INVESTMENT PORTFOLIO SUMMARY MIRVAC ...cdn3.blocksassets.com/assets/mirvac-funds/mirvac...Investment PortfolIo overvIew 2 ChICago market overvIew 10 Investment PortfolIo 12 mchenry

I

FY10INVESTMENT PORTFOLIO SUMMARY

MIRVAC INDUSTRIAL TRUST

Investment PortfolIo overvIew 2ChICago market overvIew 10Investment PortfolIo 12mchenry County1750 South Lincoln Drive, Freeport, IL 12308 South Division Street, Harvard, IL 12875 West Diggins Street, Harvard, IL 13lake County28170 North Keith Drive, Lake Forest, IL 133145 Central Avenue, Waukegan, IL 143841–3865 Swanson Court, Gurnee, IL 141100 Lakeside Drive, Gurnee, IL 151810 Northwestern Drive, Gurnee, IL 15620 South Butterfield Road, Mundelein, IL 16northeast Cook County5990 West Touhy Avenue, Niles, IL 16northwest Cook County3602 North Kennicott Avenue, Arlington Heights, IL 171301 Tower Road, Schaumburg, IL 171605 Penny Lane, Schaumburg, IL 181665 Penny Lane, Schaumburg, IL 18514–532 Hicks Road, Palatine, IL 19900 West University Drive, Arlington Heights, IL 19

north kane County1111 Bowes Road, Elgin, IL 20north DuPage County800–850 Regency Drive, Glendale Heights, IL 20o’hare1445–1645 Greenleaf Avenue, Elk Grove Village, IL 211796 Sherwin Avenue, Des Plaines, IL 211850 Greenleaf Avenue, Elk Grove Village, IL 222600 Elmhurst Road, Elk Grove Village, IL 22850 Arthur Avenue, Elk Grove Village, IL 23712 North Central Avenue, Wood Dale, IL 23near west suburbs100 West Whitehall Drive, Northlake, IL 241900 North 5th Avenue, River Grove, IL 24west suburbs342–346 Carol Lane, Elmhurst, IL 25200 South Mitchell Court, Addison, IL 255101 Darmstadt Road, Hillside, IL 26far west suburbs1020 Frontenac Road, Naperville, IL 261880 Country Farm Road, Naperville, IL 272727 West Deihl Road, Naperville, IL 27

CONTENTS

1

southwest suburbs6000 West 73rd Street, Bedford Park, IL 286510 West 73rd Street, Bedford Park, IL 286558 West 73rd Street, Bedford Park, IL 296600 River Road, Hodgkins, IL 296751 South Sayre Avenue, Bedford Park, IL 307200 South Mason Avenue, Bedford Park, IL 309700 Harlem Avenue, Bridgeview, IL 317447 South Central Avenue, Bedford Park, IL 31far southwest suburbs625 Willowbrook Center Parkway, Willowbrook, IL 32CIty south900 East 103rd Street, Chicago, IL 32south suburbs11601 South Central Avenue, Alsip, IL 3313040 South Pulaski Avenue, Alsip, IL 3316750 Vincennes Road, South Holland, IL 3421399 Torrence Avenue, Sauk Village, IL 345619–5625 West 115th Street, Alsip, IL 35JolIet area21705–21707 West Mississippi Street, Elwood, IL 3527413 South Baseline Road, Elwood, IL 36

northwest InDIanaEC VI-4507 Columbia Avenue, Hammond, IN 36EC VI-4531 Columbia Avenue, Hammond, IN 37kenosha/raCIne CountIes8100 100th Street, Pleasant Prairie, WI 378200 100th Street, Pleasant Prairie, WI 38mIlwaukeeW165 N5830 Ridgewood Drive, Menomonee Falls, WI 385110 South 6th Street, Milwaukee, WI 39525 West Marquette Avenue, Oak Creek, WI 3911100 West Silver Spring Road, Milwaukee, WI 401500 West Zellman Court, Milwaukee, WI 40301 East Vienna Avenue, Milwaukee, WI 416400 West Enterprise Drive, Mequon, WI 416600 North Industrial Road, Milwaukee, WI 427620 South 10th Street, Oak Creek, WI 42N53 W24700 Corporate Circle, Sussex, WI 43granD raPIDs5450 Kraft Avenue, Grand Rapids, MI 43

DIreCtory 44

2 MIRVAC INDUSTRIAL TRUST INVESTMENT PORTFOLIO SUMMARY – JUNE 2010

INVESTMENT PORTFOLIO OVERVIEw

KEY STATISTICS

Overall vacancy of the Portfolio has increased >to 19.2 per cent (as at 30 June 2010), from 15.9 per cent (as at 31 December 2009).

The Portfolio’s passing rental income is >US$3.33 per square foot.

The Po > rtfolio’s weighted average lease expiry is 4.9 years1.

The tenant retention rate for the Trust remains strong >at 74.8 per cent since the Trust’s IPO in May 2005.

VALUATIONS

18 independent revaluations were undertaken in the >six month period to 30 June 2010. Together with Internal Directors’ revaluations, the total portfolio2 value decreased by US$11.0 million, down 2.6 per cent on 31 December 2009 book value.

Weighted average capitalisation rate of the Portfolio >as at 30 June 2010 is 9.00 per cent based on the most recent independent and directors’ valuations.

1 Weighted by income.2 On a like-for-like asset basis.

625 WILLOWBROOK CENTER PARKWAY, WILLOWBROOK, IL

3

LEASE ExPIRY bY AREA

VA

CA

NT

MT

M

2011

2012

2013

2014

2017+

2015

2016

VA

CA

NT

MT

M

2011

2012

2013

2014

2015

Beyond

At 30 June 2010

VA

CA

NT

MT

M

2010

2011

2012

2013

2015

+

2014

At 31 DeCeMBeR 2009

GEOGRAPhIC DIVERSIFICATIONThe Portfolio contains 86 tenants spread across four markets and 19 sub-markets.

TENANT DIVERSIFICATIONThe Portfolio is well represented across a range of industries.

ILLINOIS 80.9%

WISCONSIN 17.0%

INDIANA 1.4%

MICHIGAN 0.7%

1 As at 30 June 2010.

MANUFACTURING 37.0%

TRANSPORTATION, COMMUNICATIONS, ELECTRIC, GAS AND SANITARY SERVICES 24.7%

WHOLESALE TRADE 21.0%

RETAIL TRADE 8.8%

SERVICES 7.0%

OTHER 1.5%

2 June 2010 passing gross income annualised.

PoRtfolio By Book vAlue1 PoRtfolio By gRoss inCoMe2

toP 10 tenAnts By gRoss inCoMe

tenAnt inCoMe By % teRM ReMAining (yeARs)

TRUE VALUE CORPORATION 5.7 10.5

ROCKWELL AUTOMATION 5.5 4.3

FACTORY CARD OUTLET 5.2 8.5

DSC LOGISTICS 5.0 1.0

INNOWARE PAPER 3.7 5.5

NExUS 3.5 4.1

CITY OF CHICAGO 3.5 4.5

APL LOGISTICS 3.4 4.0

NEWELL WINDOW FURNISHINGS 3.1 3.0

PACTIV CORPORATION 2.9 8.0

41.5 5.5

40% AReA

30

20

10

40% AReA

30

20

10


INVESTMENT PORTFOLIO OVERVIEw (CONTINUED)

90

355

55

88

80

94

290

94

294

294 294

80

80

90

90

80

80

90

69

69

69

9494

196

96

96

69

96

496

96

94

94

69

909090

90

41

41

31

31

31

31

31

131

131

127

127

6

20

94

94

94

43

43

43

43

894

41

41

41

41

45

41

LakeMichigan

1 2

19

20

21

345

67

891011

12 1314

15

161817

MidwayAirport

O’HareInternational

Airport

General MitchellInternational Airport

0 6 123 9

MILES

MilwaukeeGrand Rapids

WISCONSIN

ILLINOIS

INDIANA

MICHIGAN

Chicago

Lansing

LEGENDGreater Chicago Region1 McHenry County2 Lake County3 Northeast Cook County4 Northwest Cook County5 North Kane County6 North DuPage County7 O’Hare8 City North9 Near West Suburbs10 West Suburbs11 Central Kane/DuPage County12 Far West Suburbs13 Southwest Suburbs14 Far Southwest Suburbs15 City South16 South Suburbs17 Joliet Area18 Northwest Indiana19 Kenosha/Racine CountiesMilwaukee20 MilwaukeeMichigan21 Grand Rapids

5

90

355

55

88

80

94

290

94

294

294 294

80

80

90

90

80

80

90

69

69

69

9494

196

96

96

69

96

496

96

94

94

69

909090

90

41

41

31

31

31

31

31

131

131

127

127

6

20

94

94

94

43

43

43

43

894

41

41

41

41

45

41

LakeMichigan

1 2

19

20

21

345

67

891011

12 1314

15

161817

MidwayAirport

O’HareInternational

Airport

General MitchellInternational Airport

0 6 123 9

MILES

MilwaukeeGrand Rapids

WISCONSIN

ILLINOIS

INDIANA

MICHIGAN

Chicago

Lansing

LEGENDGreater Chicago Region1 McHenry County2 Lake County3 Northeast Cook County4 Northwest Cook County5 North Kane County6 North DuPage County7 O’Hare8 City North9 Near West Suburbs10 West Suburbs11 Central Kane/DuPage County12 Far West Suburbs13 Southwest Suburbs14 Far Southwest Suburbs15 City South16 South Suburbs17 Joliet Area18 Northwest Indiana19 Kenosha/Racine CountiesMilwaukee20 MilwaukeeMichigan21 Grand Rapids


PRoPeRty suB-MARket PuRCHAse DAte

PuRCHAse PRiCe

(us$M)

inDePenDent vAluAtion

(us$M)


DAte

CAPitAlisAtion RAte1

(%)

gRoss lettABle AReA

(sf)

MARket Rent (us$/sf)

(inteRnAl vAls +exteRnAl vAls)

CuRRent net Rent

PeR Asset (oCCuPieD)

oCCuPAnCy (%)

Asset WAle By AReA (inCoMe)

