NEGATIVE ASORPTION 2011 Keystone88,000sf Two tenants downsize Imperial Center40,000sf Closes 180,000sf New Sublease Tri-Center South85,000sf Sublease goes direct 32,000sf move to Creedmoor Tri-Center North170,000sf direct to shadow space Weck Drive168,000sf recycler downsizes 2100 Harrod89,000sf moves out 681,000sf
BUILDING SALES COMPS AddressSize$/SFDate 8605 Ebenezer Church Raleigh, NC81,600sf$45.95/sf 05/25/10 323 Park Knoll Durham, NC128,000sf$43.61/sf12/22/10 4400 Emperor Blvd. Durham, NC182,165sf$41.03/sf07/01/10
INDUSTRIAL LAND COMPS AddressSizeUsePriceDate 100 Laurensfield Ct.8.924Truck $2.31/sf Garner, NCacres+/1Maintenance$100,600/acre7/29/10 2800 Spring Forest 4.80$3.94/sf Raleigh, NCacres+/-Mini-Storage$171,600/acre7/28/10 860 E. Garner 4.95Martin$2.78/sf Garner, NCacres+/-Marietta$121,100/acre4/1/10 S. New Hope Rd 10.08Public Service$4.78/sf & Global St, Raleigh, NCacres+/-Gas$206,900/acre4/1/10 Northeast Food8.00Manufacturing$29,000/acre 6/1/10 Clayton, NCacres
CONSTRUCTION COSTS INCREASE Steel has increased 16% this year Concrete to increase $5/yard in April Fuel increase effects asphalt /rubber roof/ PVC Pipe / Transportation Grading industry is out of business. When the market comes back, a few grading contractors will control the prices charged. $55/sf to build a 60,000sf concrete building.