Warm Warm TBD Shell TBDTBD TBDWarm TBDWarm WarmWarm TBDWarm TBDTBD TBDTBD TBD TBD Warm TBD TBD TBD T.I. Allowance TBD $50.00 $40.00 $40.00 TBD TBD T.I. Allowance TBDTBD TBD$50.00 TBD$40.00 TBD$40.00 TBDTBD TBDTBD TBDTBD TBD TBD TBD TBD TBD TBD

Project Status Seeking Entitlements Under Construction (SPEC) Under Construction (SPEC) Under Construction (BTS) Entitled Seeking EntitlementsProject Status SeekingSeeking Entitlements Entitlements SeekingUnder Construction Entitlements (SPEC) SeekingUnder Construction Entitlements (SPEC) ShellUnder Complete Construction (BTS) SeekingEntitledSan Jose Entitlements UnderSeeking Construction Entitlements PlanningSeeking EntitlementsStages Seeking Entitlements Seeking Entitlements Shell Complete Seeking Entitlements Under Construction Planning Stages Comments This is a new two-story commercial Two-story Class A office/R&D facility. New three-story, ±63,746 square Just one block south of Stanford Proposal for a new three-story mixed- Proposal for the renovationComments of two NewThis Classis a new 'A' officetwo-story building commercial within ProposalTwo-story for Class a new A office/R&Dfour-story office facility. NewNew Class three-story, 'A' office ±63,746 building square within NewJust four-storyone block south±28,085 of Stanfordsquare-foot ProposalProposal for for a a new new three-story three-story LEED mixed- TheProposal building for will the include renovation 4,800 of two OriginalNew Class plan 'A' was office rejected building by withinthe city Proposal for a new four-story office New Class 'A' office building within New four-story ±28,085 square-foot Proposal for a new three-story LEED The building will include 4,800 Original plan was rejected by the city structure with approximately Shell Construction equivalent to LEED feet Class A office building with University and two blocks from the use building with one level of existing buildings and the demolition walkingstructure distance with approximately to California Avenue buildingShell Construction with three levelsequivalent of to LEED walkingfeet Class distance A office to building California with Avenue mixed-useUniversity buildingand two on blocks an existing from the Silveruse building office building with one with level covered of squareexisting feet buildings of office and space the demolitionon the duewalking to public distance concern to California for project Avenue building with three levels of walking distance to California Avenue mixed-use building on an existing Silver office building with covered square feet of office space on the due to public concern for project ±86,000 square feet of office space Gold. Designed to accommodate rooftop terrace, all on top of a California Avenue shopping district. underground parking. Project would of one, to construct one ±35,000 CalTrain±86,000 station. square feetDeveloper of office at spaceone undergroundGold. Designed parking to accommodate on the former Calrooftop Train terrace,station. allProject on top would of a vacantCalifornia lot. AvenueThe building shopping includes district. surfaceunderground parking parking. at grade Project and one would bottomof one, twoto construct stories and one a ±35,000residential densityCalTrain and station. height. Developer at one underground parking on the former Cal Train station. Project would vacant lot. The building includes surface parking at grade and one bottom two stories and a residential density and height. with a commercial kitchen. The rooftop photovoltaic array. Target subterranean parking structure. The mixed-use development will include retail on the first floor, square foot building. The project is timewith had a commercial a proposal kitchen. to build Thea new VTArooftop parking photovoltaic lot. The proposal array. Target to the includesubterranean bicycle parkingparking structure.and a roof threeThe mixed-use floors of commercial development use, will levelinclude of machine retail on parkingthe first below floor, unitsquare on eachfoot building.of the top The two project stories, is time had a proposal to build a new VTA parking lot. The proposal to the include bicycle parking and a roof three floors of commercial use, level of machine parking below unit on each of the top two stories, project has gone through two rounds core and shell delivery Q4 2016. Demolition of exsiting industrial include ±52,504 square feet of Class offices on the second floor, and within the California Avenue policeproject station has gone for throughthe city ontwo this rounds citycore also and includes shell delivery renovating Q4 2016. an deck.Demolition This would of exsiting replace industrial an existing approximatelyinclude ±52,504 ±22,279 square square feet of feet Class grade.offices Theon the project second will floor, park 82and cars onewithin with the two California bedrooms Avenue and the police station for the city on this city also includes renovating an deck. This would replace an existing approximately ±22,279 square feet grade. The project will park 82 cars one with two bedrooms and the of review and four of eight Preleased by Infosys Technologies building began June 2015. Estimated 'A' office over an underground sixteen apartments on the second Business District and would offer site.of review and four of eight abandonedPreleased by underground Infosys Technologies pedestrian autobuilding dealer began and Junerepair 2015. shop. Estimated of'A' office, office and over two an undergroundtwo-bedroom onsixteen site and apartments provide Caltrain on the second otherBusiness with District three. Eachand would unit would offer site. abandoned underground pedestrian auto dealer and repair shop. of office, and two two-bedroom on site and provide Caltrain other with three. Each unit would

departments have approved the August 2015. completion date is Q1 2017. garage. The site will also house retail and third floors. Three units would onsite bicycle parking. departments have approved the tunnelAugust connecting 2015. Page Mill Road completion date is Q1 2017. residentialgarage. The units site onwill the also top house floor. retail The GoPassesand Valley thirdWest forfloors. eligible Three full units time would haveonsite large bicycle open parking. terraces. tunnel connecting Page Mill Road residential units on the top floor. The GoPasses for eligible full time have large open terraces. project. Preleased by VISA International space including one grocery tenant be sold below market rate. Council project. beneath El Camino Real. Preleased by VISA International projectspace including also includes one grocerya full basement tenant employeesbe sold below for themarket life ofrate. the Council building beneath El Camino Real. project also includes a full basement employees for the life of the building November 2015. and a free-standing apartment has pushed back on the developer to November 2015. toand be a used free-standing for three levelsapartment of throughhas pushed a TDM back program. on the developer Currently, to 7 to be used for three levels of through a TDM program. Currently, 7 building of eight 1-bedroom decrease the density. undergroundbuilding of eight parking. 1-bedroom ofdecrease 8 departments the density. are approved. underground parking. of 8 departments are approved. residential units. Office portion was COLLIERS INTERNATIONAL NEWresidential DEVELOPMENT units. PIPELINEOffice portion was preleased by First Republic Bank. preleased by First Republic Bank. SILICON VALLEY PALO ALTO JULY 2016 13 Palo Alto

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Project Name VMmware HTG Building Mayfield Office Building College Terrace Centre ProjectProject Name Name University Square ParkMacArthurMacArthur Plaza ParkPark VMware CSG Building VMmware HTG Building Mayfield Office Building College Terrace Centre 1450 Page Mill Road 441 Page Mill Road 400 Cambridge Avenue 2747 Park Boulevard 2755 El Camino Real 3045 Park Boulevard 550 High street 10502555 PagePark MillBoulevard Road 636 Waverley 3251 Hanover Street 3170 Porter Avenue 1450 Page Mill Road 441 Page Mill Road 400 Cambridge Avenue 2747 Park Boulevard Address 3421 Hillview Avenue 385 Sherman Avenue 2100 El Camino Real AddressAddress 2555 Park Boulevard 2100636 UniversityWaverley Avenue 1952727 University UniversityPage Mill RoadAvenue Avenue 908 Arastradero Road 3421 Hillview Avenue 385 Sherman Avenue 2100 El Camino Real Developer Stanford University Stanford University Minkoff Group PCS Realty Advisors Norm Schwab Cambridge Investments LLC Jay Paul Pollock Financial Group Jay Paul Keenan Land CompanyDeveloper SandTarlton Hill Properties, Properties Inc Sobrato/TMGD2 Realty Services HaroldArrillaga/Stanford Hobach Sand Hill Properties Stanford University Stanford University Stanford University Stanford University Minkoff Group PCS Realty Advisors Norm Schwab Cambridge Investments LLC Jay Paul Total Project Size 86,000 77,199 63,746 52,504 35,521 35,000 33,323 33,000 29,120 28,085 Total Project Size 287,98024,466 214,05210,300 152,091TBD 115,500 100,000 98,000 86,000 77,199 63,746 52,504 35,521 35,000 33,323 Number of Bldgs 1 1 1 1 1 1 1 1 1 1 Number of Bldgs 41 21 14 1 2 1 1 1 1 1 1 1 1 Divisible to N/A 35,000 20,200 13,000 11,000 8,000 11,000 5,200 14,000 6,263 Divisible to 66,0707,700 50,0002,400 43,740TBD 115,500 N/A 98,000 N/A 35,000 20,200 13,000 11,000 8,000 11,000 Acreage 36.01 3.42 0.61 1.4 0.62 0.40 1.53 0.45 1.34 0.23 Acreage 13.50.29 2.750.12 2.414.3 10.17 69.5 9.12 36.01 3.42 0.61 1.4 0.62 0.40 1.53 FAR (Coverage) TBD 52% 188% 100% 131% 200% 50% 171% 50% 271% FAR (Coverage) 48%198% 178%195% 145%TBD 40% TBD 25% TBD 52% 188% 100% 131% 200% 50% # of Floors 2 2 3 3 3 3 3 4 2 4 # of Floors 23 44 3TBD 2 2 2 2 2 3 3 3 3 3 Size of Floors 43,000 40,000 21,000 13,000 - 25,000 11,840 9,000 - 15,000 11,000 5,200 - 9,500 14,560 6,700 Size of Floors 37,5007,700 55,0002,400 47,917TBD 55,000 50,000 49,000 43,000 40,000 21,000 13,000 - 25,000 11,840 9,000 - 15,000 11,000 Parking Ratio TBD 3.2 TBD 3.8 2.6 1.6 4.0 3.6 4.2 2.3 Parking Ratio 3.33.76 3.22.1 TBDTBD 3.86 TBD TBD TBD 3.2 TBD 3.8 2.6 1.6 4.0 Parking TBD Surface & Underground Underground Underground Surface & Underground Surface Surface Underground Surface Underground Parking StructuredSurface & Underground& Underground StructuredUnderground & Underground UndergroundTBD Surface & Underground TBD TBD TBD Surface & Underground Underground Underground Surface & Underground Surface Surface Rental Rate TBD $6.70 NNN $8.00 FS $6.50 NNN TBD TBD TBD TBD TBD $12.00 NNN Rental Rate $7.25TBD NNN $3.75TBD NNN $6.25TBD NNN TBD TBD TBD TBD $6.70 NNN $8.00 FS $6.50 NNN TBD TBD TBD Shell TBD Warm Warm Warm Warm TBD TBD TBD TBD Warm Shell WarmTBD WarmTBD WarmTBD TBD TBD TBD TBD Warm Warm Warm Warm TBD TBD T.I. Allowance TBD $50.00 $40.00 $40.00 TBD TBD TBD TBD TBD TBD T.I. Allowance $50.00TBD $35.00TBD TBDTBD TBD TBD TBD TBD $50.00 $40.00 $40.00 TBD TBD TBD Project Status Seeking Entitlements Under Construction (SPEC) Under Construction (SPEC) Under Construction (BTS) Entitled Seeking Entitlements Seeking Entitlements Seeking Entitlements Seeking Entitlements Shell Complete Project Status SeekingSeeking EntitlementsEntitlements UnderUnder ConstructionConstruction (SPEC) UnderPlanning Construction Stages (SPEC) Seeking Entitlements Seeking Entitlements Entitled Seeking Entitlements Under Construction (SPEC) Under Construction (SPEC) Under Construction (BTS) Entitled Seeking Entitlements Seeking Entitlements Comments This is a new two-story commercial Two-story Class A office/R&D facility. New three-story, ±63,746 square Just one block south of Stanford Proposal for a new three-story mixed- Proposal for the renovation of two New Class 'A' office building within Proposal for a new four-story office New Class 'A' office building within New four-story ±28,085Comments square-foot RevisedProposal plans for a submitted new three-story to the cityLEED in PhaseThe building I will include will include one four-story 4,800 ±152,091Original plan square-foot was rejected mixed-use by the city The application seeks to replace two This is a new 2-story commercial New two-story core and shell This is a new two-story commercial Two-story Class A office/R&D facility. New three-story, ±63,746 square Just one block south of Stanford Proposal for a new three-story mixed- Proposal for the renovation of two New Class 'A' office building within structure with approximately Shell Construction equivalent to LEED feet Class A office building with University and two blocks from the use building with one level of existing buildings and the demolition walking distance to California Avenue building with three levels of walking distance to California Avenue mixed-use building on an existing theSilver spring office 2014. building Core with and coveredshell ±214,052square feet square of office foot space building on andthe a building.due to public The building concern is for inclusive project of R&D buildings totaling ±110,000 with structure with approximately commercial building ±98,000 square structure with approximately Shell Construction equivalent to LEED feet Class A office building with University and two blocks from the use building with one level of existing buildings and the demolition walking distance to California Avenue ±86,000 square feet of office space Gold. Designed to accommodate rooftop terrace, all on top of a California Avenue shopping district. underground parking. Project would of one, to construct one ±35,000 CalTrain station. Developer at one underground parking on the former Cal Train station. Project would vacant lot. The building includes wouldsurface be parking complete at grade 12 months and one after 2-levelbottom bridge two stories connecting and a the residential secured 82density residential and height. rental units in one new office/R&D building of the ±100,00 square feet of office space feet with below grade parking ±86,000 square feet of office space Gold. Designed to accommodate rooftop terrace, all on top of a California Avenue shopping district. underground parking. Project would of one, to construct one ±35,000 CalTrain station. Developer at one with a commercial kitchen. The rooftop photovoltaic array. Target subterranean parking structure. The mixed-use development will include retail on the first floor, square foot building. The project is time had a proposal to build a new VTA parking lot. The proposal to the include bicycle parking and a roof three floors of commercial use, constructionlevel of machine commencement. parking below No parkingunit on structureeach of the to topthe twobuilding. stories, ±104,174 square feet on the 2nd and same size. The project would also with a gym. The project has gone ±75,000 square feet. Build-to-suit with a commercial kitchen. The rooftop photovoltaic array. Target subterranean parking structure. The mixed-use development will include retail on the first floor, square foot building. The project is time had a proposal to build a new project has gone through two rounds core and shell delivery Q4 2016. Demolition of exsiting industrial include ±52,504 square feet of Class offices on the second floor, and within the California Avenue police station for the city on this city also includes renovating an deck. This would replace an existing approximately ±22,279 square feet officialgrade. pricing, The project but expect will park north 82 cars of Capableone with of two LEED bedrooms Gold certification. and the 3rd floors with ±47,917 square feet include a ±5,500 square foot through two rounds of review and deal. The total value of the 12-year project has gone through two rounds core and shell delivery Q4 2016. Demolition of exsiting industrial include ±52,504 square feet of Class offices on the second floor, and within the California Avenue police station for the city on this of review and four of eight Preleased by Infosys Technologies building began June 2015. Estimated 'A' office over an underground sixteen apartments on the second Business District and would offer site. abandoned underground pedestrian auto dealer and repair shop. of office, and two two-bedroom $7.00on site NNN. and provideMachine Caltrain Zone currently Phaseother withII would three. allow Each for unit expansion would of ground floor commercial research ammenity building. At some time in four of eight departments have deal is $96 million. Jazz expects to of review and four of eight Preleased by Infosys Technologies building began June 2015. Estimated 'A' office over an underground sixteen apartments on the second Business District and would offer site. departments have approved the August 2015. completion date is Q1 2017. garage. The site will also house retail and third floors. Three units would onsite bicycle parking. tunnel connecting Page Mill Road residential units on the top floor. The occupiesGoPasses the for existing eligible projectfull time and has uphave to± large 400,000 open square terraces. feet. Spec and development, but inclusive of up the future the developer plans to approved the project. pay about $17 million into for build- departments have approved the August 2015. completion date is Q1 2017. garage. The site will also house retail and third floors. Three units would onsite bicycle parking. project. Preleased by VISA International space including one grocery tenant be sold below market rate. Council beneath El Camino Real. project also includes a full basement intentemployees to lease for thethe newlife of project the building construction began Q2 2015. to ±2,400 square feet of ground floor submit an application for a second out. The project is in plan check with project. Preleased by VISA International space including one grocery tenant be sold below market rate. Council November 2015. and a free-standing apartment has pushed back on the developer to to be used for three levels of pendingthrough approval.a TDM program. Currently, 7 retail. Expected completion Q1 2016. building of ±70,000 square feet to 9 of 9 departments approved. November 2015. and a free-standing apartment has pushed back on the developer to building of eight 1-bedroom decrease the density. underground parking. of 8 departments are approved. A portion of the available achieve the full 0.4 FAR allowed on Permit is ready to issue. building of eight 1-bedroom decrease the density. residential units. Office portion was COLLIERS INTERNATIONAL NEW DEVELOPMENT PIPELINE commercial space has been the site. residential units. Office portion was preleased by First Republic Bank. preleased by eShares. preleased by First Republic Bank. 14 SILICON VALLEY PALO ALTO JULY 2016 Palo Alto Mountain View Sunnyvale Santa Clara San Jose West Valley West

COLLIERS INTERNATIONAL NEW DEVELOPMENT PIPELINE SILICON VALLEY PALO ALTO JULY 2016 15 Palo Alto Project Developer Total Project Size Project Status 1 1050 Page Mill Road Sand Hill Properties 287,980 Seeking Entitlements 2 University Plaza Sobrato/TMG 214,052 Under Construction (SPEC) 3 Park Plaza Harold Hobach 152,091 Under Construction (SPEC) 4 3251 Hanover Street Sand Hill Properties 115,500 Seeking Entitlements 5 VMware CSG Building Stanford University 100,000 Seeking Entitlements 6 3170 Porter Avenue Stanford University 98,000 Entitled 7 VMware HTG Building Stanford University 86,000 Seeking Entitlements 8 1450 Page Mill Road Stanford University 77,199 Under Construction (SPEC) 9 Mayfield Office Building Minkoff Group 63,746 Under Construction (SPEC) 10 College Terrace PCS Realty Advisors 52,504 Under Construction (BTS) 11 441 Page Mill Road Norm Schwab 35,521 Entitled 12 400 Cambridge Avenue Cambridge Investments LLC 35,000 Seeking Entitlements 13 2755 El Camino Real Jay Paul 33,323 Seeking Entitlements 14 2747 Park Boulevard Pollock Financial Group 33,000 Seeking Entitlements 15 3045 Park Boulevard Jay Paul 29,120 Seeking Entitlements 16 550 High Street Keenan Land Company 28,085 Shell Complete 17 2555 Park Avenue Tarlton Properties, Inc 24,466 Seeking Entitlements 18 636 Waverley Street D2 Realty Services 10,300 Under Construction (BTS) 19 MacArthur Park Arrillaga/Stanford TBD Planning Stages Mountain View Total Potential Development 1,475,887

Mountain View Project Developer Total Project Size Project Status 1 Shoreline Commons LinkedIn & SyWest 1,500,000 Seeking Entitlements 2 Bay View Campus Google 1,100,000 Entitled 3 The 700 Centre Google 1,045,600 Seeking Entitlements 4 LinkedIn Main Campus HCP, Inc 800,000 Planning Stages 5 Microsoft Campus Mission West 643,000 Seeking Entitlements 6 Charleston East Google 595,000 Seeking Entitlements 7 The Village at San Antonio Merlone Geier Partners 456,600 Under Construction (BTS) 8 Intuit Campus Intuit 364,000 Under Construction (BTS) 9 1625 Plymouth Street Broadreach Capital Partners 224,508 Seeking Entitlements 10 750 Moffett Broadreach Capital Partners 217,000 Seeking Entitlements 11 Bayfront Park Project Rees Properties 190,876 Seeking Entitlements 12 580-620 Clyde Avenue Renault & Handley 190,000 Entitled 13 The Quad Keenan Lovewell Ventures 180,773 Entitled 14 600 National Avenue National Avenue Partners 150,988 Under Construction (SPEC) 15 1001 Shoreline Carlyle/Calvano Development 132,690 Under Construction (BTS) 16 599 Castro Street Sobrato Development 102,918 Entitled 17 1075 Terra Bella Calvano Development 14,043 Seeking Entitlements Total Potential Development 7,907,996 COLLIERS INTERNATIONAL NEW DEVELOPMENT PIPELINE 16 SILICON SILICON VALLEY VALLEY MTN. VIEW JULY 2016 Sunnyvale Project Developer Total Project Size Project Status 1 Moffett Place Jay Paul 1,944,132 Shell Complete/Entitled 2 Moffett Towers II Jay Paul 1,797,385 Entitled 3 Pastoria & Maude Avenue Irvine Company 1,432,043 Seeking Entitlements 4 Central Sunnyvale Campus Jay Paul 770,000 Under Construction (BTS) 5 684 West Maude Avenue Simeon Commercial 652,000 Seeking Entitlements 6 Moffett Gateway Jay Paul 593,484 Shell Complete 7 1050 Kifer Avenue Intuitive Surgical 560,731 Seeking Entitlements 8 Java Metro Center CB Global Investors 387,192 Shell Complete / Entitled 9 Mathilda Commons JP DiNapoli 341,104 Seeking Entitlements 10 Yahoo Campus Yahoo, Inc 316,000 Entitled 11 237 Moffett Park Drive Four Corners 260,000 Under Construction (SPEC) 12 Mathilda Research Center Common Wealth REIT 248,259 Entitled 13 520 Almanor Avenue Lane Partners 230,000 Entitled 14 445 North Mary Avenue Jay Paul 171,734 Seeking Entitlements 15 675 Almanor Avenue Dollinger Properties 168,520 Seeking Entitlements 16 221 Mathilda Avenue Spear Street Capital 128,224 Seeking Entitlements 17 265 Sobrante Way Sobrante Properties, LLC 120,740 Seeking Entitlements 18 1212 Bordeaux Drive CBRE Global Investors 100,091 Seeking Entitlements 19 505 Almanor Avenue Invesco 90,000 Entitled 20 Sunnyvale Town Center JP Morgan 84,691 Entitled 21 623 North Pastoria Avenue George Yagmourian 56,106 Seeking Entitlements Total Potential Development 10,452,436

2 Palo Alto 4 6 Mountain View 9 Mountain View Mountain view

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N RENGSTORFF AVE 7 14 Santa Clara

CENTRAL EXPRESSWAY MOFFETT BLVD

12 13 MIDDLEFIELD RD

San Jose

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3 West Valley West

17 EL CAMINO REAL CASTRO STREET COLLIERS INTERNATIONAL NEW DEVELOPMENT PIPELINE SILICON VALLEY MTN. VIEW JULY 2016 17

Mountain View

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The Village at ProjectProject Name Name ShorelineShoreline Commons Commons BayBay View View Campus Campus TheThe 700 700 Centre Centre LinkedInLinkedIn Main Main Campus Campus Microsoft Campus Charleston East Intuit Campus Bayfront Park Project The Quad San Antonio Center 1625 Plymouth Street 750 Moffett Boulevard 580-620 Clyde Avenue 600 National Avenue Address 1400 N. Shoreline Boulevard Wright Avenue & Allen Road 700 Middlefield 2025 Stierlin Ct 1045-1085 La Avenida Street 2000 North Shoreline Boulevard 2600 Marine Parkway 2629 Terminal Boulevard 369 North Whisman Road Address 1400 N. Shoreline Boulevard Wright Avenue & Allen Road 700 Middlefield Road 2025 Stierlin Court San Antonio & El Camino Real Developer LinkedIn & SyWest Google Google HCP, Inc Misson West Google Merlone Geier Partners Intuit Broadreach Capital Partners Broadreach Capital Partners Rees Properties Renault & Handley Keenan Lovewell Ventures National Avenue Partners Total Project Size 1,500,000 1,100,000 1,045,600 800,000 643,000 595,000 456,600 364,000 224,505 217,000 190,876 190,000 180,773 151,998 Number of Bldgs 6 4 4 TBD 5 1 2 2 1 1 1 1 2 1 Divisible to N/A N/A 228,750 N/A N/A N/A 50,000 N/A 37,000 46,000 TBD 35,000 70,000 TBD Acreage 23.7 42.2 23.05 25.33 32.0 18.6 9.9 9.62 5.15 6.06 7 5.15 29.3 4.8 FAR (Coverage) 169% TBD 132% 72% 46% 73% 105% 100% 100% 82% 65% 85% 49% 72% # of Floors 8 4 5, 6 & 8 TBD 6 4 6 4 6 5 3 5 3 & 4 4 Size of Floors 34,000 TBD 41,824 TBD TBD 148,750 TBD 45,500 37,000 34,000 - 47,000 63,000 38,000 25,000 32,707 - 36,406 Parking Ratio 2.7 TBD 3.0 TBD TBD TBD 3.0 3.0 TBD 3.1 2.7 3.33 3.5 3.3 Parking Structured & Underground Structured & Underground Surface & Structured TBD Surface & Structured TBD Surface & Structured Structured & Underground Structured Surface & Structured Underground Structured Structured Surface Rental Rate TBD TBD TBD TBD TBD Underground $5.75 NNN TBD TBD TBD TBD $5.75 TBD $5.25 NNN Shell TBD TBD TBD TBD TBD TBD Warm TBD TBD Warm TBD Warm TBD Warm T.I. Allowance TBD TBD TBD TBD TBD TBD $50.00 TBD TBD TBD TBD TBD TBD $45.00 Project Status Seeking Entitlements Entitled Seeking Entitlements Planning Stages Seeking Entitlements Seeking Entitlements Under Construction (BTS) Under Construction (BTS) Seeking Entitlements Seeking Entitlements Seeking Entitlements Entitled Entitled Under Construction (SPEC) Comments Proposal by LinkedIn and SyWest for Will only develop 7 of the 42 acres. Four office buildings plus parking Propsal by LinkedIn to redevelop Microsoft to demolish three existing Google Inc. submitted an informal Phase I is complete and includes Intuit received city approval to City council authorized a gatekeeper Proposal to build one five-story Class Proposal to build one three-story Proposal to build one five-story Developer has approval to construct New Class A four-story building. a mixed-use development that Construction was scheduled to begin garage and ±20,000 square-foot their existing headquarter location. buildings and construct two new six- application to construct a four-level, apartment & retail space. Phase II is redevelop their existing location. The application to allow for an informal A, LEED Platinum ±217,000 square office building within the North office building and three to four a three-story ±70,846 square foot Property will be integrated into local would include three mixed-use retail late 2013, but was put on hold common building. Purchased by This would essentially double in size story office buildings and a new ±595,000 square foot office building, mixed use, hotel, movie theater and project will replace eight buildings review of a new six-story, ±224,508 foot building on an existing vacant Bayshore district. The developer is level parking garage. Build to suit office building, a four-story trail system, linking multiple and office buildings, three office- pending a design review by Google. Google in May 2014 for a reported their existing ±370,000-square-foot three-level parking garage. Microsoft including approximately ±72,000 two six-story office buildings totaling totaling ±118,130 square feet with square foot office building and lot. Project would include roof decks offering a community benefits only, developer will not spec. Rental ±109,927 square foot office building campuses to mass transit only buildings, a family health club, a Now Google is expected to build the $250 Million. It is unclear what the headquarters campus on Stierlin would also undergo extensive square feet of retail and amenity ±456,600 square feet. Phase II two buildings totaling ±364,000 parking structure on a vacant 5.15 and balconies, onsite trails, amenity package that would include rate is estimated in the high $5.00 and two four-story parking opportunities. Construction began multi-screen cinema and a variety of project in three phases, with the intention is with the campus at this Court. The project is in the very early renovations on two additional space. Google reportedly locked in received council approval late 2014. square feet and two parking acre lot, located on the south side of space, and 2+ acres of open space expansion and enhancement of range. structures on a 29.3-acre site with early 2015, expected delivery date additional amenities. The office completion of the final phase in point; occupy as-is or move forward stages. LinkedIn and its developers existing buildings. The net new this allocation prior to when the new Entire project was preleased by structures. Estimated completion of Plymouth Street between North and an onsite 255-room boutique adjacent habitat areas and facilities seven existing office buildings. Q2 2016. portion would total ±1,500,000 2022. with construction for the new have submitted a gatekeeper square footage is ±128,000 square North Bayshore Plan was finalized. LinkedIn May 2015. Completion is the first building is Summer 2016. Shoreline Boulevard and Alta Avenue hotel. for public recreational use. A new Google leased the existing campus square feet, with the retail campus. A request to remove application to the city, timing on the feet. expected Q3 2017. The second building will begin and safe bike trail will be built and has rights to the new component totaling ±378,505 square parking lots and the addition of a approval process is unknown. construction once the existing connecting trailheads from San construction. Developer will not feet. landscaped courtyard are under buildings are vacant, some have Antonio to Broderick as well. build without a signed lease review. tenants in place until 2017. agreement. Entitlements are vested through September 2021. Comments Project Status Allowance T.I. Shell Rate Rental Parking Ratio Parking Floors of Size Floors # of FAR (Coverage) Acreage to Divisible Bldgs of Number Size Project Total Developer Address Name Project feet. component totaling ±378,505 square retail the with feet, square portion would total ±1,500,000 additional amenities. The office and cinema variety a multi-screen of a health club, family a buildings, only three office- buildings, office and retail three mixed-use include would development thatmixed-use a SyWest and by LinkedIn for Proposal Entitlements Seeking TBD TBD TBD Underground & Structured 2.7 34,000 8 169% 23.7 N/A 6 1,500,000 SyWest& LinkedIn 1400 N. Shoreline Boulevard Commons Shoreline 2022. in phase the of final completion the three with in phases, project the expected to is build Google Now by review Google. design a pending put on hold but was late 2013, to begin scheduled was Construction Will only develop of 7 the acres. 42 Entitled TBD TBD TBD Underground & Structured TBD TBD 4 TBD 42.2 N/A 4 1,100,000 Google Road Allen & Avenue Wright Campus View Bay review. under are courtyard landscaped a of the and lots addition parking remove to A request campus. the new for construction with move or forward as-is occupy point; at this the with campus intention is Million.$250 It is unclear what the Google in May for 2014 areported by Purchased building. common garage and ±20,000 square-foot parking plus buildings Four office Entitlements Seeking TBD TBD TBD Structured & Surface 3.0 41,824 5, 6& 8 132% 23.05 228,750 4 1,045,600 Google Middlefield 700 The 700Centre 25.33 N/A TBD 800,000 Inc HCP, 2025 Stierlin Ct Campus Main LinkedIn approval process is unknown. is process approval on the to the timing city, application gatekeeper a submitted have developers its and LinkedIn stages. Court. The project is in the very early on Stierlin campus headquarters their existing ±370,000-square-foot size doublein essentially would This their existing headquarter location. to by LinkedIn redevelop Propsal StagesPlanning TBD TBD TBD TBD TBD TBD TBD 72% Project Status Allowance T.I. Shell Rate Rental Parking Ratio Parking Floors of Size Floors # of FAR (Coverage) Acreage to Divisible Bldgs of Number Size Project Total Developer Address Name Project Comments Address Project Name feet. square footage is ±128,000 square The net new buildings. existing additional two on renovations extensive undergo also would three-level parking garage. Microsoft new a and buildings office story two new six- construct and buildings Microsoft to demolish three existing Entitlements Seeking TBD TBD TBD Structured & Surface TBD TBD 6 46% 32.0 N/A 5 643,000 Misson West 1045-1085 La Avenida Street Campus Microsoft 1045-1085 LaAvenida Street Microsoft Campus feet. component totaling ±378,505 square retail the with feet, square portion would total ±1,500,000 additional amenities. The office and cinema variety a multi-screen of a health club, family a buildings, only three office- buildings, office and retail three mixed-use include would development thatmixed-use a SyWest and by LinkedIn for Proposal Entitlements Seeking TBD TBD TBD Underground & Structured 2.7 34,000 8 169% 23.7 N/A 6 1,500,000 SyWest& LinkedIn 1400 N. Shoreline Boulevard Commons Shoreline 5 North Bayshore Plan was finalized. was Plan Bayshore North to when the new prior allocation this space. Google reportedly locked in square feet retail and of amenity including approximately ±72,000 building, office foot square ±595,000 application to construct afour-level, informal an submitted Inc. Google Entitlements Seeking TBD TBD Underground TBD TBD 148,750 4 73% 18.6 N/A 1 595,000 Google 2000 North Shoreline Boulevard East Charleston Huff Avenue &Joaquin Road Charleston East 2022. in phase the of final completion the three with in phases, project the expected to is build Google Now by review Google. design a pending put on hold but was late 2013, to begin scheduled was Construction Will only develop of 7 the acres. 42 Entitled TBD TBD TBD Underground & Structured TBD TBD 4 TBD 42.2 N/A 4 1,100,000 Google Road Allen & Avenue Wright Campus View Bay 6 San AntonioCenter atSanAntonio The Village expected Q3 2017. is Completion MayLinkedIn 2015. by preleased was project Entire received council approval late 2014. ±456,600 square feet. Phase II two six-story office buildings totaling and theater movie hotel, use, mixed apartment & retail space. Phase II is Phase complete I is and includes (BTS) Construction Under $50.00 Warm $5.75 NNN Structured & Surface 3.0 TBD 6 105% 9.9 50,000 2 456,600 Merlone Geier Partners Real Camino El & Antonio San Center Antonio San at Village The review. under are courtyard landscaped a of the and lots addition parking remove to A request campus. the new for construction with move or forward as-is occupy point; at this the with campus intention is Million.$250 It is unclear what the Google in May for 2014 areported by Purchased building. common garage and ±20,000 square-foot parking plus buildings Four office Entitlements Seeking TBD TBD TBD Structured & Surface 3.0 41,824 5, 6& 8 132% 23.05 228,750 4 1,045,600 Google Middlefield 700 The 700Centre 7 Mountain View tenants in place until 2017. until place tenants in have some vacant, are buildings the once existing construction begin will building The second the first building is Summer 2016. structures. Estimated completion of feet two parking and square two buildings totaling ±364,000 totaling ±118,130 square feet with project will replace eight buildings redevelop their existing location. The Intuit received city approval to (BTS) Construction Under TBD TBD TBD Underground & Structured 3.0 45,500 4 100% 9.62 N/A 2 364,000 Intuit 2600 Marine Parkway Campus Intuit approval process is unknown. is process approval on the to the timing city, application gatekeeper a submitted have developers its and LinkedIn stages. Court. The project is in the very early on Stierlin campus headquarters their existing ±370,000-square-foot size doublein essentially would This their existing headquarter location. to by LinkedIn redevelop Propsal StagesPlanning TBD TBD TBD TBD TBD TBD TBD 72% 25.33 N/A TBD 800,000 Inc HCP, 2025 Stierlin Ct Campus Main LinkedIn 2600 MarineParkway Intuit Campus 8 Shoreline Boulevard and AltaAvenue and Boulevard Shoreline StreetPlymouth between North on the of lot, located side south acre 5.15 vacant on a structure parking and building office foot square review of anew six-story, ±224,508 application to allow for an informal City council authorized agatekeeper Entitlements Seeking TBD TBD TBD Structured TBD 37,000 6 100% 5.15 37,000 1 224,505 Capital PartnersBroadreach 1625 Plymouth Street feet. square footage is ±128,000 square The net new buildings. existing additional two on renovations extensive undergo also would three-level parking garage. Microsoft new a and buildings office story two new six- construct and buildings Microsoft to demolish three existing Entitlements Seeking TBD TBD TBD Structured & Surface TBD TBD 6 46% 32.0 N/A 5 643,000 Misson West 1045-1085 La Avenida Street Campus Microsoft West Valley San Jose Santa Clara Sunnyvale Mountain viewView Palo Alto hotel. hotel. boutique 255-room onsite an and space open of acres 2+ and space, amenity trails, onsite balconies, and decks roof include would lot. Project vacant existing on an building foot A, LEED Platinum±217,000 square Class one five-story to build Proposal Entitlements Seeking TBD Warm TBD Structured & Surface 3.1 34,000 47,000 - 5 82% 6.06 46,000 1 217,000 Capital PartnersBroadreach 750 Moffett Boulevard North Bayshore Plan was finalized. was Plan Bayshore North to when the new prior allocation this space. Google reportedly locked in square feet retail and of amenity including approximately ±72,000 building, office foot square ±595,000 application to construct afour-level, informal an submitted Inc. Google Entitlements Seeking TBD TBD Underground TBD TBD 148,750 4 73% 18.6 N/A 1 595,000 Google 2000 North Shoreline Boulevard East Charleston Antonio to Broderick as well. San from trailheads connecting and safe bike trail will be built use. A new recreational public for adjacent habitat and areas facilities enhancement and of expansion include that would package benefits community a offering Bayshore district. The developer is the North within building office one three-story to build Proposal Entitlements Seeking TBD TBD TBD Underground 2.7 63,000 3 65% 7 TBD 1 190,876 Properties Rees 2629 Terminal Boulevard Project Park Bayfront expected Q3 2017. is Completion MayLinkedIn 2015. by preleased was project Entire received council approval late 2014. ±456,600 square feet. Phase II two six-story office buildings totaling use, hotel,mixed movie theater and apartment & retail space. Phase II is Phase complete I is and includes (BTS) Construction Under $50.00 Warm $5.75 NNN Structured & Surface 3.0 TBD 6 105% 9.9 50,000 2 456,600 Merlone Geier Partners Real Camino El & Antonio San Center Antonio San at Village The range. $5.00 the estimated in high rate is Rental not spec. only, developer will level parking garage. Build to suit three and to four building office one five-story to build Proposal Entitled TBD Warm $5.75 Structured 3.33 38,000 5 85% 5.15 35,000 1 190,000 Renault& Handley 580-620 Clyde Avenue tenants in place until 2017. until place tenants in have some vacant, are buildings the once existing construction begin will building The second the first building is Summer 2016. structures. Estimated completion of feet two parking and square two buildings totaling ±364,000 totaling ±118,130 square feet with project will replace eight buildings redevelop their existing location. The Intuit received city approval to (BTS) Construction Under TBD TBD TBD Underground & Structured 3.0 45,500 4 100% 9.62 N/A 2 364,000 Intuit 2600 Marine Parkway Campus Intuit Shoreline Boulevard and AltaAvenue and Boulevard Shoreline StreetPlymouth between North on the of lot, located side south acre 5.15 vacant on a structure parking and building office foot square review of anew six-story, ±224,508 application to allow for an informal City council authorized agatekeeper Entitlements Seeking TBD TBD TBD Structured TBD 37,000 6 100% 5.15 37,000 1 224,505 Capital PartnersBroadreach 1625 Plymouth Street through Septemberthrough 2021. vested are Entitlements agreement. lease signed a without build construction. Developer will not to the new rights has and Google leased the existing campus buildings. office seven existing structures on a29.3-acre site with parking two four-story and building office foot square ±109,927 office building, afour-story athree-story ±70,846 square foot to construct Developer approval has Entitled TBD TBD TBD Structured 3.5 25,000 & 4 3 49% 29.3 70,000 2 180,773 Ventures Lovewell Keenan 369 North Whisman Road Quad The hotel. hotel. boutique 255-room onsite an and open space of acres 2+ and space, amenity trails, onsite balconies, and decks roof include would lot. Project vacant existing on an building foot A, LEED Platinum±217,000 square Class one five-story to build Proposal Entitlements Seeking TBD Warm TBD Structured & Surface 3.1 34,000 47,000 - 5 82% 6.06 46,000 1 217,000 Capital PartnersBroadreach 750 Moffett Boulevard Q2 2016. date delivery expected 2015, early began Construction opportunities. to transitcampuses mass trail system, linking multiple Property will be integrated into local building. A four-story New Class (SPEC) Construction Under $45.00 Warm $5.25 NNN Surface 3.3 32,707 36,406 - 4 72% 4.8 TBD 1 151,998 AvenueNational Partners 600 National Avenue Antonio to Broderick as well. San from trailheads connecting and safe bike trail will be built use. A new recreational public for adjacent habitat and areas facilities enhancement and of expansion include that would package benefits community a offering Bayshore district. The developer is the North within building office one three-story to build Proposal Entitlements Seeking TBD TBD TBD Underground 2.7 63,000 3 65% 7 TBD 1 190,876 Properties Rees 2629 Terminal Boulevard Project Park Bayfront range. $5.00 the estimated in high rate is Rental not spec. only, developer will level parking garage. Build to suit three and to four building office one five-story to build Proposal Entitled TBD Warm $5.75 Structured 3.33 38,000 5 85% 5.15 35,000 1 190,000 Renault& Handley 580-620 Clyde Avenue through Septemberthrough 2021. vested are Entitlements agreement. lease signed a without build construction. Developer will not to the new rights has and Google leased the existing campus buildings. office seven existing structures on a29.3-acre site with parking two four-story and building office foot square ±109,927 office building, afour-story athree-story ±70,846 square foot to construct Developer approval has Entitled TBD TBD TBD Structured 3.5 25,000 & 4 3 49% 29.3 70,000 2 180,773 Ventures Lovewell Keenan 369 North Whisman Road Quad The Q2 2016. date delivery expected 2015, early began Construction opportunities. to transitcampuses mass trail system, linking multiple Property will be integrated into local building. A four-story New Class (SPEC) Construction Under $45.00 Warm $5.25 NNN Surface 3.3 32,707 36,406 - 4 72% 4.8 TBD 1 151,998 AvenueNational Partners 600 National Avenue Mountain View

