1. University Center Research Team Dr. Scott Dempwolf, Ph.D., EDA Center Director Zhi Li, Ph.D. student Kerry Li Fang, Ph.D. Student Jiemin Wu, Ph.D. student University of Maryland, College Park U.S. Economic Development Administration University Center Dr. Marie Howland, Ph.D. June 28, 2014 Real Estate Condition in Montgomery County, Maryland

2. Economic Recession (12. 2007 ~ 6. 2009) Office Total Vacancy Rate has decreased by around 0.6% from Q3 2009 to Q4 2013 Sources: CoStar Group, January 7, 2014

3. Economic Recession (12. 2007 ~ 6. 2009) Office Total Vacancy Rate has decreased by around 0.6% from Q3 2009 to Q4 2013

4. Economic Recession (12. 2007 ~ 6. 2009)

5. Office Total Vacancy Rate has decreased by around 0.6% from Q3 2009 to Q4 2013 Economic Recession (12. 2007 ~ 6. 2009)