Absorption in Logistic Condominiums passes 1,000,000 sq.m in 2011.

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1 4Q INDUSTRIAL BRAZIL MARKET REPORT INDUSTRIAL INDUSTRIAL RESEARCH A and A+ Absorption in Logistic Condominiums passes 1,000,000 sq.m in. ECONOMIC OVERVIEW PRICE ABSORPTION VACANCY NEW INVENTORY INDUSTRIAL CONDOMINIUM INDICATORS - 1Q 2Q 3Q 4Q The year was a positive one for the industrial sector, whose numbers justified increased investments, exports and consequently Brazil s visibility on the global market. Indicators include recent evaluations by the Association of Foreign Investors in Real Estate (AFIRE), which ranked Brazil the second best place in the world to invest in real estate, and also by the International Monetary Fund (IMF) which performed a study on world competitiveness in 142 nations, ranking Brazil 53rd (five points above its 2010 study). Increased foreign investment throughout the year placed the nation in second place among the BRICS (the bloc composed of Brazil, Russia, India, China and South Africa), according to UN data. In the first half alone, Brazil attracted US$ 32.5 billion, nearly three times the amount in the same period during the previous year, falling behind only China. The index measures the quantity of investments received by nations via indicators, production, factory construction, mergers and acquisitions of companies and loans between headquarters and local branches. It is important to note that these numbers were due to the fact that the economic crisis mainly affected the European nations. According to a study by Deloitte consulting, factors such as rising GDP per capita and increasing numbers of companies made some cities stand out as centers for development. Some of them are Parauapebas and Marabá (Southeastern Pará), Primavera do Leste and Sorriso (North and Southeastern Mato Grosso), Quirinópolis and São Simão (Southern Goiás), Cruz Alta and Não-Me-Toque (Northwest Rio Grande do Sul), Itajaí and Balneário Camboriú (Northern Santa Catarina coast), Paranaguá and Antonina (Paraná coast), Campos de Goytacazes and Macaé (Norte Fluminense and Sul Capixaba, Rio de Janeiro coast), Ouro Preto and Itabirito (Southeastern Minas Gerais), Macau and Guamaré (Norte Potiguar, Rio Grande do Norte) and Porto Franco and Estreito (Southern Maranhão). All the cities mentioned above played a relevant role in the national economy due to diversified activity mostly influenced by local companies. For example, the Norte Fluminense and Sul Capixaba, home to Petrobrás and its growing pre-salt business are responsible for 22% of the nation s crude oil exports. Other regions also contributed to national growth such as the Southeast of Pará State, which exported 27% of all iron ore produced in Brazil, and the Santa Catarina North Coast which exported 33% of all Brazilian chicken from nearby the Itajaí Port. Cities in the São Paulo Greater ABC region (Santo André, São Bernardo do Campo and São Caetano do Sul) also had a strong year in, with over US$ 1 billion in exports for an annual growth index of 24.12% according to the Ministry of Development, Industry and Foreign Trade. Some of the most exported products were chassis with motors, tractortrailers and automobiles. The National Confederation of Industry (CNI) measures the industrial sector s mood with its Industry Owners Confidence Index (ICEI), which closed the year at 54.8 points, a 1.6 point drop from the previous quarter, but still considered quite strong on the scale. Other questions such as business owners expectations and the economy are questioned in another index which rated them 60.7 and 54.6 points, respectively drops of 2.2 and 0.9 points as compared to the month of September. When business owner expectations were analyzed by region, the Northeast, Central West and South showed optimistic scenarios, with 63.8, 59.9 and 57.7 points, respectively.

2 MARKET REPORT INDUSTRIAL 4Q PROFILE OF INDUSTRY OWNERS CONFIDENCE INDEX (ICEI) (points of 0-100) INFRASTRUCTURE jan/11 feb/11 mar/11 apr/11 may/11 jun/11 jul/11 aug/11 Source: CNI (National Confederation of Industry) 56.4 sep/11 oct/11 nov/ dec/11 There are many roadway improvement projects underway across Brazil today. Construction of the Transnordestina, or Trans-northeastern roadway, for example, is forecast to be completed in The project is funded by the federal Growth Acceleration Program (PAC) and will connect the states of Pernambuco, Ceará and Piauí with some 1,700 kilometers of roadway. Expectations are that it will increase competitiveness of the agricultural and mineral production in the region. In the Southeast, the Mário Covas Ring Freeway in São Paulo State and the Arch Freeway in Rio de Janeiro are both in the final phases of construction. PROFILE OF BUSINESS EXPECTATIONS AND EXPECTATIONS FOR THE BRAZILIAN ECONOMY (points of 0-100) jan/11 feb/11 mar/11 apr/11 may/11 jun/11 jul/11 aug/11 Source: CNI (National Confederation of Industry) sep/11 oct/11 Business Expectations Expectations for the Brazilian Economy nov/ dec/11 National ports also received public and private investments for modernization and local restructuring projects, motivated by the swelling import and export traffic in. Investment was most incisive in the Northeast, where some R$ 1.9 billion was spent on the following port improvement projects: Itaqui (Maranhão), Pecém (Ceará), Natal (Rio Grande do Norte), Luis Correia (Paraíba), Maceió (Alagoas), Salvador (Bahia) and Suape (Pernambuco). Brazil s Southeast followed close behind in port improvement investments, with approximately R$ 1.8 billion in outlays for ports in Vitória (Espírito Santo), Rio de Janeiro (Rio de Janeiro) and Santos (São Paulo). In preparations for the 2014 FIFA World Cup to be held in Brazil, the ports of Salvador, Recife, Natal, Fortaleza, Santos, Rio de Janeiro and Manaus will adapt their maritime terminals to meet tourist demand to the tune of over R$ 740 million. BUSINESS EXPECTATIONS BY REGION (DECEMBER ) (points of 0-100) MARKET OVERVIEW Central West 59.9 Northeast 63.8 North Southeast South Fonte: CNI (Confederação Nacional da Indústria) Many factors come into play when a company chooses its installations. Access, location, price and tax incentives must all be considered. We have seen that localization has been weighing more and more heavily in the logistical planning of future renters. The location and costs of highway tolls, for example, are carefully analyzed as they can add significantly to the cost of a warehouse, depending on the operation run there. Some examples of roadway tolls in São Paulo State follow: Anhanguera/ Bandeirantes (from São Paulo city to Limeira) tolls from R$ 4.70 to R$ 7.00; Dutra/Ayrton Senna (from Guarulhos to Pindamonhangaba) from R$ 1.90 to R$ 9.60, the most expensive toll being at Pindamonhangaba. On the Rodovia Dom Pedro I (from Atibaia to Campinas) tolls are similar, from R$ 5.20 to R$ In the Campinas Metropolitan Area, the tolls are some of the highest found in the state: Indaiatuba and Jaguariúna are some examples, at R$ and R$ 9.10 respectively. As toll prices are adjusted according to the IPCA and IGPM indexes, there is little variation in increases from one concessionary to the next. P. 2 COLLIERS INTERNATIONAL