% of PoRtfolio

By AReA

1750 SOUTH LINCOLN DRIVE McHENRY COUNTY NOV 2005 14.5 9.6 JUN 2009 10.25 499,200 2.50 2.41 100 3.0 3.7

308 SOUTH DIVISION STREET McHENRY COUNTY MAY 2005 28.8 22.2 JUN 2010 9.75 1,331,727 2.00 1.74 90 10.5 9.9

875 WEST DIGGINS STREET McHENRY COUNTY JUN 2006 6.7 4.1 DEC 2009 9.25 126,304 3.50 3.19 100 10.5 0.9

28170 NORTH KEITH DRIVE LAKE COUNTY JUL 2005 4.3 2.9 JUN 2010 9.25 77,924 4.25 3.94 100 1.6 0.6

3145 CENTRAL AVENUE LAKE COUNTY JUL 2005 10.8 4.3 JUN 2010 9.75 304,641 3.25 2.63 19 0.9 2.3

3841-3865 SWANSON COURT LAKE COUNTY FEB 2006 4.6 2.5 DEC 2009 9.25 100,000 3.50 3.32 81 1.4 0.7

1100 LAKESIDE DRIVE LAKE COUNTY JUN 2006 4.1 2.9 DEC 2009 9.00 39,364 6.50 8.04 100 5.9 0.3

1810 NORTHWESTERN DRIVE LAKE COUNTY JUN 2006 7.0 4.0 DEC 2009 9.25 122,712 3.50 5.09 80 5.7 0.9

620 SOUTH BUTTERFIELD ROAD LAKE COUNTY JUN 2006 3.2 2.1 JUN 2009 9.00 24,237 9.00 10.59 100 0.5 0.2

5990 WEST TOUHY AVENUE NORTHEAST COOK COUNTY FEB 2006 15.2 13.4 JUN 2009 9.00 300,791 4.83 5.34 95 4.6 2.2

3602 NORTH KENNICOTT AVENUE NORTHWEST COOK COUNTY JUL 2005 6.5 5.1 JUN 2010 9.00 94,300 4.25 4.37 100 8.6 0.7

1301 TOWER ROAD NORTHWEST COOK COUNTY JUN 2006 8.7 5.6 JUN 2009 8.75 50,400 10.00 14.53 100 2.5 0.4

1605 PENNY LANE NORTHWEST COOK COUNTY JUN 2006 2.3 1.8 DEC 2009 9.00 27,742 7.25 5.45 100 6.6 0.2

1665 PENNY LANE NORTHWEST COOK COUNTY JUN 2006 1.2 1.9 JUN 2009 8.25 20,757 8.00 8.03 100 9.1 0.2

514-532 HICKS ROAD NORTHWEST COOK COUNTY JUN 2006 3.6 2.2 DEC 2009 9.00 71,100 4.25 1.95 100 6.0 0.5

900 WEST UNIVERSITY DRIVE NORTHWEST COOK COUNTY JUN 2006 6.4 6.2 JUN 2009 8.00 86,254 5.85 5.74 100 8.0 0.6

1111 BOWES ROAD NORTH KANE COUNTY JUN 2006 8.7 6.8 DEC 2009 9.00 144,578 4.50 5.34 100 6.8 1.1

800-850 REGENCY DRIVE NORTH DUPAGE COUNTY MAY 2005 4.8 3.3 JUN 2010 9.25 48,230 7.00 8.05 100 3.9 0.4

1445-1645 GREENLEAF AVENUE O'HARE MAY 2005 7.9 5.0 JUN 2010 9.25 150,000 4.00 3.03 80 2.4 1.1

1796 SHERWIN AVENUE O'HARE NOV 2005 5.0 3.8 JUN 2009 8.50 98,879 3.75 3.92 100 2.9 0.7

1850 GREENLEAF AVENUE O'HARE NOV 2005 3.2 3.0 DEC 2009 8.50 58,627 5.25 4.98 100 0.6 0.4

2600 ELMHURST ROAD O'HARE JUN 2006 8.6 5.0 JUN 2009 8.75 105,000 5.00 3.45 100 9.8 0.8

850 ARTHUR AVENUE O'HARE JUN 2006 2.9 1.9 JUN 2009 8.75 42,490 4.50 3.13 100 0.6 0.3

712 NORTH CENTRAL AVENUE O'HARE JUN 2006 5.3 4.1 DEC 2009 8.75 57,005 7.00 VACANT 0 – 0.4

100 WEST WHITEHALL DRIVE NEAR WEST SUBURBS JUN 2006 17.6 10.3 DEC 2009 8.25 251,584 4.25 3.83 100 6.7 1.9

1900 NORTH 5TH AVENUE NEAR WEST SUBURBS DEC 2006 10.7 8.1 JUN 2009 9.50 295,362 2.95 3.04 100 6.3 2.2

342-346 CAROL LANE WEST SUBURBS JUN 2006 6.6 4.2 DEC 2009 9.00 67,935 6.50 5.09 70 5.2 0.5

200 SOUTH MITCHELL COURT WEST SUBURBS JUN 2006 10.0 5.5 JUN 2010 8.75 152,200 4.00 5.11 35 1.1 1.1

5101 DARMSTADT ROAD WEST SUBURBS JUN 2006 5.3 4.2 DEC 2009 8.50 61,054 6.00 7.17 100 7.5 0.5

1020 FRONTENAC ROAD FAR WEST SUBURBS NOV 2005 4.3 3.6 JUN 2009 8.75 99,684 3.50 3.51 100 2.8 0.7

1880 COUNTRY FARM ROAD FAR WEST SUBURBS JUL 2007 12.3 7.1 DEC 2009 9.00 162,000 4.50 3.45 100 6.5 1.2

2727 WEST DEIHL ROAD FAR WEST SUBURBS MAY 2005 31.3 21.1 JUN 2010 8.50 440,343 4.25 4.64 100 8.5 3.3

6000 WEST 73RD STREET SOUTHWEST SUBURBS NOV 2005 5.9 4.7 DEC 2009 9.25 148,091 3.25 3.16 100 8.0 1.1

6510 WEST 73RD STREET SOUTHWEST SUBURBS MAY 2005 12.3 7.7 JUN 2010 8.75 306,552 3.00 1.73 100 4.4 2.3

6558 WEST 73RD STREET SOUTHWEST SUBURBS FEB 2006 11.6 8.7 JUN 2009 8.75 301,000 2.75 2.83 100 3.9 2.2

6600 RIVER ROAD SOUTHWEST SUBURBS FEB 2006 19.0 14.9 JUN 2009 9.00 630,410 2.65 2.52 83 4.0 4.7


7


PuRCHAse PRiCe

(us$M)


(us$M)


DAte


(%)

gRoss lettABle AReA

(sf)



CuRRent net Rent


oCCuPAnCy (%)


% of PoRtfolio

By AReA

1750 SOUTH LINCOLN DRIVE McHENRY COUNTY NOV 2005 14.5 9.6 JUN 2009 10.25 499,200 2.50 2.41 100 3.0 3.7

308 SOUTH DIVISION STREET McHENRY COUNTY MAY 2005 28.8 22.2 JUN 2010 9.75 1,331,727 2.00 1.74 90 10.5 9.9

875 WEST DIGGINS STREET McHENRY COUNTY JUN 2006 6.7 4.1 DEC 2009 9.25 126,304 3.50 3.19 100 10.5 0.9

28170 NORTH KEITH DRIVE LAKE COUNTY JUL 2005 4.3 2.9 JUN 2010 9.25 77,924 4.25 3.94 100 1.6 0.6

3145 CENTRAL AVENUE LAKE COUNTY JUL 2005 10.8 4.3 JUN 2010 9.75 304,641 3.25 2.63 19 0.9 2.3

3841-3865 SWANSON COURT LAKE COUNTY FEB 2006 4.6 2.5 DEC 2009 9.25 100,000 3.50 3.32 81 1.4 0.7

1100 LAKESIDE DRIVE LAKE COUNTY JUN 2006 4.1 2.9 DEC 2009 9.00 39,364 6.50 8.04 100 5.9 0.3

1810 NORTHWESTERN DRIVE LAKE COUNTY JUN 2006 7.0 4.0 DEC 2009 9.25 122,712 3.50 5.09 80 5.7 0.9

620 SOUTH BUTTERFIELD ROAD LAKE COUNTY JUN 2006 3.2 2.1 JUN 2009 9.00 24,237 9.00 10.59 100 0.5 0.2

5990 WEST TOUHY AVENUE NORTHEAST COOK COUNTY FEB 2006 15.2 13.4 JUN 2009 9.00 300,791 4.83 5.34 95 4.6 2.2

3602 NORTH KENNICOTT AVENUE NORTHWEST COOK COUNTY JUL 2005 6.5 5.1 JUN 2010 9.00 94,300 4.25 4.37 100 8.6 0.7

1301 TOWER ROAD NORTHWEST COOK COUNTY JUN 2006 8.7 5.6 JUN 2009 8.75 50,400 10.00 14.53 100 2.5 0.4

1605 PENNY LANE NORTHWEST COOK COUNTY JUN 2006 2.3 1.8 DEC 2009 9.00 27,742 7.25 5.45 100 6.6 0.2

1665 PENNY LANE NORTHWEST COOK COUNTY JUN 2006 1.2 1.9 JUN 2009 8.25 20,757 8.00 8.03 100 9.1 0.2

514-532 HICKS ROAD NORTHWEST COOK COUNTY JUN 2006 3.6 2.2 DEC 2009 9.00 71,100 4.25 1.95 100 6.0 0.5

900 WEST UNIVERSITY DRIVE NORTHWEST COOK COUNTY JUN 2006 6.4 6.2 JUN 2009 8.00 86,254 5.85 5.74 100 8.0 0.6

1111 BOWES ROAD NORTH KANE COUNTY JUN 2006 8.7 6.8 DEC 2009 9.00 144,578 4.50 5.34 100 6.8 1.1

800-850 REGENCY DRIVE NORTH DUPAGE COUNTY MAY 2005 4.8 3.3 JUN 2010 9.25 48,230 7.00 8.05 100 3.9 0.4

1445-1645 GREENLEAF AVENUE O'HARE MAY 2005 7.9 5.0 JUN 2010 9.25 150,000 4.00 3.03 80 2.4 1.1

1796 SHERWIN AVENUE O'HARE NOV 2005 5.0 3.8 JUN 2009 8.50 98,879 3.75 3.92 100 2.9 0.7

1850 GREENLEAF AVENUE O'HARE NOV 2005 3.2 3.0 DEC 2009 8.50 58,627 5.25 4.98 100 0.6 0.4

2600 ELMHURST ROAD O'HARE JUN 2006 8.6 5.0 JUN 2009 8.75 105,000 5.00 3.45 100 9.8 0.8

850 ARTHUR AVENUE O'HARE JUN 2006 2.9 1.9 JUN 2009 8.75 42,490 4.50 3.13 100 0.6 0.3

712 NORTH CENTRAL AVENUE O'HARE JUN 2006 5.3 4.1 DEC 2009 8.75 57,005 7.00 VACANT 0 – 0.4

100 WEST WHITEHALL DRIVE NEAR WEST SUBURBS JUN 2006 17.6 10.3 DEC 2009 8.25 251,584 4.25 3.83 100 6.7 1.9

1900 NORTH 5TH AVENUE NEAR WEST SUBURBS DEC 2006 10.7 8.1 JUN 2009 9.50 295,362 2.95 3.04 100 6.3 2.2

342-346 CAROL LANE WEST SUBURBS JUN 2006 6.6 4.2 DEC 2009 9.00 67,935 6.50 5.09 70 5.2 0.5

200 SOUTH MITCHELL COURT WEST SUBURBS JUN 2006 10.0 5.5 JUN 2010 8.75 152,200 4.00 5.11 35 1.1 1.1

5101 DARMSTADT ROAD WEST SUBURBS JUN 2006 5.3 4.2 DEC 2009 8.50 61,054 6.00 7.17 100 7.5 0.5

1020 FRONTENAC ROAD FAR WEST SUBURBS NOV 2005 4.3 3.6 JUN 2009 8.75 99,684 3.50 3.51 100 2.8 0.7

1880 COUNTRY FARM ROAD FAR WEST SUBURBS JUL 2007 12.3 7.1 DEC 2009 9.00 162,000 4.50 3.45 100 6.5 1.2

2727 WEST DEIHL ROAD FAR WEST SUBURBS MAY 2005 31.3 21.1 JUN 2010 8.50 440,343 4.25 4.64 100 8.5 3.3

6000 WEST 73RD STREET SOUTHWEST SUBURBS NOV 2005 5.9 4.7 DEC 2009 9.25 148,091 3.25 3.16 100 8.0 1.1

6510 WEST 73RD STREET SOUTHWEST SUBURBS MAY 2005 12.3 7.7 JUN 2010 8.75 306,552 3.00 1.73 100 4.4 2.3

6558 WEST 73RD STREET SOUTHWEST SUBURBS FEB 2006 11.6 8.7 JUN 2009 8.75 301,000 2.75 2.83 100 3.9 2.2

6600 RIVER ROAD SOUTHWEST SUBURBS FEB 2006 19.0 14.9 JUN 2009 9.00 630,410 2.65 2.52 83 4.0 4.7



PuRCHAse PRiCe

(us$M)


(us$M)


DAte


(%)

gRoss lettABle AReA

(sf)



CuRRent net Rent


oCCuPAnCy (%)