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The Village at The Village at Project Name Shoreline Commons Bay View Campus The 700 Centre LinkedIn Main Campus Microsoft Campus Charleston East Intuit Campus ProjectProject Name Name Shoreline Commons Bay View Campus TheBayfront 700 Centre ParkPark Project Project LinkedIn Main Campus MicrosoftThe Quad Campus Charleston East Intuit Campus Bayfront Park Project The Quad San Antonio Center 1625 Plymouth Street 750 Moffett Boulevard 580-620 Clyde Avenue 600 National Avenue San Antonio Center 1625 Plymouth Street 750 Moffett Boulevard 580-620 Clyde Avenue 600 National Avenue Address 1400 N. Shoreline Boulevard Wright Avenue & Allen Road 700 Middlefield 2025 Stierlin Ct 1045-1085 La Avenida Street 2000 North Shoreline Boulevard 2600 Marine ParkwayAddress 1400 N. Shoreline Boulevard Wright Avenue & Allen Road 7002629 Middlefield Terminal Boulevard 2025 Stierlin Ct 1045-1085369 North WhismanLa Avenida Road Street 2000 North Shoreline Boulevard 2600 Marine Parkway 2629 Terminal Boulevard 369 North Whisman Road San Antonio & El Camino Real Address 1625 Plymouth Street 750 Moffett Boulevard 2629 Terminal Boulevard 580-620 Clyde Avenue San Antonio & El Camino Real Developer LinkedIn & SyWest Google Google HCP, Inc Misson West Google Merlone Geier Partners Intuit Developer LinkedInBroadreach & SyWest Capital Partners GoogleBroadreach Capital Partners GoogleRees Properties HCP,Renault Inc & Handley MissonKeenan WestLovewell Ventures GoogleNational Avenue Partners Merlone Geier Partners Intuit Broadreach Capital Partners Broadreach Capital Partners Rees Properties Renault & Handley Keenan Lovewell Ventures National Avenue Partners Total Project Size 1,500,000 1,100,000 1,045,600 800,000 643,000 595,000 456,600 364,000 Total Project Size 1,500,000224,505 1,100,000217,000 1,045,600190,876 800,000190,000 643,000180,773 595,000151,998 456,600 364,000 224,505 217,000 190,876 190,000 180,773 151,998 Number of Bldgs 6 4 4 TBD 5 1 2 2 Number of Bldgs 61 41 41 TBD1 52 1 2 2 1 1 1 1 2 1 Divisible to N/A N/A 228,750 N/A N/A N/A 50,000 N/A Divisible to N/A37,000 N/A46,000 228,750TBD N/A35,000 N/A70,000 N/ATBD 50,000 N/A 37,000 46,000 TBD 35,000 70,000 TBD Acreage 23.7 42.2 23.05 25.33 32.0 18.6 9.9 9.62 Acreage 23.75.15 42.26.06 23.057 25.335.15 32.029.3 18.64.8 9.9 9.62 5.15 6.06 7 5.15 29.3 4.8 FAR (Coverage) 169% TBD 132% 72% 46% 73% 105% 100% FAR (Coverage) 169%100% TBD82% 132%65% 72%85% 46%49% 73%72% 105% 100% 100% 82% 65% 85% 49% 72% # of Floors 8 4 5, 6 & 8 TBD 6 4 6 4 # of Floors 86 45 5,3 6 & 8 TBD5 63 & 4 4 6 4 6 5 3 5 3 & 4 4 Size of Floors 34,000 TBD 41,824 TBD TBD 148,750 TBD 45,500 Size of Floors 34,00037,000 TBD34,000 - 47,000 41,82463,000 TBD38,000 TBD25,000 148,75032,707 - 36,406 TBD 45,500 37,000 34,000 - 47,000 63,000 38,000 25,000 32,707 - 36,406 Parking Ratio 2.7 TBD 3.0 TBD TBD TBD 3.0 3.0 Parking Ratio 2.7TBD TBD3.1 3.02.7 TBD3.33 TBD3.5 TBD3.3 3.0 3.0 TBD 3.1 2.7 3.33 3.5 3.3 Parking Structured & Underground Structured & Underground Surface & Structured TBD Surface & Structured TBD Surface & Structured Structured & UndergroundParking Structured & Underground StructuredSurface & Structured & Underground SurfaceUnderground & Structured TBDStructured SurfaceStructured & Structured TBDSurface Surface & Structured Structured & Underground Structured Surface & Structured Underground Structured Structured Surface Rental Rate TBD TBD TBD TBD TBD Underground $5.75 NNN TBD Rental Rate TBD TBD TBD TBD$5.75 TBD Underground$5.25 NNN $5.75 NNN TBD TBD TBD TBD $5.75 TBD $5.25 NNN Shell TBD TBD TBD TBD TBD TBD Warm TBD Shell TBD TBDWarm TBD TBDWarm TBD TBDWarm Warm TBD TBD Warm TBD Warm TBD Warm T.I. Allowance TBD TBD TBD TBD TBD TBD $50.00 TBD T.I. Allowance TBD TBD TBD TBD TBD TBD$45.00 $50.00 TBD TBD TBD TBD TBD TBD $45.00 Project Status Seeking Entitlements Entitled Seeking Entitlements Planning Stages Seeking Entitlements Seeking Entitlements Under Construction (BTS) Under ConstructionProject (BTS) Status Seeking Entitlements EntitledSeeking Entitlements Seeking Entitlements PlanningEntitled Stages SeekingEntitled Entitlements SeekingUnder Construction Entitlements (SPEC) Under Construction (BTS) Under Construction (BTS) Seeking Entitlements Seeking Entitlements Seeking Entitlements Entitled Entitled Under Construction (SPEC) Comments Proposal by LinkedIn and SyWest for Will only develop 7 of the 42 acres. Four office buildings plus parking Propsal by LinkedIn to redevelop Microsoft to demolish three existing Google Inc. submitted an informal Phase I is complete and includes Intuit received cityComments approval to ProposalCity council by authorizedLinkedIn and a gatekeeperSyWest for WillProposal only developto build one7 of five-storythe 42 acres. Class FourProposal office to buildings build one plus three-story parking PropsalProposal by to LinkedIn build one to five-storyredevelop MicrosoftDeveloper tohas demolish approval three to construct existing GoogleNew Class Inc. A submitted four-story an building. informal Phase I is complete and includes Intuit received city approval to City council authorized a gatekeeper Proposal to build one five-story Class Proposal to build one three-story Proposal to build one five-story Developer has approval to construct New Class A four-story building. a mixed-use development that Construction was scheduled to begin garage and ±20,000 square-foot their existing headquarter location. buildings and construct two new six- application to construct a four-level, apartment & retail space. Phase II is redevelop their existing location. The aapplication mixed-use to development allow for an that informal ConstructionA, LEED Platinum was ±217,000scheduled square to begin garageoffice building and ±20,000 within square-foot the North theiroffice existing building headquarter and three to location. four buildingsa three-story and ±70,846construct square two new foot six- applicationProperty will to be construct integrated a four-level, into local apartment & retail space. Phase II is redevelop their existing location. The application to allow for an informal A, LEED Platinum ±217,000 square office building within the North office building and three to four a three-story ±70,846 square foot Property will be integrated into local would include three mixed-use retail late 2013, but was put on hold common building. Purchased by This would essentially double in size story office buildings and a new ±595,000 square foot office building, mixed use, hotel, movie theater and project will replace eight buildings wouldreview include of a new three six-story, mixed-use ±224,508 retail latefoot 2013,building but on was an put existing on hold vacant commonBayshore building.district. ThePurchased developer by is Thislevel would parking essentially garage. Build double to suitin size storyoffice office building, buildings a four-story and a new ±595,000trail system, square linking foot multiple office building, mixed use, hotel, movie theater and project will replace eight buildings review of a new six-story, ±224,508 foot building on an existing vacant Bayshore district. The developer is level parking garage. Build to suit office building, a four-story trail system, linking multiple and office buildings, three office- pending a design review by Google. Google in May 2014 for a reported their existing ±370,000-square-foot three-level parking garage. Microsoft including approximately ±72,000 two six-story office buildings totaling totaling ±118,130 square feet with andsquare office foot buildings, office building three office-and pendinglot. Project a design would review include by roof Google. decks Googleoffering in a Maycommunity 2014 for benefits a reported theironly, existingdeveloper ±370,000-square-foot will not spec. Rental three-level±109,927 square parking foot garage. office Microsoft building includingcampuses approximately to mass transit ±72,000 two six-story office buildings totaling totaling ±118,130 square feet with square foot office building and lot. Project would include roof decks offering a community benefits only, developer will not spec. Rental ±109,927 square foot office building campuses to mass transit only buildings, a family health club, a Now Google is expected to build the $250 Million. It is unclear what the headquarters campus on Stierlin would also undergo extensive square feet of retail and amenity ±456,600 square feet. Phase II two buildings totaling ±364,000 onlyparking buildings, structure a family on a vacant health 5.15club, a Nowand balconies, Google is expectedonsite trails, to build amenity the $250package Million. that wouldIt is unclear include what the headquartersrate is estimated campus in the on high Stierlin $5.00 wouldand two also four-story undergo parking extensive squareopportunities. feet of retailConstruction and amenity began ±456,600 square feet. Phase II two buildings totaling ±364,000 parking structure on a vacant 5.15 and balconies, onsite trails, amenity package that would include rate is estimated in the high $5.00 and two four-story parking opportunities. Construction began multi-screen cinema and a variety of project in three phases, with the intention is with the campus at this Court. The project is in the very early renovations on two additional space. Google reportedly locked in received council approval late 2014. square feet and two parking multi-screenacre lot, located cinema on the and south a variety side of projectspace, and in three 2+ acres phases, of open with spacethe intentionexpansion is and with enhancement the campus atof this Court.range. The project is in the very early renovationsstructures on on a two29.3-acre additional site with space.early 2015, Google expected reportedly delivery locked date in received council approval late 2014. square feet and two parking acre lot, located on the south side of space, and 2+ acres of open space expansion and enhancement of range. structures on a 29.3-acre site with early 2015, expected delivery date additional amenities. The office completion of the final phase in point; occupy as-is or move forward stages. LinkedIn and its developers existing buildings. The net new this allocation prior to when the new Entire project was preleased by structures. Estimated completion of additionalPlymouth Streetamenities. between The officeNorth completionand an onsite of 255-roomthe final phase boutique in point;adjacent occupy habitat as-is areas or move and facilities forward stages. LinkedIn and its developers existingseven existing buildings. office The buildings. net new thisQ2 2016.allocation prior to when the new Entire project was preleased by structures. Estimated completion of Plymouth Street between North and an onsite 255-room boutique adjacent habitat areas and facilities seven existing office buildings. Q2 2016. portion would total ±1,500,000 2022. with construction for the new have submitted a gatekeeper square footage is ±128,000 square North Bayshore Plan was finalized. LinkedIn May 2015. Completion is the first building is Summer 2016. portionShoreline would Boulevard total ±1,500,000 and Alta Avenue 2022.hotel. withfor public construction recreational for the use. new A new have submitted a gatekeeper squareGoogle footageleased the is ±128,000 existing campus square North Bayshore Plan was finalized. LinkedIn May 2015. Completion is the first building is Summer 2016. Shoreline Boulevard and Alta Avenue hotel. for public recreational use. A new Google leased the existing campus square feet, with the retail campus. A request to remove application to the city, timing on the feet. expected Q3 2017. The second building will begin square feet, with the retail campus.and safe Abike request trail willto remove be built application to the city, timing on the feet.and has rights to the new expected Q3 2017. The second building will begin and safe bike trail will be built and has rights to the new component totaling ±378,505 square parking lots and the addition of a approval process is unknown. construction once the existing component totaling ±378,505 square parkingconnecting lots trailheadsand the addition from San of a approval process is unknown. construction. Developer will not construction once the existing connecting trailheads from San construction. Developer will not feet. landscaped courtyard are under buildings are vacant, someCOLLIERS have INTERNATIONALfeet. NEW DEVELOPMENT PIPELINE landscapedAntonio to Broderick courtyard as are well. under build without a signed lease buildings are vacant, some have Antonio to Broderick as well. build without a signed lease review. tenants in place until20 2017.SILICON VALLEY MTN. VIEW JULY 2016 review. agreement. Entitlements are vested tenants in place until 2017. agreement. Entitlements are vested through September 2021. through September 2021. Palo Alto

13 14 15 16 Mountain View Mountain view

The Village at The Village at Project Name LinkedIn Main Campus Microsoft Campus Charleston East Intuit Campus Bayfront Park Project ProjectProject Name Name TheShorelineThe Quad Quad Commons Bay View Campus The 700 Centre LinkedIn Main Campus Microsoft Campus Charleston East Intuit Campus Bayfront Park Project The Quad San Antonio Center 1625 Plymouth Street 750 Moffett Boulevard 580-620 Clyde Avenue 600 National Avenue 1001 Shoreline 599 Castro Street 1075 Terra Bella Avenue San Antonio Center 1625 Plymouth Street 750 Moffett Boulevard 580-620 Clyde Avenue 600 National Avenue Address 2025 Stierlin Ct 1045-1085 La Avenida Street 2000 North Shoreline Boulevard 2600 Marine Parkway 2629 Terminal Boulevard Address 3691400 North N. Shoreline Whisman Boulevard Road Wright Avenue & Allen Road 700 Middlefield 2025 Stierlin Ct 1045-1085 La Avenida Street 2000 North Shoreline Boulevard 2600 Marine Parkway 2629 Terminal Boulevard 369 North Whisman Road San Antonio & El Camino Real Address 369 North Whisman Road 600 National Avenue 1001 Shoreline 599 Castro Street San Antonio & El Camino Real Sunnyvale Developer HCP, Inc Misson West Google Merlone Geier Partners Intuit Broadreach Capital Partners Broadreach Capital Partners Rees Properties Renault & HandleyDeveloper KeenanLinkedIn Lovewell & SyWest Ventures NationalGoogle Avenue Partners Carlyle/CalvanoGoogle Development SobratoHCP, Inc Development CalvanoMisson WestDevelopment Google Merlone Geier Partners Intuit Broadreach Capital Partners Broadreach Capital Partners Rees Properties Renault & Handley Keenan Lovewell Ventures National Avenue Partners Total Project Size 800,000 643,000 595,000 456,600 364,000 224,505 217,000 190,876 190,000 Total Project Size 180,7731,500,000 151,9981,100,000 132,6901,045,600 102,918800,000 14,043643,000 595,000 456,600 364,000 224,505 217,000 190,876 190,000 180,773 151,998 Number of Bldgs TBD 5 1 2 2 1 1 1 1 Number of Bldgs 26 14 14 1TBD 15 1 2 2 1 1 1 1 2 1 Divisible to N/A N/A N/A 50,000 N/A 37,000 46,000 TBD 35,000 Divisible to 70,000N/A TBDN/A TBD228,750 25,000N/A 14,043N/A N/A 50,000 N/A 37,000 46,000 TBD 35,000 70,000 TBD Acreage 25.33 32.0 18.6 9.9 9.62 5.15 6.06 7 5.15 Acreage 29.323.7 4.842.2 7.3223.05 1.7825.33 0.8532.0 18.6 9.9 9.62 5.15 6.06 7 5.15 29.3 4.8 FAR (Coverage) 72% 46% 73% 105% 100% 100% 82% 65% 85% FAR (Coverage) 49%169% 72%TBD 37%132% 132%72% 38%46% 73% 105% 100% 100% 82% 65% 85% 49% 72% # of Floors TBD 6 4 6 4 6 5 3 5 # of Floors 38 & 4 4 45, 6 & 8 4TBD 16 4 6 4 6 5 3 5 3 & 4 4 Santa Clara Size of Floors TBD TBD 148,750 TBD 45,500 37,000 34,000 - 47,000 63,000 38,000 Size of Floors 25,00034,000 32,707TBD - 36,406 31,00041,824 25,000TBD 14,043TBD 148,750 TBD 45,500 37,000 34,000 - 47,000 63,000 38,000 25,000 32,707 - 36,406 Parking Ratio TBD TBD TBD 3.0 3.0 TBD 3.1 2.7 3.33 Parking Ratio 3.52.7 3.3TBD 3.0 3.0TBD 3.1TBD TBD 3.0 3.0 TBD 3.1 2.7 3.33 3.5 3.3 Parking TBD Surface & Structured TBD Surface & Structured Structured & Underground Structured Surface & Structured Underground Structured Parking Structured & Underground SurfaceStructured & Underground Surface & Structured UndergroundTBD Surface & Structured TBD Surface & Structured Structured & Underground Structured Surface & Structured Underground Structured Structured Surface Rental Rate TBD TBD Underground $5.75 NNN TBD TBD TBD TBD $5.75 Rental Rate TBD $5.25TBD NNN $6.50TBD NNN TBD $3.50TBD NNN Underground $5.75 NNN TBD TBD TBD TBD $5.75 TBD $5.25 NNN Shell TBD TBD TBD Warm TBD TBD Warm TBD Warm Shell TBD WarmTBD WarmTBD WarmTBD WarmTBD TBD Warm TBD TBD Warm TBD Warm TBD Warm T.I. Allowance TBD TBD TBD $50.00 TBD TBD TBD TBD TBD T.I. Allowance TBD $45.00TBD $50.00TBD TBD TBD TBD $50.00 TBD TBD TBD TBD TBD TBD $45.00 Project Status Planning Stages Seeking Entitlements Seeking Entitlements Under Construction (BTS) Under Construction (BTS) Seeking Entitlements Seeking Entitlements Seeking Entitlements Entitled Project Status EntitledSeeking Entitlements UnderEntitled Construction (SPEC) UnderSeeking Construction Entitlements (BTS) EntitledPlanning Stages SeekingSan Jose Entitlements Seeking Entitlements Under Construction (BTS) Under Construction (BTS) Seeking Entitlements Seeking Entitlements Seeking Entitlements Entitled Entitled Under Construction (SPEC) Comments Propsal by LinkedIn to redevelop Microsoft to demolish three existing Google Inc. submitted an informal Phase I is complete and includes Intuit received city approval to City council authorized a gatekeeper Proposal to build one five-story Class Proposal to build one three-story Proposal to build oneComments five-story DeveloperProposal by has LinkedIn approval and to SyWest construct for NewWill onlyClass develop A four-story 7 of the building. 42 acres. CalvanoFour office has buildings proposed plus a new parking zoning NewPropsal four-story by LinkedIn class to A redevelopoffice PotentialMicrosoft for to ademolish new freestanding three existing Google Inc. submitted an informal Phase I is complete and includes Intuit received city approval to City council authorized a gatekeeper Proposal to build one five-story Class Proposal to build one three-story Proposal to build one five-story Developer has approval to construct New Class A four-story building. their existing headquarter location. buildings and construct two new six- application to construct a four-level, apartment & retail space. Phase II is redevelop their existing location. The application to allow for an informal A, LEED Platinum ±217,000 square office building within the North office building and three to four a three-storymixed-use development±70,846 square that foot PropertyConstruction will bewas integrated scheduled into to beginlocal forgarage the Terraand ±20,000 Bella precise square-foot plan that buildingtheir existing in the headquarter heart of downtown location. ±14,043buildings SF and building. construct Land two use new would six- application to construct a four-level, apartment & retail space. Phase II is redevelop their existing location. The application to allow for an informal A, LEED Platinum ±217,000 square office building within the North office building and three to four a three-story ±70,846 square foot Property will be integrated into local This would essentially double in size story office buildings and a new ±595,000 square foot office building, mixed use, hotel, movie theater and project will replace eight buildings review of a new six-story, ±224,508 foot building on an existing vacant Bayshore district. The developer is level parking garage. Build to suit officewould building, include three a four-story mixed-use retail traillate 2013,system, but linking was put multiple on hold wouldcommon allow building. higher Purchased density. This by site MountainThis would View. essentially Will include double multiple in size allowstory officefor an buildingsoffice, R&D, and or a new ±595,000 square foot office building, mixed use, hotel, movie theater and project will replace eight buildings review of a new six-story, ±224,508 foot building on an existing vacant Bayshore district. The developer is level parking garage. Build to suit office building, a four-story trail system, linking multiple their existing ±370,000-square-foot three-level parking garage. Microsoft including approximately ±72,000 two six-story office buildings totaling totaling ±118,130 square feet with square foot office building and lot. Project would include roof decks offering a community benefits only, developer will not spec. Rental ±109,927and office square buildings, foot three office office- building campusespending a todesign mass review transit by Google. wouldGoogle require in May approval 2014 for fora reported amenitiestheir existing areas, ±370,000-square-foot roof deck and industrialthree-level building parking - garage.available Microsoft on including approximately ±72,000 two six-story office buildings totaling totaling ±118,130 square feet with square foot office building and lot. Project would include roof decks offering a community benefits only, developer will not spec. Rental ±109,927 square foot office building campuses to mass transit headquarters campus on Stierlin would also undergo extensive square feet of retail and amenity ±456,600 square feet. Phase II two buildings totaling ±364,000 parking structure on a vacant 5.15 and balconies, onsite trails, amenity package that would include rate is estimated in the high $5.00 andonly two buildings, four-story a family parking health club, a opportunities.Now Google is Constructionexpected to buildbegan the combining$250 Million. eight It is lots unclear into one what parcel the terraces.headquarters Expected campus delivery on Stierlin in 2018. build-to-suitwould also undergo basis. Modern extensive design square feet of retail and amenity ±456,600 square feet. Phase II two buildings totaling ±364,000 parking structure on a vacant 5.15 and balconies, onsite trails, amenity package that would include rate is estimated in the high $5.00 and two four-story parking opportunities. Construction began Court. The project is in the very early renovations on two additional space. Google reportedly locked in received council approval late 2014. square feet and two parking acre lot, located on the south side of space, and 2+ acres of open space expansion and enhancement of range. structuresmulti-screen on cinemaa 29.3-acre and asite variety with of earlyproject 2015, in three expected phases, delivery with thedate tointention allow up is towith ±400,000 the campus square at thisfeet Court. The project is in the very early withrenovations flexible onfloorplan. two additional Outdoor space. Google reportedly locked in received council approval late 2014. square feet and two parking acre lot, located on the south side of space, and 2+ acres of open space expansion and enhancement of range. structures on a 29.3-acre site with early 2015, expected delivery date stages. LinkedIn and its developers existing buildings. The net new this allocation prior to when the new Entire project was preleased by structures. Estimated completion of Plymouth Street between North and an onsite 255-room boutique adjacent habitat areas and facilities sevenadditional existing amenities. office buildings. The office Q2completion 2016. of the final phase in ofpoint; new occupy office space. as-is or Phase move I forward stages. LinkedIn and its developers workexisting environment Valley West buildings. Thethat net supports new this allocation prior to when the new Entire project was preleased by structures. Estimated completion of Plymouth Street between North and an onsite 255-room boutique adjacent habitat areas and facilities seven existing office buildings. Q2 2016. have submitted a gatekeeper square footage is ±128,000 square North Bayshore Plan was finalized. LinkedIn May 2015. Completion is the first building is Summer 2016. Shoreline Boulevard and Alta Avenue hotel. for public recreational use. A new Googleportion leasedwould thetotal existing ±1,500,000 campus 2022. preleasedwith construction by Google for December the new have submitted a gatekeeper collaborativesquare footage interaction is ±128,000 and square North Bayshore Plan was finalized. LinkedIn May 2015. Completion is the first building is Summer 2016. Shoreline Boulevard and Alta Avenue hotel. for public recreational use. A new Google leased the existing campus application to the city, timing on the feet. expected Q3 2017. The second building will begin and safe bike trail will be built andsquare has feet, rights with to thethe newretail 2015.campus. A request to remove application to the city, timing on the recreation.feet. expected Q3 2017. The second building will begin and safe bike trail will be built and has rights to the new approval process is unknown. construction once the existing connecting trailheads from San construction.component totaling Developer ±378,505 will not square parking lots and the addition of a approval process is unknown. construction once the existing connecting trailheads from San construction. Developer will not buildings are vacant, some have Antonio to Broderick as well. buildfeet. without a signed lease landscapedCOLLIERS courtyard INTERNATIONAL are under NEW DEVELOPMENT PIPELINE buildings are vacant, some have Antonio to Broderick as well. build without a signed lease tenants in place until 2017. agreement. Entitlements are vested review. SILICON VALLEY MTN. VIEW JULY 2016 21 tenants in place until 2017. agreement. Entitlements are vested through September 2021. through September 2021. Mountain View

