1. Presented By: Brian Wilkes Adams County Commercial Real Estate Outlook Client Logo Goes Here

2. Denver Economy Diverse Economy Population Growth Light Rail/Transit

3. 3 Denver Economy Metro Indicators: Office

4. 4 Denver Economy Metro Indicators: Retail

5. 5 Denver Economy Metro Indicators: Industrial

6. 6 Denver Economy Capital Markets CAP Rates

7. Adams County

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10. 10 Adams County Market Trends

11. 11 Adams County Market Trends

12. 12 Adams County Business Activity Manufacturing Trucking/3PL Food/Manufacturing/ Distribution Construction/Building Materials Oil/Gas Service Companies

13. 13 Adams County Speculative Development –Majestic Commerce Center: 500,000 SF –Gateway Park: 348,000 Industrial Land Sale Activity Market Trends

14. 14 Adams County Speculative Development Size Range Need For Mid-Range User Building Construction Costs vs. Rental Rates Current Construction Dilemma

15. Marijuana Effect

16. 16 Marijuana Effect

17. 17 Marijuana Effect Estimated 4 Million SF Currently Leased To Grow Operations B-/C Class Increase/Double $/SF Increased Lease Rates Drive Traditional User To Periphery Markets Ancillary Business Opportunities

18. Forecast

19. 19 Forecast Vacancy Rates Will Continue To Set New Records Lease Rates and $/SF Continue Their Upward Trend Conservative Delivery of Spec Development Investor Demand Will Stay Strong Bullish on Adams County Industrial