% of PoRtfolio

By AReA

6751 SOUTH SAYRE AVENUE SOUTHWEST SUBURBS NOV 2005 9.4 6.1 JUN 2009 9.50 242,690 2.75 1.55 100 4.0 1.8

7200 SOUTH MASON AVENUE SOUTHWEST SUBURBS JUL 2005 7.9 7.4 JUN 2010 8.50 207,345 3.50 3.13 100 8.0 1.5

9700 HARLAM AVENUE SOUTHWEST SUBURBS JUL 2005 4.1 1.6 JUN 2010 10.00 101,140 2.75 -0.12 100 – 0.8

7447 SOUTH CENTRAL AVENUE SOUTHWEST SUBURBS JUN 2006 4.3 2.2 DEC 2009 9.25 118,218 3.00 VACANT 0 – 0.9

625 WILLOWBROOK CENTER PARKWAY FAR SOUTHWEST SUBURBS JUN 2006 7.4 5.4 DEC 2009 9.25 41,600 12.50 16.21 100 6.2 0.3

900 EAST 103RD STREET CITY SOUTH JUL 2005 16.5 8.0 JUN 2010 10.25 531,460 2.25 4.42 57 3.8 4.0

11601 SOUTH CENTRAL AVENUE SOUTH SUBURBS FEB 2006 9.4 7.3 JUN 2009 8.75 260,000 2.75 2.87 100 2.2 1.9

13040 SOUTH PULASKI AVENUE SOUTH SUBURBS NOV 2005 14.2 7.3 DEC 2009 9.25 400,076 2.50 1.97 44 1.2 3.0

16750 VINCENNES ROAD SOUTH SUBURBS JUN 2006 6.4 4.8 DEC 2009 9.25 202,902 2.75 1.52 94 2.3 1.5

21399 TORRENCE AVENUE SOUTH SUBURBS JUN 2006 9.5 7.3 DEC 2009 9.25 372,580 2.75 1.39 21 – 2.8

5619-5625 WEST 115th STREET SOUTH SUBURBS JUN 2006 14.4 7.1 JUN 2010 9.00 399,511 2.75 1.76 57 2.1 3.0

21705-21707 WEST MISSISSIPPI STREET JOLIET AREA JUL 2005 34.7 30.5 JUN 2010 8.75 1,022,554 3.25 2.57 73 1.0 7.6

27413 SOUTH BASELINE ROAD JOLIET AREA JUL 2005 18.0 13.7 DEC 2009 8.50 213,500 6.50 3.53 44 1.3 1.6

EC VI-4507 COLUMBIA AVENUE NORTHWEST INDIANA FEB 2006 8.2 2.9 JUN 2010 10.00 256,595 2.25 3.21 100 3.3 1.9


8100 100TH STREET KENOSHA/RACINE COUNTIES NOV 2005 2.1 1.8 JUN 2009 8.50 38,290 4.50 3.63 100 10.0 0.3

8200 100TH STREET KENOSHA/RACINE COUNTIES NOV 2005 7.1 6.3 DEC 2009 8.50 148,472 4.00 3.17 100 10.0 1.1

W165 N5830 RIDGEWOOD DRIVE MILWAUKEE MAY 2005 17.4 14.1 JUN 2010 8.75 300,120 4.25 4.83 100 5.5 2.2

5110 SOUTH 6TH STREET MILWAUKEE NOV 2005 3.3 2.9 JUN 2009 8.75 58,500 5.00 4.62 100 1.3 0.4

525 WEST MARqUETTE AVENUE MILWAUKEE NOV 2005 4.5 4.1 DEC 2009 9.00 112,144 3.75 3.69 100 1.8 0.8

11100 WEST SILVER SPRING ROAD MILWAUKEE JUN 2006 6.7 3.6 JUN 2009 9.25 127,400 3.50 2.07 20 0.1 0.9

1500 WEST ZELLMAN COURT MILWAUKEE JUN 2006 3.1 2.2 DEC 2009 9.50 20,800 10.00 11.51 100 3.2 0.2

301 EAST VIENNA AVENUE MILWAUKEE JUN 2006 7.1 3.0 JUN 2010 9.25 116,354 3.00 2.56 100 4.8 0.9

6400 WEST ENTERPRISE DRIVE MILWAUKEE JUN 2006 28.9 22.2 JUN 2009 8.75 487,398 4.25 4.32 100 4.3 3.6

6600 NORTH INDUSTRIAL ROAD MILWAUKEE JUN 2006 4.0 2.7 DEC 2009 9.25 110,400 3.25 3.05 100 2.1 0.8

7620 SOUTH 10TH STREET MILWAUKEE JUN 2006 5.6 4.6 JUN 2009 9.00 150,192 3.00 3.33 100 4.3 1.1

N53 W24700 CORPORATE CIRCLE MILWAUKEE JUN 2006 8.5 4.8 JUN 2009 9.25 192,000 3.25 VACANT 0 – 1.4

5450 KRAFT AVENUE GRAND RAPIDS JUN 2006 2.9 2.8 DEC 2009 9.50 31,854 8.50 8.38 100 8.8 0.2

ToTal/average 594.1 412.6 9.002 13,429,539 3.40 3.33 80.8 4.9

1 Internal and external capitalisation rates.2 Weighted by book value.


9


PuRCHAse PRiCe

(us$M)


(us$M)


DAte


(%)

gRoss lettABle AReA

(sf)



CuRRent net Rent


oCCuPAnCy (%)


% of PoRtfolio

By AReA

6751 SOUTH SAYRE AVENUE SOUTHWEST SUBURBS NOV 2005 9.4 6.1 JUN 2009 9.50 242,690 2.75 1.55 100 4.0 1.8

7200 SOUTH MASON AVENUE SOUTHWEST SUBURBS JUL 2005 7.9 7.4 JUN 2010 8.50 207,345 3.50 3.13 100 8.0 1.5

9700 HARLAM AVENUE SOUTHWEST SUBURBS JUL 2005 4.1 1.6 JUN 2010 10.00 101,140 2.75 -0.12 100 – 0.8

7447 SOUTH CENTRAL AVENUE SOUTHWEST SUBURBS JUN 2006 4.3 2.2 DEC 2009 9.25 118,218 3.00 VACANT 0 – 0.9

625 WILLOWBROOK CENTER PARKWAY FAR SOUTHWEST SUBURBS JUN 2006 7.4 5.4 DEC 2009 9.25 41,600 12.50 16.21 100 6.2 0.3

900 EAST 103RD STREET CITY SOUTH JUL 2005 16.5 8.0 JUN 2010 10.25 531,460 2.25 4.42 57 3.8 4.0

11601 SOUTH CENTRAL AVENUE SOUTH SUBURBS FEB 2006 9.4 7.3 JUN 2009 8.75 260,000 2.75 2.87 100 2.2 1.9

13040 SOUTH PULASKI AVENUE SOUTH SUBURBS NOV 2005 14.2 7.3 DEC 2009 9.25 400,076 2.50 1.97 44 1.2 3.0

16750 VINCENNES ROAD SOUTH SUBURBS JUN 2006 6.4 4.8 DEC 2009 9.25 202,902 2.75 1.52 94 2.3 1.5

21399 TORRENCE AVENUE SOUTH SUBURBS JUN 2006 9.5 7.3 DEC 2009 9.25 372,580 2.75 1.39 21 – 2.8

5619-5625 WEST 115th STREET SOUTH SUBURBS JUN 2006 14.4 7.1 JUN 2010 9.00 399,511 2.75 1.76 57 2.1 3.0

21705-21707 WEST MISSISSIPPI STREET JOLIET AREA JUL 2005 34.7 30.5 JUN 2010 8.75 1,022,554 3.25 2.57 73 1.0 7.6

27413 SOUTH BASELINE ROAD JOLIET AREA JUL 2005 18.0 13.7 DEC 2009 8.50 213,500 6.50 3.53 44 1.3 1.6



8100 100TH STREET KENOSHA/RACINE COUNTIES NOV 2005 2.1 1.8 JUN 2009 8.50 38,290 4.50 3.63 100 10.0 0.3

8200 100TH STREET KENOSHA/RACINE COUNTIES NOV 2005 7.1 6.3 DEC 2009 8.50 148,472 4.00 3.17 100 10.0 1.1

W165 N5830 RIDGEWOOD DRIVE MILWAUKEE MAY 2005 17.4 14.1 JUN 2010 8.75 300,120 4.25 4.83 100 5.5 2.2

5110 SOUTH 6TH STREET MILWAUKEE NOV 2005 3.3 2.9 JUN 2009 8.75 58,500 5.00 4.62 100 1.3 0.4

525 WEST MARqUETTE AVENUE MILWAUKEE NOV 2005 4.5 4.1 DEC 2009 9.00 112,144 3.75 3.69 100 1.8 0.8

11100 WEST SILVER SPRING ROAD MILWAUKEE JUN 2006 6.7 3.6 JUN 2009 9.25 127,400 3.50 2.07 20 0.1 0.9

1500 WEST ZELLMAN COURT MILWAUKEE JUN 2006 3.1 2.2 DEC 2009 9.50 20,800 10.00 11.51 100 3.2 0.2

301 EAST VIENNA AVENUE MILWAUKEE JUN 2006 7.1 3.0 JUN 2010 9.25 116,354 3.00 2.56 100 4.8 0.9

6400 WEST ENTERPRISE DRIVE MILWAUKEE JUN 2006 28.9 22.2 JUN 2009 8.75 487,398 4.25 4.32 100 4.3 3.6

6600 NORTH INDUSTRIAL ROAD MILWAUKEE JUN 2006 4.0 2.7 DEC 2009 9.25 110,400 3.25 3.05 100 2.1 0.8

7620 SOUTH 10TH STREET MILWAUKEE JUN 2006 5.6 4.6 JUN 2009 9.00 150,192 3.00 3.33 100 4.3 1.1

N53 W24700 CORPORATE CIRCLE MILWAUKEE JUN 2006 8.5 4.8 JUN 2009 9.25 192,000 3.25 VACANT 0 – 1.4

5450 KRAFT AVENUE GRAND RAPIDS JUN 2006 2.9 2.8 DEC 2009 9.50 31,854 8.50 8.38 100 8.8 0.2

ToTal/average 594.1 412.6 9.002 13,429,539 3.40 3.33 80.8 4.9

1 Internal and external capitalisation rates.2 Weighted by book value.


ChICAGO MARKET OVERVIEw

CHiCAgo inDustRiAl suB-MARket oveRvieW As At 2Q 2010

inDustRiAl suB-MARket

gRoss BuilDing

(sf)

AvAilABility RAte

(%)

vACAnCy RAte

(%)

ytD useR sAle & leAse

ACtivity (sf)

2010 net ABsoRPtion

(sf)

unDeR ConstRuCtion

(sf)

AveRAge Asking

leAse RAnge (us$/sf/yR)1

McHENRY COUNTY (1) 18,513,380 15.3% 12.8% 404,678 (350,267) 0 $2.50 TO $3.95

LAKE COUNTY (2) 77,665,645 12.8% 11.0% 999,636 (964,550) 0 $3.00 TO $5.95

NE COOK COUNTY (3) 61,873,612 7.6% 6.5% 821,292 (481,861) 0 $3.25 TO $5.25

NW COOK COUNTY (4) 37,562,321 12.9% 12.1% 921,713 99,586 0 $3.95 TO $4.45

N KANE COUNTY (5) 25,964,810 11.4% 9.7% 201,944 196,958 35,000 $3.55 TO $4.35

N DUPAGE COUNTY (6) 30,918,669 13.8% 10.5% 761,752 133,534 0 $3.25 TO $4.60

O’HARE (7) 109,909,672 13.4% 11.1% 2,743,127 (773,184) 0 $3.50 TO $6.25

CITY NORTH (8) 109,267,431 7.0% 5.8% 1,111,163 129,103 0 $2.00 TO $7.00

NEAR WEST SUBURBS (9) 101,242,695 10.8% 8.9% 1,509,669 (312,810) 84,000 $2.75 TO $5.00

WEST SUBURBS (10) 41,403,082 8.7% 8.2% 729,624 48,404 0 $3.25 TO $5.25

CENTRAL KANE/DUPAGE (11) 36,720,867 9.4% 7.4% 1,393,417 859,843 0 $2.95 TO $4.75

FAR WEST SUBURBS (12) 61,997,675 13.9% 12.3% 1,875,183 245,917 152,968 $2.95 TO $4.75

SW SUBURBS (13) 67,393,015 13.0% 10.2% 1,226,935 233,940 137,078 $2.75 TO $4.95

FAR SW SUBURBS (14) 73,408,067 13.8% 10.6% 1,870,260 (154,479) 0 $2.95 TO $4.95

CITY SOUTH (15) 140,721,809 9.6% 7.9% 746,792 (1,294,902) 91,200 $2.50 TO $4.25

SOUTH SUBURBS (16) 54,509,025 15.5% 14.2% 481,713 (392,653) 0 $3.00 TO $4.50

JOLIET AREA (17) 49,345,132 19.0% 17.6% 537,555 (989,575) 217,712 $2.50 TO $4.25

Metro subtotal 1,098,416,907 11.7% 9.9% 18,336,453 (3,766,996) 717,958

NW INDIANA (18) 29,581,115 9.0% 8.7% 745,969 612,085 0 $2.50 TO $4.50

KENOSHA/RACINE (19) 53,588,897 9.5% 8.5% 1,110,347 274,046 0 $2.25 TO $4.25

total 1,181,586,919 11.6% 9.8% 20,192,769 (2,880,865) 717,958

Source: CBRE.1 Average asking net lease rates represent industrial spaces of 50,000 square feet or larger.

620 SOUTh bUTTERFIELD ROAD MUNDELEIN, IL

11

CHiCAgo inDustRiAl MARket — uPDAteThe Chicago industrial market, as defined by CBRE, comprises 19 sub-markets (or zones) encompassing northeast Illinois, northwest Indiana and southeast Wisconsin. The following table provides a brief summary of the Chicago region’s industrial sub-markets as at 30 June 2010.

Chicago is one of the primary transport distribution hubs of the US. As at 30 June 2010, due to the Chicago metropolitan area’s centralised location and extensive transportation system, the Metropolitan Chicago Industrial Market achieved the nation’s number two industrial base position with over 1.2 billion square feet behind Los Angeles Metro (Source: CBRE).

Its extensive transportation facilities give local firms ready access to national and international markets and suppliers.

Chicago’s industrial strength is broad based:

Chicago is the second largest industrial real estate >market in the US (by size), behind Los Angeles;

demand for industrial real estate in Chicago remains strong. >Chicago has become the major crossroad of the US’s global trade and, as a result, logistics have become a driving force in the Chicago industrial market in recent years and we anticipate this will continue in 2010;

10 interstate highways serve the metropolitan >Chicago area — 50 per cent of North American industry is within one day’s truck delivery;

primary railroad hub, with 14 freight rail lines and >11 trunk rail lines — 50 per cent of all US rail freight passes through Chicago’s yards; and

major international inland port, handling over 2 million >tonnes of cargo annually.