The Village at The Village at Project Name LinkedIn Main Campus Microsoft Campus Charleston East Intuit Campus Bayfront Park Project The Quad ProjectProject Name Name Shoreline Commons Bay View Campus The 700 Centre LinkedIn Main Campus Microsoft Campus Charleston East Intuit Campus Bayfront Park Project The Quad San Antonio Center 1625 Plymouth Street 750 Moffett Boulevard 580-620 Clyde Avenue 600 National Avenue 1001 Shoreline 599 Castro Street 1075 Terra Bella Avenue San Antonio Center 1625 Plymouth Street 750 Moffett Boulevard 580-620 Clyde Avenue 600 National Avenue Address 2025 Stierlin Ct 1045-1085 La Avenida Street 2000 North Shoreline Boulevard 2600 Marine Parkway 2629 Terminal Boulevard 369 North Whisman Road Address 1400 N. Shoreline Boulevard Wright Avenue & Allen Road 700 Middlefield 2025 Stierlin Ct 1045-1085 La Avenida Street 2000 North Shoreline Boulevard 2600 Marine Parkway 2629 Terminal Boulevard 369 North Whisman Road San Antonio & El Camino Real Address 1075 Terra Bella Avenue 600 National Avenue 1001 Shoreline 599 Castro Street San Antonio & El Camino Real Developer HCP, Inc Misson West Google Merlone Geier Partners Intuit Broadreach Capital Partners Broadreach Capital Partners Rees Properties Renault & Handley Keenan Lovewell Ventures National Avenue Partners Carlyle/Calvano Development Sobrato DevelopmentDeveloper LinkedInCalvano &Development SyWest Google Google HCP, Inc Misson West Google Merlone Geier Partners Intuit Broadreach Capital Partners Broadreach Capital Partners Rees Properties Renault & Handley Keenan Lovewell Ventures National Avenue Partners Total Project Size 800,000 643,000 595,000 456,600 364,000 224,505 217,000 190,876 190,000 180,773 151,998 132,690 102,918 Total Project Size 1,500,00014,043 1,100,000 1,045,600 800,000 643,000 595,000 456,600 364,000 224,505 217,000 190,876 190,000 180,773 151,998 Number of Bldgs TBD 5 1 2 2 1 1 1 1 2 1 1 1 Number of Bldgs 61 4 4 TBD 5 1 2 2 1 1 1 1 2 1 Divisible to N/A N/A N/A 50,000 N/A 37,000 46,000 TBD 35,000 70,000 TBD TBD 25,000 Divisible to N/A14,043 N/A 228,750 N/A N/A N/A 50,000 N/A 37,000 46,000 TBD 35,000 70,000 TBD Acreage 25.33 32.0 18.6 9.9 9.62 5.15 6.06 7 5.15 29.3 4.8 7.32 1.78 Acreage 23.70.85 42.2 23.05 25.33 32.0 18.6 9.9 9.62 5.15 6.06 7 5.15 29.3 4.8 FAR (Coverage) 72% 46% 73% 105% 100% 100% 82% 65% 85% 49% 72% 37% 132% FAR (Coverage) 169%38% TBD 132% 72% 46% 73% 105% 100% 100% 82% 65% 85% 49% 72% # of Floors TBD 6 4 6 4 6 5 3 5 3 & 4 4 4 4 # of Floors 81 4 5, 6 & 8 TBD 6 4 6 4 6 5 3 5 3 & 4 4 Size of Floors TBD TBD 148,750 TBD 45,500 37,000 34,000 - 47,000 63,000 38,000 25,000 32,707 - 36,406 31,000 25,000 Size of Floors 34,00014,043 TBD 41,824 TBD TBD 148,750 TBD 45,500 37,000 34,000 - 47,000 63,000 38,000 25,000 32,707 - 36,406 Parking Ratio TBD TBD TBD 3.0 3.0 TBD 3.1 2.7 3.33 3.5 3.3 3.0 3.0 Parking Ratio 2.73.1 TBD 3.0 TBD TBD TBD 3.0 3.0 TBD 3.1 2.7 3.33 3.5 3.3 Parking TBD Surface & Structured TBD Surface & Structured Structured & Underground Structured Surface & Structured Underground Structured Structured Surface Surface Underground Parking StructuredSurface & Underground Structured & Underground Surface & Structured TBD Surface & Structured TBD Surface & Structured Structured & Underground Structured Surface & Structured Underground Structured Structured Surface Rental Rate TBD TBD Underground $5.75 NNN TBD TBD TBD TBD $5.75 TBD $5.25 NNN $6.50 NNN TBD Rental Rate TBD$3.50 NNN TBD TBD TBD TBD Underground $5.75 NNN TBD TBD TBD TBD $5.75 TBD $5.25 NNN Shell TBD TBD TBD Warm TBD TBD Warm TBD Warm TBD Warm Warm Warm Shell TBDWarm TBD TBD TBD TBD TBD Warm TBD TBD Warm TBD Warm TBD Warm T.I. Allowance TBD TBD TBD $50.00 TBD TBD TBD TBD TBD TBD $45.00 $50.00 TBD T.I. Allowance TBDTBD TBD TBD TBD TBD TBD $50.00 TBD TBD TBD TBD TBD TBD $45.00 Project Status Planning Stages Seeking Entitlements Seeking Entitlements Under Construction (BTS) Under Construction (BTS) Seeking Entitlements Seeking Entitlements Seeking Entitlements Entitled Entitled Under Construction (SPEC) Under Construction (BTS) Entitled Project Status SeekingSeeking EntitlementsEntitlements Entitled Seeking Entitlements Planning Stages Seeking Entitlements Seeking Entitlements Under Construction (BTS) Under Construction (BTS) Seeking Entitlements Seeking Entitlements Seeking Entitlements Entitled Entitled Under Construction (SPEC) Comments Propsal by LinkedIn to redevelop Microsoft to demolish three existing Google Inc. submitted an informal Phase I is complete and includes Intuit received city approval to City council authorized a gatekeeper Proposal to build one five-story Class Proposal to build one three-story Proposal to build one five-story Developer has approval to construct New Class A four-story building. Calvano has proposed a new zoning New four-story classComments A office ProposalPotential by for LinkedIn a new freestanding and SyWest for Will only develop 7 of the 42 acres. Four office buildings plus parking Propsal by LinkedIn to redevelop Microsoft to demolish three existing Google Inc. submitted an informal Phase I is complete and includes Intuit received city approval to City council authorized a gatekeeper Proposal to build one five-story Class Proposal to build one three-story Proposal to build one five-story Developer has approval to construct New Class A four-story building. their existing headquarter location. buildings and construct two new six- application to construct a four-level, apartment & retail space. Phase II is redevelop their existing location. The application to allow for an informal A, LEED Platinum ±217,000 square office building within the North office building and three to four a three-story ±70,846 square foot Property will be integrated into local for the Terra Bella precise plan that building in the heart of downtown a±14,043 mixed-use SF building. development Land thatuse would Construction was scheduled to begin garage and ±20,000 square-foot their existing headquarter location. buildings and construct two new six- application to construct a four-level, apartment & retail space. Phase II is redevelop their existing location. The application to allow for an informal A, LEED Platinum ±217,000 square office building within the North office building and three to four a three-story ±70,846 square foot Property will be integrated into local This would essentially double in size story office buildings and a new ±595,000 square foot office building, mixed use, hotel, movie theater and project will replace eight buildings review of a new six-story, ±224,508 foot building on an existing vacant Bayshore district. The developer is level parking garage. Build to suit office building, a four-story trail system, linking multiple would allow higher density. This site Mountain View. Will include multiple wouldallow forinclude an office, three R&D,mixed-use or retail late 2013, but was put on hold common building. Purchased by This would essentially double in size story office buildings and a new ±595,000 square foot office building, mixed use, hotel, movie theater and project will replace eight buildings review of a new six-story, ±224,508 foot building on an existing vacant Bayshore district. The developer is level parking garage. Build to suit office building, a four-story trail system, linking multiple their existing ±370,000-square-foot three-level parking garage. Microsoft including approximately ±72,000 two six-story office buildings totaling totaling ±118,130 square feet with square foot office building and lot. Project would include roof decks offering a community benefits only, developer will not spec. Rental ±109,927 square foot office building campuses to mass transit would require approval for amenities areas, roof deck and andindustrial office buildingbuildings, - availablethree office- on pending a design review by Google. Google in May 2014 for a reported their existing ±370,000-square-foot three-level parking garage. Microsoft including approximately ±72,000 two six-story office buildings totaling totaling ±118,130 square feet with square foot office building and lot. Project would include roof decks offering a community benefits only, developer will not spec. Rental ±109,927 square foot office building campuses to mass transit headquarters campus on Stierlin would also undergo extensive square feet of retail and amenity ±456,600 square feet. Phase II two buildings totaling ±364,000 parking structure on a vacant 5.15 and balconies, onsite trails, amenity package that would include rate is estimated in the high $5.00 and two four-story parking opportunities. Construction began combining eight lots into one parcel terraces. Expected delivery in 2018. onlybuild-to-suit buildings, basis. a family Modern health design club, a Now Google is expected to build the $250 Million. It is unclear what the headquarters campus on Stierlin would also undergo extensive square feet of retail and amenity ±456,600 square feet. Phase II two buildings totaling ±364,000 parking structure on a vacant 5.15 and balconies, onsite trails, amenity package that would include rate is estimated in the high $5.00 and two four-story parking opportunities. Construction began Court. The project is in the very early renovations on two additional space. Google reportedly locked in received council approval late 2014. square feet and two parking acre lot, located on the south side of space, and 2+ acres of open space expansion and enhancement of range. structures on a 29.3-acre site with early 2015, expected delivery date to allow up to ±400,000 square feet multi-screenwith flexible cinemafloorplan. and Outdoor a variety of project in three phases, with the intention is with the campus at this Court. The project is in the very early renovations on two additional space. Google reportedly locked in received council approval late 2014. square feet and two parking acre lot, located on the south side of space, and 2+ acres of open space expansion and enhancement of range. structures on a 29.3-acre site with early 2015, expected delivery date stages. LinkedIn and its developers existing buildings. The net new this allocation prior to when the new Entire project was preleased by structures. Estimated completion of Plymouth Street between North and an onsite 255-room boutique adjacent habitat areas and facilities seven existing office buildings. Q2 2016. of new office space. Phase I additionalwork environment amenities. that The supports office completion of the final phase in point; occupy as-is or move forward stages. LinkedIn and its developers existing buildings. The net new this allocation prior to when the new Entire project was preleased by structures. Estimated completion of Plymouth Street between North and an onsite 255-room boutique adjacent habitat areas and facilities seven existing office buildings. Q2 2016. have submitted a gatekeeper square footage is ±128,000 square North Bayshore Plan was finalized. LinkedIn May 2015. Completion is the first building is Summer 2016. Shoreline Boulevard and Alta Avenue hotel. for public recreational use. A new Google leased the existing campus preleased by Google December portioncollaborative would interaction total ±1,500,000 and 2022. with construction for the new have submitted a gatekeeper square footage is ±128,000 square North Bayshore Plan was finalized. LinkedIn May 2015. Completion is the first building is Summer 2016. Shoreline Boulevard and Alta Avenue hotel. for public recreational use. A new Google leased the existing campus application to the city, timing on the feet. expected Q3 2017. The second building will begin and safe bike trail will be built and has rights to the new 2015. squarerecreation. feet, with the retail campus. A request to remove application to the city, timing on the feet. expected Q3 2017. The second building will begin and safe bike trail will be built and has rights to the new approval process is unknown. construction once the existing connecting trailheads from San construction. Developer will not component totaling ±378,505 square parking lots and the addition of a approval process is unknown. construction once the existing connecting trailheads from San construction. Developer will not buildings are vacant, some have Antonio to Broderick as well. build without a signed lease COLLIERS INTERNATIONALfeet. NEW DEVELOPMENT PIPELINE landscaped courtyard are under buildings are vacant, some have Antonio to Broderick as well. build without a signed lease tenants in place until 2017. agreement. Entitlements are vested 22 SILICON VALLEY MTN. VIEW JULY 2016 review. tenants in place until 2017. agreement. Entitlements are vested through September 2021. through September 2021. Palo Alto Mountain View Mountain view Sunnyvale Santa Clara San Jose West Valley West

COLLIERS INTERNATIONAL NEW DEVELOPMENT PIPELINE SILICON VALLEY MTN. VIEW JULY 2016 23 Palo Alto Project Developer Total Project Size Project Status 1 1050 Page Mill Road Sand Hill Properties 287,980 Seeking Entitlements 2 University Plaza Sobrato/TMG 214,052 Under Construction (SPEC) 3 Park Plaza Harold Hobach 152,091 Under Construction (SPEC) 4 3251 Hanover Street Sand Hill Properties 115,500 Seeking Entitlements 5 VMware CSG Building Stanford University 100,000 Seeking Entitlements 6 3170 Porter Avenue Stanford University 98,000 Entitled 7 VMware HTG Building Stanford University 86,000 Seeking Entitlements 8 1450 Page Mill Road Stanford University 77,199 Under Construction (SPEC) 9 Mayfield Office Building Minkoff Group 63,746 Under Construction (SPEC) 10 College Terrace PCS Realty Advisors 52,504 Under Construction (BTS) 11 441 Page Mill Road Norm Schwab 35,521 Entitled 12 400 Cambridge Avenue Cambridge Investments LLC 35,000 Seeking Entitlements 13 2755 El Camino Real Jay Paul 33,323 Seeking Entitlements 14 2747 Park Boulevard Pollock Financial Group 33,000 Seeking Entitlements 15 3045 Park Boulevard Jay Paul 29,120 Seeking Entitlements 16 550 High Street Keenan Land Company 28,085 Shell Complete 17 2555 Park Avenue Tarlton Properties, Inc 24,466 Seeking Entitlements 18 636 Waverley Street D2 Realty Services 10,300 Under Construction (BTS) 19 MacArthur Park Arrillaga/Stanford TBD Planning Stages Total Potential Development 1,475,887

Mountain View Project Developer Total Project Size Project Status 1 Shoreline Commons LinkedIn & SyWest 1,500,000 Seeking Entitlements 2 Bay View Campus Google 1,100,000 Entitled 3 The 700 Centre Google 1,045,600 Seeking Entitlements 4 LinkedIn Main Campus HCP, Inc 800,000 Planning Stages 5 Microsoft Campus Mission West 643,000 Seeking Entitlements 6 Charleston East Google 595,000 Seeking Entitlements 7 The Village at San Antonio Merlone Geier Partners 456,600 Under Construction (BTS) 8 Intuit Campus Intuit 364,000 Under Construction (BTS) 9 1625 Plymouth Street Broadreach Capital Partners 224,508 Seeking Entitlements 10 750 Moffett Broadreach Capital Partners 217,000 Seeking Entitlements 11 Bayfront Park Project Rees Properties 190,876 Seeking Entitlements 12 580-620 Clyde Avenue Renault & Handley 190,000 Entitled 13 The Quad Keenan Lovewell Ventures 180,773 Entitled 14 600 National Avenue National Avenue Partners 150,988 Under Construction (SPEC) 15 1001 Shoreline Carlyle/Calvano Development 132,690 Under Construction (BTS) 16 599 Castro Street Sobrato Development 102,918 Entitled 17 1075 Terra Bella Calvano Development 14,043 Seeking Entitlements Sunnyvale Total Potential Development 7,907,996 Sunnyvale Project Developer Total Project Size Project Status 1 Moffett Place Jay Paul 1,944,132 Shell Complete/Entitled 2 Moffett Towers II Jay Paul 1,797,385 Entitled 3 Pastoria & Maude Avenue Irvine Company 1,432,043 Seeking Entitlements 4 Central Sunnyvale Campus Jay Paul 770,000 Under Construction (BTS) 5 684 West Maude Avenue Simeon Commercial 652,000 Seeking Entitlements 6 Moffett Gateway Jay Paul 593,484 Shell Complete 7 1050 Kifer Avenue Intuitive Surgical 560,731 Seeking Entitlements 8 Java Metro Center CB Global Investors 387,192 Shell Complete / Entitled 9 Mathilda Commons JP DiNapoli 341,104 Seeking Entitlements 10 Yahoo Campus Yahoo, Inc 316,000 Entitled 11 237 Moffett Park Drive Four Corners 260,000 Under Construction (SPEC) 12 Mathilda Research Center Common Wealth REIT 248,259 Entitled 13 520 Almanor Avenue Lane Partners 230,000 Entitled 14 445 North Mary Avenue Jay Paul 171,734 Seeking Entitlements 15 675 Almanor Avenue Dollinger Properties 168,520 Seeking Entitlements 16 221 Mathilda Avenue Spear Street Capital 128,224 Seeking Entitlements 17 265 Sobrante Way Sobrante Properties, LLC 120,740 Seeking Entitlements 18 1212 Bordeaux Drive CBRE Global Investors 100,091 Seeking Entitlements 19 505 Almanor Avenue Invesco 90,000 Entitled COLLIERS INTERNATIONAL NEW DEVELOPMENT PIPELINE 20 Sunnyvale Town Center JP Morgan 84,691 Entitled 24 SILICON VALLEY SUNNYVALE JULY 2016 21 623 North Pastoria Avenue George Yagmourian 56,106 Seeking Entitlements Total Potential Development 10,452,436

10 8

2 12 18 6 Mountain View MOFFETT BLVD 1 11

CENTRAL EXPWY 15 19 13 3 Sunnyvale Sunnyvale 14 21 5 9

GREAT AMERICA PKWY

EL CAMINO REAL MATHILDA AVE CENTRAL EXPWY 17 W EVELYN ROAD16

4 Santa Clara 20 7

EL CAMINO REAL San Jose West Valley West

COLLIERS INTERNATIONAL NEW DEVELOPMENT PIPELINE SILICON VALLEY SUNNYVALE JULY 2016 25 Sunnyvale

1 2 3 3 4

Project Name Moffett Place Moffett Towers II Central Sunnyvale Campus Project Name Moffett Place Moffett Towers II Central Sunnyvale Campus Moffett Gateway Java Metro Center Mathilda Commons Yahoo Campus Pastoria & Maude Avenue 684 West Maude Avenue 1050 Kifer Avenue AddressAddress 155 MoffettMoffett ParkPark Drive Drive 11111111 LockheedLockheed Martin Way Pastoria & Maude Avenue 260260 N. North Wolfe Wolfe Road Road Java Drive & Crossman Avenue 111 Java Drive 625-675 N. Mathilda Avenue 399 Java Drive Developer Jay Paul Jay Paul Irvine Company Jay Paul Simeon Commercial Jay Paul Intuitive Surgical CB Global Investors JP DiNapoli Yahoo, Inc Total Project Size 1,944,132 1,797,385 1,432,043 770,000 652,000 593,484 560,731 387,192 341,104 316,000 Number of Bldgs 6 5 13 3 4 2 2 2 2 1 Divisible to 315,272 100,000 TBD 60,000 TBD 281,432 N/A 118,596 161,800 N/A Acreage 55.39 47.4 29.5 18 14.38 15.5 9.78 12.55 7.9 6.9 FAR (Coverage) 81% 80% 93% 100% 100% 88% 60% 70% 100% 104% # of Floors 8 8 4 4 4 7 TBD 4 & 5 4 7 Size of Floors 39,409 42,000 28,000 60,000 - 180,000 39,000 40,000 TBD 29,649 40,000 45,000 Parking Ratio 3.3 3.3 2.1 3.4 3.0 3.3 TBD 3.5 3.33 2.2 Parking Surface & Structured Structured Surface & Structured Surface & Structured Surface & Structured Surface & Structured Structured Surface & Structured Structured Surface & Structured Rental Rate $3.50 NNN $4.25 NNN TBD $4.25 NNN TBD $3.95 NNN TBD $3.10 NNN $4.35 NNN TBD Shell Warm Warm TBD Warm TBD Warm TBD Warm Warm TBD T.I. Allowance $45.00 $50.00 TBD $40.00 TBD $45.00 TBD $25.00 $45.00 TBD Project Status Shell Complete/Entitled Entitled Seeking Entitlements Under Construction (BTS) Seeking Entitlements Shell Complete Seeking Entitlements Shell Complete / Entitled Seeking Entitlements Entitled Comments Preleased by Google. Terms indicate Proposal for the expansion of Proposal to redevelop up to ±29.5 Redevelopment of nine R&D Proposal for four four-story buildings Two seven-story ±281,432 square Proposal to construct two new One ±150,000 square-foot building Proposal to redevelop 8 parcels and Entitlement and plan approval for a a five year phase in. Construction Moffett Towers, an existing seven acres in the Peery Park submarket. properties along Wolfe, Santa Ana & totaling ±652,000 square feet on foot buildings. Campus would office/R&D buildings and two has been shell complete for five build two new four-story office/R&D Class A office development broke ground early 2014 on Phase I, building office project. Moffett Demolition of 28 existing Arques. Project would include three West Maude Avenue near Potrero include a ±12,600 square foot parking structures on the Intuitive years with no tenant. Entitled for an buildings for a total of ±327,135 consisting of ±316,000 square feet and reached completion late 2015. Towers II would include five eight- office/industrial buildings totaling four-story buildings over two floors, Avenue. Most of the land is part of a amenities building. Estimated Surgical campus, resulting in additional two buildings. 140 square feet and one ±13,969 square on seven levels and a ±24,000 square Phase I includes three buildings story office buildings, four parking ±768,665 square feet and podium parking and a ±30,000 portfolio that San Francisco-based completion date is Q2 2016. ±560,731 square feet total and Caspian for ±118,596 square feet and foot amenities building. The project foot amenities building. The 6.9-acre totaling ±945,816 square feet and structures and one amenities construction of 11 three-story and square foot amenities building. Simeon has been assembling with 59.2% floor area ratio. The project is 169 Java for ±118,596 square feet would be serviced by a new fivesite includes 701 parking stalls one ±52,000 square-foot fitness building. Estimated delivery of phase two four-story buildings totaling Preleased by Apple August 2015. capital partner Kinship Capital. within the future Lawrence Station still to be built. Purchased by CB level parking garage. Estimated provided in both a freestanding facility. Phase II will include an I is late 2017. LOI out to Google. ±1,432,043 square feet; two one- Area Plan. Global Investors June 2014. delivery is Q3 2017. parking deck and surface parking. additional three buildings totaling story and one two-story amenities ±945,816 square feet. Final buildings totaling ±24,000 square completion is expected in 2019. feet; and two six-level and one four- level above-grade parking structures Sunnyvale Palo Alto

5 6 7 8 Mountain View

Project Name Moffett Gateway Java Metro Center Project Name Moffett Place Moffett Towers II Central Sunnyvale CampusProject Name Moffett Place MoffettMoffett GatewayTowers II JavaCentral Metro Sunnyvale Center Campus Mathilda Commons YahooMoffett Campus Gateway Java Metro Center Mathilda Commons Yahoo Campus Pastoria & Maude Avenue 684 West Maude Avenue 1050Pastoria Kifer & Avenue Maude Avenue 684 West Maude Avenue 1050 Kifer Avenue Address 155 Moffett Park Drive 1111 Lockheed Martin Way 260 N. Wolfe RoadAddress 155684 Moffett West Maude Park Drive Java1111Java Drive LockheedDrive & &Crossman Crossman Martin WayAvenue Avenue 1050 Kifer Avenue 260111111 JavaN.Java Wolfe DriveDrive Road 625-675 N. Mathilda Avenue 399Java Java Drive Drive & Crossman Avenue 111 Java Drive 625-675 N. Mathilda Avenue 399 Java Drive Sunnyvale Sunnyvale Developer Jay Paul Jay Paul Irvine Company Jay Paul Developer SimeonJay Paul Commercial JayJay PaulPaul IntuitiveIrvine Company Surgical CBJay Global Paul Investors JPSimeon DiNapoli Commercial Yahoo,Jay Paul Inc Intuitive Surgical CB Global Investors JP DiNapoli Yahoo, Inc Total Project Size 1,944,132 1,797,385 1,432,043 770,000 Total Project Size 652,0001,944,132 593,4841,797,385 560,7311,432,043 387,192770,000 341,104652,000 316,000593,484 560,731 387,192 341,104 316,000 Number of Bldgs 6 5 13 3 Number of Bldgs 46 25 213 23 24 12 2 2 2 1 Divisible to 315,272 100,000 TBD 60,000 Divisible to TBD315,272 281,432100,000 N/ATBD 118,59660,000 161,800TBD N/A281,432 N/A 118,596 161,800 N/A Acreage 55.39 47.4 29.5 18 Acreage 14.3855.39 15.547.4 9.7829.5 12.5518 7.914.38 6.915.5 9.78 12.55 7.9 6.9 FAR (Coverage) 81% 80% 93% 100% FAR (Coverage) 100%81% 88%80% 60%93% 70%100% 100%100% 104%88% 60% 70% 100% 104%

# of Floors 8 8 4 4 # of Floors 48 78 TBD4 44 & 5 44 Santa Clara 77 TBD 4 & 5 4 7 Size of Floors 39,409 42,000 28,000 60,000 - 180,000 Size of Floors 39,00039,409 40,00042,000 TBD28,000 29,64960,000 - 180,000 40,00039,000 45,00040,000 TBD 29,649 40,000 45,000 Parking Ratio 3.3 3.3 2.1 3.4 Parking Ratio 3.03.3 3.33.3 TBD2.1 3.53.4 3.333.0 2.23.3 TBD 3.5 3.33 2.2 Parking Surface & Structured Structured Surface & Structured Surface & StructuredParking SurfaceSurface && StructuredStructured SurfaceStructured & Structured StructuredSurface & Structured SurfaceSurface && StructuredStructured StructuredSurface & Structured SurfaceSurface & & Structured Structured Structured Surface & Structured Structured Surface & Structured Rental Rate $3.50 NNN $4.25 NNN TBD $4.25 NNN Rental Rate TBD$3.50 NNN $3.95$4.25 NNNNNN TBDTBD $3.10$4.25 NNNNNN $4.35TBD NNN TBD$3.95 NNN TBD $3.10 NNN $4.35 NNN TBD Shell Warm Warm TBD Warm Shell TBDWarm WarmWarm TBDTBD WarmWarm WarmTBD TBDWarm TBD Warm Warm TBD

