IMPERIAL CENTER PORTFOLIO

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1 IMPERIAL CENTER IMPERIAL CENTER PORTFOLIO 1.1 MSF 90% Leased Raleigh-Durham, North Carolina CUSHMAN & WAKEFIELD THALHIMER CAPITAL MARKETS GROUP

2 The Offering On behalf of Crown Realty & Development, Cushman & Wakefield Thalhimer is pleased to present the opportunity to acquire the Imperial Center Portfolio, a 1.1 million square foot, 12-building portfolio and two-acre development parcel located within Imperial Center, Raleigh-Durham s most prestigious corporate address. Comprised of office, industrial and office/r&d properties, the Imperial Center Portfolio features some of the highest quality buildings in the market and is 90% leased to a credit-lined rent roll including MetLife (NYSE: MET), Zoetis (NYSE: ZTX), Cardinal Health (NYSE: CAH), Advance Auto Parts (NYSE: AAP) and NetApp (NASDAQ: NTAP), among others. Imperial Center benefits from a spectacular, center-of-the-market location that sits at the intersection of the two most heavily traveled highways in the region Interstate and Interstate. Located within the RTP/I- submarket, Raleigh-Durham s largest office and industrial submarket, Imperial Center is within minutes of the nearly 50,000 employees that work in the world-renowned Research Triangle Park. The 456-acre Imperial Center also provides tenants with an unparalled amenity base, including four hotels, food service retail, daycare facilities, jogging trails, banks, fitness facilities, and the Regional Triangle Transit Center (RTC). Imperial Center offers investors the opportunity to acquire a significant presence in one of the country s fastest growing markets with stable cash flow, a quality rent roll, and immediate upside potential. Bedford Place PORTFOLIO SUMMARY BUILDING PROPERTY TYPE RSF % OCCUPIED Danbury Hall Midrise Office 116, % 5411 Page Road Chelsea Place Midrise Office 76,492 92% 1007 Slater Road Oxford Place Midrise Office 45,018 61% 1005 Slater Road Royal Center I, II & III Office / R&D 126,584 90% 4222 Emperor Boulevard Exchange Place Office / R&D 61,067 46% 4301 Emperor Boulevard Bedford Place Industrial 150,332 73% 4226 Surles Court Edinburgh Place Industrial 150, % 4234 Surles Court Windsor Place Industrial 123, % 4227 Surles Court Commerce Center Industrial 111, % 4300 Emperor Blvd Regent Place Industrial 169, % 1000 Parliament Court Slater Road Land Parcel Land 2.0 acres PORTFOLIO TOTAL 1,130,826 90%

3 The Portfolio N BEDFORD PLACE 4226 Surles Court RESEARCH TRIANGLE PARK commerce center 4300 Emperor Boulevard RESEARCH TRIANGLE PARK windsor place 4227 Surles Court 147 exchange place 4301 Emperor Boulevard 54 royal center I, II & III 4222 Emperor Boulevard DANBURY HALL 5411 Page Road edinburgh center 4234 Surles Court 54 MIAMI BOULEVARD Chelsea place 1007 Slater Road Oxford Place 1005 Slater Road regent Place 1000 Parliament Court SLATER ROAD

4 Investment Highlights Shops at Imperial Point Mez Restaurant PORTFOLIO INVESTMENT HIGHLIGHTS A Preeminent Business Park Imperial Center is Raleigh-Durham s premier business park and features many of the metropolitan area s most notable employers Rare Acquisition Opportunity Unique opportunity to acquire a significant presence in the RTP/I- submarket with quality, institutional-grade office, industrial, and R&D product Quality Credit Tenancy - Excellent credit throughout the Portfolio, including MetLife (NYSE: MET), Zoetis (NYSE: ZTX), Cardinal Health (NYSE: CAH), Life Technologies (NASDAQ: LIFE), Advance Auto Parts (NYSE: AAP), NetApp (NASDAQ: NTAP) Substantial Leasing Momentum Approximately 300,000 SF (26.5% of the portfolio) of new and expansion leases have been executed within the Portfolio over the past 12 months Upside Potential Investors are poised to increase returns through additional leasing, increasing rental rates and the two-acre development pad behind the Shops at Imperial Point Superior Location Ideally located in the center of the market at the interchange of Interstate and, and within minutes to the RDU International Airport, the Research Triangle Park and some of the area s most desirable residential communities Unique Walkable Retail Offers close proximity to Walmart, Sam s Club and the Shops at Imperial Point retail center, a significant leasing differentiator in the submarket Outstanding In-Park Amenities - Expansive amenity base within the park, including jogging trails, daycare facilities, a Fitness Connection gym, two cafés, and the 331-room Sheraton Imperial Hotel and Convention Center Starbucks Coffee at Imperial Point Imperial Center Sheraton Imperial Hotel & Convention Center Entrance