The vacancy rate in the Chicago metropolitan statistical area as at 30 June 2010 stood at 11.6 per cent, an increase of 20 basis points on 31 December 2010.

The largest industrial sub-markets in Chicago are City South, O’Hare and City North, which are generally the older, more established areas in and around the city. However, most of the leasing, sales and new development activity is taking place in the suburban sub-markets, mirroring the outward migration patterns of the population in general.

The following graph provides an historical trend of leasing activity in the Chicago metropolitan area industrial sub-market.

VACANCY RATE %

Vacancy rate

Source: CBRE

Lease rate

0

2

4

6

8

10

12US$/sf

0

1

2

3

6

4

5

Q30

7

Q4

07

Q10

8

Q20

8

Q30

8

Q4

08

Q10

9

Q20

9

Q30

9

Q4

09

Q11

0

Q2

10

HistoRiCAl tRenD of sAle AnD leAsing ACtivity – CHiCAgo MetRoPolitAn AReA inDustRiAl suB-MARket


leAse exPiRy PRofile1

Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

10.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

90.0%

PRoPeRty stAtistiCsYEAR BUILT 1940’s – 1982TOTAL GLA (SF) 1,331,727TOTAL INDUSTRIAL GLA (SF) 1,324,248TOTAL OFFICE GLA (SF) 7,479SITE AREA (ACRES) 61.5LOADING FACILITIES DOCK HIGH AND DRIVE-IN ENTRANCES,

EACH WITH OVERHEAD DOORSAVERAGE CLEARANCE (FT) 20–30PASSING RENT (US$/SF) 1.74MARKET RENT (US$/SF) 2.00OCCUPANCY (%) 90WEIGHTED LEASE TERM (YEARS)1 10.5

vAluAtion suMMARyVALUATION (US$ MILLION) 22.2VALUATION (US$/SF) 16.7YIELD (%) 9.5CAPITALISATION RATE (%) 9.75TERMINAL YIELD (%) 10.00DISCOUNT RATE (%) 11.00

1 By income.

308 SOUTh DIVISION STREET, hARVARD, IL

suB-MARketMcHenry County

DesCRiPtionThe property is located 75 miles northwest of the Chicago Central Business District located in an older area with much of the residential development occurring in the 1950’s and 1960’s. Primary access to the property is via the Interstate Highway 90 and Highways 23 and 173.

The major tenant is True Value Corporation which is a large co-operative of individual franchise owners and provides business guidance services such as marketing, technological and training. The most known brand of the group is True Value Hardware.

leAse exPiRy PRofile1leAse exPiRy PRofile1

PRoPeRty stAtistiCsYEAR BUILT 2001BUILDING CONSTRUCTION PRE-CAST CONCRETETOTAL GLA (SF) 499,200TOTAL INDUSTRIAL GLA (SF) 486,700TOTAL OFFICE GLA (SF) 12,500SITE AREA (ACRES) 38.0LOADING FACILITIES 35 ExTERIOR DOCKSAVERAGE CLEARANCE (FT) 32PASSING RENT (US$/SF) 2.41MARKET RENT (US$/SF) 2.50OCCUPANCY (%) 100WEIGHTED LEASE TERM (YEARS)1 3.0


1 By income.

1750 SOUTh LINCOLN DRIVE, FREEPORT, IL


DesCRiPtion1750 South Lincoln Drive was purpose built for Newell Window Furnishing in 2001, a wholly owned subsidiary of Newell Rubbermaid.

The property is located within an area of new industrial development within the City of Freeport. The property forms part of the Lincoln Industrial Park. The park has approximately 110 acres of land.

INVESTMENT PORTFOLIO

Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

0.0%

0.0%

100.0%

0.0%

0.0%

0.0%

0.0%

0.0%

13

Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

0.0%

100.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%


PRoPeRty stAtistiCsYEAR BUILT 1989BUILDING CONSTRUCTION CONCRETE BLOCKTOTAL GLA (SF) 77,924TOTAL INDUSTRIAL GLA (SF) 75,964TOTAL OFFICE GLA (SF) 1,960SITE AREA (ACRES) 4.9LOADING FACILITIES 8 ExTERIOR DOCKS

1 DRIVE-IN DOORAVERAGE CLEARANCE (FT) 21.0PASSING RENT (US$/SF) 3.94MARKET RENT (US$/SF) 4.25OCCUPANCY (%) 100WEIGHTED LEASE TERM (YEARS)1 1.6


1 By income.

28170 NORTh KEITh DRIVE, LAKE FOREST, IL

suB-MARketLake County

DesCRiPtionThe property is located in an established business park known as the Bradley Business Centre and is approximately 30 miles from the Chicago Central Business District. Primary access to the property is via Tri-State Tollway (also known as Interstate 94) which connects the area to the Chicago CBD and Milwaukee.

The property is leased to Popcorn Factory which was acquired by 1-800-flowers.com in May 2002. Popcorn Factory also tenants an adjoining property that is not owned by the Trust.


Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

100.0%

PRoPeRty stAtistiCsYEAR BUILT 1952, RENOVATED IN 1997BUILDING CONSTRUCTION INSULATED METAL/CONCRETE TOTAL GLA (SF) 126,304TOTAL INDUSTRIAL GLA (SF) 121,782TOTAL OFFICE GLA (SF) 4,522SITE AREA (ACRES) 17.9LOADING FACILITIES 11 ExTERIOR DOCKS

1 DRIVE-IN DOORAVERAGE CLEARANCE (FT) 14–32PASSING RENT (US$/SF) 3.19MARKET RENT (US$/SF) 3.50OCCUPANCY (%) 100WEIGHTED LEASE TERM (YEARS)1 10.5


1 By income.

875 wEST DIGGINS STREET, hARVARD, IL


DesCRiPtionThe property is located on the edge of Harvard, Illinois and has good access to Highway 173 and Highway 14.

The property is fully leased to Consolidated Container Company, a leading supplier of rigid plastic packaging.


leAse exPiRy PRofile1 leAse exPiRy PRofile1

INVESTMENT PORTFOLIO (CONTINUED)

Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

19.0%

0.0%

81.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

81.0%

19.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

PRoPeRty stAtistiCsYEAR BUILT 1978BUILDING CONSTRUCTION MASONRY AND METAL PANELTOTAL GLA (SF) 100,000TOTAL INDUSTRIAL GLA (SF) 94,100TOTAL OFFICE GLA (SF) 5,900SITE AREA (ACRES) 5.0LOADING FACILITIES 10 INTERIOR DOCKS

1 DRIVE-IN DOORAVERAGE CLEARANCE (FT) 24PASSING RENT (US$/SF) 3.32MARKET RENT (US$/SF) 3.50OCCUPANCY (%) 81WEIGHTED LEASE TERM (YEARS)1 1.4


1 By income.

3841–3865 SwANSON COURT, GURNEE, IL


DesCRiPtionThe property is located 35 miles north of the Chicago Central Business District and the surrounding communities include Waukegan, Park City Grayslake, Wadsworth and Beach Park. The property is in an area which has a combination of industrial, commercial and residential properties. The area is generally considered to be well developed, although there are opportunities for development with vacant land available.

Primary access is via the Interstate 94 which is two miles from the property where a full service interchange is afforded with Illinois Route 132.

PRoPeRty stAtistiCsYEAR BUILT 1958BUILDING CONSTRUCTION CONCRETE BLOCKTOTAL GLA (SF) 304,641TOTAL INDUSTRIAL GLA (SF) 295,881TOTAL OFFICE GLA (SF) 8,760SITE AREA (ACRES) 14.5LOADING FACILITIES 12 ExTERIOR DOCKS WITH LEVELERS

9 INTERIOR DOCKS WITH LEVELERS 1 DRIVE-IN DOOR

AVERAGE CLEARANCE (FT) 22PASSING RENT (US$/SF) 2.63MARKET RENT (US$/SF) 3.25OCCUPANCY (%) 19WEIGHTED LEASE TERM (YEARS)1 0.9

vAluAtion suMMARyVALUATION (US$ MILLION) 4.3VALUATION (US$/SF) 14.2YIELD (%) –4.4CAPITALISATION RATE (%) 9.75TERMINAL YIELD (%) 10.00DISCOUNT RATE (%) 11.50

1 By income.

3145 CENTRAL AVENUE, wAUKEGAN, IL


DesCRiPtionThe property is located in the village of Waukegan, in eastern Lake County, approximately 40 miles north of the Chicago Central Business District. The primary commercial thoroughfare includes Green Bay Road, a major commercial thoroughfare in the area consisting of various uses.

Primary access to the neighbourhood is provided by Interstate 94 (Tri-State Tollway), I-94 connects Waukegan to the Chicago Central Business District to the south and Milwaukee, Wisconsin, to the north.

15


Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

20.0%

0.0%

0.0%

0.0%

15.0%

0.0%

46.0%

0.0%

20.0%

Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

100.0%

0.0%

0.0%

PRoPeRty stAtistiCsYEAR BUILT 1977BUILDING CONSTRUCTION PAINTED MASONRY TOTAL GLA (SF) 122,712TOTAL INDUSTRIAL GLA (SF) 111,232TOTAL OFFICE GLA (SF) 11,480SITE AREA (ACRES) 7.5LOADING FACILITIES 10 INTERIOR DOORS

6 RAIL DOORS 1 DRIVE-IN DOOR



1 By income.

1810 NORThwESTERN DRIVE, GURNEE, IL


DesCRiPtion The property is located in an industrial area that is surrounded primarily by residential areas. It is in good proximity to major highways in the area, including Interstate 94.

The building covers 122,712 square feet of gross lettable area with 10 interior doors, six rail doors and one drive-in door.

PRoPeRty stAtistiCsYEAR BUILT 1989BUILDING CONSTRUCTION BRICK TOTAL GLA (SF) 39,364TOTAL INDUSTRIAL GLA (SF) 29,722TOTAL OFFICE GLA (SF) 9,642SITE AREA (ACRES) 7.4LOADING FACILITIES 4 INTERIOR DOCKS

2 DRIVE-IN DOCKSAVERAGE CLEARANCE (FT) 18PASSING RENT (US$/SF) 8.04MARKET RENT (US$/SF) 6.50OCCUPANCY (%) 100WEIGHTED LEASE TERM (YEARS)1 5.9


1 By income.

1100 LAKESIDE DRIVE, GURNEE, IL


DesCRiPtionThe property is located within an industrial office park bordered by highways and residential areas. It has excellent access to major highways.

1100 Lakeside Drive was built in 1989 and renovated in 2003. Caremark, Inc. fully occupies the property with a lease until May 2016. Caremark is one of the largest pharmaceutical services companies in the US.




Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

5.0%

0.0%

17.0%

0.0%

28.0%

0.0%

0.0%

0.0%

49.0%

Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

100.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

PRoPeRty stAtistiCsYEAR BUILT 1960BUILDING CONSTRUCTION BRICK AND METALTOTAL GLA (SF) 300,791TOTAL INDUSTRIAL GLA (SF) 255,063TOTAL OFFICE GLA (SF) 45,728SITE AREA (ACRES) 11.5LOADING FACILITIES 12 DOCKS



1 By income.

5990 wEST TOUhY AVENUE, NILES, IL

suB-MARket Northeast Cook County

DesCRiPtionThe property is located 13 miles southwest of the Chicago Central Business District (30 minutes) and a nine mile drive to O’Hare International Airport. The property is situated in an older area and is mainly residential. The property has prime access to the major routes — Interstate Highways 90 and 94.

The property has four tenants with 94 per cent of the lease area leased until 2011. The major tenant, Arrow Financial Services, provides accounts receivable and collection services and has been in business since 1961.

PRoPeRty stAtistiCsYEAR BUILT 1990BUILDING CONSTRUCTION PAINTED MASONRYTOTAL GLA (SF) 24,237TOTAL INDUSTRIAL GLA (SF) 3,552TOTAL OFFICE GLA (SF) 20,685SITE AREA (ACRES) 1.2LOADING FACILITIES 4 DRIVE-IN DOORSAVERAGE CLEARANCE (FT) 16PASSING RENT (US$/SF) 10.59MARKET RENT (US$/SF) 9.00OCCUPANCY (%) 100WEIGHTED LEASE TERM (YEARS)1 0.5


1 By income.

620 SOUTh bUTTERFIELD ROAD, MUNDELEIN, IL


DesCRiPtionThe property is located in an area of light industrial and residential developments. It has close access to Interstate 94.

The property is fully leased to Corcom/Tyco Electronics who are one of the world’s largest passive component manufacturers, with over 250,000 employees worldwide. The company specialises in a range of electronics to state-of-the-art fire and security systems.