T.I. Allowance $45.00 $50.00 TBD $40.00 T.I. Allowance TBD$45.00 $45.00$50.00 TBDTBD $25.00$40.00 $45.00TBD San Jose TBD$45.00 TBD $25.00 $45.00 TBD Project Status Shell Complete/Entitled Entitled Seeking Entitlements Under ConstructionProject (BTS) Status SeekingShell Complete/Entitled Entitlements ShellEntitled Complete SeekingSeeking EntitlementsEntitlements ShellUnder Complete Construction / Entitled (BTS) SeekingSeeking Entitlements Entitlements EntitledShell Complete Seeking Entitlements Shell Complete / Entitled Seeking Entitlements Entitled Comments Preleased by Google. Terms indicate Proposal for the expansion of Proposal to redevelop up to ±29.5 Redevelopment of nineComments R&D ProposalPreleased for by four Google. four-story Terms buildings indicate TwoProposal seven-story for the ±281,432expansion square of ProposalProposal toto constructredevelop two up newto ±29.5 OneRedevelopment ±150,000 square-foot of nine R&D building ProposalProposal to for redevelop four four-story 8 parcels buildings and EntitlementTwo seven-story and plan ±281,432 approval square for a Proposal to construct two new One ±150,000 square-foot building Proposal to redevelop 8 parcels and Entitlement and plan approval for a a five year phase in. Construction Moffett Towers, an existing seven acres in the Peery Park submarket. properties along Wolfe, Santa Ana & totalinga five year ±652,000 phase in.square Construction feet on footMoffett buildings. Towers, Campus an existing would seven office/R&Dacres in the buildings Peery Park and submarket. two hasproperties been shell along complete Wolfe, forSanta five Ana & buildtotaling two ±652,000 new four-story square office/R&D feet on Classfoot buildings.A office development Campus would office/R&D buildings and two has been shell complete for five build two new four-story office/R&D Class A office development broke ground early 2014 on Phase I, building office project. Moffett Demolition of 28 existing Arques. Project would include three Westbroke Maude ground Avenue early 2014 near on Potrero Phase I, includebuilding a office±12,600 project. square Moffett foot parkingDemolition structures of 28 existing on the Intuitive yearsArques. with Project no tenant. would Entitled include for three an buildingsWest Maude for a Avenue total of near±327,135 Potrero consistinginclude a ±12,600of ±316,000 square square foot feet parking structures on the Intuitive years with no tenant. Entitled for an buildings for a total of ±327,135 consisting of ±316,000 square feet and reached completion late 2015. Towers II would include five eight- office/industrial buildings totaling four-story buildings over two floors, Avenue.and reached Most completion of the land lateis part 2015. of a amenitiesTowers II wouldbuilding. include Estimated five eight- Surgicaloffice/industrial campus, buildingsresulting intotaling additionalfour-story twobuildings buildings. over 140two floors, squareAvenue. feet Most and of one the ±13,969 land is partsquare of a onamenities seven levels building. and aEstimated ±24,000 square Surgical campus, resulting in additional two buildings. 140 square feet and one ±13,969 square on seven levels and a ±24,000 square Phase I includes three buildings story office buildings, four parking ±768,665 square feet and podium parking and a ±30,000 portfolioPhase I includes that San three Francisco-based buildings completionstory office datebuildings, is Q2 four2016. parking ±560,731±768,665 squaresquare feetfeet totaland and Caspianpodium forparking ±118,596 and asquare ±30,000 feet and footportfolio amenities that Sanbuilding. Francisco-based The project footcompletion amenities date building. is Q2 2016. The 6.9-acre ±560,731 square feet total and Caspian for ±118,596 square feet and foot amenities building. The project foot amenities building. The 6.9-acre totaling ±945,816 square feet and structures and one amenities construction of 11 three-story and square foot amenities building. Simeontotaling has ±945,816 been assembling square feet with and structures and one amenities 59.2%construction floor area of 11 ratio. three-story The project and is 169square Java foot for ±118,596amenities square building. feet wouldSimeon Valley West be has serviced been assemblingby a new five- with site includes 701 parking stalls 59.2% floor area ratio. The project is 169 Java for ±118,596 square feet would be serviced by a new fivesite includes 701 parking stalls one ±52,000 square-foot fitness building. Estimated delivery of phase two four-story buildings totaling Preleased by Apple August 2015. capitalone ±52,000 partner square-foot Kinship Capital. fitness building. Estimated delivery of phase withintwo four-story the future buildings Lawrence totaling Station stillPreleased to be built. by Apple Purchased August by 2015. CB levelcapital parking partner garage. Kinship Estimated Capital. provided in both a freestanding within the future Lawrence Station still to be built. Purchased by CB level parking garage. Estimated provided in both a freestanding facility. Phase II will include an I is late 2017. LOI out to Google. ±1,432,043 square feet; two one- facility. Phase II will include an I is late 2017. LOI out to Google. Area±1,432,043 Plan. square feet; two one- Global Investors June 2014. delivery is Q3 2017. parking deck and surface parking. Area Plan. Global Investors June 2014. delivery is Q3 2017. parking deck and surface parking. additional three buildings totaling story and one two-story amenities additional three buildings totaling story and one two-story amenities ±945,816 square feet. Final buildings totaling ±24,000 square ±945,816 square feet. Final buildings totalingCOLLIERS ±24,000 INTERNATIONAL square NEW DEVELOPMENT PIPELINE completion is expected in 2019. feet; and two six-level and one four- completion is expected in 2019. feet; and twoSILICON six-level VALLEY and one four-SUNNYVALE JULY 2016 27 level above-grade parking structures level above-grade parking structures Project Name Moffett Place Moffett Towers II Central Sunnyvale Campus Moffett Gateway Java Metro Center Mathilda Commons Yahoo Campus Pastoria & Maude Avenue 684 West Maude Avenue 1050 Kifer Avenue Address 155 Moffett Park Drive 1111 Lockheed Martin Way 260 N. Wolfe Road Java Drive & Crossman Avenue 111 Java Drive 625-675 N. Mathilda Avenue 399 Java Drive Developer Jay Paul Jay Paul Irvine Company Jay Paul Simeon Commercial Jay Paul Intuitive Surgical CB Global Investors JP DiNapoli Yahoo, Inc Total Project Size 1,944,132 1,797,385 1,432,043 770,000 652,000 593,484 560,731 387,192 341,104 316,000 Number of Bldgs 6 5 13 3 4 2 2 2 2 1 Divisible to 315,272 100,000 TBD 60,000 TBD 281,432 N/A 118,596 161,800 N/A Acreage 55.39 47.4 29.5 18 14.38 15.5 9.78 12.55 7.9 6.9 FAR (Coverage) 81% 80% 93% 100% 100% 88% 60% 70% 100% 104% # of Floors 8 8 4 4 4 7 TBD 4 & 5 4 7 Size of Floors 39,409 42,000 28,000 60,000 - 180,000 39,000 40,000 TBD 29,649 40,000 45,000 Parking Ratio 3.3 3.3 2.1 3.4 3.0 3.3 TBD 3.5 3.33 2.2 Parking Surface & Structured Structured Surface & Structured Surface & Structured Surface & Structured Surface & Structured Structured Surface & Structured Structured Surface & Structured Rental Rate $3.50 NNN $4.25 NNN TBD $4.25 NNN TBD $3.95 NNN TBD $3.10 NNN $4.35 NNN TBD Shell Warm Warm TBD Warm TBD Warm TBD Warm Warm TBD T.I. Allowance $45.00 $50.00 TBD $40.00 TBD $45.00 TBD $25.00 $45.00 TBD Project Status Shell Complete/Entitled Entitled Seeking Entitlements Under Construction (BTS) Seeking Entitlements Shell Complete Seeking Entitlements Shell Complete / Entitled Seeking Entitlements Entitled Comments Preleased by Google. Terms indicate Proposal for the expansion of Proposal to redevelop up to ±29.5 Redevelopment of nine R&D Proposal for four four-story buildings Two seven-story ±281,432 square Proposal to construct two new One ±150,000 square-foot building Proposal to redevelop 8 parcels and Entitlement and plan approval for a a five year phase in. Construction Moffett Towers, an existing seven acres in the Peery Park submarket. properties along Wolfe, Santa Ana & totaling ±652,000 square feet on foot buildings. Campus would office/R&D buildings and two has been shell complete for five build two new four-story office/R&D Class A office development broke ground early 2014 on Phase I, building office project. Moffett Demolition of 28 existing Arques. Project would include three West Maude Avenue near Potrero include a ±12,600 square foot parking structures on the Intuitive years with no tenant. Entitled for an buildings for a total of ±327,135 consisting of ±316,000 square feet and reached completion late 2015. Towers II would include five eight- office/industrial buildings totaling four-story buildings over two floors, Avenue. Most of the land is part of a amenities building. Estimated Surgical campus, resulting in additional two buildings. 140 square feet and one ±13,969 square on seven levels and a ±24,000 square Phase I includes three buildings story office buildings, four parking ±768,665 square feet and podium parking and a ±30,000 portfolio that San Francisco-based completion date is Q2 2016. ±560,731 square feet total and Caspian for ±118,596 square feet and foot amenities building. The project foot amenities building. The 6.9-acre totaling ±945,816 square feet and structures and one amenities construction of 11 three-story and square foot amenities building. Simeon has been assembling with 59.2% floor area ratio. The project is 169 Java for ±118,596 square feet would be serviced by a new fivesite includes 701 parking stalls one ±52,000 square-foot fitness building. Estimated delivery of phase two four-story buildings totaling Preleased by Apple August 2015. capital partner Kinship Capital. within the future Lawrence Station still to be built. Purchased by CB level parking garage. Estimated provided in both a freestanding facility. Phase II will include an I is late 2017. LOI out to Google. ±1,432,043 square feet; two one- Area Plan. Global Investors June 2014. delivery is Q3 2017. parking deck and surface parking. additional three buildings totaling story and one two-story amenities ±945,816 square feet. Final buildings totaling ±24,000 square completion is expected in 2019. feet; and two six-level and one four- Sunnyvale level above-grade parking structures

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Project Name Mathilda Commons Yahoo Campus Mathilda Research Center Project Name Moffett Place Moffett Towers II Central Sunnyvale Campus Moffett Gateway Java Metro CenterProject Name MathildaMoffett Place Commons YahooMoffett Campus Towers IIProject Name MathildaCentral Sunnyvale Research CenterCampus Moffett Gateway Java Metro Center Mathilda Commons Yahoo Campus Sunnyvale Town Center Pastoria & Maude Avenue 684 West Maude Avenue 1050 Kifer Avenue Address 625-675 Mathilda Avenue 215215Pastoria Moffett Moffett & MaudeParkPark DriveDrive Avenue 1184 North Mathilda Avenue 520684 Almanor West Maude Avenue Avenue 445 North Mary Avenue 6751050 Almanor Kifer Avenue Avenue 221 Mathilda Avenue 265 Sobrante Way 1212 Bordeaux Drive 505 Almanor Avenue Address 155 Moffett Park Drive 1111 Lockheed Martin Way 260 N. Wolfe Road Java Drive & Crossman Avenue 111 Java Drive Address 625-675155 Moffett N. Mathilda Park Drive Avenue 3991111 JavaJava Lockheed Drive Drive MartinAddress Way 1184260 N. WolfeMathilda Road Avenue Java Drive & Crossman Avenue 111 Java Drive 625-675 N. Mathilda Avenue 399 Java Drive 300 Mathilda Ave Developer Jay Paul Jay Paul Irvine Company Jay Paul Simeon Commercial Jay Paul Intuitive Surgical CB Global InvestorsDeveloper JPJay DiNapoli Paul Yahoo,Jay Paul Inc Developer FourIrvine Corners Company CommonJay Paul Wealth REIT LaneSimeon Partners Commercial JayJay Paul Paul DollingerIntuitive Properties Surgical SpearCB Global Street Investors Capital SobranteJP DiNapoli Properties, LLC CBREYahoo, Global Inc Investors Invesco JP Morgan Total Project Size 1,944,132 1,797,385 1,432,043 770,000 652,000 593,484 560,731 387,192 Total Project Size 341,1041,944,132 316,0001,797,385 Total Project Size 260,0001,432,043 248,259770,000 230,000652,000 171,734593,484 168,520560,731 128,224387,192 120,740341,104 100,091316,000 90,000 84,691 Number of Bldgs 6 5 13 3 4 2 2 2 Number of Bldgs 26 15 Number of Bldgs 113 13 14 12 12 12 1 2 1 1 1 1 Divisible to 315,272 100,000 TBD 60,000 TBD 281,432 N/A 118,596 Divisible to 161,800315,272 N/A100,000 Divisible to 260,000TBD TBD60,000 57,000TBD TBD281,432 TBDN/A TBD118,596 TBD161,800 TBDN/A 90,000 TBD Acreage 55.39 47.4 29.5 18 14.38 15.5 9.78 12.55 Acreage 7.955.39 6.947.4 Acreage 9.5429.5 18.8318 4.414.38 8.4215.5 3.839.78 4.312.55 3.57.9 4.596.9 1.03 4.96 FAR (Coverage) 81% 80% 93% 100% 100% 88% 60% 70% FAR (Coverage) 100%81% 104%80% FAR (Coverage) 62%93% 83%100% 120%100% 100%88% 101%60% 65%70% 80%100% 50%104% 100% TBD # of Floors 8 8 4 4 4 7 TBD 4 & 5 # of Floors 48 78 # of Floors 24 54 44 67 5TBD 44 & 5 4 4 2 7 3 3 Size of Floors 39,409 42,000 28,000 60,000 - 180,000 39,000 40,000 TBD 29,649 Size of Floors 40,00039,409 45,00042,000 Size of Floors 130,00028,000 49,00060,000 - 180,000 57,50039,000 28,60040,000 33,700TBD 32,00029,649 30,18540,000 50,00045,000 30,000 28,000 Parking Ratio 3.3 3.3 2.1 3.4 3.0 3.3 TBD 3.5 Parking Ratio 3.333.3 2.23.3 Parking Ratio 3.42.1 TBD3.4 3.13.0 TBD3.3 TBDTBD TBD3.5 TBD3.33 TBD2.2 3.5 3.5 Parking Surface & Structured Structured Surface & Structured Surface & Structured Surface & Structured Surface & Structured Structured Surface & StructuredParking StructuredSurface & Structured SurfaceStructured & StructuredParking SurfaceSurface & Structured SurfaceSurface & & Structured Structured SurfaceSurface & & Structured Structured TBDSurface & Structured StructuredStructured StructuredSurface & Structured StucturedStructured TBDSurface & Structured Surface & Structured Structured Rental Rate $3.50 NNN $4.25 NNN TBD $4.25 NNN TBD $3.95 NNN TBD $3.10 NNN Rental Rate $4.35$3.50 NNNNNN TBD$4.25 NNN Rental Rate $3.95TBD NNN TBD$4.25 NNN $4.75TBD NNN TBD$3.95 NNN TBDTBD TBD$3.10 NNN TBD$4.35 NNN TBDTBD $3.50 NNN TBD Shell Warm Warm TBD Warm TBD Warm TBD Warm Shell WarmWarm TBDWarm Shell WarmTBD TBDWarm WarmTBD TBDWarm TBDTBD TBDWarm TBDWarm TBDTBD TBD TBD T.I. Allowance $45.00 $50.00 TBD $40.00 TBD $45.00 TBD $25.00 T.I. Allowance $45.00$45.00 TBD$50.00 T.I. Allowance TBDTBD TBD$40.00 TBDTBD TBD$45.00 TBDTBD TBD$25.00 TBD$45.00 TBDTBD TBD TBD Project Status Shell Complete/Entitled Entitled Seeking Entitlements Under Construction (BTS) Seeking Entitlements Shell Complete Seeking Entitlements Shell Complete / EntitledProject Status SeekingShell Complete/Entitled Entitlements EntitledEntitled Project Status UnderSeeking Construction Entitlements (SPEC) EntitledUnder Construction (BTS) EntitledSeeking Entitlements SeekingShell Complete Entitlements SeekingSeeking Entitlements Entitlements SeekingShell Complete Entitlements / Entitled SeekingSeeking Entitlements Entitlements SeekingEntitled Entitlements Entitled Entitled Comments Preleased by Google. Terms indicate Proposal for the expansion of Proposal to redevelop up to ±29.5 Redevelopment of nine R&D Proposal for four four-story buildings Two seven-story ±281,432 square Proposal to construct two new One ±150,000 square-footComments building ProposalPreleased to by redevelop Google. Terms8 parcels indicate and EntitlementProposal for and the plan expansionComments approval of for a OneProposal two-story to redevelop building withup to ±29.5 OneRedevelopment ±248,259 square of nine foot, R&D five-story OneProposal new four-story for four four-story building totaling buildings ProposalTwo seven-story to add a new±281,432 six-story, square DevelopmentProposal to construct proposal twoto allow new for a ProposedOne ±150,000 four-story square-foot office building building AllowProposal a four-story to redevelop office/R&D 8 parcels and MinorEntitlement Moffett and Park plan Design approval Review for a Second building to join an existing ± JP Morgan purchased the property a five year phase in. Construction Moffett Towers, an existing seven acres in the Peery Park submarket. properties along Wolfe, Santa Ana & totaling ±652,000 square feet on foot buildings. Campus would office/R&D buildings and two has been shell complete for five builda five two year new phase four-story in. Construction office/R&D ClassMoffett A office Towers, development an existing seven ±130,000acres in thesquare Peery foot Park floor submarket. plates. office/R&Dproperties building along Wolfe, over aSanta three- Ana & ±230,000totaling ±652,000square feet. square Targeting feet on ±171,734foot buildings. square Campus foot office would building ±168,520office/R&D square buildings foot office and two building withinhas been the Peeryshell complete Park District. for fiveSite is buildingbuild two with new a detached four-story parking office/R&D permitClass Ato office demolish development an existing 166,000 square foot office building. for $270M in December 2015. Buyer broke ground early 2014 on Phase I, building office project. Moffett Demolition of 28 existing Arques. Project would include three West Maude Avenue near Potrero include a ±12,600 square foot parking structures on the Intuitive years with no tenant. Entitled for an buildingsbroke ground for a earlytotal of2014 ±327,135 on Phase I, consistingbuilding office of ±316,000 project. square Moffett feet ProjectDemolition will include of 28 existing a ±5,000 square levelArques. parking Project structure would attached include threeto LEEDWest Gold. Maude Will Avenue include near a secure Potrero andinclude a four a level±12,600 above-ground square foot withparking a four-story structures parking on the structure. Intuitive currentyears withoccupied no tenant. by a single-family Entitled for an structure,buildings resulting for a total in of±120,740 ±327,135 ±79,091consisting square of ±316,000 foot one-story square feet Would require that a parking aquired the existing project, the and reached completion late 2015. Towers II would include five eight- office/industrial buildings totaling four-story buildings over two floors, Avenue. Most of the land is part of a amenities building. Estimated Surgical campus, resulting in additional two buildings. 140 squareand reached feet and completion one ±13,969 late square 2015. onTowers seven II levels would and include a ±24,000 five eight- square footoffice/industrial amenities building. buildings Contiguous totaling thefour-story building, buildings including over one-level two floors, of openAvenue. air amenity Most of space the land and is onsite part of a parkingamenities structure building. with Estimated two Surgical campus, resulting in dwellingadditional and two Mellow's buildings. Nursery. 140 This squaresquare feet feet and and 79% one floor ±13,969 area squareratio. industrialon seven building levels and and a construct ±24,000 square a structure is built prior to the unfinished residential and retail Phase I includes three buildings story office buildings, four parking ±768,665 square feet and podium parking and a ±30,000 portfolio that San Francisco-based completion date is Q2 2016. ±560,731 square feet total and Caspian for ±118,596 square feet and footPhase amenities I includes building. three buildings The project footstory amenities office buildings, building. four The parking 6.9-acre with±768,665 a neighboring square feet building and for up to undergroundpodium parking basement and a ±30,000 parking. café.portfolio Estimated that San delivery Francisco-based date is Q3 undergroundcompletion datelevels is atQ2 an 2016. existing ±560,731 square feet total and is Caspianthe only for site ±118,596 within the square Peery feet Park and Project foot amenities is within thebuilding. Peery The Park project newfoot ±100,091 amenities square building. foot Thetwo-story 6.9-acre construction of the second building. component, as well as land approved totaling ±945,816 square feet and structures and one amenities construction of 11 three-story and square foot amenities building. Simeon has been assembling with 59.2% floor area ratio. The project is 169 Java for ±118,596 square feet wouldtotaling be ±945,816 serviced squareby a new feet five- and sitestructures includes and 701 one parking amenities stalls ±320,000construction square of 11feet. three-story Estimated and Projectsquare includes foot amenities reconfiguration building. of 2017.Simeon has been assembling with multi-building office site. The 59.2% floor area ratio. The project is District169 Java that for is ±118,596still residentially square usedfeet District.would be serviced by a new five- officesite includesbuilding 701with parking a partial stalls for ±435,000 square feet of hotel, one ±52,000 square-foot fitness building. Estimated delivery of phase two four-story buildings totaling Preleased by Apple August 2015. capital partner Kinship Capital. within the future Lawrence Station still to be built. Purchased by CB levelone ±52,000parking garage.square-foot Estimated fitness providedbuilding. inEstimated both a freestanding delivery of phase deliverytwo four-story in Q4 2016. buildings totaling existingPreleased surface by Apple parking August lot. The 2015. capital partner Kinship Capital. existing buildings total ±210,000 within the future Lawrence Station andstill is to listed be built. as a HeritagePurchased Landmark by CB level parking garage. Estimated mezzanineprovided forin both a total a freestanding FAR of 50%. office, retail and residential. facility. Phase II will include an I is late 2017. LOI out to Google. ±1,432,043 square feet; two one- Area Plan. Global Investors June 2014. deliveryfacility. Phaseis Q3 2017. II will include an parkingI is late deck2017. and LOI surface out to Google.parking. ±1,432,043 square feet; two one- existing three buildings totaling square feet and are leased to Area Plan. inGlobal Sunnyvale. Investors June 2014. delivery is Q3 2017. parking deck and surface parking. additional three buildings totaling story and one two-story amenities additional three buildings totaling story and one two-story amenities ±425,000 square feet in the project Synopsys. Project is located within ±945,816 square feet. Final buildings totaling ±24,000 square COLLIERS INTERNATIONAL±945,816 square NEW feet.DEVELOPMENT Final PIPELINE buildings totaling ±24,000 square are leased to Google. the Peery Park District. completion is expected in 2019. feet; and two six-level and one four- 28 SILICON VALLEYcompletion isSUNNYVALE expected in 2019.JULY 2016 feet; and two six-level and one four- level above-grade parking structures level above-grade parking structures Palo Alto

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Project Name Project Name Mathilda Research ProjectCenter Name Moffett Place Moffett Towers II Central Sunnyvale Campus Moffett Gateway SunnyvaleJava Metro Town Center Center Mathilda Commons Yahoo Campus 215 Moffett Park Drive Address 520520 AlmanorAlmanor AvenueAvenue 445 NorthNorth MaryMary AvenueAvenue 675675Pastoria Almanor Almanor & Maude Avenue Avenue Avenue 221 Mathilda AvenueAvenue 265684 Sobrante West Maude Way Avenue 1212 Bordeaux Drive 5051050 Almanor Kifer Avenue Avenue Sunnyvale Address 1184 N. Mathilda AvenueAddress 155 Moffett Park Drive 1111 Lockheed Martin Way 260 N. Wolfe Road Sunnyvale Java Drive & Crossman Avenue 300 111 Mathilda Java Drive Ave 625-675 N. Mathilda Avenue 399 Java Drive Developer Four Corners Common Wealth REITDeveloper LaneJay Paul Partners JayJay PaulPaul DollingerIrvine Company Properties SpearJay Paul Street Capital SobranteSimeon Commercial Properties, LLC CBREJay Paul Global Investors InvescoIntuitive Surgical JPCB Morgan Global Investors JP DiNapoli Yahoo, Inc Total Project Size 260,000 248,259 Total Project Size 230,0001,944,132 171,7341,797,385 168,5201,432,043 128,224770,000 120,740652,000 100,091593,484 90,000560,731 84,691387,192 341,104 316,000 Number of Bldgs 1 1 Number of Bldgs 16 15 113 13 14 12 12 12 2 1 Divisible to 260,000 TBD Divisible to 57,000315,272 TBD100,000 TBDTBD TBD60,000 TBDTBD TBD281,432 90,000N/A TBD118,596 161,800 N/A Acreage 9.54 18.83 Acreage 4.455.39 8.4247.4 3.8329.5 4.318 3.514.38 4.5915.5 1.039.78 4.9612.55 7.9 6.9 FAR (Coverage) 62% 83% FAR (Coverage) 120%81% 100%80% 101%93% 65%100% 80%100% 50%88% 100%60% TBD70% 100% 104% # of Floors 2 5 # of Floors 48 68 54 44 44 Santa Clara 27 3TBD 34 & 5 4 7 Size of Floors 130,000 49,000 Size of Floors 57,50039,409 28,60042,000 33,70028,000 32,00060,000 - 180,000 30,18539,000 50,00040,000 30,000TBD 28,00029,649 40,000 45,000 Parking Ratio 3.4 TBD Parking Ratio 3.13.3 TBD3.3 TBD2.1 TBD3.4 TBD3.0 TBD3.3 3.5TBD 3.53.5 3.33 2.2 Parking Surface Surface & StructuredParking SurfaceSurface && StructuredStructured TBDStructured StructuredSurface & Structured StructuredSurface & Structured StucturedSurface & Structured TBDSurface & Structured SurfaceStructured & Structured StructuredSurface & Structured Structured Surface & Structured Rental Rate $3.95 NNN TBD Rental Rate $4.75$3.50 NNNNNN TBD$4.25 NNN TBDTBD TBD$4.25 NNN TBDTBD TBD$3.95 NNN $3.50TBD NNN TBD$3.10 NNN $4.35 NNN TBD Shell Warm TBD Shell WarmWarm TBDWarm TBDTBD TBDWarm TBDTBD TBDWarm TBDTBD TBDWarm Warm TBD T.I. Allowance TBD TBD T.I. Allowance TBD$45.00 TBD$50.00 TBDTBD TBD$40.00 TBDTBDSan Jose TBD$45.00 TBDTBD TBD$25.00 $45.00 TBD Project Status Under Construction (SPEC) Entitled Project Status EntitledShell Complete/Entitled SeekingEntitled Entitlements SeekingSeeking EntitlementsEntitlements SeekingUnder Construction Entitlements (BTS) SeekingSeeking Entitlements Entitlements SeekingShell Complete Entitlements EntitledSeeking Entitlements EntitledShell Complete / Entitled Seeking Entitlements Entitled Comments One two-story building with One ±248,259 squareComments foot, five-story OnePreleased new four-story by Google. building Terms totalingindicate ProposalProposal tofor add the a expansion new six-story, of DevelopmentProposal to redevelop proposal upto allowto ±29.5 for a ProposedRedevelopment four-story of nine office R&D building AllowProposal a four-story for four four-storyoffice/R&D buildings MinorTwo seven-story Moffett Park ±281,432 Design Reviewsquare SecondProposal building to construct to join two an existing new ± JPOne Morgan ±150,000 purchased square-foot the property building Proposal to redevelop 8 parcels and Entitlement and plan approval for a ±130,000 square foot floor plates. office/R&D building over a three- ±230,000a five year square phase feet. in. Construction Targeting ±171,734Moffett Towers, square footan existing office buildingseven ±168,520acres in the square Peery foot Park office submarket. building withinproperties the Peery along Park Wolfe, District. Santa Site Ana is & buildingtotaling with±652,000 a detached square parking feet on permitfoot buildings. to demolish Campus an existing would 166,000office/R&D square buildings foot office and twobuilding. forhas $270M been shellin December complete 2015. for five Buyer build two new four-story office/R&D Class A office development Project will include a ±5,000 square level parking structure attached to LEEDbroke Gold. ground Will early include 2014 a onsecure Phase I, andbuilding a four office level project. above-ground Moffett withDemolition a four-story of 28 parking existing structure. currentArques. occupied Project would by a single-family include three structure,West Maude resulting Avenue in ±120,740near Potrero ±79,091include squarea ±12,600 foot square one-story foot Wouldparking require structures that ona parking the Intuitive aquiredyears with the noexisting tenant. project, Entitled the for an buildings for a total of ±327,135 consisting of ±316,000 square feet foot amenities building. Contiguous the building, including one-level of openand reached air amenity completion space and late onsite 2015. parkingTowers structureII would include with two five eight- office/industrial buildings totaling dwellingfour-story and buildings Mellow's over Nursery. two floors, This squareAvenue. feet Most and of 79% the floor land areais part ratio. of a industrialamenities building building. and Estimated construct a structureSurgical campus,is built prior resulting to the in unfinishedadditional residentialtwo buildings. and 140retail square feet and one ±13,969 square on seven levels and a ±24,000 square with a neighboring building for up to underground basement parking. café.Phase Estimated I includes delivery three buildings date is Q3 undergroundstory office buildings, levels at fouran existing parking ±768,665 square feet and ispodium the only parking site within and athe ±30,000 Peery Park Projectportfolio is withinthat San the Francisco-based Peery Park newcompletion ±100,091 date square is Q2 foot 2016. two-story construction±560,731 square of the feet second total building. and component,Caspian for as±118,596 well as squareland approved feet and foot amenities building. The project foot amenities building. The 6.9-acre ±320,000 square feet. Estimated Project includes reconfiguration of 2017.totaling ±945,816 square feet and multi-buildingstructures and office one amenities site. The construction of 11 three-story and Districtsquare thatfoot isamenities still residentially building. used District.Simeon Valley West has been assembling with office building with a partial 59.2% floor area ratio. The project is for169 ±435,000 Java for square±118,596 feet square of hotel, feet would be serviced by a new fivesite includes 701 parking stalls delivery in Q4 2016. existing surface parking lot. The one ±52,000 square-foot fitness existingbuilding. buildings Estimated total delivery ±210,000 of phase two four-story buildings totaling andPreleased is listed by as Apple a Heritage August Landmark 2015. capital partner Kinship Capital. mezzanine for a total FAR of 50%. within the future Lawrence Station office,still to retail be built. and Purchasedresidential. by CB level parking garage. Estimated provided in both a freestanding existing three buildings totaling facility. Phase II will include an squareI is late feet 2017. and LOI are out leased to Google. to ±1,432,043 square feet; two one- in Sunnyvale. Area Plan. Global Investors June 2014. delivery is Q3 2017. parking deck and surface parking. ±425,000 square feet in the project additional three buildings totaling Synopsys. Project is located within story and one two-story amenities are leased to Google. ±945,816 square feet. Final the Peery Park District. buildingsCOLLIERS totaling ±24,000INTERNATIONAL square NEW DEVELOPMENT PIPELINE completion is expected in 2019. feet; andSILICON two six-level VALLEY and one four-SUNNYVALE JULY 2016 29 level above-grade parking structures Project Name Moffett Place Moffett Towers II Central Sunnyvale Campus Moffett Gateway Java Metro Center Mathilda Commons Yahoo Campus Pastoria & Maude Avenue 684 West Maude Avenue 1050 Kifer Avenue Address 155 Moffett Park Drive 1111 Lockheed Martin Way 260 N. Wolfe Road Java Drive & Crossman Avenue 111 Java Drive 625-675 N. Mathilda Avenue 399 Java Drive Developer Jay Paul Jay Paul Irvine Company Jay Paul Simeon Commercial Jay Paul Intuitive Surgical CB Global Investors JP DiNapoli Yahoo, Inc Total Project Size 1,944,132 1,797,385 1,432,043 770,000 652,000 593,484 560,731 387,192 341,104 316,000 Number of Bldgs 6 5 13 3 4 2 2 2 2 1 Divisible to 315,272 100,000 TBD 60,000 TBD 281,432 N/A 118,596 161,800 N/A Acreage 55.39 47.4 29.5 18 14.38 15.5 9.78 12.55 7.9 6.9 FAR (Coverage) 81% 80% 93% 100% 100% 88% 60% 70% 100% 104% # of Floors 8 8 4 4 4 7 TBD 4 & 5 4 7 Size of Floors 39,409 42,000 28,000 60,000 - 180,000 39,000 40,000 TBD 29,649 40,000 45,000 Parking Ratio 3.3 3.3 2.1 3.4 3.0 3.3 TBD 3.5 3.33 2.2 Parking Surface & Structured Structured Surface & Structured Surface & Structured Surface & Structured Surface & Structured Structured Surface & Structured Structured Surface & Structured Rental Rate $3.50 NNN $4.25 NNN TBD $4.25 NNN TBD $3.95 NNN TBD $3.10 NNN $4.35 NNN TBD Shell Warm Warm TBD Warm TBD Warm TBD Warm Warm TBD T.I. Allowance $45.00 $50.00 TBD $40.00 TBD $45.00 TBD $25.00 $45.00 TBD Project Status Shell Complete/Entitled Entitled Seeking Entitlements Under Construction (BTS) Seeking Entitlements Shell Complete Seeking Entitlements Shell Complete / Entitled Seeking Entitlements Entitled Comments Preleased by Google. Terms indicate Proposal for the expansion of Proposal to redevelop up to ±29.5 Redevelopment of nine R&D Proposal for four four-story buildings Two seven-story ±281,432 square Proposal to construct two new One ±150,000 square-foot building Proposal to redevelop 8 parcels and Entitlement and plan approval for a a five year phase in. Construction Moffett Towers, an existing seven acres in the Peery Park submarket. properties along Wolfe, Santa Ana & totaling ±652,000 square feet on foot buildings. Campus would office/R&D buildings and two has been shell complete for five build two new four-story office/R&D Class A office development broke ground early 2014 on Phase I, building office project. Moffett Demolition of 28 existing Arques. Project would include three West Maude Avenue near Potrero include a ±12,600 square foot parking structures on the Intuitive years with no tenant. Entitled for an buildings for a total of ±327,135 consisting of ±316,000 square feet and reached completion late 2015. Towers II would include five eight- office/industrial buildings totaling four-story buildings over two floors, Avenue. Most of the land is part of a amenities building. Estimated Surgical campus, resulting in additional two buildings. 140 square feet and one ±13,969 square on seven levels and a ±24,000 square Phase I includes three buildings story office buildings, four parking ±768,665 square feet and podium parking and a ±30,000 portfolio that San Francisco-based completion date is Q2 2016. ±560,731 square feet total and Caspian for ±118,596 square feet and foot amenities building. The project foot amenities building. The 6.9-acre totaling ±945,816 square feet and structures and one amenities construction of 11 three-story and square foot amenities building. Simeon has been assembling with 59.2% floor area ratio. The project is 169 Java for ±118,596 square feet would be serviced by a new fivesite includes 701 parking stalls one ±52,000 square-foot fitness building. Estimated delivery of phase two four-story buildings totaling Preleased by Apple August 2015. capital partner Kinship Capital. within the future Lawrence Station still to be built. Purchased by CB level parking garage. Estimated provided in both a freestanding facility. Phase II will include an I is late 2017. LOI out to Google. ±1,432,043 square feet; two one- Area Plan. Global Investors June 2014. delivery is Q3 2017. parking deck and surface parking. additional three buildings totaling story and one two-story amenities ±945,816 square feet. Final buildings totaling ±24,000 square completion is expected in 2019. feet; and two six-level and one four- Sunnyvale level above-grade parking structures