5 Investment Highlights OFFICE INVESTMENT HIGHLIGHTS Features three (3) mid-rise office buildings totaling 237,810 square feet, including Danbury Hall, one of the premier office buildings in the RTP/I- submarket The office portfolio has historically outperformed the overall market by a wide margin and is currently 90% leased Quality amenity base within walking distance that is unmatched by any other park in the RTP/I- submarket Danbury Hall features 10' ceilings, floor-to-ceiling glass windows, superior power and mechanical systems and a history of sterling credit tenancy Chelsea Place and Oxford Place are quality, well-maintained office buildings that have consistently maintained stable rental rates and offer a locationdriven economical alternative to some of the newer office buildings in the park Eight (8) new and expansion leases have been executed over the past ten months, totaling nearly 138,000 square feet Several significant space commitments, including MetLife s 116,300 SF lease at Danbury Hall, have been announced in the Raleigh-Durham market over the past six months, resulting in over 500,000 square feet of positive net absorption in the first half of 2013 Danbury Hall Danbury Hall Lobby

6 Investment Highlights single-story office/r&d INVESTMENT HIGHLIGHTS The office/r&d portfolio includes four (4) single-story lab/office buildings that are 76 percent leased with a well-balanced rollover schedule Features a sterling rent roll with tenants such as Zoetis (NYSE: ZTX), Life Technologies (NASDAQ: LIFE) and Pearl Therapeutics, recently acquired by Astrazeneca (NYSE: AZN) Royal Center Conference Room Includes some of Raleigh-Durham s premier lab space, which is well-suited to the market s high concentration of pharmaceutical and research companies Single-story office/r&d properties in Imperial Center have performed exceptionally well in 2013, executing over 155,000 square feet of new and expansion leases year-to-date The Raleigh-Durham flex market, which caters well to the market s sizable presence in the research & development fields, has recorded over 450,000 square feet of positive net absorption year-to-date in 2013 Royal Center Lobby Exchange Place Royal Center

7 Investment Highlights Commerce Center Peter Millar Warehouse Windsor Place industrial INVESTMENT HIGHLIGHTS Industrial portfolio features five (5) institutional-grade industrial properties totaling 5,365 square feet that are 94% leased to nineteen (19) tenants Major tenants include ProBuild (74,519 SF), the Research Triangle Institute (72,720 SF), Peter Millar (68,656 SF), Cardinal Health (60,000 SF), Armstrong Relocation (49,085 SF), and Advance Auto Parts (43,818 SF) Three facilities on Surles Court (Bedford Place, Edinburgh Center, and Windsor Place) feature tilt-up concrete construction, extensive glass lines, ESFR sprinkler systems, and clear heights up to 30 feet Regent Place features a cross-loading design that easily subdivides for tenants as small as 8,000 square feet, providing investors the opportunity to drive higher rents Bedford Place Commerce Center offers tenants a prime location on Emperor Boulevard and boasts significant leasing momentum with the recent lease to Cancer Diagnostics and the expansion of Peter Millar Premiere location within the RTP/I- submarket, home to over 75% of the area s institutional-grade industrial real estate Class A occupancy within the RTP/I- submarket has risen to 94% and asking rental rates are as high as $5.95 per square foot Residential and retail construction has virtually exhausted the submarket s supply of industrial land and there is only one developer controlled industrial site that will accommodate a 100,000 SF facility Edinburgh Center

8 Creedmoor GRANVILLE Franklinton IMPERIAL CENTER PORTFOLIO Falls Lake 1 BRIER Youngsville CREEK 1 FRANKLIN Raleigh-Durham International Airport N DURHAM 98 DURHAM Bunn Wake Forest 98 RALEIGH IMPERIAL CENTER WAKE Research Triangle Park 55 1 Apex 54 RDU Airport Morrisville Cary RALEIGH 1 Garner Rolesville Research Triangle Park Slater Road Shops at imperial point Page Road Knightdale 54 WAKE Wendell Zebulon Emperor BLVD. 96 JOHNSTON NASH Surles Court For more Holly information, Springs please contact: Investment Advisors 75 CHRIS NORVELL, SIOR chris.norvell@thalhimer.com (919) BILL SIMERVILLE bill.simerville@thalhimer.com (4) SCOT HUMPHREY 1 scot.humphrey@thalhimer.com (919) DAVID MELINE david.meline@cushwake.com (4) Cushman Clayton & Wakefield Equity, Debt & Structured Finance MIKE RYAN mike.ryan@cushwake.com (4) BRIAN LINNIHAN brian.linnihan@cushwake.com (4) CUSHMAN & WAKEFIELD THALHIMER CAPITAL MARKETS GROUP