17


Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

0.0%

0.0%

100.0%

0.0%

0.0%

0.0%

0.0%

0.0%

Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

100.0%

PRoPeRty stAtistiCsYEAR BUILT 1992BUILDING CONSTRUCTION PAINTED MASONRY TOTAL GLA (SF) 50,400TOTAL INDUSTRIAL GLA (SF) 3,119TOTAL OFFICE GLA (SF) 47,281SITE AREA (ACRES) 6.0LOADING FACILITIES 3 INTERIOR DOCKSAVERAGE CLEARANCE (FT) 20PASSING RENT (US$/SF) 14.53MARKET RENT (US$/SF) 10.00OCCUPANCY (%) 100WEIGHTED LEASE TERM (YEARS)1 2.5


1 By income.

1301 TOwER ROAD, SChAUMbURG, IL

suB-MARket Northwest Cook County

DesCRiPtionThe property is located within an area of office and industrial properties in very close proximity to the intersection of Interstates 90 and 290.

The property is fully leased by HSBC Card Services with their lease expiring in December 2012.

PRoPeRty stAtistiCsYEAR BUILT 1999BUILDING CONSTRUCTION TILT-UP CONCRETE TOTAL GLA (SF) 94,300TOTAL INDUSTRIAL GLA (SF) 80,300TOTAL OFFICE GLA (SF) 14,000SITE AREA (ACRES) 6.3LOADING FACILITIES 4 ExTERIOR DOCKS



1 By income.

3602 NORTh KENNICOTT AVENUE, ARLINGTON hEIGhTS, IL

suB-MARket Northwest Cook County

DesCRiPtionThe property is located about 35 miles northwest of the Chicago Central Business District (60 minutes) and is a 15 mile drive to O’Hare International Airport. The property is surrounded by modern development and is a mix of commercial and residential tenants. Primary access to the property is provided by the Interstate Highway 94.




Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

100.0%

Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

100.0%

0.0%

PRoPeRty stAtistiCsYEAR BUILT 1986BUILDING CONSTRUCTION PAINTED MASONRY TOTAL GLA (SF) 20,757TOTAL INDUSTRIAL GLA (SF) 16,654TOTAL OFFICE GLA (SF) 4,103SITE AREA (ACRES) 2.2LOADING FACILITIES 2 INTERIOR DOCKSAVERAGE CLEARANCE (FT) 18PASSING RENT (US$/SF) 8.03MARKET RENT (US$/SF) 8.00OCCUPANCY (%) 100WEIGHTED LEASE TERM (YEARS)1 9.1


1 By income.

1665 PENNY LANE, SChAUMbURG, IL

suB-MARketNorthwest Cook County

DesCRiPtionThe property is located within an area of office and industrial buildings. It is located in close proximity to Interstate 90 and Interstate 290.

The property is fully leased to Sandvik, a leading global industrial group until July 2019.

PRoPeRty stAtistiCsYEAR BUILT 1986BUILDING CONSTRUCTION PAINTED MASONRYTOTAL GLA (SF) 27,742TOTAL INDUSTRIAL GLA (SF) 9,710TOTAL OFFICE GLA (SF) 18,032SITE AREA (ACRES) 1.9LOADING FACILITIES 1 DRIVE-IN DOORAVERAGE CLEARANCE (FT) 19PASSING RENT (US$/SF) 5.45MARKET RENT (US$/SF) 7.25OCCUPANCY (%) 100WEIGHTED LEASE TERM (YEARS)1 6.6


1 By income.

1605 PENNY LANE, SChAUMbURG, IL


DesCRiPtionThe property is located within an area of office and industrial buildings. It is located in close proximity to Interstate 90 and Interstate 290.

1605 Penny Lane is the headquarters for a large manufacturer, Sodick, Inc. Sodick produces EDM machines which are used for the production of dies and molds and various applications which cannot be produced by standard machining methods.

19


Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

100.0%

Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

100.0%

0.0%

0.0%

PRoPeRty stAtistiCsYEAR BUILT 1974BUILDING CONSTRUCTION PAINTED MASONRY TOTAL GLA (SF) 86,254TOTAL INDUSTRIAL GLA (SF) 68,000TOTAL OFFICE GLA (SF) 18,254SITE AREA (ACRES) 6.0LOADING FACILITIES 3 ExTERIOR DOCKSAVERAGE CLEARANCE (FT) 22PASSING RENT (US$/SF) 5.74MARKET RENT (US$/SF) 5.85OCCUPANCY (%) 100WEIGHTED LEASE TERM (YEARS)1 8.0


1 By income.

900 wEST UNIVERSITY DRIVE, ARLINGTON hEIGhTS, IL


DesCRiPtionThe property is an office and industrial development with good access to Highway 53. It is located 29 miles to the northwest of the Chicago CBD.

This property is fully leased to Teleflex Medical until June 2018. Teleflex is a medical manufacturing firm, specialising in disposable products for respiratory care and anaesthesia.

PRoPeRty stAtistiCsYEAR BUILT 1977BUILDING CONSTRUCTION MASONRY AND BRICKTOTAL GLA (SF) 71,100TOTAL INDUSTRIAL GLA (SF) 63,020TOTAL OFFICE GLA (SF) 8,080SITE AREA (ACRES) 3.2LOADING FACILITIES 6 ExTERIOR DOCKSAVERAGE CLEARANCE (FT) 18PASSING RENT (US$/SF) 1.95MARKET RENT (US$/SF) 4.25OCCUPANCY (%) 100WEIGHTED LEASE TERM (YEARS)1 6.0


1 By income.

514–532 hICKS ROAD, PALATINE, IL


DesCRiPtionThe property is located in an area of commercial and residential development, close to Route 53 which provides access to Interstate 290 and other Chicago area expressways.




Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

0.0%

0.0%

0.0%

35.0%

65.0%

0.0%

0.0%

0.0%

Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

100.0%

0.0%

PRoPeRty stAtistiCsYEAR BUILT 1987BUILDING CONSTRUCTION BRICK AND MASONRYTOTAL GLA (SF) 48,230TOTAL INDUSTRIAL GLA (SF) 42,925TOTAL OFFICE GLA (SF) 5,305SITE AREA (ACRES) 3.5LOADING FACILITIES 4 INTERIOR DOCKSAVERAGE CLEARANCE (FT) 19PASSING RENT (US$/SF) 8.05MARKET RENT (US$/SF) 7.00OCCUPANCY (%) 100WEIGHTED LEASE TERM (YEARS)1 3.9

vAluAtion suMMARyVALUATION (US$ MILLION) 3.3VALUATION (US$/SF) 68.4YIELD (%) 11.6CAPITALISATION RATE 9.25TERMINAL YIELD (%) 9.50DISCOUNT RATE (%) 10.25

1 By income.

800–850 REGENCY DRIVE, GLENDALE hEIGhTS, IL

suB-MARketNorth DuPage County

DesCRiPtionThe subject property is located in the neighbourhood of Glendale Heights, situated in the northeastern section of DuPage County, approximately 28 miles west of Chicago’s Central Business District.

The property is located in a predominantly industrial area that flanks Army Trail Road and Glen Ellyn Road.

PRoPeRty stAtistiCsYEAR BUILT 1994BUILDING CONSTRUCTION PRE-CAST CONCRETE WALLS TOTAL GLA (SF) 144,578TOTAL INDUSTRIAL GLA (SF) 128,578TOTAL OFFICE GLA (SF) 16,000SITE AREA (ACRES) 15.1LOADING FACILITIES 2 INTERIOR DOCKS

7 ExTERIOR DOCKS 1 DRIVE-IN DOOR



1 By income.

1111 bOwES ROAD, ELGIN, IL

suB-MARketNorth Kane County

DesCRiPtionThe property is located within an industrial and office area in the North Kane County sub-market. This property is one of the few that has extra area surrounding the building.

US Can Corporation, a leading supplier of metal and plastic containers, fully occupies the 144,578 square foot property until March 2017.

21


Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

0.0%

46.0%

0.0%

0.0%

54.0%

0.0%

0.0%

0.0%

Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

20.0%

0.0%

36.0%

16.0%

12.0%

0.0%

0.0%

16.0%

0.0%

PRoPeRty stAtistiCsYEAR BUILT 1964BUILDING CONSTRUCTION CONCRETE BLOCKS AND METALTOTAL GLA (SF) 98,879TOTAL INDUSTRIAL GLA (SF) 88,091TOTAL OFFICE GLA (SF) 10,788SITE AREA (ACRES) 5.1LOADING FACILITIES 13 DOCK HIGH LOADING ENTRANCES

2 DRIVE-IN DOORSAVERAGE CLEARANCE (FT) 20PASSING RENT (US$/SF) 3.92MARKET RENT (US$/SF) 3.75OCCUPANCY (%) 100WEIGHTED LEASE TERM (YEARS)1 2.9


1 By income.

1796 ShERwIN AVENUE, DES PLAINES, IL

suB-MARketO’Hare

DesCRiPtionThe property is located 17 miles northwest of the Chicago CBD (30 minutes) and is approximately nine miles to O’Hare International Airport. Primary access to the property is via Interstate Highway 90 connecting it to the City of Chicago while the Interstate 94 leads to Wisconsin.

The property is 46 per cent leased to National Equipment Services (NES) until February 2012. NES is a leading equipment rental business with over 130 locations in 34 states in the US and Ontario, Canada.

PRoPeRty stAtistiCsYEAR BUILT 1968BUILDING CONSTRUCTION BRICK AND METALTOTAL GLA (SF) 150,000TOTAL INDUSTRIAL GLA (SF) 136,500TOTAL OFFICE GLA (SF) 13,500SITE AREA (ACRES) 6.5LOADING FACILITIES 14 INTERIOR DOCKSAVERAGE CLEARANCE (FT) 17PASSING RENT (US$/SF) 3.03MARKET RENT (US$/SF) 4.00OCCUPANCY (%) 80WEIGHTED LEASE TERM (YEARS)1 2.4


1 By income.

1445–1645 GREENLEAF AVENUE, ELK GROVE VILLAGE, IL

suB-MARketO’Hare

DesCRiPtionThe property is located in a predominantly industrial area northwest of O’Hare International Airport. The area is a mature industrial district with a majority of properties possessing railroad access due to the grid pattern of roadways and railroad right-of-ways.




Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

100.0%

Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

100.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

PRoPeRty stAtistiCsYEAR BUILT 1995BUILDING CONSTRUCTION PAINTED MASONRYTOTAL GLA (SF) 105,000TOTAL INDUSTRIAL GLA (SF) 95,000TOTAL OFFICE GLA (SF) 10,000SITE AREA (ACRES) 4.4LOADING FACILITIES 6 ExTERIOR DOCKSAVERAGE CLEARANCE (FT) 28PASSING RENT (US$/SF) 3.45MARKET RENT (US$/SF) 5.00OCCUPANCY (%) 100WEIGHTED LEASE TERM (YEARS)1 9.8


1 By income.

2600 ELMhURST ROAD, ELK GROVE VILLAGE, IL

suB-MARketO’Hare

DesCRiPtionThe property is located in an industrial area next to O’Hare International Airport with excellent access to Interstates 90, 290 and 294.

PRoPeRty stAtistiCsYEAR BUILT 1965BUILDING CONSTRUCTION BRICK AND METALTOTAL GLA (SF) 58,627TOTAL INDUSTRIAL GLA (SF) 48,835TOTAL OFFICE GLA (SF) 9,792SITE AREA (ACRES) 3.2LOADING FACILITIES 8 ExTERIOR TRUCK DOCKSAVERAGE CLEARANCE (FT) 16PASSING RENT (US$/SF) 4.98MARKET RENT (US$/SF) 5.25OCCUPANCY (%) 100WEIGHTED LEASE TERM (YEARS)1 0.6


1 By income.

1850 GREENLEAF AVENUE, ELK GROVE VILLAGE, IL

suB-MARketO’Hare

DesCRiPtionThe property is located in a predominantly industrial area northwest of O’Hare International Airport. The area is a mature industrial district with a majority of properties possessing railroad access due to the grid pattern of roadways and railroad right-of-ways.

23


Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

100.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

100.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

PRoPeRty stAtistiCsYEAR BUILT 1986BUILDING CONSTRUCTION PAINTED MASONRYTOTAL GLA (SF) 57,005TOTAL INDUSTRIAL GLA (SF) 39,183TOTAL OFFICE GLA (SF) 17,822SITE AREA (ACRES) 3.0LOADING FACILITIES 5 ExTERIOR DOCKS

6 INTERIOR DOCKS 1 DRIVE-IN DOOR

AVERAGE CLEARANCE (FT) 22PASSING RENT (US$/SF) VACANTMARKET RENT (US$/SF) 7.00OCCUPANCY (%) —WEIGHTED LEASE TERM (YEARS)1 —

vAluAtion suMMARyVALUATION (US$ MILLION) 4.1VALUATION (US$/SF) 71.9YIELD (%) VACANTCAPITALISATION RATE 8.75TERMINAL YIELD (%) 9.00DISCOUNT RATE (%) 10.00

1 By income.

712 NORTh CENTRAL AVENUE, wOOD DALE, IL

suB-MARketO’Hare

DesCRiPtionThe property is located in a primarily commercial and industrial municipality.