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Project Name Sunnyvale Town Center Project Name Mathilda Research Center Project Name Moffett Place Moffett Towers II SunnyvaleCentral Sunnyvale Town Center Campus Moffett Gateway Java Metro Center Mathilda Commons Yahoo Campus 215 Moffett Park Drive 520 Almanor Avenue 445 North Mary Avenue 675 Almanor Avenue 221 Mathilda AvenueAddress 265 SobranteSobrante WayWay 1212 Bordeaux Drive 505Pastoria Almanor & Maude Avenue Avenue 684 West Maude Avenue 1050 Kifer Avenue Address 1184 N. Mathilda Avenue Address 155 Moffett Park Drive 12121111 Bordeaux Lockheed DriveMartin Way 505 Almanor Avenue 300260 MathildaMathildaN. Wolfe AveAvenueRoad Java Drive & Crossman Avenue 111 Java Drive 625-675 N. Mathilda Avenue 399 Java Drive Developer Four Corners Common Wealth REIT Lane Partners Jay Paul Dollinger Properties Spear Street CapitalDeveloper SobranteJay Paul Properties, LLC CBREJay Paul Global Investors InvescoIrvine Company JPJay Morgan Paul Simeon Commercial Jay Paul Intuitive Surgical CB Global Investors JP DiNapoli Yahoo, Inc Total Project Size 260,000 248,259 230,000 171,734 168,520 128,224 Total Project Size 120,7401,944,132 100,0911,797,385 90,0001,432,043 84,691770,000 652,000 593,484 560,731 387,192 341,104 316,000 Number of Bldgs 1 1 1 1 1 1 Number of Bldgs 16 15 113 13 4 2 2 2 2 1 Divisible to 260,000 TBD 57,000 TBD TBD TBD Divisible to TBD315,272 TBD100,000 90,000TBD TBD60,000 TBD 281,432 N/A 118,596 161,800 N/A Acreage 9.54 18.83 4.4 8.42 3.83 4.3 Acreage 3.555.39 4.5947.4 1.0329.5 4.9618 14.38 15.5 9.78 12.55 7.9 6.9 FAR (Coverage) 62% 83% 120% 100% 101% 65% FAR (Coverage) 80%81% 50%80% 100%93% TBD100% 100% 88% 60% 70% 100% 104% # of Floors 2 5 4 6 5 4 # of Floors 48 28 34 34 4 7 TBD 4 & 5 4 7 Size of Floors 130,000 49,000 57,500 28,600 33,700 32,000 Size of Floors 30,18539,409 50,00042,000 30,00028,000 28,00060,000 - 180,000 39,000 40,000 TBD 29,649 40,000 45,000 Parking Ratio 3.4 TBD 3.1 TBD TBD TBD Parking Ratio TBD3.3 TBD3.3 3.52.1 3.53.4 3.0 3.3 TBD 3.5 3.33 2.2 Parking Surface Surface & Structured Surface & Structured TBD Structured Structured Parking StucturedSurface & Structured TBDStructured SurfaceSurface & & Structured Structured StructuredSurface & Structured Surface & Structured Surface & Structured Structured Surface & Structured Structured Surface & Structured Rental Rate $3.95 NNN TBD $4.75 NNN TBD TBD TBD Rental Rate TBD$3.50 NNN TBD$4.25 NNN $3.50TBD NNN TBD$4.25 NNN TBD $3.95 NNN TBD $3.10 NNN $4.35 NNN TBD Shell Warm TBD Warm TBD TBD TBD Shell TBDWarm TBDWarm TBDTBD TBDWarm TBD Warm TBD Warm Warm TBD T.I. Allowance TBD TBD TBD TBD TBD TBD T.I. Allowance TBD$45.00 TBD$50.00 TBDTBD TBD$40.00 TBD $45.00 TBD $25.00 $45.00 TBD Project Status Under Construction (SPEC) Entitled Entitled Seeking Entitlements Seeking Entitlements Seeking EntitlementsProject Status SeekingShell Complete/Entitled Entitlements SeekingEntitled Entitlements EntitledSeeking Entitlements EntitledUnder Construction (BTS) Seeking Entitlements Shell Complete Seeking Entitlements Shell Complete / Entitled Seeking Entitlements Entitled Comments One two-story building with One ±248,259 square foot, five-story One new four-story building totaling Proposal to add a new six-story, Development proposal to allow for a Proposed four-storyComments office building AllowPreleased a four-story by Google. office/R&D Terms indicate MinorProposal Moffett for the Park expansion Design Review of SecondProposal building to redevelop to join upan toexisting ±29.5 ± JPRedevelopment Morgan purchased of nine the R&D property Proposal for four four-story buildings Two seven-story ±281,432 square Proposal to construct two new One ±150,000 square-foot building Proposal to redevelop 8 parcels and Entitlement and plan approval for a ±130,000 square foot floor plates. office/R&D building over a three- ±230,000 square feet. Targeting ±171,734 square foot office building ±168,520 square foot office building within the Peery Park District. Site is buildinga five year with phase a detached in. Construction parking permitMoffett to Towers, demolish an an existing existing seven 166,000acres in squarethe Peery foot Park office submarket. building. forproperties $270M in along December Wolfe, 2015.Santa Buyer Ana & totaling ±652,000 square feet on foot buildings. Campus would office/R&D buildings and two has been shell complete for five build two new four-story office/R&D Class A office development Project will include a ±5,000 square level parking structure attached to LEED Gold. Will include a secure and a four level above-ground with a four-story parking structure. current occupied by a single-family structure,broke ground resulting early in2014 ±120,740 on Phase I, ±79,091building square office project.foot one-story Moffett WouldDemolition require of 28that existing a parking aquiredArques. the Project existing would project, include the three West Maude Avenue near Potrero include a ±12,600 square foot parking structures on the Intuitive years with no tenant. Entitled for an buildings for a total of ±327,135 consisting of ±316,000 square feet foot amenities building. Contiguous the building, including one-level of open air amenity space and onsite parking structure with two dwelling and Mellow's Nursery. This squareand reached feet and completion 79% floor late area 2015. ratio. industrialTowers II buildingwould include and construct five eight- a structureoffice/industrial is built priorbuildings to the totaling unfinishedfour-story residentialbuildings over and two retail floors, Avenue. Most of the land is part of a amenities building. Estimated Surgical campus, resulting in additional two buildings. 140 square feet and one ±13,969 square on seven levels and a ±24,000 square with a neighboring building for up to underground basement parking. café. Estimated delivery date is Q3 underground levels at an existing is the only site within the Peery Park ProjectPhase I isincludes within thethree Peery buildings Park newstory ±100,091 office buildings, square footfour two-storyparking construction±768,665 square of the feet second and building. component,podium parking as well and as a land±30,000 approved portfolio that San Francisco-based completion date is Q2 2016. ±560,731 square feet total and Caspian for ±118,596 square feet and foot amenities building. The project foot amenities building. The 6.9-acre ±320,000 square feet. Estimated Project includes reconfiguration of 2017. multi-building office site. The District that is still residentially used District.totaling ±945,816 square feet and officestructures building and with one aamenities partial construction of 11 three-story and forsquare ±435,000 foot amenitiessquare feet building. of hotel, Simeon has been assembling with 59.2% floor area ratio. The project is 169 Java for ±118,596 square feet would be serviced by a new fivesite includes 701 parking stalls delivery in Q4 2016. existing surface parking lot. The existing buildings total ±210,000 and is listed as a Heritage Landmark one ±52,000 square-foot fitness mezzaninebuilding. Estimated for a total delivery FAR of 50%.of phase two four-story buildings totaling office,Preleased retail by and Apple residential. August 2015. capital partner Kinship Capital. within the future Lawrence Station still to be built. Purchased by CB level parking garage. Estimated provided in both a freestanding existing three buildings totaling square feet and are leased to in Sunnyvale. facility. Phase II will include an I is late 2017. LOI out to Google. ±1,432,043 square feet; two one- Area Plan. Global Investors June 2014. delivery is Q3 2017. parking deck and surface parking. ±425,000 square feet in the project Synopsys. Project is located within additional three buildings totaling story and one two-story amenities are leased to Google. the Peery Park District. COLLIERS INTERNATIONAL±945,816 square NEW feet. DEVELOPMENT Final PIPELINE buildings totaling ±24,000 square 30 SILICON VALLEYcompletion isSUNNYVALE expected in 2019.JULY 2016 feet; and two six-level and one four- level above-grade parking structures Sunnyvale Palo Alto

21 Mountain View

Project Name Sunnyvale Town Center Project Name Mathilda Research Center Sunnyvale Town CenterProject Name Moffett Place Moffett Towers II Central Sunnyvale Campus Moffett Gateway Java Metro Center Mathilda Commons Yahoo Campus 520 Almanor Avenue 445 North Mary Avenue 675 Almanor Avenue 221 Mathilda Avenue 265 Sobrante Way 1212 Bordeaux Drive 505 Almanor Avenue Address 623623 North Pastoria AvenueAvenue 1212 Bordeaux Drive 505Pastoria Almanor & Maude Avenue Avenue 300 Mathilda Avenue 684 West Maude Avenue 1050 Kifer Avenue Sunnyvale Address 1184 N. Mathilda Avenue 300 Mathilda Ave Address 155 Moffett Park Drive 1111 Lockheed Martin Way 260 N. Wolfe Road Sunnyvale Java Drive & Crossman Avenue 111 Java Drive 625-675 N. Mathilda Avenue 399 Java Drive Developer Common Wealth REIT Lane Partners Jay Paul Dollinger Properties Spear Street Capital Sobrante Properties, LLC CBRE Global Investors Invesco JP Morgan Developer GeorgeJay Paul Yagmourian Jay Paul Irvine Company Jay Paul Simeon Commercial Jay Paul Intuitive Surgical CB Global Investors JP DiNapoli Yahoo, Inc Total Project Size 248,259 230,000 171,734 168,520 128,224 120,740 100,091 90,000 84,691 Total Project Size 56,1061,944,132 1,797,385 1,432,043 770,000 652,000 593,484 560,731 387,192 341,104 316,000 Number of Bldgs 1 1 1 1 1 1 1 1 1 Number of Bldgs 16 5 13 3 4 2 2 2 2 1 Divisible to TBD 57,000 TBD TBD TBD TBD TBD 90,000 TBD Divisible to 56,106315,272 100,000 TBD 60,000 TBD 281,432 N/A 118,596 161,800 N/A Acreage 18.83 4.4 8.42 3.83 4.3 3.5 4.59 1.03 4.96 Acreage 1.4955.39 47.4 29.5 18 14.38 15.5 9.78 12.55 7.9 6.9 FAR (Coverage) 83% 120% 100% 101% 65% 80% 50% 100% TBD FAR (Coverage) 86%81% 80% 93% 100% 100% 88% 60% 70% 100% 104% # of Floors 5 4 6 5 4 4 2 3 3 # of Floors 38 8 4 4 4 Santa Clara 7 TBD 4 & 5 4 7 Size of Floors 49,000 57,500 28,600 33,700 32,000 30,185 50,000 30,000 28,000 Size of Floors 18,70239,409 42,000 28,000 60,000 - 180,000 39,000 40,000 TBD 29,649 40,000 45,000 Parking Ratio TBD 3.1 TBD TBD TBD TBD TBD 3.5 3.5 Parking Ratio TBD3.3 3.3 2.1 3.4 3.0 3.3 TBD 3.5 3.33 2.2 Parking Surface & Structured Surface & Structured TBD Structured Structured Stuctured TBD Surface & Structured Structured Parking Surface & UndergroundStructured Structured Surface & Structured Surface & Structured Surface & Structured Surface & Structured Structured Surface & Structured Structured Surface & Structured Rental Rate TBD $4.75 NNN TBD TBD TBD TBD TBD $3.50 NNN TBD Rental Rate TBD$3.50 NNN $4.25 NNN TBD $4.25 NNN TBD $3.95 NNN TBD $3.10 NNN $4.35 NNN TBD Shell TBD Warm TBD TBD TBD TBD TBD TBD TBD Shell TBDWarm Warm TBD Warm TBD Warm TBD Warm Warm TBD

T.I. Allowance TBD TBD TBD TBD TBD TBD TBD TBD TBD T.I. Allowance TBD$45.00 $50.00 TBD $40.00 TBDSan Jose $45.00 TBD $25.00 $45.00 TBD Project Status Entitled Entitled Seeking Entitlements Seeking Entitlements Seeking Entitlements Seeking Entitlements Seeking Entitlements Entitled Entitled Project Status SeekingShell Complete/Entitled Entitlements Entitled Seeking Entitlements Under Construction (BTS) Seeking Entitlements Shell Complete Seeking Entitlements Shell Complete / Entitled Seeking Entitlements Entitled Comments One ±248,259 square foot, five-story One new four-story building totaling Proposal to add a new six-story, Development proposal to allow for a Proposed four-story office building Allow a four-story office/R&D Minor Moffett Park Design Review Second building to join an existing ± JP Morgan purchasedComments the property ProposalPreleased for by a Google. new ±56,106 Terms square indicate Proposal for the expansion of Proposal to redevelop up to ±29.5 Redevelopment of nine R&D Proposal for four four-story buildings Two seven-story ±281,432 square Proposal to construct two new One ±150,000 square-foot building Proposal to redevelop 8 parcels and Entitlement and plan approval for a office/R&D building over a three- ±230,000 square feet. Targeting ±171,734 square foot office building ±168,520 square foot office building within the Peery Park District. Site is building with a detached parking permit to demolish an existing 166,000 square foot office building. for $270M in December 2015. Buyer foota five three-story year phase office in. Construction building with Moffett Towers, an existing seven acres in the Peery Park submarket. properties along Wolfe, Santa Ana & totaling ±652,000 square feet on foot buildings. Campus would office/R&D buildings and two has been shell complete for five build two new four-story office/R&D Class A office development level parking structure attached to LEED Gold. Will include a secure and a four level above-ground with a four-story parking structure. current occupied by a single-family structure, resulting in ±120,740 ±79,091 square foot one-story Would require that a parking aquired the existing project, the onebroke level ground of underground early 2014 on parking. Phase I, building office project. Moffett Demolition of 28 existing Arques. Project would include three West Maude Avenue near Potrero include a ±12,600 square foot parking structures on the Intuitive years with no tenant. Entitled for an buildings for a total of ±327,135 consisting of ±316,000 square feet the building, including one-level of open air amenity space and onsite parking structure with two dwelling and Mellow's Nursery. This square feet and 79% floor area ratio. industrial building and construct a structure is built prior to the unfinished residential and retail Theand existingreached ±11,716 completion square late foot 2015. Towers II would include five eight- office/industrial buildings totaling four-story buildings over two floors, Avenue. Most of the land is part of a amenities building. Estimated Surgical campus, resulting in additional two buildings. 140 square feet and one ±13,969 square on seven levels and a ±24,000 square underground basement parking. café. Estimated delivery date is Q3 underground levels at an existing is the only site within the Peery Park Project is within the Peery Park new ±100,091 square foot two-story construction of the second building. component, as well as land approved industrialPhase I includes building three will bebuildings story office buildings, four parking ±768,665 square feet and podium parking and a ±30,000 portfolio that San Francisco-based completion date is Q2 2016. ±560,731 square feet total and Caspian for ±118,596 square feet and foot amenities building. The project foot amenities building. The 6.9-acre Project includes reconfiguration of 2017. multi-building office site. The District that is still residentially used District. office building with a partial for ±435,000 square feet of hotel, demolished.totaling ±945,816 Project square is located feet andwithin structures and one amenities construction of 11 three-story and square foot amenities building. Simeon Valley West has been assembling with 59.2% floor area ratio. The project is 169 Java for ±118,596 square feet would be serviced by a new fivesite includes 701 parking stalls existing surface parking lot. The existing buildings total ±210,000 and is listed as a Heritage Landmark mezzanine for a total FAR of 50%. office, retail and residential. theone Peery ±52,000 Park square-foot Specific Plan fitness area. building. Estimated delivery of phase two four-story buildings totaling Preleased by Apple August 2015. capital partner Kinship Capital. within the future Lawrence Station still to be built. Purchased by CB level parking garage. Estimated provided in both a freestanding existing three buildings totaling square feet and are leased to in Sunnyvale. facility. Phase II will include an I is late 2017. LOI out to Google. ±1,432,043 square feet; two one- Area Plan. Global Investors June 2014. delivery is Q3 2017. parking deck and surface parking. ±425,000 square feet in the project Synopsys. Project is located within additional three buildings totaling story and one two-story amenities are leased to Google. the Peery Park District. ±945,816 square feet. Final buildingsCOLLIERS totaling ±24,000INTERNATIONAL square NEW DEVELOPMENT PIPELINE completion is expected in 2019. feet; andSILICON two six-level VALLEY and one four-SUNNYVALE JULY 2016 31 level above-grade parking structures Palo Alto Project Developer Total Project Size Project Status 1 1050 Page Mill Road Sand Hill Properties 287,980 Seeking Entitlements 2 University Plaza Sobrato/TMG 214,052 Under Construction (SPEC) 3 Park Plaza Harold Hobach 152,091 Under Construction (SPEC) 4 3251 Hanover Street Sand Hill Properties 115,500 Seeking Entitlements 5 VMware CSG Building Stanford University 100,000 Seeking Entitlements 6 3170 Porter Avenue Stanford University 98,000 Entitled 7 VMware HTG Building Stanford University 86,000 Seeking Entitlements 8 1450 Page Mill Road Stanford University 77,199 Under Construction (SPEC) 9 Mayfield Office Building Minkoff Group 63,746 Under Construction (SPEC) 10 College Terrace PCS Realty Advisors 52,504 Under Construction (BTS) 11 441 Page Mill Road Norm Schwab 35,521 Entitled 12 400 Cambridge Avenue Cambridge Investments LLC 35,000 Seeking Entitlements 13 2755 El Camino Real Jay Paul 33,323 Seeking Entitlements 14 2747 Park Boulevard Pollock Financial Group 33,000 Seeking Entitlements 15 3045 Park Boulevard Jay Paul 29,120 Seeking Entitlements 16 550 High Street Keenan Land Company 28,085 Shell Complete 17 2555 Park Avenue Tarlton Properties, Inc 24,466 Seeking Entitlements 18 636 Waverley Street D2 Realty Services 10,300 Under Construction (BTS) 19 MacArthur Park Arrillaga/Stanford TBD Planning Stages Total Potential Development 1,475,887

Sunnyvale Project Developer Total Project Size Project Status 1 Moffett Place Jay Paul 1,944,132 Shell Complete/Entitled 2 Moffett Towers II Jay Paul 1,797,385 Entitled 3 Pastoria & Maude Avenue Irvine Company 1,432,043 Seeking Entitlements 4 Central Sunnyvale Campus Jay Paul 770,000 Under Construction (BTS) 5 684 West Maude Avenue Simeon Commercial 652,000 Seeking Entitlements 6 Moffett Gateway Jay Paul 593,484 Shell Complete 7 1050 Kifer Avenue Intuitive Surgical 560,731 Seeking Entitlements 8 Java Metro Center CB Global Investors 387,192 Shell Complete / Entitled 9 Mathilda Commons JP DiNapoli 341,104 Seeking Entitlements 10 Yahoo Campus Yahoo, Inc 316,000 Entitled 11 237 Moffett Park Drive Four Corners 260,000 Under Construction (SPEC) 12 Mathilda Research Center Common Wealth REIT 248,259 Entitled 13 520 Almanor Avenue Lane Partners 230,000 Entitled 14 445 North Mary Avenue Jay Paul 171,734 Seeking Entitlements 15 675 Almanor Avenue Dollinger Properties 168,520 Seeking Entitlements 16 221 Mathilda Avenue Spear Street Capital 128,224 Seeking Entitlements 17 265 Sobrante Way Sobrante Properties, LLC 120,740 Seeking Entitlements 18 1212 Bordeaux Drive CBRE Global Investors 100,091 Seeking Entitlements 19 505 Almanor Avenue Invesco 90,000 Entitled 20 Sunnyvale Town Center JP Morgan 84,691 Entitled Santa Clara 21 623 North Pastoria Avenue George Yagmourian 56,106 Seeking Entitlements Total Potential Development 10,452,436

San Jose Project Developer Total Project Size Project Status COLLIERS INTERNATIONAL NEW DEVELOPMENT PIPELINE 1 Green Valley Research Park Coyote Valley Research Park LLC 4,400,000 Entitled 32 SILICON VALLEY SANTA CLARA JULY 2016 2 Apple Campus II Apple, Inc 4,150,000 Shell Complete/Entitled 3 2890 North First Street Boston Properties 1,560,000 Entitled 4 Coleman Highline Hunter/Storm 1,500,000 Under Construction (SPEC)/Entitled 5 Brokaw @ North First Peery/Arrillaga 1,000,000 Entitled 6 Destination Diridon Trammel Crow/Bentall Kennedy 1,000,000 Entitled 7 Santana West Federal Realty Investment Trust 969,000 Seeking Entitlements 8 The Plaza at Almaden Boston Properties 840,000 Entitled 9 HUB@DTSJ City of San Jose 750,000 Entitled 10 333 West San Fernando Street DiNapoli Company 700,000 Planning Stages 11 The Offices at Santana Row Federal Realty Investment Trust 700,000 Under Construction (SPEC)/Entitled 12 America Center Phase II & III USAA Real Estate Company 684,022 Under Construction(SPEC)/Entitled 13 237 @ First South Bay 614,809 Shell Complete/Entitled 14 Santa Teresa Research Park Sobrato Development 566,000 Seeking Entitlements 15 Innovation Plaza Broadcom Corp. 493,000 Entitled 16 Midpoint @ 237 Gemdale/Lincoln Properties 415,000 Entitled 17 SJSC Towers SJSC Properties LLC 350,000 Seeking Entitlements 18 Rail Yard Place Insight Realty 250,702 Planning Stages 19 @ First Phase II Hunter Storm/Brocade 249,814 Entitled 20 Museum Place Insight Realty 208,241 Entitled 21 Cadence Center Cadence Design 208,000 Planning Stages 22 River Corporate Center Sobrato Development 190,000 Entitled 23 eBay Phase II eBay 187,585 Planning Stages Total Potential Development 21,986,173

1 TASMAN DRIVE

10 Mountain View 2 11 6

MONTAGUE EXPWY GREAT AMERICA PKWYGREAT Sunnyvale 3 4 Sunnyvale 13

8 7 EL CAMINO REAL EVELYN AVE 5 Santa Clara Santa Clara

EL CAMINO REAL

San Jose

SAN TOMAS EXPWY TOMAS SAN LAWRENCE EXPWY LAWRENCE West Valley West 12 STEVENS CREEK BLVD

COLLIERS INTERNATIONAL NEW DEVELOPMENT PIPELINE SILICON VALLEY SANTA CLARA JULY 2016 33 Santa Clara

1 2 3 4

Project Name Related Santa Clara The Campus @ 3333 Santa Clara Square Project Name Santa Clara Square NVidia Campus Campus at Lawson Lane 24Hundred @ Mission Stadium Tech Center Related Santa Clara 4850 Old Ironsides Drive 3333 Scott Boulevard 4301 Great America Parkway 3000 Bowers Avenue 4800 Great America Parkway 5409 Stevens Creek Boulevard 3303 Scott Boulevard AddressAddress Tasman Drive 4850 Old Ironsides Drive 3315-3355 Scott Boulevard Augustine && BowersBowers San Tomas Exp & Walsh Avenue 2215-2225 Lawson Lane 2400 Mission College Boulevard 5490 Great America Parkway Developer Related Company LeEco Menlo Equities The Irvine Company Nvidia Sobrato Development Sobrato Development Sobrato Development South Bay Development/PCCP Deutsche Asset & Wealth Mgmt. Sobrato Development Peery & Arrillaga Toeniskoetter Real Estate Total Project Size 5,700,000 3,000,000 1,226,500 1,055,000 1,000,000 1,018,000 360,000 331,902 300,000 221,173 170,000 108,000 83,590 Number of Bldgs. 26 13 7 8 2 2 4 2 2 1 1 1 1 Divisible to TBD TBD 143,200 180,000 483,475 TBD 180,000 165,951 50,000 221,173 170,000 108,000 27,036 Acreage 239 48.6 19.9 30.73 25 18.5 16 7.19 8.5 7.21 2.8 5.08 2.5 FAR (Coverage) 88% 160% 140% 90% 89% 125% 100% 105% 80% 70% 140% 133% 78% # of Floors TBD 6 4 & 6 6 & 8 2 TBD 6 5 6 8 5 6 3 Size of Floors TBD 38,000 35,000-38,483 30,000 240,000 TBD 30,000 34,000 30,000 35,000 34,000 18,000 - 30,000 27,036 Parking Ratio TBD TBD 3.3 3.3 3.5 TBD 4.0 3.0 3.0 3.3 3.3 3.7 3.75 Parking Surface & Structured Below ground Surface & Structured Surface & Structured Structured & Underground TBD Surface & Structured Surface & Structured Surface & Structured Surface & Structured Surface & Structured Structured & Underground Surface Rental Rate TBD TBD $3.50 NNN $3.50 NNN TBD TBD TBD $3.15 NNN $3.50 NNN $3.75 NNN $3.65 NNN TBD $3.65 NNN Shell TBD TBD Warm Warm TBD TBD Warm TBD Warm Warm Warm Warm Warm T.I. Allowance TBD TBD $50.00 $45.00 TBD TBD TBD TBD $50.00 $40.00 $40.00 TBD TBD Project Status Entitled Entitled Under Construction (BTS) Under Construction (SPEC) Under Construction(BTS)/Entitled Seeking Entitlements Entitled Entitled Under Construction (SPEC)/Entitled Shell Complete Shell Complete Entitled Shell Complete Comments Separated into five parcels that will Yahoo received approval in 2010 to Phase I includes three buildings Construction complete on phase I. Nvidia filed plans for 1 million square Proposal to demolish two existing Phase I fully leased by ServiceNow. Two five-story buildings totaling TI allowance is also TBD but assumed Six-story high profile corporate Preleased by Citrix Q1 2014. Preleased by Apple in 2012. This New ±83,000 square-foot three-story be developed in phases. The largest build up to 3 million square feet. totaling ±449,658 square feet. Phase Inclusive of one six-story building feet of office space on company land buildings totaling ±350,000 square Entitled for an additional phase II ±300,000 square feet and one two- to be ±$50/sf. Two new six-story headquarters building directly across Development located directly across building is the second phase of an office building. Project will include parcel will house the City Center and Yahoo demolished the buildings on I is currently 95% leased. In Phase II, ±180,000 square feet and two eight- adjacent to its current Santa Clara feet and construct two high rise that will include two six-story story ±17,000 square foot amenities Class A office buildings, the street from Santa Clara Gateway. from the new 49er's stadium and existing 186,000 square-foot building electric vehicle charging stations. Site the majority of the residential, site, but never began construction. Palo Alto Networks preleased story buildings ±240,000 square feet headquarters. Would be built in two office towers totaling ±1,018,000 buildings totaling ±360,000 square building. Will not build without a approximately ±150,000 square feet Broke ground Q2 2014, shell existing Citrix campus. Completion in built for Apple in 2013. The is within one block of a Caltrain entertainment, retail, and restaurant The land, with entitlements sold to ±660,000 square feet in two eight- each. Ericsson leased ±412,492 phases, each phase will consist of a square feet. The existing project will feet. Total size of project would be tenant. each. The two new buildings will join complete December 2015. Q4 2015. Citrix never occupied the developer needed to relocate an shuttle stop. Construction began in space. It’s anticipated that Chinese tech company LeEco in June story buildings and a private amenity square feet in two buildings of phase single, ±500,000 square-foot be vacated by Palo Alto Networks in ±688,909 square feet, inclusive of an one existing building and the building, and it is now available for IHOP prior to being able to construct the fall 2014, and was completed Q4 construction of the first phase will 2016 for a reported $250 Million. In a facility, Aruba has preleased five I, the third building is available and building. Phase I of the project broke 2017. ±18,500 square foot amenities developer will also build a new 6- sublease. the second building. A new location 2015. commence in 2017 and be statement from LeEco, the company floors in one ±240,000 six-story shell complete. Phase II is entitled for ground September 2015. building. ServiceNow has first right of level parking structure on the site. was identified early 2015, completed by 2020. Future phases intends to build the office portion of building. Phase III includes one an additional five six-story buildings. refusal to phase II. Developer broke ground on one construction is expected to begin consisting of office space, with a mix the campus and house nearly 1,200 ±310,000 square foot building, also Construction to begin on phase II late building, completion is expected Q2 shortly after the relocation is of retail, as well as food and employees at the site. preleased by Palo Alto Networks. 2015 with completion near the end 2017. complete. beverage offerings, will be developed Phase I of the project sold to Clarion of 2017. over a period of 10-15 years and Partners December 2015. Phase II & subject to market demand. III are currently under construction, completion is expected Q2 2017. Santa Clara Palo Alto

5 6 7 8 Mountain View

Project Name Nvidia Campus Campus at Lawson Lane Project Name Santa Clara SquareProject Name NVidia Campus Campus at Lawson Lane Santa Clara Square 24HundredNVidia Campus @ Mission Stadium Tech Center Campus at Lawson Lane 24Hundred @ Mission Stadium Tech Center Related Santa Clara 4850 Old Ironsides Drive 3333 Scott Boulevard Related Santa Clara 43014850 Great Old Ironsides America Drive Parkway 3333 Scott Boulevard 3000 Bowers Avenue 4301 Great America Parkway 4800 Great America Parkway 54093000 Stevens Bowers Creek Avenue Boulevard 3303 Scott Boulevard 4800 Great America Parkway 5409 Stevens Creek Boulevard 3303 Scott Boulevard Address Augustine & BowersAddressAddress San TomasTomas Exp Exp. & Walsh& Walsh Avenue Avenue 4301 Great America Pkwy. 2200-22112215-2225 Lawson Lawson Lane Lane 3000Augustine Bowers & Bowers Avenue 2400San MissionTomas Exp College & Walsh Boulevard Avenue 5490 Great America Parkway 2215-2225 Lawson Lane 2400 Mission College Boulevard 5490 Great America Parkway Sunnyvale Developer Related Company LeEco Menlo Equities The Irvine CompanyDeveloper NvidiaRelated Company SobratoLeEco Development SobratoMenlo EquitiesDevelopment SobratoThe Irvine Development Company SouthNvidia Bay Development/PCCPSunnyvale DeutscheSobrato Asset Development & Wealth Mgmt. SobratoSobrato Development Development PeerySobrato & Arrillaga Development ToeniskoetterSouth Bay Development/PCCP Real Estate Deutsche Asset & Wealth Mgmt. Sobrato Development Peery & Arrillaga Toeniskoetter Real Estate Total Project Size 5,700,000 3,000,000 1,226,500 1,055,000 Total Project Size 1,000,0005,700,000 1,018,0003,000,000 360,0001,226,500 331,9021,055,000 300,0001,000,000 221,1731,018,000 170,000360,000 108,000331,902 83,590300,000 221,173 170,000 108,000 83,590 Number of Bldgs. 26 13 7 8 Number of Bldgs. 226 213 47 28 2 2 1 2 1 4 1 2 1 2 1 1 1 1 Divisible to TBD TBD 143,200 180,000 Divisible to 483,475TBD TBDTBD 180,000143,200 165,951180,000 50,000483,475 221,173TBD 170,000180,000 108,000165,951 27,03650,000 221,173 170,000 108,000 27,036 Acreage 239 48.6 19.9 30.73 Acreage 25239 18.548.6 1619.9 7.1930.73 8.525 7.2118.5 2.816 5.087.19 2.58.5 7.21 2.8 5.08 2.5 FAR (Coverage) 88% 160% 140% 90% FAR (Coverage) 89%88% 125%160% 100%140% 105%90% 80%89% 70%125% 140%100% 133%105% 78%80% 70% 140% 133% 78% # of Floors TBD 6 4 & 6 6 & 8 # of Floors 2TBD TBD6 64 & 6 56 & 8 6 2 8 TBD 5 6 6 5 3 6 8 5 6 3 Size of Floors TBD 38,000 35,000-38,483 30,000 Size of Floors 240,000TBD TBD38,000 30,00035,000-38,483 34,00030,000 30,000240,000 Santa Clara 35,000TBD 34,00030,000 18,00034,000 - 30,000 27,03630,000 35,000 34,000 18,000 - 30,000 27,036 Parking Ratio TBD TBD 3.3 3.3 Parking Ratio 3.5TBD TBDTBD 4.03.3 3.03.3 3.03.5 3.3TBD 3.34.0 3.73.0 3.753.0 3.3 3.3 3.7 3.75 Parking Surface & Structured Below ground Surface & Structured Surface & StructuredParking StructuredSurface & Structured & Underground TBDBelow ground SurfaceSurface & & Structured Structured SurfaceSurface & & Structured Structured SurfaceStructured & Structured & Underground SurfaceTBD & Structured SurfaceSurface & Structured& Structured StructuredSurface && StructuredUnderground SurfaceSurface & Structured Surface & Structured Surface & Structured Structured & Underground Surface Rental Rate TBD TBD $3.50 NNN $3.50 NNN Rental Rate TBDTBD TBDTBD TBD$3.50 NNN $3.15$3.50 NNN NNN $3.50TBD NNN $3.75TBD NNN $3.65TBD NNN TBD$3.15 NNN $3.65$3.50 NNN NNN $3.75 NNN $3.65 NNN TBD $3.65 NNN Shell TBD TBD Warm Warm Shell TBDTBD TBDTBD WarmWarm TBDWarm WarmTBD WarmTBD WarmWarm WarmTBD WarmWarm Warm Warm Warm Warm T.I. Allowance TBD TBD $50.00 $45.00 T.I. Allowance TBDTBD TBDTBD TBD$50.00 TBD$45.00 $50.00TBD $40.00TBD $40.00TBD TBDTBD TBD$50.00 $40.00 $40.00 TBD TBD

Project Status Entitled Entitled Under Construction (BTS) Under ConstructionProject (SPEC) Status UnderEntitled Construction(BTS)/Entitled SeekingEntitled Entitlements EntitledUnder Construction (BTS) EntitledUnder Construction (SPEC) UnderUnder Construction Construction(BTS)/EntitledSan Jose (SPEC)/Entitled ShellSeeking Complete Entitlements ShellEntitled Complete EntitledEntitled ShellUnder Complete Construction (SPEC)/Entitled Shell Complete Shell Complete Entitled Shell Complete Comments Separated into five parcels that will Yahoo received approval in 2010 to Phase I includes three buildings Construction completeComments on phase I. NvidiaSeparated filed into plans five for parcels 1 million that square will ProposalYahoo received to demolish approval two inexisting 2010 to PhasePhase I Ifully includes leased three by ServiceNow. buildings TwoConstruction five-story completebuildings totalingon phase I. TINvidia allowance filed isplans also forTBD 1 butmillion assumed square Six-story Proposal high to profiledemolish corporate two existing PreleasedPhase I fullyby Citrix leased Q1 by2014. ServiceNow. PreleasedTwo five-story by Apple buildings in 2012. totaling This NewTI ±83,000allowance square-foot is also TBD three-story but assumed Six-story high profile corporate Preleased by Citrix Q1 2014. Preleased by Apple in 2012. This New ±83,000 square-foot three-story be developed in phases. The largest build up to 3 million square feet. totaling ±449,658 square feet. Phase Inclusive of one six-story building feetbe developed of office space in phases. on company The largest land buildingsbuild up tototaling 3 million ±350,000 square square feet. Entitledtotaling for ±449,658 an additional square phase feet. PhaseII ±300,000Inclusive square of one feetsix-story and one building two- tofeet be ±$50/sf. of office Two space new on six-storycompany landheadquarters buildings totaling building ±350,000 directly square across DevelopmentEntitled for locatedan additional directly phase across II building±300,000 is the square second feet phase and ofone an two- officeto bebuilding. ±$50/sf. Project Two newwill include six-story headquarters building directly across Development located directly across building is the second phase of an office building. Project will include parcel will house the City Center and Yahoo demolished the buildings on I is currently 95% leased. In Phase II, ±180,000 square feet and two eight- adjacentparcel will to house its current the City Santa Center Clara and feetYahoo and demolished construct two the highbuildings rise on thatI is currentlywill include 95% two leased. six-story In Phase II, story±180,000 ±17,000 square square feet foot and amenities two eight- Classadjacent A office to itsbuildings, current Santa Clara thefeet street and from construct Santa two Clara high Gateway. rise fromthat the will new include 49er's two stadium six-story and existingstory 186,000±17,000 square-footsquare foot buildingamenities electric Class vehicle A office charging buildings, stations. Site the street from Santa Clara Gateway. from the new 49er's stadium and existing 186,000 square-foot building electric vehicle charging stations. Site the majority of the residential, site, but never began construction. Palo Alto Networks preleased story buildings ±240,000 square feet headquarters.the majority of Would the residential, be built in two officesite, but towers never totaling began ±1,018,000 construction. buildingsPalo Alto totaling Networks ±360,000 preleased square building.story buildings Will not ±240,000 build without square a feet approximatelyheadquarters. ±150,000 Would be square built infeet two Brokeoffice ground towers Q2 totaling 2014, shell±1,018,000 existingbuildings Citrix totaling campus. ±360,000 Completion square in builtbuilding. for Apple Will in not 2013. build The without a is withinapproximately one block ±150,000 of a Caltrain square feet Broke ground Q2 2014, shell existing Citrix campus. Completion in built for Apple in 2013. The is within one block of a Caltrain entertainment, retail, and restaurant The land, with entitlements sold to ±660,000 square feet in two eight- each. Ericsson leased ±412,492 phases,entertainment, each phase retail, will and consist restaurant of a squareThe land, feet. with The entitlements existing project sold will to feet.±660,000 Total sizesquare of project feet in twowould eight- be tenant.each. Ericsson leased ±412,492 each.phases, The eachtwo new phase buildings will consist will joinof a completesquare feet.December The existing 2015. project willQ4 feet. 2015. Total Citrix size never of project occupied would the be developertenant. needed to relocate an shuttleeach. stop. The Constructiontwo new buildings began will in join complete December 2015. Q4 2015. Citrix never occupied the developer needed to relocate an shuttle stop. Construction began in space. It’s anticipated that Chinese tech company LeEco in June story buildings and a private amenity square feet in two buildings of phase single,space. ±500,000It’s anticipated square-foot that beChinese vacated tech by companyPalo Alto NetworksLeEco in June in ±688,909story buildings square and feet, a inclusiveprivate amenity of an square feet in two buildings of phaseone single, existing ±500,000 building square-foot and the be vacated by Palo Alto Networks in building,±688,909 and square it is now feet, available inclusive for of anIHOP prior to being able to construct theone fall 2014,existing and building was completed and the Q4 building, and it is now available for IHOP prior to being able to construct the fall 2014, and was completed Q4 construction of the first phase will 2016 for a reported $250 Million. In a facility, Aruba has preleased five I, the third building is available and building.construction Phase of Ithe of thefirst project phase brokewill 2017.2016 for a reported $250 Million. In a ±18,500facility, squareAruba hasfoot preleased amenities five I, the third building is available and developerbuilding. willPhase also I ofbuild the aproject new 6- broke 2017. sublease.±18,500 square foot amenities the second building. A new location 2015.developer will also build a new 6- sublease. the second building. A new location 2015. West Valley West commence in 2017 and be statement from LeEco, the company floors in one ±240,000 six-story shell complete. Phase II is entitled for groundcommence September in 2017 2015. and be statement from LeEco, the company building.floors in ServiceNow one ±240,000 has six-story first right of shell complete. Phase II is entitled forlevel ground parking September structure 2015. on the site. building. ServiceNow has first right ofwas identified early 2015, level parking structure on the site. was identified early 2015, completed by 2020. Future phases intends to build the office portion of building. Phase III includes one an additional five six-story buildings. completed by 2020. Future phases intends to build the office portion of refusalbuilding. to phasePhase II.III includes one an additional five six-story buildings. Developer broke ground on one refusal to phase II. construction is expected to begin Developer broke ground on one construction is expected to begin consisting of office space, with a mix the campus and house nearly 1,200 ±310,000 square foot building, also Construction to begin on phase II late consisting of office space, with a mix the campus and house nearly 1,200 ±310,000 square foot building, also Construction to begin on phase II latebuilding, completion is expected Q2 shortly after the relocation is building, completion is expected Q2 shortly after the relocation is of retail, as well as food and employees at the site. preleased by Palo Alto Networks. 2015 with completion near the end of retail, as well as food and employees at the site. preleased by Palo Alto Networks. 2015 with completion near the end 2017. complete. 2017. complete. COLLIERS INTERNATIONAL NEW DEVELOPMENT PIPELINE beverage offerings, will be developed Phase I of the project sold to Clarion of 2017. beverage offerings, will be developed Phase I of the project sold to Clarion of 2017. over a period of 10-15 years and Partners December 2015. Phase II & over a period of 10-15 years and Partners DecemberSILICON 2015. VALLEY Phase II & SANTA CLARA JULY 2016 35 subject to market demand. III are currently under construction, subject to market demand. III are currently under construction, completion is expected Q2 2017. completion is expected Q2 2017. Santa Clara

9 10 11 12

Project Name 24Hundred @ Mission Project Name Santa Clara Square NVidia Campus Campus at Lawson Lane Project Name 24Hundred @ Mission Stadium Tech Tech Center Center Santa Clara Square NVidia Campus Campus at Lawson Lane 24Hundred @ Mission Stadium Tech Center Related Santa Clara 4850 Old Ironsides Drive 3333 Scott Boulevard 4301 Great America Parkway 3000 Bowers Avenue Related Santa Clara 4850 Old Ironsides Drive 33334800 ScottGreat BoulevardAmerica Parkway 5409 Stevens Creek Boulevard 3303 Scott Boulevard 4301 Great America Parkway 3000 Bowers Avenue 4800 Great America Parkway 5409 Stevens Creek Boulevard 3303 Scott Boulevard Address Augustine & Bowers San Tomas Exp & Walsh Avenue 2215-2225 Lawson Lane AddressAddress 24002400 Mission Mission College College Boulevard Boulevard 5490 Great Great America America Parkway Pkwy. 4800 Great America Pkwy. 5409Augustine Stevens & Bowers Creek Boulevard San Tomas Exp & Walsh Avenue 2215-2225 Lawson Lane 2400 Mission College Boulevard 5490 Great America Parkway Developer Related Company LeEco Menlo Equities The Irvine Company Nvidia Sobrato Development Sobrato Development Sobrato DevelopmentDeveloper RelatedSouth Bay Company Development/PCCP LeEcoDeutsche Asset & Wealth Mgmt. MenloSobrato Equities Development PeeryThe Irvine & Arrillaga Company ToeniskoetterNvidia Real Estate Sobrato Development Sobrato Development Sobrato Development South Bay Development/PCCP Deutsche Asset & Wealth Mgmt. Sobrato Development Peery & Arrillaga Toeniskoetter Real Estate Total Project Size 5,700,000 3,000,000 1,226,500 1,055,000 1,000,000 1,018,000 360,000 331,902 Total Project Size 5,700,000300,000 3,000,000221,173 1,226,500170,000 108,0001,055,000 83,5901,000,000 1,018,000 360,000 331,902 300,000 221,173 170,000 108,000 83,590 Number of Bldgs. 26 13 7 8 2 2 4 2 Number of Bldgs. 262 131 71 18 12 2 4 2 2 1 1 1 1 Divisible to TBD TBD 143,200 180,000 483,475 TBD 180,000 165,951 Divisible to TBD50,000 TBD221,173 143,200170,000 108,000180,000 27,036483,475 TBD 180,000 165,951 50,000 221,173 170,000 108,000 27,036 Acreage 239 48.6 19.9 30.73 25 18.5 16 7.19 Acreage 2398.5 48.67.21 19.92.8 5.0830.73 2.525 18.5 16 7.19 8.5 7.21 2.8 5.08 2.5 FAR (Coverage) 88% 160% 140% 90% 89% 125% 100% 105% FAR (Coverage) 88%80% 160%70% 140% 133%90% 78%89% 125% 100% 105% 80% 70% 140% 133% 78% # of Floors TBD 6 4 & 6 6 & 8 2 TBD 6 5 # of Floors TBD6 68 45 & 6 6 & 8 32 TBD 6 5 6 8 5 6 3 Size of Floors TBD 38,000 35,000-38,483 30,000 240,000 TBD 30,000 34,000 Size of Floors TBD30,000 38,00035,000 35,000-38,48334,000 18,00030,000 - 30,000 27,036240,000 TBD 30,000 34,000 30,000 35,000 34,000 18,000 - 30,000 27,036 Parking Ratio TBD TBD 3.3 3.3 3.5 TBD 4.0 3.0 Parking Ratio TBD3.0 TBD3.3 3.3 3.73.3 3.753.5 TBD 4.0 3.0 3.0 3.3 3.3 3.7 3.75 Parking Surface & Structured Below ground Surface & Structured Surface & Structured Structured & Underground TBD Surface & Structured Surface & StructuredParking SurfaceSurface && StructuredStructured BelowSurface ground & Structured Surface & Structured StructuredSurface & Structured & Underground SurfaceStructured & Underground TBD Surface & Structured Surface & Structured Surface & Structured Surface & Structured Surface & Structured Structured & Underground Surface Rental Rate TBD TBD $3.50 NNN $3.50 NNN TBD TBD TBD $3.15 NNN Rental Rate TBD$3.50 NNN TBD$3.75 NNN $3.50$3.65 NNN TBD$3.50 NNN $3.65TBD NNN TBD TBD $3.15 NNN $3.50 NNN $3.75 NNN $3.65 NNN TBD $3.65 NNN Shell TBD TBD Warm Warm TBD TBD Warm TBD Shell TBDWarm TBDWarm Warm Warm WarmTBD TBD Warm TBD Warm Warm Warm Warm Warm T.I. Allowance TBD TBD $50.00 $45.00 TBD TBD TBD TBD T.I. Allowance TBD$50.00 TBD$40.00 $50.00$40.00 TBD$45.00 TBD TBD TBD TBD $50.00 $40.00 $40.00 TBD TBD Project Status Entitled Entitled Under Construction (BTS) Under Construction (SPEC) Under Construction(BTS)/Entitled Seeking Entitlements Entitled Entitled Project Status EntitledUnder Construction (SPEC)/Entitled EntitledShell Complete UnderShell Complete Construction (BTS) EntitledUnder Construction (SPEC) ShellUnder Complete Construction(BTS)/Entitled Seeking Entitlements Entitled Entitled Under Construction (SPEC)/Entitled Shell Complete Shell Complete Entitled Shell Complete Comments Separated into five parcels that will Yahoo received approval in 2010 to Phase I includes three buildings Construction complete on phase I. Nvidia filed plans for 1 million square Proposal to demolish two existing Phase I fully leased by ServiceNow. Two five-story buildingsComments totaling SeparatedTI allowance into is fivealso parcels TBD but that assumed will YahooSix-story received high profile approval corporate in 2010 to PhasePreleased I includes by Citrix three Q1 buildings2014. PreleasedConstruction by Applecomplete in 2012. on phase This I. NewNvidia ±83,000 filed plans square-foot for 1 million three-story square Proposal to demolish two existing Phase I fully leased by ServiceNow. Two five-story buildings totaling TI allowance is also TBD but assumed Six-story high profile corporate Preleased by Citrix Q1 2014. Preleased by Apple in 2012. This New ±83,000 square-foot three-story be developed in phases. The largest build up to 3 million square feet. totaling ±449,658 square feet. Phase Inclusive of one six-story building feet of office space on company land buildings totaling ±350,000 square Entitled for an additional phase II ±300,000 square feet and one two- beto bedeveloped ±$50/sf. in Two phases. new six-storyThe largest buildheadquarters up to 3 million building square directly feet. across totalingDevelopment ±449,658 located square directly feet. acrossPhase buildingInclusive is of the one second six-story phase building of an officefeet of building. office space Project on companywill include land buildings totaling ±350,000 square Entitled for an additional phase II ±300,000 square feet and one two- to be ±$50/sf. Two new six-story headquarters building directly across Development located directly across building is the second phase of an office building. Project will include parcel will house the City Center and Yahoo demolished the buildings on I is currently 95% leased. In Phase II, ±180,000 square feet and two eight- adjacent to its current Santa Clara feet and construct two high rise that will include two six-story story ±17,000 square foot amenities parcelClass A will office house buildings, the City Center and Yahoothe street demolished from Santa the Clara buildings Gateway. on Ifrom is currently the new 95% 49er's leased. stadium In Phase and II, existing±180,000 186,000 square square-footfeet and two building eight- electricadjacent vehicle to its currentcharging Santa stations. Clara Site feet and construct two high rise that will include two six-story story ±17,000 square foot amenities Class A office buildings, the street from Santa Clara Gateway. from the new 49er's stadium and existing 186,000 square-foot building electric vehicle charging stations. Site the majority of the residential, site, but never began construction. Palo Alto Networks preleased story buildings ±240,000 square feet headquarters. Would be built in two office towers totaling ±1,018,000 buildings totaling ±360,000 square building. Will not build without a theapproximately majority of ±150,000the residential, square feet site,Broke but ground never Q2 began 2014, construction. shell Paloexisting Alto Citrix Networks campus. preleased Completion in builtstory for buildings Apple in±240,000 2013. The square feet isheadquarters. within one block Would of abe Caltrain built in two office towers totaling ±1,018,000 buildings totaling ±360,000 square building. Will not build without a approximately ±150,000 square feet Broke ground Q2 2014, shell existing Citrix campus. Completion in built for Apple in 2013. The is within one block of a Caltrain entertainment, retail, and restaurant The land, with entitlements sold to ±660,000 square feet in two eight- each. Ericsson leased ±412,492 phases, each phase will consist of a square feet. The existing project will feet. Total size of project would be tenant. entertainment,each. The two new retail, buildings and restaurant will join Thecomplete land, withDecember entitlements 2015. sold to ±660,000Q4 2015. Citrixsquare never feet occupiedin two eight- the developereach. Ericsson needed leased to relocate±412,492 an shuttlephases, stop. each Construction phase will consist began of in a square feet. The existing project will feet. Total size of project would be tenant. each. The two new buildings will join complete December 2015. Q4 2015. Citrix never occupied the developer needed to relocate an shuttle stop. Construction began in space. It’s anticipated that Chinese tech company LeEco in June story buildings and a private amenity square feet in two buildings of phase single, ±500,000 square-foot be vacated by Palo Alto Networks in ±688,909 square feet, inclusive of an space.one existing It’s anticipated building and that the Chinese tech company LeEco in June storybuilding, buildings and it andis now a private available amenity for IHOPsquare prior feet to in being two buildings able to construct of phase thesingle, fall ±500,0002014, and square-foot was completed Q4 be vacated by Palo Alto Networks in ±688,909 square feet, inclusive of an one existing building and the building, and it is now available for IHOP prior to being able to construct the fall 2014, and was completed Q4 construction of the first phase will 2016 for a reported $250 Million. In a facility, Aruba has preleased five I, the third building is available and building. Phase I of the project broke 2017. ±18,500 square foot amenities constructiondeveloper will of also the buildfirst phase a new will 6- 2016 for a reported $250 Million. In a facility,sublease. Aruba has preleased five theI, the second third buildingbuilding. is A available new location and 2015.building. Phase I of the project broke 2017. ±18,500 square foot amenities developer will also build a new 6- sublease. the second building. A new location 2015. commence in 2017 and be statement from LeEco, the company floors in one ±240,000 six-story shell complete. Phase II is entitled for ground September 2015. building. ServiceNow has first right of commencelevel parking in structure2017 and on be the site. statement from LeEco, the company floors in one ±240,000 six-story wasshell identified complete. early Phase 2015, II is entitled for ground September 2015. building. ServiceNow has first right of level parking structure on the site. was identified early 2015, completed by 2020. Future phases intends to build the office portion of building. Phase III includes one an additional five six-story buildings. refusal to phase II. completedDeveloper brokeby 2020. ground Future on phases one intends to build the office portion of building. Phase III includes one constructionan additional isfive expected six-story to buildings. begin refusal to phase II. Developer broke ground on one construction is expected to begin consisting of office space, with a mix the campus and house nearly 1,200 ±310,000 square foot building, also Construction to begin on phase II late consistingbuilding, completion of office space, is expected with a mixQ2 the campus and house nearly 1,200 ±310,000 square foot building, also shortlyConstruction after the to begin relocation on phase is II late building, completion is expected Q2 shortly after the relocation is of retail, as well as food and employees at the site. preleased by Palo Alto Networks. 2015 with completion near the end COLLIERS INTERNATIONALof2017. retail, as well NEW as food DEVELOPMENT and PIPELINEemployees at the site. preleased by Palo Alto Networks. complete.2015 with completion near the end 2017. complete. beverage offerings, will be developed Phase I of the project sold to Clarion of 2017. beverage offerings, will be developed Phase I of the project sold to Clarion of 2017. 36 SILICON VALLEY SANTA CLARA JULY 2016 over a period of 10-15 years and Partners December 2015. Phase II & over a period of 10-15 years and Partners December 2015. Phase II & subject to market demand. III are currently under construction, subject to market demand. III are currently under construction, completion is expected Q2 2017. completion is expected Q2 2017. Palo Alto

13 Mountain View

Project Name Santa Clara Square NVidia Campus Campus at Lawson Lane 24Hundred @ Mission Stadium Tech Center Project Name Santa Clara Square NVidia Campus Campus at Lawson Lane 24Hundred @ Mission Stadium Tech Center Related Santa Clara 4850 Old Ironsides Drive 3333 Scott Boulevard 4301 Great America Parkway 3000 Bowers Avenue 4800 Great America Parkway 5409 Stevens CreekProject Boulevard Name Related3303 Scott Santa Boulevard Clara 4850Stadium Old Ironsides Tech Center Drive 3333 Scott Boulevard 4301 Great America Parkway 3000 Bowers Avenue 4800 Great America Parkway 5409 Stevens Creek Boulevard 3303 Scott Boulevard Address Augustine & Bowers San Tomas Exp & Walsh Avenue 2215-2225 Lawson Lane 2400 Mission College Boulevard 5490 Great America Parkway Address Augustine & Bowers San Tomas Exp & Walsh Avenue 2215-2225 Lawson Lane 2400 Mission College Boulevard 5490 Great America Parkway Developer Related Company LeEco Menlo Equities The Irvine Company Nvidia Sobrato Development Sobrato Development Sobrato Development South Bay Development/PCCP Deutsche Asset & Wealth Mgmt. Sobrato Development Peery & Arrillaga DeveloperAddress RelatedToeniskoetter3303 Scott Company Boulevard Real Estate LeEco5490 Great America Pkwy. 4800Menlo Great Equities America Pkwy. 5409The Irvine Stevens Company Creek Boulevard Nvidia Sobrato Development Sobrato Development Sobrato Development South Bay Development/PCCP Deutsche Asset & Wealth Mgmt. Sobrato Development Peery & Arrillaga Toeniskoetter Real Estate Sunnyvale Total Project Size 5,700,000 3,000,000 1,226,500 1,055,000 1,000,000 1,018,000 360,000 331,902 300,000 221,173 170,000 108,000 Total Project Size 5,700,00083,590 3,000,000 1,226,500 1,055,000 1,000,000 Sunnyvale 1,018,000 360,000 331,902 300,000 221,173 170,000 108,000 83,590 Number of Bldgs. 26 13 7 8 2 2 4 2 2 1 1 1 Number of Bldgs. 261 13 7 8 2 2 4 2 2 1 1 1 1 Divisible to TBD TBD 143,200 180,000 483,475 TBD 180,000 165,951 50,000 221,173 170,000 108,000 Divisible to TBD27,036 TBD 143,200 180,000 483,475 TBD 180,000 165,951 50,000 221,173 170,000 108,000 27,036 Acreage 239 48.6 19.9 30.73 25 18.5 16 7.19 8.5 7.21 2.8 5.08 Acreage 2392.5 48.6 19.9 30.73 25 18.5 16 7.19 8.5 7.21 2.8 5.08 2.5 FAR (Coverage) 88% 160% 140% 90% 89% 125% 100% 105% 80% 70% 140% 133% FAR (Coverage) 88%78% 160% 140% 90% 89% 125% 100% 105% 80% 70% 140% 133% 78% # of Floors TBD 6 4 & 6 6 & 8 2 TBD 6 5 6 8 5 6 # of Floors TBD3 6 4 & 6 6 & 8 2 TBD 6 5 6 8 5 6 3 Size of Floors TBD 38,000 35,000-38,483 30,000 240,000 TBD 30,000 34,000 30,000 35,000 34,000 18,000 - 30,000 Size of Floors TBD27,036 38,000 35,000-38,483 30,000 240,000 TBD 30,000 34,000 30,000 35,000 34,000 18,000 - 30,000 27,036 Parking Ratio TBD TBD 3.3 3.3 3.5 TBD 4.0 3.0 3.0 3.3 3.3 3.7 Parking Ratio TBD3.75 TBD 3.3 3.3 3.5 Santa Clara TBD 4.0 3.0 3.0 3.3 3.3 3.7 3.75 Parking Surface & Structured Below ground Surface & Structured Surface & Structured Structured & Underground TBD Surface & Structured Surface & Structured Surface & Structured Surface & Structured Surface & Structured Structured & UndergroundParking SurfaceSurface & Structured Below ground Surface & Structured Surface & Structured Structured & Underground TBD Surface & Structured Surface & Structured Surface & Structured Surface & Structured Surface & Structured Structured & Underground Surface Rental Rate TBD TBD $3.50 NNN $3.50 NNN TBD TBD TBD $3.15 NNN $3.50 NNN $3.75 NNN $3.65 NNN TBD Rental Rate TBD$3.65 NNN TBD $3.50 NNN $3.50 NNN TBD TBD TBD $3.15 NNN $3.50 NNN $3.75 NNN $3.65 NNN TBD $3.65 NNN Shell TBD TBD Warm Warm TBD TBD Warm TBD Warm Warm Warm Warm Shell TBDWarm TBD Warm Warm TBD TBD Warm TBD Warm Warm Warm Warm Warm T.I. Allowance TBD TBD $50.00 $45.00 TBD TBD TBD TBD $50.00 $40.00 $40.00 TBD T.I. Allowance TBDTBD TBD $50.00 $45.00 TBD TBD TBD TBD $50.00 $40.00 $40.00 TBD TBD Project Status Entitled Entitled Under Construction (BTS) Under Construction (SPEC) Under Construction(BTS)/Entitled Seeking Entitlements Entitled Entitled Under Construction (SPEC)/Entitled Shell Complete Shell Complete Entitled Project Status EntitledShell Complete Entitled Under Construction (BTS) Under Construction (SPEC) Under Construction(BTS)/Entitled Seeking Entitlements Entitled Entitled Under Construction (SPEC)/Entitled Shell Complete Shell Complete Entitled Shell Complete

Comments Separated into five parcels that will Yahoo received approval in 2010 to Phase I includes three buildings Construction complete on phase I. Nvidia filed plans for 1 million square Proposal to demolish two existing Phase I fully leased by ServiceNow. Two five-story buildings totaling TI allowance is also TBD but assumed Six-story high profile corporate Preleased by Citrix Q1 2014. Preleased by AppleComments in 2012. This SeparatedNew ±83,000 into square-foot five parcels three-story that will Yahoo received approval in 2010 to Phase I includes three buildings Construction complete on phase I. Nvidia filedSan Jose plans for 1 million square Proposal to demolish two existing Phase I fully leased by ServiceNow. Two five-story buildings totaling TI allowance is also TBD but assumed Six-story high profile corporate Preleased by Citrix Q1 2014. Preleased by Apple in 2012. This New ±83,000 square-foot three-story be developed in phases. The largest build up to 3 million square feet. totaling ±449,658 square feet. Phase Inclusive of one six-story building feet of office space on company land buildings totaling ±350,000 square Entitled for an additional phase II ±300,000 square feet and one two- to be ±$50/sf. Two new six-story headquarters building directly across Development located directly across building is the second phase of an beoffice developed building. in Project phases. will The include largest build up to 3 million square feet. totaling ±449,658 square feet. Phase Inclusive of one six-story building feet of office space on company land buildings totaling ±350,000 square Entitled for an additional phase II ±300,000 square feet and one two- to be ±$50/sf. Two new six-story headquarters building directly across Development located directly across building is the second phase of an office building. Project will include parcel will house the City Center and Yahoo demolished the buildings on I is currently 95% leased. In Phase II, ±180,000 square feet and two eight- adjacent to its current Santa Clara feet and construct two high rise that will include two six-story story ±17,000 square foot amenities Class A office buildings, the street from Santa Clara Gateway. from the new 49er's stadium and existing 186,000 square-foot building parcelelectric will vehicle house charging the City stations.Center and Site Yahoo demolished the buildings on I is currently 95% leased. In Phase II, ±180,000 square feet and two eight- adjacent to its current Santa Clara feet and construct two high rise that will include two six-story story ±17,000 square foot amenities Class A office buildings, the street from Santa Clara Gateway. from the new 49er's stadium and existing 186,000 square-foot building electric vehicle charging stations. Site the majority of the residential, site, but never began construction. Palo Alto Networks preleased story buildings ±240,000 square feet headquarters. Would be built in two office towers totaling ±1,018,000 buildings totaling ±360,000 square building. Will not build without a approximately ±150,000 square feet Broke ground Q2 2014, shell existing Citrix campus. Completion in built for Apple in 2013. The theis within majority one of block the residential,of a Caltrain site, but never began construction. Palo Alto Networks preleased story buildings ±240,000 square feet headquarters. Would be built in two office towers totaling ±1,018,000 buildings totaling ±360,000 square building. Will not build without a approximately ±150,000 square feet Broke ground Q2 2014, shell existing Citrix campus. Completion in built for Apple in 2013. The is within one block of a Caltrain entertainment, retail, and restaurant The land, with entitlements sold to ±660,000 square feet in two eight- each. Ericsson leased ±412,492 phases, each phase will consist of a square feet. The existing project will feet. Total size of project would be tenant. each. The two new buildings will join complete December 2015. Q4 2015. Citrix never occupied the developer needed to relocate an entertainment,shuttle stop. Construction retail, and restaurantbegan in The land, with entitlements sold to ±660,000 square feet in two eight- each. Ericsson leased ±412,492 phases, each phase will consist of a square feet. The existing project will feet. Total size of project would be tenant. each. The two new buildings will join complete December 2015. Q4 2015. Citrix never occupied the developer needed to relocate an shuttle stop. Construction began in space. It’s anticipated that Chinese tech company LeEco in June story buildings and a private amenity square feet in two buildings of phase single, ±500,000 square-foot be vacated by Palo Alto Networks in ±688,909 square feet, inclusive of an one existing building and the building, and it is now available for IHOP prior to being able to construct space.the fall It’s 2014, anticipated and was that completed Q4 Chinese tech company LeEco in June story buildings and a private amenity square feet in two buildings of phase single, ±500,000 square-foot be vacated by Palo Alto Networks in ±688,909 square feet, inclusive of an one existing building and the building, and it is now available for IHOP prior to being able to construct the fall 2014, and was completed Q4 construction of the first phase will 2016 for a reported $250 Million. In a facility, Aruba has preleased five I, the third building is available and building. Phase I of the project broke 2017. ±18,500 square foot amenities developer will also build a new 6- sublease. the second building. A new location construction2015. of the first phase will 2016 for a reported $250 Million. In a facility, Aruba has preleased five I, the third building is available and building. Phase I of the project broke 2017. ±18,500 square foot amenities developer will also build a new 6- sublease. the second building. A new location 2015.

commence in 2017 and be statement from LeEco, the company floors in one ±240,000 six-story shell complete. Phase II is entitled for ground September 2015. building. ServiceNow has first right of level parking structure on the site. was identified early 2015, commence in 2017 and be statement from LeEco, the company floors in one ±240,000 six-story shell complete. Phase II is entitled for ground September Valley West 2015. building. ServiceNow has first right of level parking structure on the site. was identified early 2015, completed by 2020. Future phases intends to build the office portion of building. Phase III includes one an additional five six-story buildings. refusal to phase II. Developer broke ground on one construction is expected to begin completed by 2020. Future phases intends to build the office portion of building. Phase III includes one an additional five six-story buildings. refusal to phase II. Developer broke ground on one construction is expected to begin consisting of office space, with a mix the campus and house nearly 1,200 ±310,000 square foot building, also Construction to begin on phase II late building, completion is expected Q2 shortly after the relocation is consisting of office space, with a mix the campus and house nearly 1,200 ±310,000 square foot building, also Construction to begin on phase II late building, completion is expected Q2 shortly after the relocation is of retail, as well as food and employees at the site. preleased by Palo Alto Networks. 2015 with completion near the end 2017. complete. of retail, as well as food and employees at the site. preleased by Palo Alto Networks. 2015 with completion near the end 2017. complete. beverage offerings, will be developed Phase I of the project sold to Clarion of 2017. beverage offerings, will be developed Phase I of theCOLLIERS project sold INTERNATIONAL to Clarion of NEW 2017. DEVELOPMENT PIPELINE over a period of 10-15 years and Partners December 2015. Phase II & over a period of 10-15 years and Partners December 2015. Phase II & SILICON VALLEY SANTA CLARA JULY 2016 37 subject to market demand. III are currently under construction, subject to market demand. III are currently under construction, completion is expected Q2 2017. completion is expected Q2 2017. Palo Alto Project Developer Total Project Size Project Status 1 1050 Page Mill Road Sand Hill Properties 287,980 Seeking Entitlements 2 University Plaza Sobrato/TMG 214,052 Under Construction (SPEC) 3 Park Plaza Harold Hobach 152,091 Under Construction (SPEC) 4 3251 Hanover Street Sand Hill Properties 115,500 Seeking Entitlements 5 VMware CSG Building Stanford University 100,000 Seeking Entitlements 6 3170 Porter Avenue Stanford University 98,000 Entitled 7 VMware HTG Building Stanford University 86,000 Seeking Entitlements 8 1450 Page Mill Road Stanford University 77,199 Under Construction (SPEC) 9 Mayfield Office Building Minkoff Group 63,746 Under Construction (SPEC) 10 College Terrace PCS Realty Advisors 52,504 Under Construction (BTS) 11 441 Page Mill Road Norm Schwab 35,521 Entitled 12 400 Cambridge Avenue Cambridge Investments LLC 35,000 Seeking Entitlements 13 2755 El Camino Real Jay Paul 33,323 Seeking Entitlements 14 2747 Park Boulevard Pollock Financial Group 33,000 Seeking Entitlements 15 3045 Park Boulevard Jay Paul 29,120 Seeking Entitlements 16 550 High Street Keenan Land Company 28,085 Shell Complete 17 2555 Park Avenue Tarlton Properties, Inc 24,466 Seeking Entitlements 18 636 Waverley Street D2 Realty Services 10,300 Under Construction (BTS) 19 MacArthur Park Arrillaga/Stanford TBD Planning Stages Total Potential Development 1,475,887