Interstate 290/State Highway 53, the Elgin-O’Hare Expressway and Irving Park Road (Route 19) are all in the immediate vicinity.

PRoPeRty stAtistiCsYEAR BUILT 1971BUILDING CONSTRUCTION PAINTED MASONRYTOTAL GLA (SF) 42,490TOTAL INDUSTRIAL GLA (SF) 34,379TOTAL OFFICE GLA (SF) 8,111SITE AREA (ACRES) 2.6LOADING FACILITIES 6 ExTERIOR DOCKS



1 By income.

850 ARThUR AVENUE, ELK GROVE VILLAGE, IL

suB-MARketO’Hare

DesCRiPtionThe property is located in an industrial area to the northwest of O’Hare International Airport. It has access to Interstate 90 and Interstate 290.

850 Arthur Avenue is fully leased to Sterling Hydraulics, a designer and manufacturer of hydraulic cartridge valves, solenoid valves and proportional solenoid valves.




Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

100.0%

0.0%

Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

64.0%

0.0%

36.0%

PRoPeRty stAtistiCsYEAR BUILT 1948BUILDING CONSTRUCTION MASONRY TOTAL GLA (SF) 295,362TOTAL INDUSTRIAL GLA (SF) 287,862TOTAL OFFICE GLA (SF) 7,500SITE AREA (ACRES) 9.8LOADING FACILITIES 11 ExTERIOR DOCKS

2 DRIVE-IN DOORSAVERAGE CLEARANCE (FT) 12–19PASSING RENT (US$/SF) 3.04MARKET RENT (US$/SF) 2.95OCCUPANCY (%) 100WEIGHTED LEASE TERM (YEARS)1 6.3


1 By income.

1900 NORTh 5Th AVENUE, RIVER GROVE, IL

suB-MARketNear West Suburbs

DesCRiPtionRiver Grove is located just three miles south of O’Hare International Airport. The surrounding communities include Franklin Park to the north, Melrose Park and Stone Park to the south, Elmwood Park to the east and Northlake to the west. River Grove is about 14 miles west of the Chicago Central Business District.

The River Grove property is fully leased to Bazaar, Inc., a group specialising in the redistribution of surplus wholesale products to the retail market.

PRoPeRty stAtistiCsYEAR BUILT 1999BUILDING CONSTRUCTION STEEL ExTERIOR WALLS TOTAL GLA (SF) 251,584TOTAL INDUSTRIAL GLA (SF) 229,600TOTAL OFFICE GLA (SF) 21,984SITE AREA (ACRES) 12.5LOADING FACILITIES 27 ExTERIOR DOCKS



1 By income.

100 wEST whITEhALL DRIVE, NORThLAKE, IL

suB-MARketNear West Suburbs

DesCRiPtionThe property is located in an established industrial area consisting of warehouse and light manufacturing properties.

100 West Whitehall is 64 per cent occupied by Champion Transportation, a logistics business that has national coverage in the hauling and storage business.

25


Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

65.0%

0.0%

35.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

30.0%

0.0%

0.0%

0.0%

0.0%

0.0%

70.0%

0.0%

0.0%

PRoPeRty stAtistiCsYEAR BUILT 1981BUILDING CONSTRUCTION BRICK FAçADETOTAL GLA (SF) 152,200TOTAL INDUSTRIAL GLA (SF) 139,700TOTAL OFFICE GLA (SF) 12,500SITE AREA (ACRES) 5.9LOADING FACILITIES 15 ExTERIOR DOCKS

3 RAIL DOORS 3 DRIVE-IN DOORS



1 By income.

200 SOUTh MITChELL COURT, ADDISON, IL

suB-MARketWest Suburbs

DesCRiPtionThe property is located within a primarily industrial area in close proximity to Interstates 355, 290 and Highway 64.

The asset is partly leased to Morton International. Morton International, is a leading producer of salt for grocery, water softening, ice control, agricultural and industrial uses.

PRoPeRty stAtistiCsYEAR BUILT 1989BUILDING CONSTRUCTION PRE-CAST CONCRETE PANELSTOTAL GLA (SF) 67,935TOTAL INDUSTRIAL GLA (SF) 42,328TOTAL OFFICE GLA (SF) 25,607SITE AREA (ACRES) 3.6LOADING FACILITIES 5 INTERIOR DOCKS



1 By income.

342–346 CAROL LANE, ELMhURST, IL


DesCRiPtionThe property is in a fully developed office and industrial area that has excellent access to Interstates 290, 294, 355 and the O’Hare International Airport.

342-346 Carol Lane is 70 per cent occupied by the manufacturing company Semblex Corporation.




Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

0.0%

0.0%

100.0%

0.0%

0.0%

0.0%

0.0%

0.0%

Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

100.0%

PRoPeRty stAtistiCsYEAR BUILT 1980BUILDING CONSTRUCTION PRE-CAST CONCRETE

AND STEELTOTAL GLA (SF) 99,684TOTAL INDUSTRIAL GLA (SF) 91,434TOTAL OFFICE GLA (SF) 8,250SITE AREA (ACRES) 4.6LOADING FACILITIES 8 INTERIOR DOCKSAVERAGE CLEARANCE (FT) 22PASSING RENT (US$/SF) 3.51MARKET RENT (US$/SF) 3.50OCCUPANCY (%) 100WEIGHTED LEASE TERM (YEARS)1 2.8


1 By income.

1020 FRONTENAC ROAD, NAPERVILLE, IL

suB-MARketFar West Suburbs

DesCRiPtionThe property is located in Naperville, a predominantly industrial area in Western DuPage County with Kane County on its western border. The property is situated in an area that flanks the Elgin, Joliet and Eastern Railroad right-of-way, which is situated immediately west of the subject property.

The property will be leased to Presort Solutions until April 2013.

PRoPeRty stAtistiCsYEAR BUILT 2003BUILDING CONSTRUCTION PAINTED MASONRYTOTAL GLA (SF) 61,054TOTAL INDUSTRIAL GLA (SF) 37,654TOTAL OFFICE GLA (SF) 23,400SITE AREA (ACRES) 3.0LOADING FACILITIES 2 ExTERIOR DOCKSAVERAGE CLEARANCE (FT) 24PASSING RENT (US$/SF) 7.17MARKET RENT (US$/SF) 6.00OCCUPANCY (%) 100WEIGHTED LEASE TERM (YEARS)1 7.5


1 By income.

5101 DARMSTADT ROAD, hILLSIDE, IL


DesCRiPtionThe property is located in a fully built-out light industrial park.

Due to the area’s central location, access to interstate highways and good supply of labour, the area should remain a good location for industrial uses.

27


Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

100.0%

Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

100.0%

0.0%

PRoPeRty stAtistiCsYEAR BUILT 1997BUILDING CONSTRUCTION PRE-CAST CONCRETETOTAL GLA (SF) 440,343TOTAL INDUSTRIAL GLA (SF) 369,318TOTAL OFFICE GLA (SF) 71,025SITE AREA (ACRES) 55.3LOADING FACILITIES 18 ExTERIOR DOCKS



1 By income.

2727 wEST DEIhL ROAD, NAPERVILLE, IL


DesCRiPtionThe property is located about 26 miles from the Chicago Central Business District (40 to 60 minutes) and 30 miles from O’Hare International Airport (40 to 60 minutes). The immediate area is surrounded by mostly warehouse, distribution and light manufacturing buildings.

The property has a significantly higher percentage of office finish which is uncharacteristic of a warehousing facility.


vAluAtion suMMARyVALUATION (US$ MILLION) 7.1VALUATION (US$/SF) 43.8YIELD (%) –0.6CAPITALISATION RATE 9.0TERMINAL YIELD (%) 9.25DISCOUNT RATE (%) 10.25

1 By income.

1880 COUNTRY FARM ROAD, NAPERVILLE, IL


DesCRiPtionThe property is located in a predominantly commercial/industrial area that flanks the East-West Tollway (Interstate 88). The immediate area is almost completely developed with warehouse, distribution and light manufacturing buildings as well as offices, motels and restaurants.

The asset is occupied by WestfaliaSurge, Inc. which is a manufacturer and wholesaler of dairy farm equipment, sanitation products and detergents.




Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

0.0%

0.0%

0.0%

0.0%

100.0%

0.0%

0.0%

0.0%

Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

100.0%

PRoPeRty stAtistiCsYEAR BUILT 1974BUILDING CONSTRUCTION BRICK AND METALTOTAL GLA (SF) 306,552TOTAL INDUSTRIAL GLA (SF) 305,352TOTAL OFFICE GLA (SF) 1,200SITE AREA (ACRES) 9.7LOADING FACILITIES 24 ExTERIOR DOCKS

14 RAILCAR DOORS 1 DRIVE-IN DOOR



1 By income.

6510 wEST 73RD STREET, bEDFORD PARK, IL

suB-MARketSouthwest Suburbs

DesCRiPtionThe property is located in Bedford Park, an area dominated by industrial properties. Land usage within this area is mostly zoned for industrial-related uses with limited residential developments bound to designated areas outside the industrial strip.

PRoPeRty stAtistiCsYEAR BUILT 1974BUILDING CONSTRUCTION MASONRY AND STEELTOTAL GLA (SF) 148,091TOTAL INDUSTRIAL GLA (SF) 140,686TOTAL OFFICE GLA (SF) 7,405SITE AREA (ACRES) 5.3LOADING FACILITIES 13 DOCKSAVERAGE CLEARANCE (FT) 24PASSING RENT (US$/SF) 3.16MARKET RENT (US$/SF) 3.25OCCUPANCY (%) 100WEIGHTED LEASE TERM (YEARS)1 8.0


1 By income.



DesCRiPtionPactiv Corporation currently occupies both 7200 South Mason Avenue and 6000 West 73rd Street being adjoining sites owned by the Trust. Pactiv Corporation has invested more than US$10 million in site improvements at the adjoining assets.

The property is well located near Midway International Airport and within 1.5 miles from Interstate 294 (Tri-State Tollway), which provides linkage to the state of Indiana to the south and the state of Wisconsin to the north.

29


Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

17.0%

0.0%

0.0%

0.0%

83.0%

0.0%

0.0%

0.0%

0.0%

Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

0.0%

0.0%

0.0%

100.0%

0.0%

0.0%

0.0%

0.0%

PRoPeRty stAtistiCsYEAR BUILT 1972BUILDING CONSTRUCTION INSULATED METAL AND MASONRYTOTAL GLA (SF) 630,410TOTAL INDUSTRIAL GLA (SF) 600,410TOTAL OFFICE GLA (SF) 30,000SITE AREA (ACRES) 21.4LOADING FACILITIES 36 INTERIOR DOCKS

29 ExTERIOR DOCKS 3 DRIVE-IN DOORS

AVERAGE CLEARANCE (FT) 24–26PASSING RENT (US$/SF) 2.52MARKET RENT (US$/SF) 2.65OCCUPANCY (%) 83WEIGHTED LEASE TERM (YEARS)1 4.0


1 By income.

6600 RIVER ROAD, hODGKINS, IL


DesCRiPtionAPL Logistics, a wholly owned subsidiary of Neptune Orient Lines (NOL) has leased this asset since 2004.

The property is located within an area of mature industrial development. The Hodgkins area is a cradle of tollways, freeways and major roads. The property is best served by the Interstate 55 (Stevenson Expressway).

PRoPeRty stAtistiCsYEAR BUILT 1975BUILDING CONSTRUCTION BLOCK AND METALTOTAL GLA (SF) 301,000TOTAL INDUSTRIAL GLA (SF) 301,000TOTAL OFFICE GLA (SF) —SITE AREA (ACRES) 12.3LOADING FACILITIES 32 ExTERIOR DOCKSAVERAGE CLEARANCE (FT) 24PASSING RENT (US$/SF) 2.83MARKET RENT (US$/SF) 2.75OCCUPANCY (%) 100WEIGHTED LEASE TERM (YEARS)1 3.9


1 By income.



DesCRiPtionThe property is located in Bedford Park, an area dominated by industrial properties. Land usage within this area is mostly zoned for industrial-related uses with limited residential developments bound to designated areas outside the industrial strip.

The asset adjoins 6510 West 73rd Street which is another asset of the Trust. Both assets are 100 per cent occupied by Nexus Distribution.




Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

100.0%

Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

0.0%

0.0%

0.0%

100.0%

0.0%

0.0%

0.0%

0.0%

PRoPeRty stAtistiCsYEAR BUILT 1974BUILDING CONSTRUCTION METALTOTAL GLA (SF) 207,345TOTAL INDUSTRIAL GLA (SF) 201,125TOTAL OFFICE GLA (SF) 6,220SITE AREA (ACRES) 7.0LOADING FACILITIES 15 DOCKSAVERAGE CLEARANCE (FT) 24PASSING RENT (US$/SF) 3.13MARKET RENT (US$/SF) 3.50OCCUPANCY (%) 100WEIGHTED LEASE TERM (YEARS)1 8.0


1 By income.

7200 SOUTh MASON AVENUE, bEDFORD PARK, IL


DesCRiPtionPactiv Corporation currently occupies both 7200 South Mason Avenue and 6000 West 73rd Street being adjoining sites owned by the Trust. Pactiv Corporation has invested more than US$10 million in site improvements at the adjoining assets.