San Jose Project Developer Total Project Size Project Status San Jose 1 Green Valley Research Park Coyote Valley Research Park LLC 4,400,000 Entitled 2 Apple Campus II Apple, Inc 4,150,000 Shell Complete/Entitled 3 2890 North First Street Boston Properties 1,560,000 Entitled 4 Coleman Highline Hunter/Storm 1,500,000 Under Construction (SPEC)/Entitled 5 Brokaw @ North First Peery/Arrillaga 1,000,000 Entitled 6 Destination Diridon Trammel Crow/Bentall Kennedy 1,000,000 Entitled 7 Santana West Federal Realty Investment Trust 969,000 Seeking Entitlements 8 The Plaza at Almaden Boston Properties 840,000 Entitled 9 HUB@DTSJ City of San Jose 750,000 Entitled 10 333 West San Fernando Street DiNapoli Company 700,000 Planning Stages 11 The Offices at Santana Row Federal Realty Investment Trust 700,000 Under Construction (SPEC)/Entitled 12 America Center Phase II & III USAA Real Estate Company 684,022 Under Construction(SPEC)/Entitled 13 237 @ First South Bay 614,809 Shell Complete/Entitled 14 Santa Teresa Research Park Sobrato Development 566,000 Seeking Entitlements 15 Innovation Plaza Broadcom Corp. 493,000 Entitled 16 Midpoint @ 237 Gemdale/Lincoln Properties 415,000 Entitled 17 SJSC Towers SJSC Properties LLC 350,000 Seeking Entitlements 18 Rail Yard Place Insight Realty 250,702 Planning Stages 19 @ First Phase II Hunter Storm/Brocade 249,814 Entitled 20 Museum Place Insight Realty 208,241 Entitled 21 Cadence Center Cadence Design 208,000 Planning Stages COLLIERS INTERNATIONAL NEW DEVELOPMENT PIPELINE 22 River Corporate Center Sobrato Development 190,000 Entitled 38 SILICONSILICON VALLEYVALLEY SAN JOSE JULYJULY 20162016 23 eBay Phase II eBay 187,585 Planning Stages Total Potential Development 21,986,173

TASMAN DRIVE

21 15 Mountain View

CENTRAL EXPWY3 Sunnyvale Sunnyvale

2 23

5 SARATOGA AVE SARATOGA

ALUM ROCK AVE Santa Clara

CAMPBELL AVE 4 MONTEREY ROAD San Jose 18 17 9 22 14 6 10 1 20 8

STEVENS CREEK BLVD BAILEY ROAD

7 11 Valley West

COLLIERS INTERNATIONAL NEW DEVELOPMENT PIPELINE SILICON VALLEY SAN JOSE JULY 2016 39 San Jose

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ProjectProject Name Name Green Valley Research ParkPark Apple Campus IIII Coleman HighlineHighline Destination Diridon Santana West The Plaza at Almaden 2890 North First Street Brokaw Road at North First Street AddressAddress Bailey AvenueAvenue atat SantaSanta Teresa Teresa Hwy 101101 and& 87 87 2890 North First Street 1125 Coleman Avenue 374 West Santa Clara Street Olsen Drive and Olin Avenue Alamden@Woz Way Developer Coyote Valley Research Park LLC Apple, Inc Boston Properties Hunter/Storm Peery/Arrillaga Trammel Crow/Bentall Kennedy Federal Realty Investment Trust Boston Properties Total Project Size 4,400,000 4,150,000 1,560,000 1,500,000 1,000,000 1,000,000 969,000 840,000 Number of Bldgs 39 9 7 6 7 4 6 3 Divisible to 200,000 N/ 110,000 130,000 200,000 375,000 115,000 260,000 Acreage 276.9 86 24.3 38 31.1 8.33 11 1.58 FAR (Coverage) 36% 109% 147% 54% 73% 427% 202% 465% # of Floors 3, 4 & 5 13 & 10 2-6 & 11 4 to 15 4 to 6 TBD 3 & 6 9, 11 & 12 Size of Floors TBD 30,000 - 45,000 35,000 - 45,000 31,250 30,000 TBD 30,000 - 38,0000 26,666 Parking Ratio TBD 3.0 2.9 3.1 3.5 TBD 2.6 2.6 Parking Surface & Structured Structured Structured & Underground Surface & Structured Structured Structured Structured Structured Rental Rate $1.79 NNN $2.95 NNN TBD $3.35 NNN TBD TBD TBD $3.50 NNN Shell Warm Warm TBD Warm TBD TBD TBD Warm T.I. Allowance $35.00 $40.00 TBD $55.00 TBD TBD TBD $30.00 Project Status Entitled Shell Complete/Entitled Entitled Under Construction (SPEC)/Entitled Entitled Entitled Seeking Entitlements Entitled Comments Phase I construction drawings Under the newly approved Proposal to construct up to 1.56 Phased development to include six The land is entitled for 2.1 million Expected delivery is Q1 2018. The Plans include four ±180,000 square Two ±260,000 square foot buildings complete and ready to submit to development plan, the campus could million square feet of office space in office buildings, retail and four square feet. Approved by the city in site will include 325 residential units foot buildings. The buildings would and one ±360,000 square foot city. Phase I would include seven consist of 4.15 million square feet. seven buildings and ±110,000 square parking structures. Site work began less than six months. Rumored to and ±1 million square feet of office. be nine-stories, including three- building to be built across the street buildings totaling ±2,282,831 square Apple would have up to 15 years to feet of retail space. The office Summer 2015 on phase I totaling have a tenant in tow for the first 1 stories of above-ground parking. In from the San Jose convention center. feet. add buildings to the site. Although buildings would range from two to ±357,106 square feet in two million square feet. The developer addition to two six-story ±115,000 Six-story parking structure. Build-to- the North San Jose site is mostly six stories, except for one high-rise buildings . Phase II will include two has submitted revised plans for only square foot buildings, inclusive of suit only. empty land, it contains an existing building that would be up to 11 office buildings, retail and two half of the original plan, totaling just three-stories of above-ground ±287,000 square foot office complex stories tall. The project proposes parking structures. Directly adjacent over 1.0 million square feet. parking. The site also includes the and one six-story office building construction in two phases. The first to the Earthquakes soccer stadium Century 21 Dome, which was totaling ±200,700 square feet which phase would develop the western and the San Jose Airport. granted historic in 2015. was shell complete Q1 2016. half of the site and include three office buildings. San Jose Palo Alto

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Project Name Green Valley Research Park Apple Campus II Coleman HighlineProject Project Name Name Green Valley Research Park AppleDestinationDestination Campus Diridon II SantanaSantana West ColemanTheThe Plaza Highline atat AlmadenAlmaden Destination Diridon Santana West The Plaza at Almaden 2890 North First Street Brokaw Road at North First Street 2890 North First Street Brokaw Road at North First Street Address Bailey Avenue at Santa Teresa Hwy 101 and 87 1125 Coleman AvenueAddressAddress BaileyBrokaw Avenue @ North at SantaFirst Teresa Hwy374374 West101W. Santa and Santa 87 Clara Clara Street Street OlsenOlsen Drive andand OlinOlin AvenueAvenue 1125AlmadenAlamden@Woz Coleman Blvd. Avenue & Way Woz Way 374 West Santa Clara Street Olsen Drive and Olin Avenue Alamden@Woz Way Sunnyvale Sunnyvale Developer Coyote Valley Research Park LLC Apple, Inc Boston Properties Hunter/Storm Developer CoyotePeery/Arrillaga Valley Research Park LLC Apple,Trammel Inc Crow/Bentall Kennedy BostonFederal Properties Realty Investment Trust Hunter/StormBoston Properties Peery/Arrillaga Trammel Crow/Bentall Kennedy Federal Realty Investment Trust Boston Properties Total Project Size 4,400,000 4,150,000 1,560,000 1,500,000 Total Project Size 4,400,0001,000,000 4,150,0001,000,000 1,560,000969,000 1,500,000840,000 1,000,000 1,000,000 969,000 840,000 Number of Bldgs 39 9 7 6 Number of Bldgs 397 94 76 63 7 4 6 3 Divisible to 200,000 N/ 110,000 130,000 Divisible to 200,000200,000 N/375,000 110,000115,000 130,000260,000 200,000 375,000 115,000 260,000 Acreage 276.9 86 24.3 38 Acreage 276.931.1 868.33 24.311 381.58 31.1 8.33 11 1.58 FAR (Coverage) 36% 109% 147% 54% FAR (Coverage) 36%73% 109%427% 147%202% 54%465% 73% 427% 202% 465% # of Floors 3, 4 & 5 13 & 10 2-6 & 11 4 to 15 # of Floors 3,4 4to & 6 5 13TBD & 10 2-63 & & 6 11 49, to 11 15 & 12 4 to 6 TBD 3 & 6 9, 11 & 12 Santa Clara Size of Floors TBD 30,000 - 45,000 35,000 - 45,000 31,250 Size of Floors TBD30,000 30,000TBD - 45,000 35,00030,000 - -45,000 38,0000 31,25026,666 30,000 TBD 30,000 - 38,0000 26,666 Parking Ratio TBD 3.0 2.9 3.1 Parking Ratio TBD3.5 3.0TBD 2.92.6 3.12.6 3.5 TBD 2.6 2.6 Parking Surface & Structured Structured Structured & Underground Surface & StructuredParking SurfaceStructured & Structured StructuredStructured StructuredStructured & Underground SurfaceStructured & Structured Structured Structured Structured Structured Rental Rate $1.79 NNN $2.95 NNN TBD $3.35 NNN Rental Rate $1.79TBD NNN $2.95TBD NNN TBDTBD $3.35$3.50 NNN NNN TBD TBD TBD $3.50 NNN Shell Warm Warm TBD Warm Shell WarmTBD WarmTBD TBDTBD WarmWarm TBD TBD TBD Warm T.I. Allowance $35.00 $40.00 TBD $55.00 T.I. Allowance $35.00TBD $40.00TBD TBDTBD $55.00$30.00 TBD TBD TBD $30.00

Project Status Entitled Shell Complete/Entitled Entitled Under ConstructionProject (SPEC)/Entitled Status EntitledEntitled ShellEntitled Complete/Entitled EntitledSeeking Entitlements UnderEntitled Construction (SPEC)/Entitled EntitledSan Jose Entitled Seeking Entitlements Entitled Comments Phase I construction drawings Under the newly approved Proposal to construct up to 1.56 Phased developmentComments to include six PhaseThe land I construction is entitled fordrawings 2.1 million UnderExpected the deliverynewly approved is Q1 2018. The ProposalPlans include to construct four ±180,000 up to 1.56 square PhasedTwo ±260,000 development square to foot include buildings six The land is entitled for 2.1 million Expected delivery is Q1 2018. The Plans include four ±180,000 square Two ±260,000 square foot buildings complete and ready to submit to development plan, the campus could million square feet of office space in office buildings, retail and four completesquare feet. and Approved ready to submitby the cityto in developmentsite will include plan, 325 the residential campus could units millionfoot buildings. square feet The ofbuildings office space would in officeand one buildings, ±360,000 retail square and fourfoot square feet. Approved by the city in site will include 325 residential units foot buildings. The buildings would and one ±360,000 square foot city. Phase I would include seven consist of 4.15 million square feet. seven buildings and ±110,000 square parking structures. Site work began city.less Phasethan six I would months. include Rumored seven to consistand ±1 of million 4.15 million square squarefeet of feet.office. sevenbe nine-stories, buildings and including ±110,000 three- square parkingbuilding structures. to be built Site across work the began street less than six months. Rumored to and ±1 million square feet of office. be nine-stories, including three- building to be built across the street buildings totaling ±2,282,831 square Apple would have up to 15 years to feet of retail space. The office Summer 2015 on phase I totaling buildingshave a tenant totaling in tow±2,282,831 for the firstsquare 1 Apple would have up to 15 years to feetstories of retail of above-ground space. The office parking. In Summerfrom the 2015 San Joseon phase convention I totaling center. have a tenant in tow for the first 1 stories of above-ground parking. In from the San Jose convention center. feet. add buildings to the site. Although buildings would range from two to ±357,106 square feet in two feet.million square feet. The developer add buildings to the site. Although buildingsaddition wouldto two rangesix-story from ±115,000 two to ±357,106Six-story squareparking feet structure. in two Build-to- million square feet. The developer addition to two six-story ±115,000 Six-story parking structure. Build-to- the North San Jose site is mostly six stories, except for one high-rise buildings . Phase II will include two has submitted revised plans for only the North San Jose site is mostly sixsquare stories, foot except buildings, for one inclusive high-rise of buildingssuit only. . Phase II will include two has submitted revised plans for only square foot buildings, inclusive of suit only.

empty land, it contains an existing building that would be up to 11 office buildings, retail and two half of the original plan, totaling just empty land, it contains an existing buildingthree-stories that would of above-ground be up to 11 office buildings, retail and two half of Valley West the original plan, totaling just three-stories of above-ground ±287,000 square foot office complex stories tall. The project proposes parking structures. Directly adjacent over 1.0 million square feet. ±287,000 square foot office complex storiesparking. tall. The The site project also includes proposes the parking structures. Directly adjacent over 1.0 million square feet. parking. The site also includes the and one six-story office building construction in two phases. The first to the Earthquakes soccer stadium and one six-story office building constructionCentury 21 Dome, in two whichphases. was The first to the Earthquakes soccer stadium Century 21 Dome, which was totaling ±200,700 square feet which phase would develop the western and the San Jose Airport. totaling ±200,700 square feet which phasegranted would historic develop in 2015. the western and the San Jose Airport. granted historic in 2015. was shell complete Q1 2016. half of the site and include three was shell complete Q1 2016. half of theCOLLIERS site and includeINTERNATIONAL three NEW DEVELOPMENT PIPELINE office buildings. office buildings. SILICON VALLEY SAN JOSE JULY 2016 41 San Jose

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America Center Phase II & III ProjectProject Name Name HUB@DTSJHUB@DTSJ TheThe Offices Offices at Santana at Santana Row Row America Center Phase II & III Santa Teresa Research Park Innovation Plaza Midpoint @ 237 SJSC Towers Rail Yard Place @ First Phase II Museum Place Cadence Center 333 West San Fernando Street Great America Parkway and 237 @ First AddressAddress 440435 West West Julian Julian Street Street 333 W. San Fernando Street WinchesterWinchester & & Olsen Olsen Drive Drive Great America & Highway 237 Bailey at Santa Teresa 3200 Zanker Road Nortech Pkwy & Disk Drive 4th & Santa Clara 200 Ryland Street 140 Holger Way 180 Park Avenue Montague Expressway Highway 237 Developer City of San Jose DiNapoli Company Federal Realty Investment Trust USAA Real Estate Company South Bay Sobrato Development Broadcom Corp. Gemdale/Lincoln Properties SJSC Properties LLC Insight Realty Hunter Storm/Brocade Insight Realty Cadence Design Total Project Size 750,000 700,000 700,000 684,022 614,809 566,000 493,000 415,000 350,000 250,702 249,814 208,241 208,000 Number of Bldgs 2 TBD 3 3 4 TBD 2 6 1 1 1 1 TBD Divisible to 40,000 TBD 36,000 226,572 153,000 TBD 110,000 83,000 23,000 TBD 249,814 44,301 TBD Acreage 5.4 4.6 5.43 35.3 25.8 TBD 27.53 56.98 1.4 10.55 2.13 TBD 27 FAR (Coverage) 320% TBD TBD 73% 50% TBD 87% 40% 573% 62% 62% TBD 47% # of Floors 7 TBD 6 6 3 to 6 TBD 7 & 9 1, 2 & 4 20 TBD 8 23 (4 floors of office) TBD Size of Floors 40,000 TBD 39,270 35,000 - 37,000 26,000 - 51,000 TBD 31,000 41,500 23,000 TBD 30,664 - 31,455 44,301 - 57,882 TBD Parking Ratio 2.1 TBD 2.9 3.5 3 TBD 3.1 3.0 TBD 3.32 3.74 2.5 TBD Parking Surface & Underground TBD Underground Surface & Structured Surface TBD Surface & Structured Surface & Structured Underground Surface & Structured Surface & Structured Structured & Underground TBD Rental Rate TBD TBD $3.70 NNN $3.45 NNN TBD TBD $3.00 NNN $2.50 NNN TBD TBD $3.25 NNN TBD TBD Shell TBD TBD Warm Warm TBD TBD TBD Cold TBD TBD Warm TBD TBD T.I. Allowance TBD TBD $50.00 $45.00 TBD TBD TBD $15.00 TBD TBD TBD TBD TBD Project Status Entitled Planning Stages Under Construction (SPEC)/Entitled Under Construction(SPEC)/Entitled Shell Complete/Entitled Seeking Entitlements Entitled Entitled Seeking Entitlements Planning Stages Entitled Entitled Planning Stages Comments General Plan would allow to build Proposal to assemble multiple Includes three parcels, Lot 11 for Additional three buildings to join an Phase I construction was complete In planning stages. Build-to-suit Two phase six building project The entire development is inclusive Project would include a 28-story, Project will include ±250,000 square Build-to-suit only, final building to Project will include ±60,000 square Part of a larger owner/user campus. up to ±750,000 square feet under parcels and build up to ±700,000 ±225,000 square feet, Lot 9 for existing two building project. Phase June 2016. Phase I includes one six- only. totaling ±1,037,600 square feet. of ±579,920 square feet of 350-unit condo tower on the feet of office, about 650 apartment join an existing three building feet of expansion space for the Tech the Diridon Station Area Plan. New square feet of office space. ±220,000 square feet, and Lot 17 for II will include two ±228,725 square- story office building totaling ± Phase I includes four buildings that manufacturing space in two to three western side, with a 20-story, units, as well as a retail component. project. Brocade occupies the Museum, ±208,241 square feet of Autumn Street extention to be ±235,000 square feet. Lot 11 is foot buildings. Phase III will include 184,351 square feet. Additional have been completed. One building buildings, and ±415,000 square feet ±350,000 square foot office building existing buildings. "creative" office space, twelve complete by December 2016. currently under construction, one building totaling ±226,572 buildings can be constructed for up is leased to Lockheed Martin of office space in four buildings. The flanking the eastern edge of the stories of condos, and the top three anticipate Q1 2017 delivery. Will square feet and an additional to ±615,000 square feet. A new five- through 2017. The project is entitled manufacturing portion of this parcel as well as ±20,000 square feet stories dedicated for a nationally divide by floor, but would prefer parking structure. Construction on story 150 room Homewood Suites for an additional two buildings. development broke ground late retail. Both would rise up to 295 branded boutique hotel. multi-floor users. Lot 11 was phase II began early 2016, expected hotel at the southern corner of the Broadcom acquired the 27-acre 2015, completion is expected late feet from a shared podium parking preleased by Splunk in August 2015. completion is Q4 2017. Targeting site began construction early 2015. project December 2015 for a 2016. garage, making them among the LEED Gold certification. reported $207 million and is city’s tallest buildings. COLLIERS INTERNATIONAL NEW DEVELOPMENT PIPELINE expected to occupy the three 42 SILICON VALLEY SAN JOSE JULY 2016 existing buildings that were vacant at the time of the sale. Comments Status Project AllowanceT.I. Shell Rate Rental Parking Parking Ratio Size of Floors of# Floors (Coverage) FAR Acreage to Divisible Number of Bldgs SizeTotalProject Developer Address Name Project complete by December 2016.December by complete be to extention Street Autumn Area Plan. New Station Diridon the up to ±750,000 square feet under build to General allow Plan would Entitled TBD TBD TBD Underground Surface& 2.1 40,000 7 320% 5.4 40,000 2 750,000 San Jose of City 440West JulianStreet HUB@DTSJ square feet of office space. office of feet square parcels and build upto ±700,000 assembleProposalmultiple to Stages Planning TBD TBD TBD TBD TBD TBD TBD TBD 4.6 TBD TBD 700,000 Company DiNapoli 333 West SanFernando Street preleased by Splunk in August 2015. August in Splunk by preleased 11 was Lot users. multi-floor prefer would but floor, by divide Will 2017Q1 anticipate delivery. construction, under currently 11is Lot feet. ±235,000 square 17for Lot and feet, ±220,000 square ±225,000 9 for square feet, Lot parcels, 11 for three Lot Includes (SPEC)/Entitled Construction Under $50.00 Warm NNN $3.70 Underground 2.9 39,270 6 TBD 5.43 36,000 3 700,000 Trust FederalRealty Investment Winchester & OlsenDrive OfficesThe Row Santana at LEED Gold certification. Gold LEED Targeting 2017. Q4 is completion beganearly 2016, II phase expected parking structure. Construction on square feet and an additional ±226,572 totaling building one include will PhaseIII buildings. foot ±228,725two include squarewill II Phase project. building existing two an join to buildings three Additional Construction(SPEC)/Entitled Under $45.00 Warm NNN $3.45 Structured Surface& 3.5 35,00037,000 - 6 73% 35.3 226,572 3 684,022 RealCompany USAA Estate 237 Highway Great America Parkway and America Center Phase & II III Comments Status Project AllowanceT.I. Shell Rate Rental Parking Parking Ratio Size of Floors of# Floors (Coverage) FAR Acreage to Divisible Number of Bldgs SizeTotalProject Developer Address Name Project Address Project Name complete by December 2016.December by complete be to extention Street Autumn Area Plan. New Station Diridon the up to ±750,000 square feet under build to General allow Plan would Entitled TBD TBD TBD Underground Surface& 2.1 40,000 7 320% 5.4 40,000 2 750,000 San Jose of City 440West JulianStreet HUB@DTSJ site began construction early 2015. early construction began site hotelat thesouthern corner ofthe story 150 room Homewood Suites five- ±615,000to A new square feet. up for constructed can be buildings Additional feet. 184,351 square ± totaling building office story six- one 2016. PhaseJune includes I was complete Phase construction I Complete/Entitled Shell TBD TBD TBD Surface 3 26,00051,000 - 3 to6 50% 25.8 153,000 4 614,809 South Bay 237 @ First 237 @First 13 square feet of office space. office of feet square parcels and build upto ±700,000 assembleProposalmultiple to Stages Planning TBD TBD TBD TBD TBD TBD TBD TBD 4.6 TBD TBD 700,000 Company DiNapoli 333 West SanFernando Street only. planningIn stages. Build-to-suit Entitlements Seeking TBD TBD TBD TBD TBD TBD TBD TBD TBD TBD TBD 566,000 Development Sobrato Teresa Santa Bailey at Santa Teresa ResearchPark Bailey atSantaTeresa Santa Teresa Research Park 14 preleased by Splunk in August 2015. August in Splunk by preleased 11 was Lot users. multi-floor prefer would but floor, by divide Will 2017Q1 anticipate delivery. construction, under currently 11is Lot feet. ±235,000 square 17for Lot and feet, ±220,000 square ±225,000 9 for square feet, Lot parcels, 11 for three Lot Includes (SPEC)/Entitled Construction Under $50.00 Warm NNN $3.70 Underground 2.9 39,270 6 TBD 5.43 36,000 3 700,000 Trust FederalRealty Investment Winchester & OlsenDrive OfficesThe Row Santana at 3200 Zanker Road Innovation Plaza at the time of the sale. vacant were that buildings existing three the occupy to expected is and $207million reported 2015 a December for project 27-acre the acquired Broadcom buildings. two anfor additional through 2017. Theproject is entitled Martin Lockheed is leased to havebeen completed. Onebuilding that buildings four Phase includes I feet. ±1,037,600 square totaling phaseTwo six building project Entitled TBD TBD NNN $3.00 Structured Surface& 3.1 31,000 9 7 & 87% 27.53 110,000 2 493,000 Corp. Broadcom Road 3200 Zanker Innovation Plaza 15

San Jose LEED Gold certification. Gold LEED Targeting 2017. Q4 is completion beganearly 2016, II phase expected parking structure. Construction on square feet and an additional ±226,572 totaling building one include will PhaseIII buildings. foot ±228,725two include squarewill II Phase project. building existing two an join to buildings three Additional Construction(SPEC)/Entitled Under $45.00 Warm NNN $3.45 Structured Surface& 3.5 35,00037,000 - 6 73% 35.3 226,572 3 684,022 RealCompany USAA Estate 237 Highway Great America Parkway and America Center Phase & II III 2016. late is expected 2015, completion development brokeground late manufacturing portion ofthis The buildings. four space in office of buildings, and ±415,000 square feet manufacturing spacein tothree two ±579,920 of of square feet is inclusive development entire The Entitled $15.00 Cold NNN $2.50 Structured Surface& 3.0 41,500 4 1, 2& 40% 56.98 83,000 6 415,000 Properties Gemdale/Lincoln Disk & Drive Pkwy Nortech Midpoint @ 237 Nortech Parkway &DiskDrive Midpoint @237 16 site began construction early 2015. early construction began site hotelat thesouthern corner ofthe story 150 room Homewood Suites five- ±615,000to A new square feet. up for constructed can be buildings Additional feet. 184,351 square ± totaling building office story six- one 2016. PhaseJune includes I was complete Phase construction I Complete/Entitled Shell TBD TBD TBD Surface 3 26,00051,000 - 3 to6 50% 25.8 153,000 4 614,809 South Bay 237 @ First city’s tallest buildings. the among them garage, making parking a podium shared from feet 295 to riseup would Both retail. parcel as as well ±20,000 square feet the of eastern edge the flanking ±350,000building office square foot a 20-story, side, with western the on tower condo 350-unit a 28-story, include Project would Entitlements Seeking TBD TBD TBD Underground TBD 23,000 20 573% 1.4 23,000 1 350,000 LLC SJSC Properties 4th & SantaClara Towers SJSC

West Valley San Jose Santa Clara Sunnyvale Mountain View Palo Alto only. planningIn stages. Build-to-suit Entitlements Seeking TBD TBD TBD TBD TBD TBD TBD TBD TBD TBD TBD 566,000 Development Sobrato Teresa Santa Bailey at Santa Teresa ResearchPark units, asunits, as well a retailcomponent. 650 apartment office, about of feet ±250,000 include Project square will Stages Planning TBD TBD TBD Structured Surface& 3.32 TBD TBD 62% 10.55 TBD 1 250,702 Realty Insight Street 200 Ryland Rail YardPlace at the time of the sale. vacant were that buildings existing three the occupy to expected is and $207million reported 2015 a December for project 27-acre the acquired Broadcom buildings. two anfor additional through 2017. Theproject is entitled Martin Lockheed is leased to havebeen completed. Onebuilding that buildings four Phase includes I feet. ±1,037,600 square totaling phaseTwo six building project Entitled TBD TBD NNN $3.00 Structured Surface& 3.1 31,000 9 7 & 87% 27.53 110,000 2 493,000 Corp. Broadcom Road 3200 Zanker Innovation Plaza existing buildings. the Brocadeoccupies project. building an existingjoin three to finalbuilding only, Build-to-suit Entitled TBD Warm NNN $3.25 Structured Surface& 3.74 30,66431,455 - 8 62% 2.13 249,814 1 249,814 Storm/Brocade Hunter 140 Holger Way @ First Phase II 2016. late is expected 2015, completion development brokeground late manufacturing portion ofthis The buildings. four space in office of buildings, and ±415,000 square feet manufacturing spacein tothree two ±579,920 of of square feet is inclusive development entire The Entitled $15.00 Cold NNN $2.50 Structured Surface& 3.0 41,500 4 1, 2& 40% 56.98 83,000 6 415,000 Properties Gemdale/Lincoln Disk & Drive Pkwy Nortech Midpoint @ 237 branded boutiquehotel. a for nationally dedicated stories three top the and condos, of stories "creative" space, office twelve Museum, ±208,241 of square feet Tech spacethe for expansion of feet ±60,000 include square Project will Entitled TBD TBD TBD Underground & Structured 2.5 44,30157,882 - office) 23 of (4 floors TBD TBD 44,301 1 208,241 Realty Insight Avenue 180 Park Museum Place city’s tallest buildings. the among them garage, making parking a podium shared from feet 295 to riseup would Both retail. parcel as as well ±20,000 square feet the of eastern edge the flanking ±350,000building office square foot a 20-story, side, with western the on tower condo 350-unit a 28-story, include Project would Entitlements Seeking TBD TBD TBD Underground TBD 23,000 20 573% 1.4 23,000 1 350,000 LLC SJSC Properties 4th & SantaClara Towers SJSC Parta campus. of larger owner/user Stages Planning TBD TBD TBD TBD TBD TBD TBD 47% 27 TBD TBD 208,000 Design Cadence ExpresswayMontague Center Cadence units, asunits, as well a retailcomponent. 650 apartment office, about of feet ±250,000 include Project square will Stages Planning TBD TBD TBD Structured Surface& 3.32 TBD TBD 62% 10.55 TBD 1 250,702 Realty Insight Street 200 Ryland Rail YardPlace existing buildings. the Brocadeoccupies project. building an existingjoin three to finalbuilding only, Build-to-suit Entitled TBD Warm NNN $3.25 Structured Surface& 3.74 30,66431,455 - 8 62% 2.13 249,814 1 249,814 Storm/Brocade Hunter 140 Holger Way @ First Phase II branded boutiquehotel. a for nationally dedicated stories three top the and condos, of stories "creative" space, office twelve Museum, ±208,241 of square feet Tech spacethe for expansion of feet ±60,000 include square Project will Entitled TBD TBD TBD Underground & Structured 2.5 44,30157,882 - office) 23 of (4 floors TBD TBD 44,301 1 208,241 Realty Insight Avenue 180 Park Museum Place Parta campus. of larger owner/user Stages Planning TBD TBD TBD TBD TBD TBD TBD 47% 27 TBD TBD 208,000 Design Cadence ExpresswayMontague Center Cadence San Jose