PRoPeRty stAtistiCsYEAR BUILT 1973BUILDING CONSTRUCTION MASONRY AND STEELTOTAL GLA (SF) 242,690TOTAL INDUSTRIAL GLA (SF) 231,290TOTAL OFFICE GLA (SF) 11,400SITE AREA (ACRES) 11.5LOADING FACILITIES 18 INTERIOR DOCKSAVERAGE CLEARANCE (FT) 22PASSING RENT (US$/SF) 1.55MARKET RENT (US$/SF) 2.75OCCUPANCY (%) 100WEIGHTED LEASE TERM (YEARS)1 4.0


1 By income.

6751 SOUTh SAYRE AVENUE, bEDFORD PARK, IL


DesCRiPtionThe property is located nearby Bedford Park and is leased to Superior Mailing. The building offers considerable docking facilities, storage clearance with close proximity of the Bedford Park Intermodal.

31


Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

100.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

100.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

PRoPeRty stAtistiCsYEAR BUILT 1975BUILDING CONSTRUCTION METALTOTAL GLA (SF) 118,218TOTAL INDUSTRIAL GLA (SF) 116,548TOTAL OFFICE GLA (SF) 1,670SITE AREA (ACRES) 4.5LOADING FACILITIES 10 INTERIOR DOCKSAVERAGE CLEARANCE (FT) 21PASSING RENT (US$/SF) VACANTMARKET RENT (US$/SF) 3.00OCCUPANCY (%) —WEIGHTED LEASE TERM (YEARS)1 —


1 By income.

7447 SOUTh CENTRAL AVENUE, bEDFORD PARK, IL


DesCRiPtionThe property is located in an area dominated by industrial properties and is close to Interstate 55.

9700 hARLEM AVENUE, bRIDGEVIEw, IL


DesCRiPtionThe property is located in the village of Bridgeview, which is situated in the southwestern section of Cook County. In addition, Bridgeview is located in close proximity to Chicago’s Midway International Airport. The surrounding communities include Bedford Park, Chicago Ridge, Burbank and Justice, Summit and Hickory Hills.

Bridgeview is located approximately 20 miles to the southwest of the Chicago Central Business District.

PRoPeRty stAtistiCsYEAR BUILT 1967BUILDING CONSTRUCTION PRE-CAST CONCRETE AND METALTOTAL GLA (SF) 101,140TOTAL INDUSTRIAL GLA (SF) 93,959TOTAL OFFICE GLA (SF) 7,181SITE AREA (ACRES) 6.5LOADING FACILITIES 6 ExTERIOR DOCKS, 6 INTERIOR DOCKS

1 INTERIOR RAIL DOCK 2 DRIVE UP ENTRANCES

AVERAGE CLEARANCE (FT) 24-33PASSING RENT (US$/SF) –0.12MARKET RENT (US$/SF) 2.75OCCUPANCY (%) 100WEIGHTED LEASE TERM (YEARS)1 —


1 By income.




Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

43.0%

3.0%

11.0%

0.0%

0.0%

42.0%

0.0%

0.0%

0.0%

Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

100.0%

0.0%

PRoPeRty stAtistiCsYEAR BUILT 1940, RENOVATED 1978BUILDING CONSTRUCTION BRICK AND STEEL PANEL TOTAL GLA (SF) 531,460TOTAL INDUSTRIAL GLA (SF) 509,960TOTAL OFFICE GLA (SF) 21,500SITE AREA (ACRES) 46.0LOADING FACILITIES 24 TRUCK DOORSAVERAGE CLEARANCE (FT) 40PASSING RENT (US$/SF) 4.42MARKET RENT (US$/SF) 2.25OCCUPANCY (%) 57WEIGHTED LEASE TERM (YEARS)1 3.8


1 By income.

900 EAST 103RD STREET, ChICAGO, IL

suB-MARketCity South

DesCRiPtionThis property is in a predominantly industrial area that runs from Cottage Grove Avenue east to Lake Michigan. In general, the industrial uses are bounded by 95th Street to the north, the Little Calumet River to the south and Cottage Grove Avenue to the east.

The property is located at the intersection of Interstates 94 and 57 at 103rd Street. The commute to the Chicago Central Business District is approximately 12 miles and 15 minutes.

PRoPeRty stAtistiCsYEAR BUILT 2001BUILDING CONSTRUCTION PRE-CAST CONCRETE TOTAL GLA (SF) 41,600TOTAL INDUSTRIAL GLA (SF) —TOTAL OFFICE GLA (SF) 41,600SITE AREA (ACRES) 3.7PARKING FACILITIES 183 PARKING SPACESAVERAGE CLEARANCE (FT) N/APASSING RENT (US$/SF) 16.21MARKET RENT (US$/SF) 12.5OCCUPANCY (%) 100WEIGHTED LEASE TERM (YEARS)1 6.2


1 By income.

625 wILLOwbROOK CENTER PARKwAY, wILLOwbROOK, IL

suB-MARketFar Southwest Suburbs

DesCRiPtionThe property is located in an area of office and other commercial buildings and has good access to Interstate 55.

This property is fully leased until August 2016 to Viskase, a worldwide leader in the supply of cellulose, fibrous and plastic casings.

33


Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

56.0%

9.0%

36.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

0.0%

0.0%

100.0%

0.0%

0.0%

0.0%

0.0%

0.0%

PRoPeRty stAtistiCsYEAR BUILT 1976BUILDING CONSTRUCTION MASONRY AND

PRE-FABRICATED METALTOTAL GLA (SF) 400,076TOTAL INDUSTRIAL GLA (SF) 391,676TOTAL OFFICE GLA (SF) 8,400SITE AREA (ACRES) 15.1LOADING FACILITIES 27 ExTERIOR DOCKS



1 By income.

13040 SOUTh PULASKI AVENUE, ALSIP, IL

suB-MARketSouth Suburbs

DesCRiPtionThe property is located within the dense industrial district of Alsip, with close proximity to Interstate 294 (Tri-State Tollway).

The commute to the Chicago Central Business District is approximately 30 minutes. The commute to O’Hare International Airport is about 50 minutes (32 miles), while the commute to Chicago’s Midway International Airport is approximately 20 minutes (nine miles).

PRoPeRty stAtistiCsYEAR BUILT 1970BUILDING CONSTRUCTION INSULATED STEEL

ExTERIOR WALLSTOTAL GLA (SF) 260,000TOTAL INDUSTRIAL GLA (SF) 254,000TOTAL OFFICE GLA (SF) 6,000SITE AREA (ACRES) 9.2LOADING FACILITIES 24 ExTERIOR DOCKSAVERAGE CLEARANCE (FT) 27PASSING RENT (US$/SF) 2.87MARKET RENT (US$/SF) 2.75OCCUPANCY (%) 100WEIGHTED LEASE TERM (YEARS)1 2.2


1 By income.

11601 SOUTh CENTRAL AVENUE, ALSIP, IL


DesCRiPtionThe property is located within the South Suburbs sub-market, it has a close proximity to Interstate 294 (Tri-State Tollway).

The property is 100 per cent occupied by Advertising Resources, Inc., a packaging and fulfilment services organisation.




Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

79.0%

21.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

6.0%

0.0%

67.0%

0.0%

27.0%

0.0%

0.0%

0.0%

0.0%

PRoPeRty stAtistiCsYEAR BUILT 1987BUILDING CONSTRUCTION CONCRETE BLOCK AND METAL PANELTOTAL GLA (SF) 372,580TOTAL INDUSTRIAL GLA (SF) 369,630TOTAL OFFICE GLA (SF) 2,950SITE AREA (ACRES) 41.3LOADING FACILITIES 52 ExTERIOR DOCKS

14 RAIL DOORS 1 DRIVE-IN DOOR

AVERAGE CLEARANCE (FT) 27–32PASSING RENT (US$/SF) 1.39MARKET RENT (US$/SF) 2.75OCCUPANCY (%)1 21WEIGHTED LEASE TERM (YEARS)2 —


1 With Master Lease.2 By income.

21399 TORRENCE AVENUE, SAUK VILLAGE, IL


DesCRiPtionThe property is located in a rural area that has been partially developed. It has great access to Interstates 294 and 80. The property has an additional expansion land parcel of 22.35 acres.

PRoPeRty stAtistiCsYEAR BUILT 1970BUILDING CONSTRUCTION PRE-CAST CONCRETETOTAL GLA (SF) 202,902TOTAL INDUSTRIAL GLA (SF) 197,502TOTAL OFFICE GLA (SF) 5,400SITE AREA (ACRES) 13.6LOADING FACILITIES 6 RAIL DOORS

1 DRIVE-IN DOOR 15 ExTERIOR DOCKS



1 By income.

16750 VINCENNES ROAD, SOUTh hOLLAND, IL


DesCRiPtionThe property is located in the South Suburbs and within an area of industrial properties with excellent access to Interstates 80, 294 and 94.

16750 Vincennes Road is occupied by two tenants, Hubbell Incorporated and Kelly Pipe, one of the largest distributors of pipe, valves and fittings in the US.

35


Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

27.0%

73.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

43.0%

32.0%

0.0%

0.0%

0.0%

0.0%

12.0%

13.0%

0.0%

21705–21707 wEST MISSISSIPPI STREET, ELwOOD, IL

suB-MARketJoliet Area

DesCRiPtionThe property is located adjacent to the 621 acre Burlington Northern Santa Fe multi-modal rail facility. Located only 40 miles from southwest of Chicago, this facility is strategically positioned to take advantage of Chicago’s immense transportation infrastructure.

PRoPeRty stAtistiCsYEAR BUILT 2004BUILDING CONSTRUCTION CONCRETE BLOCKS AND METALTOTAL GLA (SF) 1,022,554TOTAL INDUSTRIAL GLA (SF) 991,877TOTAL OFFICE GLA (SF) 30,677SITE AREA (ACRES) 47.5LOADING FACILITIES 120 DOCKS EACH WITH OVERHEAD DOORAVERAGE CLEARANCE (FT) 32PASSING RENT (US$/SF) 2.57MARKET RENT (US$/SF) 3.25OCCUPANCY (%) 73WEIGHTED LEASE TERM (YEARS)1 1.0


1 By income.

PRoPeRty stAtistiCsYEAR BUILT 1974BUILDING CONSTRUCTION PAINTED MASONRY AND METALTOTAL GLA (SF) 399,511TOTAL INDUSTRIAL GLA (SF) 370,511TOTAL OFFICE GLA (SF) 29,000SITE AREA (ACRES) 28.9LOADING FACILITIES 5 LOADING DOCKS

1 DOCK DOORAVERAGE CLEARANCE (FT) 25–28PASSING RENT (US$/SF) 1.76MARKET RENT (US$/SF) 2.75OCCUPANCY (%) 57WEIGHTED LEASE TERM (YEARS)1 2.1


1 By income.

5619–5625 wEST 115Th STREET, ALSIP, IL


DesCRiPtionThe property is located in a primarily office and industrial area that has good access to Interstate 294.




Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

1.0%

0.0%

0.0%

99.0%

0.0%

0.0%

0.0%

0.0%

Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

56.0%

0.0%

44.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

PRoPeRty stAtistiCsYEAR BUILT 1920BUILDING CONSTRUCTION BRICK AND METALTOTAL GLA (SF) 256,595TOTAL INDUSTRIAL GLA (SF) 251,595TOTAL OFFICE GLA (SF) 5,000SITE AREA (ACRES) 11.0LOADING FACILITIES DOCKS AND DRIVE-IN DOORSAVERAGE CLEARANCE (FT) 20–26PASSING RENT (US$/SF) 3.21MARKET RENT (US$/SF) 2.25OCCUPANCY (%) 100WEIGHTED LEASE TERM (YEARS)1 3.3


1 By income.

EC VI–4507 COLUMbIA AVENUE, hAMMOND, IN

suB-MARketNorthwest Indiana

DesCRiPtionThe property is located in a mature neighbourhood and new development has been limited. A newer Federal Express distribution facility is located north of the property.

PRoPeRty stAtistiCsYEAR BUILT 2004BUILDING CONSTRUCTION CONCRETE BLOCKS AND METALTOTAL GLA (SF) 213,500TOTAL INDUSTRIAL GLA (SF) 208,900TOTAL OFFICE GLA (SF) 4,600SITE AREA (ACRES) 27.0LOADING FACILITIES 168 DOCK HIGH LOADING ENTRANCES



1 By income.

27413 SOUTh bASELINE ROAD, ELwOOD, IL

suB-MARketJoliet Area

DesCRiPtion27413 South Baseline Road is a logistics warehouse adjacent to the new Joliet Intermodal. The design of this property allows a prospective tenant to efficiently receive and dispatch goods from the Intermodal due to the extensive cross-docking and truck parking facilities provided.

The property is located adjacent to the 621 acre Burlington Northern Santa Fe multi-modal rail facility. Located only 40 miles from southwest of Chicago, this facility is strategically positioned to take advantage of Chicago’s immense transportation.

37


Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

100.0%

Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

32.0%

44.0%

0.0%

0.0%

23.0%

0.0%

0.0%

0.0%

0.0%

PRoPeRty stAtistiCs

YEAR BUILT 1991BUILDING CONSTRUCTION PRE-CAST CONCRETETOTAL GLA (SF) 38,290TOTAL INDUSTRIAL GLA (SF) 37,590TOTAL OFFICE GLA (SF) 700SITE AREA (ACRES) 3.2LOADING FACILITIES 2 ExTERIOR DOCKS



1 By income.

8100 100Th STREET, PLEASANT PRAIRIE, wI

suB-MARketKenosha/Racine Counties

DesCRiPtionThe property is located in the Kenosha/Racine sub-market, in the village of Pleasant Prairie. Community boundaries are generally delineated by Wisconsin Highway 50 to the north, Lake Michigan to the east, the Illinois state line to the south and Interstate 94 to the west.

Chicago is located approximately 50 miles to the south, while Milwaukee is approximately 35 miles to the north.

PRoPeRty stAtistiCsYEAR BUILT 1920BUILDING CONSTRUCTION INSULATED METAL PANELSTOTAL GLA (SF) 266,967TOTAL INDUSTRIAL GLA (SF) 250,266TOTAL OFFICE GLA (SF) 16,701SITE AREA (ACRES) 12.0LOADING FACILITIES DOCKS AND DRIVE-IN DOORSAVERAGE CLEARANCE (FT) 20–26PASSING RENT (US$/SF) 4.62MARKET RENT (US$/SF) 2.25OCCUPANCY (%) 68WEIGHTED LEASE TERM (YEARS)1 1.6


1 By income.

EC VI–4531 COLUMbIA AVENUE, hAMMOND, IN

suB-MARketNorthwest Indiana

DesCRiPtionThe property is located in a mature neighbourhood and new development has been limited. A newer Federal Express distribution facility is located north of the property.




Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

100.0%

0.0%

0.0%

Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

100.0%




1 By income.

w165 N5830 RIDGEwOOD DRIVE, MENOMONEE FALLS, wI

suB-MARketMilwaukee

DesCRiPtionThe property is located in Waukesha County and is 17 miles northwest of the Milwaukee CBD. The property is located within the Silver Spring Business Park which accommodates manufacturing, distribution, office and service/retail uses and is in a park-like setting with quality amenities. Specific users within the business park include, among others, Kohl’s, Gladwin, Press-Weld, Frito-Lay and LaForce. Kohl’s office centre is the largest use within the park.




1 By income.

8200 100Th STREET, PLEASANT PRAIRIE, wI

suB-MARketKenosha/Racine Counties

DesCRiPtionThe property is located in the Kenosha/Racine sub-market, in the village of Pleasant Prairie. Community boundaries are generally delineated by Wisconsin Highway 50 to the north, Lake Michigan to the east, the Illinois state line to the south and Interstate 94 to the west.

Chicago is located approximately 50 miles to the south, while Milwaukee is approximately 35 miles to the north.

39


Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

0.0%

100.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

0.0%

100.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%


1 DRIVE-IN DOOR 6 RAIL DOORS



1 By income.

525 wEST MARqUETTE AVENUE, OAK CREEK, wI

suB-MARketMilwaukee

DesCRiPtionThe property is located directly 10 miles south of the Milwaukee CBD. The property is located in an area dominated by the General Mitchell International Airport and the surrounding properties are typically commercial or industrial which supports the Airport.




1 By income.

5110 SOUTh 6Th STREET, MILwAUKEE, wI

suB-MARketMilwaukee

DesCRiPtionThe property is located directly opposite Milwaukee’s General Mitchell International Airport, which is the largest land use in the property’s neighbourhood.

The property is also located in close proximity to State Route 119, known as the Airport Spur, an interstate quality roadway built specifically to provide airport access directly from Interstate 94, located one mile from the airport.




Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

0.0%

0.0%

0.0%

100.0%

0.0%

0.0%

0.0%

0.0%

Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

80.0%

20.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

PRoPeRty stAtistiCsYEAR BUILT 1998BUILDING CONSTRUCTION STEEL ExTERIOR WALLSTOTAL GLA (SF) 20,800TOTAL INDUSTRIAL GLA (SF) 16,500TOTAL OFFICE GLA (SF) 4,300SITE AREA (ACRES) 6.5LOADING FACILITIES 13 ExTERIOR DOCKS



1 By income.

1500 wEST ZELLMAN COURT, MILwAUKEE, wI

suB-MARketMilwaukee

DesCRiPtionThe property is located within an area of industrial and commercial businesses. It is located in close proximity to Interstates 94 and 43 and is also close to General Mitchell International Airport.

Towne Air Freight will fully occupy the property until September 2013. Towne Air Freight is a large logistics company that focuses on its efficient distribution services.


4 INTERIOR DOCKSAVERAGE CLEARANCE (FT) 21PASSING RENT (US$/SF) 2.07MARKET RENT (US$/SF) 3.50OCCUPANCY (%) 20WEIGHTED LEASE TERM (YEARS)1 0.1


1 By income.

11100 wEST SILVER SPRING ROAD, MILwAUKEE, wI

suB-MARketMilwaukee

DesCRiPtionThe property is located in an industrial and residential area with close proximity to Highway 41/45 and Interstate 94. The General Mitchell International Airport is located approximately 15 miles southwest.

41


Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

0.0%

0.0%

0.0%

0.0%

100.0%

0.0%

0.0%

0.0%

Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

0.0%

0.0%

0.0%

0.0%

100.0%

0.0%

0.0%

0.0%

PRoPeRty stAtistiCsYEAR BUILT 1990 (RENOVATED IN 1998)BUILDING CONSTRUCTION STEEL ExTERIOR WALLSTOTAL GLA (SF) 487,398TOTAL INDUSTRIAL GLA (SF) 365,408TOTAL OFFICE GLA (SF) 121,990SITE AREA (ACRES) 47.5LOADING FACILITIES 8 ExTERIOR DOCKSAVERAGE CLEARANCE (FT) 25PASSING RENT (US$/SF) 4.32MARKET RENT (US$/SF) 4.25OCCUPANCY (%) 100WEIGHTED LEASE TERM (YEARS)1 4.3


1 By income.

6400 wEST ENTERPRISE DRIVE, MEqUON, wI

suB-MARketMilwaukee

DesCRiPtionThe property is located in an industrial area with good access to major highways, including Interstate 43.

The 487,398 square foot property was built in 1990 and renovated in 1998. Its tenant, Rockwell Automation, Inc., provides industrial automation power, control and information products and services.



1 By income.

301 EAST VIENNA AVENUE, MILwAUKEE, wI

suB-MARketMilwaukee

DesCRiPtionThe property is located in an industrial area that has excellent access to Interstate 43, and is approximately 13 miles north of the General Mitchell International Airport.




Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

0.0%

0.0%

0.0%

0.0%

100.0%

0.0%

0.0%

0.0%

Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

0.0%

0.0%

100.0%

0.0%

0.0%

0.0%

0.0%

0.0%

PRoPeRty stAtistiCsYEAR BUILT 1970BUILDING CONSTRUCTION STEEL ExTERIOR WALLSTOTAL GLA (SF) 150,192TOTAL INDUSTRIAL GLA (SF) 145,686TOTAL OFFICE GLA (SF) 4,506SITE AREA (ACRES) 9.6LOADING FACILITIES 20 ExTERIOR DOCKSAVERAGE CLEARANCE (FT) 20PASSING RENT (US$/SF) 3.33MARKET RENT (US$/SF) 3.00OCCUPANCY (%) 100WEIGHTED LEASE TERM (YEARS)1 4.3


1 By income.


1 RAIL DOCK 1 DRIVE-IN DOOR

AVERAGE CLEARANCE (FT) 39–40PASSING RENT (US$/SF) 3.05MARKET RENT (US$/SF) 3.25OCCUPANCY (%) 100WEIGHTED LEASE TERM (YEARS)1 2.1


1 By income.

7620 SOUTh 10Th STREET, OAK CREEK, wI

suB-MARketMilwaukee

DesCRiPtionThe property is located in an industrial area with excellent access to Interstate 94 and is located slightly south of the General Mitchell International Airport.

The United States Postal Service is the tenant. The United States Postal Service is an independent establishment of the Executive Branch of the United States Government.

6600 NORTh INDUSTRIAL ROAD, MILwAUKEE, wI

suB-MARketMilwaukee

DesCRiPtionThe property is located in a light industrial area. It has access to Highway 43 and is also close to the General Mitchell International Airport.

6600 North Industrial Road is fully leased to Ball Metal Beverage Container Corporation, a leading producer of metal beverage cans.

43


Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

100.0%

Vacancy

Yr 1

Yr 2

Yr 3

Yr 4

Yr 5

Yr 6

Yr 7

Yr 8+

100.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

PRoPeRty stAtistiCsYEAR BUILT 1992 (ExPANDED IN 1995)BUILDING CONSTRUCTION INSULATED METAL PANELTOTAL GLA (SF) 31,854TOTAL INDUSTRIAL GLA (SF) 25,584TOTAL OFFICE GLA (SF) 6,270SITE AREA (ACRES) 10.7LOADING FACILITIES 33 ExTERIOR DOCKS

1 DRIVE-IN DOORAVERAGE CLEARANCE (FT) 16–19PASSING RENT (US$/SF) 8.38MARKET RENT (US$/SF) 8.50OCCUPANCY (%) 100WEIGHTED LEASE TERM (YEARS)1 8.8


1 By income.

5450 KRAFT AVENUE, GRAND RAPIDS, MI

suB-MARketGrand Rapids

DesCRiPtionThe property is located in a primarily industrial area. Kraft Avenue is a major industrial strip in the Grand Rapids area and is in close proximity to the Kent County Airport.

Towne Air Freight will fully occupy the property until March 2019. Towne Air Freight is a large logistics company that focuses on its efficient distribution services.

PRoPeRty stAtistiCsYEAR BUILT 1998BUILDING CONSTRUCTION STEEL PANEL WAREHOUSETOTAL GLA (SF) 192,000TOTAL INDUSTRIAL GLA (SF) 176,000TOTAL OFFICE GLA (SF) 16,000SITE AREA (ACRES) 20.0LOADING FACILITIES 21 ExTERIOR DOCKS

2 DRIVE-IN DOORSAVERAGE CLEARANCE (FT) 19PASSING RENT (US$/SF) VACANTMARKET RENT (US$/SF) 3.25OCCUPANCY (%) —WEIGHTED LEASE TERM (YEARS)1 —


1 By income.

N53 w24700 CORPORATE CIRCLE, SUSSEx, wI

suB-MARketMilwaukee

DesCRiPtionThe property is located in a newer area of development, consisting primarily of industrial users, and has access to Interstate 94. The General Mitchell International Airport is approximately 22 miles southeast.


DIRECTORY

ResPonsiBle entityMirvac Funds Management Limited ABN 78 067 417 663 AFSL 220 718 as Responsible Entity of Mirvac Industrial Trust ARSN 113 489 624

RegisteReD offiCe AnD PostAl ADDRessLevel 26, 60 Margaret Street Sydney, NSW 2000 Telephone: 02 9080 8000 Facsimile: 02 9080 8174 Email: [email protected] Web: www.mirvac.com/mix

DIsClaIMerThis Investment Portfolio Summary is dated June 2010 and is provided for information purposes only and is subject to change without notice. It has been prepared on the basis of the information which is believed by Mirvac Funds Management Limited to be correct but Mirvac Funds Management Limited does not warrant the accuracy of any details or accept liability for any of the information contained in this Investment Portfolio Summary.Nothing contained in this Investment Portfolio Summary is intended to be investment, legal, tax or other advice. The information in this Investment Portfolio Summary does not take into account the investment objectives, financial situation and needs of any particular investor. Before acting on the information in this Investment Portfolio Summary investors should read the annual report of Mirvac Industrial Trust and subsequent ASx announcements, obtain independent advice and make their own assessment of Mirvac Industrial Trust having regard to their investment objectives, financial situation and needs.This document is printed on Australian made paper containing 50 per cent recycled fibre and 50 per cent non-recycled fibre sourced from sustainable plantations.

INVESTMENT PORTFOLIO SUMMARY MIRVAC ...cdn3.blocksassets.com/assets/mirvac-funds/mirvac...Investment PortfolIo overvIew 2 ChICago market overvIew 10 Investment PortfolIo 12 mchenry

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