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America Center Phase II & III America Center Phase II & III Project Name HUB@DTSJ The Offices at Santana Row Santa Teresa Research Park Innovation Plaza Midpoint @ 237 ProjectProject Name Name HUB@DTSJSJSC Towers Towers Rail YardYard Place The@ First Offices Phase Phase at IISantana || Row Museum PlacePlace Cadence Center Santa Teresa Research Park Innovation Plaza Midpoint @ 237 SJSC Towers Rail Yard Place @ First Phase II Museum Place Cadence Center 333 West San Fernando Street Great America Parkway and 237 @ First 333 West San Fernando Street Great America Parkway and 237 @ First Address 440 West Julian Street Winchester & Olsen Drive Bailey at Santa Teresa 3200 Zanker Road Nortech Pkwy & DiskAddressAddress Drive 4404th &West& Santa Santa Julian Clara Clara Street 200 Ryland Ryland Street Street Winchester140 HolgerHolger Way &Way Olsen Drive 180 ParkPark Avenue Avenue Montague Expressway Bailey at Santa Teresa 3200 Zanker Road Nortech Pkwy & Disk Drive 4th & Santa Clara 200 Ryland Street 140 Holger Way 180 Park Avenue Montague Expressway Highway 237 Highway 237 Developer City of San Jose DiNapoli Company Federal Realty Investment Trust USAA Real Estate Company South Bay Sobrato Development Broadcom Corp. Gemdale/Lincoln PropertiesDeveloper CitySJSC ofProperties San Jose LLC DiNapoliInsight Realty Company FederalHunter Storm/BrocadeRealty Investment Trust USAAInsight Real Realty Estate Company SouthCadence Bay Design Sobrato Development Broadcom Corp. Gemdale/Lincoln Properties SJSC Properties LLC Insight Realty Hunter Storm/Brocade Insight Realty Cadence Design Total Project Size 750,000 700,000 700,000 684,022 614,809 566,000 493,000 415,000 Total Project Size 750,000350,000 700,000250,702 700,000249,814 684,022208,241 614,809208,000 566,000 493,000 415,000 350,000 250,702 249,814 208,241 208,000 Number of Bldgs 2 TBD 3 3 4 TBD 2 6 Number of Bldgs 21 TBD1 31 31 4TBD TBD 2 6 1 1 1 1 TBD Divisible to 40,000 TBD 36,000 226,572 153,000 TBD 110,000 83,000 Divisible to 40,00023,000 TBD 36,000249,814 226,57244,301 153,000TBD TBD 110,000 83,000 23,000 TBD 249,814 44,301 TBD Acreage 5.4 4.6 5.43 35.3 25.8 TBD 27.53 56.98 Acreage 5.41.4 4.610.55 5.432.13 35.3TBD 25.827 TBD 27.53 56.98 1.4 10.55 2.13 TBD 27 FAR (Coverage) 320% TBD TBD 73% 50% TBD 87% 40% FAR (Coverage) 320%573% TBD62% TBD62% 73%TBD 50%47% TBD 87% 40% 573% 62% 62% TBD 47% # of Floors 7 TBD 6 6 3 to 6 TBD 7 & 9 1, 2 & 4 # of Floors 720 TBD 68 623 (4 floors of office) 3TBD to 6 TBD 7 & 9 1, 2 & 4 20 TBD 8 23 (4 floors of office) TBD Size of Floors 40,000 TBD 39,270 35,000 - 37,000 26,000 - 51,000 TBD 31,000 41,500 Size of Floors 40,00023,000 TBD 39,27030,664 - 31,455 35,00044,301 - 37,00057,882 26,000TBD - 51,000 TBD 31,000 41,500 23,000 TBD 30,664 - 31,455 44,301 - 57,882 TBD Parking Ratio 2.1 TBD 2.9 3.5 3 TBD 3.1 3.0 Parking Ratio 2.1TBD TBD3.32 2.93.74 3.52.5 3TBD TBD 3.1 3.0 TBD 3.32 3.74 2.5 TBD Parking Surface & Underground TBD Underground Surface & Structured Surface TBD Surface & Structured Surface & StructuredParking SurfaceUnderground & Underground TBDSurface & Structured UndergroundSurface & Structured SurfaceStructured & Structured & Underground SurfaceTBD TBD Surface & Structured Surface & Structured Underground Surface & Structured Surface & Structured Structured & Underground TBD Rental Rate TBD TBD $3.70 NNN $3.45 NNN TBD TBD $3.00 NNN $2.50 NNN Rental Rate TBD TBD $3.70$3.25 NNN $3.45TBD NNN TBD TBD $3.00 NNN $2.50 NNN TBD TBD $3.25 NNN TBD TBD Shell TBD TBD Warm Warm TBD TBD TBD Cold Shell TBD TBD Warm WarmTBD TBD TBD TBD Cold TBD TBD Warm TBD TBD T.I. Allowance TBD TBD $50.00 $45.00 TBD TBD TBD $15.00 T.I. Allowance TBD TBD $50.00TBD $45.00TBD TBD TBD TBD $15.00 TBD TBD TBD TBD TBD Project Status Entitled Planning Stages Under Construction (SPEC)/Entitled Under Construction(SPEC)/Entitled Shell Complete/Entitled Seeking Entitlements Entitled Entitled Project Status EntitledSeeking Entitlements Planning Stages UnderEntitled Construction (SPEC)/Entitled UnderEntitled Construction(SPEC)/Entitled ShellPlanning Complete/Entitled Stages Seeking Entitlements Entitled Entitled Seeking Entitlements Planning Stages Entitled Entitled Planning Stages Comments General Plan would allow to build Proposal to assemble multiple Includes three parcels, Lot 11 for Additional three buildings to join an Phase I construction was complete In planning stages. Build-to-suit Two phase six building project The entire developmentComments is inclusive GeneralProject would Plan would include allow a 28-story, to build ProposalProject will to includeassemble ±250,000 multiple square IncludesBuild-to-suit three only, parcels, final Lotbuilding 11 for to AdditionalProject will three include buildings ±60,000 to square join an PhasePart of I aconstruction larger owner/user was complete campus. In planning stages. Build-to-suit Two phase six building project The entire development is inclusive Project would include a 28-story, Project will include ±250,000 square Build-to-suit only, final building to Project will include ±60,000 square Part of a larger owner/user campus. up to ±750,000 square feet under parcels and build up to ±700,000 ±225,000 square feet, Lot 9 for existing two building project. Phase June 2016. Phase I includes one six- only. totaling ±1,037,600 square feet. of ±579,920 square feet of up350-unit to ±750,000 condo squaretower onfeet the under parcelsfeet of office,and build about up 650to ±700,000 apartment ±225,000join an existing square three feet, building Lot 9 for existingfeet of expansion two building space project. for the Phase Tech June 2016. Phase I includes one six- only. totaling ±1,037,600 square feet. of ±579,920 square feet of 350-unit condo tower on the feet of office, about 650 apartment join an existing three building feet of expansion space for the Tech the Diridon Station Area Plan. New square feet of office space. ±220,000 square feet, and Lot 17 for II will include two ±228,725 square- story office building totaling ± Phase I includes four buildings that manufacturing space in two to three thewestern Diridon side, Station with a Area 20-story, Plan. New squareunits, as feet well of as office a retail space. component. ±220,000project. Brocade square feet,occupies and theLot 17 for IIMuseum, will include ±208,241 two ±228,725 square feet square- of story office building totaling ± Phase I includes four buildings that manufacturing space in two to three western side, with a 20-story, units, as well as a retail component. project. Brocade occupies the Museum, ±208,241 square feet of Autumn Street extention to be ±235,000 square feet. Lot 11 is foot buildings. Phase III will include 184,351 square feet. Additional have been completed. One building buildings, and ±415,000 square feet Autumn±350,000 Street square extention foot office to buildingbe ±235,000existing buildings. square feet. Lot 11 is foot"creative" buildings. office Phase space, III twelvewill include 184,351 square feet. Additional have been completed. One building buildings, and ±415,000 square feet ±350,000 square foot office building existing buildings. "creative" office space, twelve complete by December 2016. currently under construction, one building totaling ±226,572 buildings can be constructed for up is leased to Lockheed Martin of office space in four buildings. The completeflanking the by eastern December edge 2016. of the currently under construction, onestories building of condos, totaling and ±226,572 the top three buildings can be constructed for up is leased to Lockheed Martin of office space in four buildings. The flanking the eastern edge of the stories of condos, and the top three anticipate Q1 2017 delivery. Will square feet and an additional to ±615,000 square feet. A new five- through 2017. The project is entitled manufacturing portion of this parcel as well as ±20,000 square feet anticipate Q1 2017 delivery. Will squarestories dedicatedfeet and an for additional a nationally to ±615,000 square feet. A new five- through 2017. The project is entitled manufacturing portion of this parcel as well as ±20,000 square feet stories dedicated for a nationally divide by floor, but would prefer parking structure. Construction on story 150 room Homewood Suites for an additional two buildings. development broke ground late retail. Both would rise up to 295 divide by floor, but would prefer parkingbranded structure. boutique Constructionhotel. on story 150 room Homewood Suites for an additional two buildings. development broke ground late retail. Both would rise up to 295 branded boutique hotel. multi-floor users. Lot 11 was phase II began early 2016, expected hotel at the southern corner of the Broadcom acquired the 27-acre 2015, completion is expected late feet from a shared podium parking multi-floor users. Lot 11 was phase II began early 2016, expected hotel at the southern corner of the Broadcom acquired the 27-acre 2015, completion is expected late feet from a shared podium parking preleased by Splunk in August 2015. completion is Q4 2017. Targeting site began construction early 2015. project December 2015 for a 2016. garage, making them among the preleased by Splunk in August 2015. completion is Q4 2017. Targeting site began construction early 2015. project December 2015 for a 2016. garage, making them among the LEED Gold certification. reported $207 million and is city’s tallest buildings. LEED Gold certification. reported $207 million and is city’s tallest buildings. expected to occupy the three COLLIERS INTERNATIONAL NEW DEVELOPMENT PIPELINE expected to occupy the three existing buildings that were vacant 44 SILICON VALLEY SAN JOSE JULY 2016 existing buildings that were vacant at the time of the sale. at the time of the sale. San Jose Palo Alto

21 22 23 Mountain View

America Center Phase II & III America Center Phase II & III Project Name The Offices at Santana Row Santa Teresa Research Park Innovation Plaza Midpoint @ 237 SJSC Towers Rail Yard Place @ First Phase II Museum Place ProjectProject Name Name HUB@DTSJCadenceCadence Center Center RiverRiver Corporate Corporate Center Center TheeBayeBay Offices Phase Phase at II Santana II Row Santa Teresa Research Park Innovation Plaza Midpoint @ 237 SJSC Towers Rail Yard Place @ First Phase II Museum Place Cadence Center Great America Parkway and 237 @ First 333 West San Fernando Street Great America Parkway and 237 @ First Address Winchester & Olsen Drive Bailey at Santa Teresa 3200 Zanker Road Nortech Pkwy & Disk Drive 4th & Santa Clara 200 Ryland Street 140 Holger Way 180 Park Avenue AddressAddress 440Montague West Julian Expressway Street 353 West Julian Street WinchesterNorth First Street& Olsen Drive Bailey at Santa Teresa 3200 Zanker Road Nortech Pkwy & Disk Drive 4th & Santa Clara 200 Ryland Street 140 Holger Way 180 Park Avenue Montague Expressway Highway 237 Montague Expressway 353 West Julian Street North First Street Highway 237 Sunnyvale Sunnyvale Developer edeal ealty nestent ust eal state any ut ay bat eelent adc . edaleincln eties eties nsigt ealty unte tcade nsigt ealty Developer Cityadence of San esign Jose DiNapolibat eelentCompany Federaleay Realty Investment Trust USAA Real Estate Company South Bay Sobrato Development Broadcom Corp. Gemdale/Lincoln Properties SJSC Properties LLC Insight Realty Hunter Storm/Brocade Insight Realty Cadence Design Total Project Size Total Project Size 750,000 700,000 700,000 684,022 614,809 566,000 493,000 415,000 350,000 250,702 249,814 208,241 208,000 Number of Bldgs Number of Bldgs 2 TBD 3 3 4 TBD 2 6 1 1 1 1 TBD Divisible to Divisible to 40,000 TBD 36,000 226,572 153,000 TBD 110,000 83,000 23,000 TBD 249,814 44,301 TBD Acreage . . . . . . . . Acreage 5.4 4.6. 5.43 35.3 25.8 TBD 27.53 56.98 1.4 10.55 2.13 TBD 27 FAR (Coverage) FAR (Coverage) 320% TBD TBD 73% 50% TBD 87% 40% 573% 62% 62% TBD 47% # of Floors t ls ice

# of Floors 7 TBD 6 6 3 to 6 Santa Clara TBD 7 & 9 1, 2 & 4 20 TBD 8 23 (4 floors of office) TBD Size of Floors Size of Floors 40,000 TBD 39,270 35,000 - 37,000 26,000 - 51,000 TBD 31,000 41,500 23,000 TBD 30,664 - 31,455 44,301 - 57,882 TBD Parking Ratio . . . . . . . Parking Ratio 2.1 TBD. 2.9 3.5 3 TBD 3.1 3.0 TBD 3.32 3.74 2.5 TBD Parking ndegund uace tuctued uace uace tuctued uace tuctued ndegund uace tuctued uace tuctued tuctued ndegundParking Surface & Underground TBDuace tuctued Underground Surface & Structured Surface TBD Surface & Structured Surface & Structured Underground Surface & Structured Surface & Structured Structured & Underground TBD Rental Rate . . . . . Rental Rate TBD TBD. $3.70 NNN $3.45 NNN TBD TBD $3.00 NNN $2.50 NNN TBD TBD $3.25 NNN TBD TBD Shell a a ld a Shell TBD TBDa Warm Warm TBD TBD TBD Cold TBD TBD Warm TBD TBD T.I. Allowance . . . T.I. Allowance TBD TBD. $50.00 $45.00 TBD TBD TBD $15.00 TBD TBD TBD TBD TBD Project Status nde nstuctin ntitled nde nstuctinntitled ell letentitled eeing ntitleents ntitled ntitled eeing ntitleents lanning tages ntitled ntitled Project Status Entitledlanning tages Planningntitled Stages Underlanning Construction tages (SPEC)/Entitled Under Construction(SPEC)/Entitled Shell Complete/EntitledSan Jose Seeking Entitlements Entitled Entitled Seeking Entitlements Planning Stages Entitled Entitled Planning Stages Comments ncludes tee acels t dditinal tee buildings t in an ase cnstuctin as clete n lanning stages. uildtsuit ase si building ect e entie deelent is inclusie ect uld include a sty ect ill include suae uildtsuit nly inal building t ect ill includeComments suae Generalat a Plan lage would neuse allow to caus. build Proposalued to t assemble build . multiple Includestential three t eand parcels, an Loteisting 11 for Additional three buildings to join an Phase I construction was complete In planning stages. Build-to-suit Two phase six building project The entire development is inclusive Project would include a 28-story, Project will include ±250,000 square Build-to-suit only, final building to Project will include ±60,000 square Part of a larger owner/user campus. suae eet t eisting t building ect. ase une . ase includes ne si nly. ttaling suae eet. suae eet unit cnd te n te eet ice abut aatent in an eisting tee building eet eansin sace te ec up to ±750,000 square feet under parcelsbuildings and in buildase up ae to ±700,000u and ±225,000neuse square caus feet, tat Lot is9 forinclusie existing two building project. Phase June 2016. Phase I includes one six- only. totaling ±1,037,600 square feet. of ±579,920 square feet of 350-unit condo tower on the feet of office, about 650 apartment join an existing three building feet of expansion space for the Tech suae eet and t ill include t suae sty ice building ttaling ase includes u buildings tat anuactuing sace in t t tee esten side it a sty units as ell as a etail cnent. ect. cade ccuies te useu suae eet the Diridon Station Area Plan. New squareleased. feet isting of office tenant space. as te igt ±220,000 si buildings square ttaling feet, and Lot 17 for II will include two ±228,725 square- story office building totaling ± Phase I includes four buildings that manufacturing space in two to three western side, with a 20-story, units, as well as a retail component. project. Brocade occupies the Museum, ±208,241 square feet of suae eet. t is t buildings. ase ill include suae eet. dditinal ae been cleted. ne building buildings and suae eet suae t ice building eisting buildings. ceatie ice sace tele Autumn Street extention to be ist e n te lanned ±235,000suae eet. square feet. Lot 11 is foot buildings. Phase III will include 184,351 square feet. Additional have been completed. One building buildings, and ±415,000 square feet ±350,000 square foot office building existing buildings. "creative" office space, twelve cuently unde cnstuctin ne building ttaling buildings can be cnstucted u is leased t ceed atin ice sace in u buildings. e laning te easten edge te sties cnds and te t tee complete by December 2016. suaet building. currently under construction, one building totaling ±226,572 buildings can be constructed for up is leased to Lockheed Martin of office space in four buildings. The flanking the eastern edge of the stories of condos, and the top three anticiate deliey. ill suae eet and an additinal t suae eet. ne ie tug . e ect is entitled anuactuing tin tis acel as ell as suae eet sties dedicated a natinally anticipate Q1 2017 delivery. Will square feet and an additional to ±615,000 square feet. A new five- through 2017. The project is entitled manufacturing portion of this parcel as well as ±20,000 square feet stories dedicated for a nationally diide by l but uld ee aing stuctue. nstuctin n sty ed uites an additinal t buildings. deelent be gund late etail. t uld ise u t banded butiue tel. divide by floor, but would prefer parking structure. Construction on story 150 room Valley West Homewood Suites for an additional two buildings. development broke ground late retail. Both would rise up to 295 branded boutique hotel. ultil uses. t as ase began ealy eected tel at te suten cne te adc acuied te ace cletin is eected late eet a saed diu aing multi-floor users. Lot 11 was phase II began early 2016, expected hotel at the southern corner of the Broadcom acquired the 27-acre 2015, completion is expected late feet from a shared podium parking eleased by lun in ugust . cletin is . ageting site began cnstuctin ealy . ect ecebe a . gaage aing te ang te preleased by Splunk in August 2015. completion is Q4 2017. Targeting site began construction early 2015. project December 2015 for a 2016. garage, making them among the ld cetiicatin. eted illin and is city’s tallest buildings. LEED Gold certification. reported $207 million and is city’s tallest buildings. eected t ccuy te tee COLLIERS INTERNATIONAL NEW DEVELOPMENT PIPELINE expected to occupy the three eisting buildings tat ee acant SILICON VALLEY SAN JOSE JULY 2016 45 existing buildings that were vacant at te tie te sale. at the time of the sale. Palo Alto Project Developer Total Project Size Project Status 1 1050 Page Mill Road Sand Hill Properties 287,980 Seeking Entitlements 2 University Plaza Sobrato/TMG 214,052 Under Construction (SPEC) 3 Park Plaza Harold Hobach 152,091 Under Construction (SPEC) 4 3251 Hanover Street Sand Hill Properties 115,500 Seeking Entitlements 5 VMware CSG Building Stanford University 100,000 Seeking Entitlements 6 3170 Porter Avenue Stanford University 98,000 Entitled 7 VMware HTG Building Stanford University 86,000 Seeking Entitlements 8 1450 Page Mill Road Stanford University 77,199 Under Construction (SPEC) 9 Mayfield Office Building Minkoff Group 63,746 Under Construction (SPEC) 10 College Terrace PCS Realty Advisors 52,504 Under Construction (BTS) 11 441 Page Mill Road Norm Schwab 35,521 Entitled 12 400 Cambridge Avenue Cambridge Investments LLC 35,000 Seeking Entitlements 13 2755 El Camino Real Jay Paul 33,323 Seeking Entitlements 14 2747 Park Boulevard Pollock Financial Group 33,000 Seeking Entitlements 15 3045 Park Boulevard Jay Paul 29,120 Seeking Entitlements 16 550 High Street Keenan Land Company 28,085 Shell Complete 17 2555 Park Avenue Tarlton Properties, Inc 24,466 Seeking Entitlements 18 636 Waverley Street D2 Realty Services 10,300 Under Construction (BTS) 19 MacArthur Park Arrillaga/Stanford TBD Planning Stages Total Potential Development 1,475,887

San Jose Project Developer Total Project Size Project Status 1 Green Valley Research Park Coyote Valley Research Park LLC 4,400,000 Entitled 2 Apple Campus II Apple, Inc 4,150,000 Shell Complete/Entitled 3 2890 North First Street Boston Properties 1,560,000 Entitled 4 Coleman Highline Hunter/Storm 1,500,000 Under Construction (SPEC)/Entitled 5 Brokaw @ North First Peery/Arrillaga 1,000,000 Entitled 6 Destination Diridon Trammel Crow/Bentall Kennedy 1,000,000 Entitled 7 Santana West Federal Realty Investment Trust 969,000 Seeking Entitlements 8 The Plaza at Almaden Boston Properties 840,000 Entitled 9 HUB@DTSJ City of San Jose 750,000 Entitled 10 333 West San Fernando Street DiNapoli Company 700,000 Planning Stages 11 The Offices at Santana Row Federal Realty Investment Trust 700,000 Under Construction (SPEC)/Entitled 12 America Center Phase II & III USAA Real Estate Company 684,022 Under Construction(SPEC)/Entitled 13 237 @ First South Bay 614,809 Shell Complete/Entitled 14 Santa Teresa Research Park Sobrato Development 566,000 Seeking Entitlements 15 Innovation Plaza Broadcom Corp. 493,000 Entitled 16 Midpoint @ 237 Gemdale/Lincoln Properties 415,000 Entitled 17 SJSC Towers SJSC Properties LLC 350,000 Seeking Entitlements West Valley 18 Rail Yard Place Insight Realty 250,702 Planning Stages 19 @ First Phase II Hunter Storm/Brocade 249,814 Entitled 20 Museum Place Insight Realty 208,241 Entitled 21 Cadence Center Cadence Design 208,000 Planning Stages 22 River Corporate Center Sobrato Development 190,000 Entitled 23 eBay Phase II eBay 187,585 Planning Stages Total Potential Development 21,986,173

Silicon Valley Development Summary Total Square Footage Shell Complete 2,732,348 Under Construction (SPEC) 3,151,045 Under Construction (BTS) 6,648,294 COLLIERS INTERNATIONAL NEW DEVELOPMENT PIPELINE Entitled 34,003,053 46 SILICON SILICON VALLEY VALLEY WESTWEST VALLEY THIRDJULY QTR 2016 2014 Seeking Entitlements 12,108,709 Planning Stages 2,146,287 Total Potential Development 60,789,736 Palo Alto

STEVENS CREEK BLVD 4 Mountain View

MONTEREY ROAD

Sunnyvale Sunnyvale

SARATOGA AVE HAMILTON AVE 5

CAMPBELL AVE 6 Santa Clara

HILLSDALE AVE San Jose

2 BLOSSOM HILL West Valley West West Valley West

COLLIERSCOLLIERSCOLLIERS INTERNATIONAL INTERNATIONAL INTERNATIONAL NEW NEW NEW DEVELOPMENT DEVELOPMENT DEVELOPMENT PIPELINE PIPELINE PIPELINE CUPERTINO, CAMPBELL, SILICON VALLEY CUPERTINO, CAMPBELL, MAR 2014 SILICON SILICON VALLEY VALLEY WESTLOS VALLEYGATOS JULYMAR 2016 2014 474747 LOS GATOS BLVD LOS GATOS West Valley

1 2 3 4

Apple Spaceship North 40 The Grove Cupertino City Center Creekside @ 17 The Pruneyard Project Name Apple Spaceship North 40 Cupertino City Center Project Name Pruneridge/Tantau Hwy 85 & Hwy 17 14600The Grove Winchester Blvd & 90 Albright 20475 Stevens Creek Blvd. 655 Creekside Way 1901-1999 Bascom Avenue Address Address Pruneridge/TantauCupertino Hwy.Los Gatos 85 & Hwy.17 Los1-4 GatosAlbright Way 20475Cupertino Stevens Creek Blvd. Campbell Campbell Cupertino Los Gatos Los Gatos Cupertino Developer Apple Inc. Grosvenor CBRE Global Investors Prometheus South Bay Development Ellis Partners Total Project Size 3,325,000 350,000 242,500 200,000 175,579 100,000 Number of Bldgs 1 2 2 1 1 1 Divisible to N/A 150,000 105,000 TBD 30,000 TBD Acreage 150 40 19.07 1.54 4.72 25.3 FAR (Coverage) 45% 34% 66% 298% 84% 40% # of Floors Multi-story TBD 4 8 5 5 Size of Floors TBD TBD 34,375 TBD 34,000 20,000 Parking Ratio TBD TBD 3.3 TBD 3.5 3.5 Parking Surface & Structured Surface & Structured Surface & Structured TBD Structured & Underground Surface & Structured Rental Rate TBD TBD $3.95 NNN TBD $3.95 NNN $4.50 NNN Shell TBD TBD Warm TBD Warm Warm T.I. Allowance TBD TBD $40.00 TBD $45.00 TBD Project Status Under Construction (BTS) Entitled Under Construction (BTS) Seeking Entitlements Under Construction (SPEC) Seeking Entitlements Comments Owner/user campus. Project will include Phase I of the North 40 is a Phase II includes two buildings totaling Would begin constuction with the New five story office building to be built Tentative plan to allow construction of a one 2.8 million square foot building, one comprehensive proposal by Grosvenor, ±242,500 square feet available for lease. completion of a ±60,000 square-foot at Highway 17 and Hamilton. Parking new office building and retail pad ±300,000 square foot office building and SummerHill Homes, and Eden Housing Building one is ±105,000 square feet, lease in place. This would be the fifth garage and a new Marriott hotel next buildings, expansion of the existing two ±112,500 square foot R&D buildings. for mixed-use development. The general building two will be ±137,500 square building to join an existing four building door. Construction began Q1 2016, parking structure, exterior renovation of Demolition of site began Q4 2013. plan would allow for an additional feet. These buildings will join an campus. expected completion is Q2 2017. the shopping center buildings, and Expected completion date 2017. 350,00 square feet of commercial space additional two building office project, subdivision of the property. to be built in Phase II . complete and fully leased to Netflix. Netflix preleased phase II in August 2015.

COLLIERS INTERNATIONAL NEW DEVELOPMENT PIPELINE 48 SILICON VALLEY WEST VALLEY JULY 2016 West Valley Palo Alto

5 6 Mountain View

Apple Spaceship North 40 The Grove Cupertino City Center AppleCreekside Spaceship @ 17 NorthThe Pruneyard 40 The Grove Cupertino City Center Creekside @ 17 The Pruneyard Project Name Cupertino City Center ProjectProject Name Name Creekside Office Park The Pruneyard The Pruneyard Pruneridge/Tantau Hwy 85 & Hwy 17 14600 Winchester Blvd & 90 Albright 20475 Stevens Creek Blvd. Pruneridge/Tantau655 Creekside Way Hwy1901-1999 85 & Hwy Bascom 17 Avenue 14600 Winchester Blvd & 90 Albright 20475 Stevens Creek Blvd. 655 Creekside Way 1901-1999 Bascom Avenue Address Address Cupertino Los Gatos Los20475 Gatos Stevens Creek Blvd. Cupertino Address CupertinoCampbellCreekside Way Los1901-1999Campbell Gatos South Bascom Avenue Los1901-1999 Gatos Bascom Avenue Cupertino Campbell Campbell Sunnyvale Campbell Campbell Campbell Sunnyvale Developer Apple Inc. Grosvenor CBRE Global Investors Prometheus Developer AppleSouth Inc.Bay Development GrosvenorEllis Partners CBRE Global Investors Prometheus South Bay Development Ellis Partners Total Project Size 3,325,000 350,000 242,500 200,000 Total Project Size 3,325,000175,579 350,000100,000 242,500 200,000 175,579 100,000 Number of Bldgs 1 2 2 1 Number of Bldgs 1 21 2 1 1 1 Divisible to N/A 150,000 105,000 TBD Divisible to N/A30,000 150,000TBD 105,000 TBD 30,000 TBD Acreage 150 40 19.07 1.54 Acreage 1504.72 4025.3 19.07 1.54 4.72 25.3 FAR (Coverage) 45% 34% 66% 298% FAR (Coverage) 45%84% 34%40% 66% 298% 84% 40%

# of Floors Multi-story TBD 4 8 # of Floors Multi-story5 TBD5 4 8 5 Santa Clara 5 Size of Floors TBD TBD 34,375 TBD Size of Floors TBD34,000 TBD20,000 34,375 TBD 34,000 20,000 Parking Ratio TBD TBD 3.3 TBD Parking Ratio TBD3.5 TBD3.5 3.3 TBD 3.5 3.5 Parking Surface & Structured Surface & Structured Surface & Structured TBD Parking SurfaceStructured & Structured & Underground Surface & Structured Surface & Structured TBD Structured & Underground Surface & Structured Rental Rate TBD TBD $3.95 NNN TBD Rental Rate TBD$3.95 NNN TBD$4.50 NNN $3.95 NNN TBD $3.95 NNN $4.50 NNN Shell TBD TBD Warm TBD Shell TBDWarm TBDWarm Warm TBD Warm Warm T.I. Allowance TBD TBD $40.00 TBD T.I. Allowance TBD$45.00 TBD $40.00 TBD $45.00 TBD

Project Status Under Construction (BTS) Entitled Under Construction (BTS) Seeking Entitlements Project Status Under Construction (BTS)(SPEC) EntitledSeeking Entitlements Under Construction (BTS) Seeking Entitlements Under ConstructionSan Jose (SPEC) Seeking Entitlements Comments Owner/user campus. Project will include Phase I of the North 40 is a Phase II includes two buildings totaling Would begin constuctionComments with the Owner/userNew five story campus. office buildingProject willto be include built PhaseTentative I of planthe North to allow 40 constructionis a of a Phase II includes two buildings totaling Would begin constuction with the New five story office building to be built Tentative plan to allow construction of a one 2.8 million square foot building, one comprehensive proposal by Grosvenor, ±242,500 square feet available for lease. completion of a ±60,000 square-foot oneat Highway 2.8 million 17 andsquare Hamilton. foot building, Parking one comprehensivenew office building proposal and retail by Grosvenor, pad ±242,500 square feet available for lease. completion of a ±60,000 square-foot at Highway 17 and Hamilton. Parking new office building and retail pad ±300,000 square foot office building and SummerHill Homes, and Eden Housing Building one is ±105,000 square feet, lease in place. This would be the fifth ±300,000garage and square a new foot Marriott office hotel building next and SummerHillbuildings, expansion Homes, and of the Eden existing Housing Building one is ±105,000 square feet, lease in place. This would be the fifth garage and a new Marriott hotel next buildings, expansion of the existing two ±112,500 square foot R&D buildings. for mixed-use development. The general building two will be ±137,500 square building to join an existing four building twodoor. ±112,500 Construction square began foot Q1R&D 2016, buildings. forparking mixed-use structure, development. exterior renovation The general of building two will be ±137,500 square building to join an existing four building door. Construction began Q1 2016, parking structure, exterior renovation of Demolition of site began Q4 2013. plan would allow for an additional feet. These buildings will join an campus. Demolitionexpected completion of site began is Q2 Q4 2017. 2013. planthe shopping would allow center for buildings,an additional and feet. These buildings will join an campus. expected completion is Q2 2017. the shopping center buildings, and Expected completion date 2017. 350,00 square feet of commercial space additional two building office project, Expected completion date 2017. 350,00subdivision square of thefeet property. of commercial space additional two building office project, subdivision of the property. to be built in Phase II . complete and fully leased to Netflix. to be built in Phase II . complete and fully leased to Netflix. West Valley West Netflix preleased phase II in August Netflix preleased phase II in August 2015. 2015.

COLLIERS INTERNATIONAL NEW DEVELOPMENT PIPELINE SILICON VALLEY WEST VALLEY JULY 2016 49 SAN JOSE/SILICON VALLEY SAN FRANCISCO 450 West Santa Clara Street 50 California Street San Jose, CA 95113 Suite 1900 +1 408 282 3800 San Francisco, CA 94111 +1 415 788 3100 TableCALIFORNIA OAKLAND/EAST BAY of Contents 1999 Harrison Street SACRAMENTO Suite 1750 301 University Avenue Oakland, CA 94612 Suite 100 +1 510 986 6770 Sacramento, CA 95825 +1 916 929 5999 WALNUT CREEK/EAST BAY 1850 Mt. Diablo Boulevard STOCKTON/CENTRAL VALLEY Suite 200 3439 Brookside Road Walnut Creek, CA 94596 Suite 108 +1 925 279 0120 Stockton, CA 95219 +1 209 475 5100 PLEASANTON/EAST BAY 3825 Hopyard Road GILROY/SOUTH COUNTY Suite 195 8070 Santa Teresa Boulevard Pleasanton, CA 94588 Suite 220 +1 925 463 2300 Gilroy, CA 95020 +1 408 842 7000 SAN FRANCISCO PENINSULA 203 Redwood Shores Parkway FAIRFIELD/NORTH BAY Suite 125 360 Campus Lane, Suite 101 Redwood City, CA 94065 Fairfield, CA 94534 +1 650 486 2200 +1 707 863 0188

MOUNTAIN VIEW 2570 El Camino Real Suite 222 Mountain View, CA 94040 +1 408 282 3800

LAS VEGAS RENO 3960 Howard Hughes Pkwy 100 W. Liberty, Suite 740 Las Vegas, NV 89169 Reno, NV 89501

NEVADA +1 702 735 5700 +1 775 823 9666

Colliers International is a global leader in real estate services with more than 13,500 professionals operating out of 482 offices in 62 countries. Colliers provides a full range of services to real estate users, owners and investors worldwide including: global corporate solutions; sales and lease brokerage; property and asset management; project management; hotel investment sales and consulting; property valuation and appraisal services; mortgage banking and insightful research. Colliers has 10 offices in Northern California and Nevada.