3 MARKET REPORT INDUSTRIAL 4Q The market received a little over 1 million square meters of new area in Class A condominiums in, an increase of 183% over new area finished in The last quarter closed the year with 5.7 million square meters total, representing a real increase of 31.8% of inventory. 800,000 sq.m of this number refers to developments on the market previously unmonitored by Colliers International. Of this inventory, 48% is located FORECAST INVENTORY X INVENTORY HANDED OVER IN CLASS A INDUSTRIAL CONDOMINIUMS FROM ( SQ.M) Forecast : Range of Toll Booth Prices by Highway in São Paulo State (in R$) Highway Cities Connected Minimum Price Maximum Price Forecast : 1,068,042 Anhanguera / Bandeirantes São Paulo (City) - Limeira Forecast : 522,757 Dutra / Ayrton Senna Guarulhos a Pindamonhangaba Dom Pedro I Atibaia a Campinas ,709 1,008, along the nation s main roadways, such as Anhanguera (SP), Bandeirantes (SP), Dom Gabriel Paulino (SP), Raposo Tavares (SP), Dutra (SP), DF-475 (DF) and BR-316 (PA). Inventory Handed Over (Sq.m) Forecast Inventory (sq.m) According to developer and builder forecasts, 3.44 million sq.m of new warehouse is expected to be deliverey to the market in 2012, or 243% more than in. Colliers, however, believes that some 80% of this forecast amount will actually be completed. The cities with the fastest growing inventory of Class A Industrial Condominiums were Cajamar (SP), Indaiatuba (SP) and Cabo de Santo Agostinho (PE) with real increases of 183%, 63% and 26% respectively. GROWTH OF TOTAL ACCUMULATED INVENTORY CLASS A CONDOMINIUMS (MILLIONS OF SQM) 17,0 The number of developers in the logistical condominium market is increasing exponentially, and the quality of constructions and projects is also on a constant upswing. In the mid-90s when this sort of product began to appear on the market, projects were all built with pre-established standards: warehouses from 1,000-5,000 sq.m, maximum ceiling height of 9 meters and floor load maximum 4 tons/sq.m. Today, building standards have evolved to meet customer needs. Warehouses may vary from 1,000 to 50,000 sq.m, ceiling height is standard meters and floor load has increased to 5 or 6 tons/sq.m. The storage area/total constructed area ratio has also increased considerably, meaning more efficient warehouse space. 3, , ,7 8,5 2012* 9,7 2013* * *Forecast Inventory COLLIERS INTERNATIONAL P. 3

4 MARKET REPORT INDUSTRIAL 4Q Average Area of Existing Warehouses (sq.m) Percentage of Existing Inventory (%) < % 9.7% 6.7% % > % EXISTING INVENTORY (SQ.M) X VACANCY RATE BY REGION (%) - 4TH QUARTER VACANCY 6,000,000 The Central West s 27.9% vacancy rate does not correspond with the national scenario, as the region makes up only.7% of Brazil s total existing inventory. The entry of the last warehouse at the Gama Business Park in Gama (DF) on the market with 12,510 sq.m, and 85% of this area available for letting, explains the high vacancy rate. There was no available area in the North region of the country, after the rental of a warehouse in the Alianza Business Park, Pará State. In the Northeast, however, vacancy rates were 0.8%, an increase of 0.3% over the previous quarter, result of one module that was vacated at the Centro Logístico Armazenna 2 in the state of Pernambuco. The most notable change this quarter was the falling vacancy rates in the South, from 5.4% to 0% after the rental of areas at the Mega Intermodal Esteio (RS), Mega Centro Logístico Itajaí (SC) and Perini Business Park (SC). QUARTERLY VACANCY RATE IN CLASS A INDUSTRIAL CONDOMINIUMS (%) 8.7% 8.5% 7.2% 7.2% 6.6% 2Q Q Q 2Q 3Q 6.0% 4Q In the Southeastern part of the country, the fourth quarter also was one of low vacancy rates, closing the year at 6.9%, 89% of which are located in São Paulo State. Total area available on the market was 343,214 sq.m, mostly in the states of São Paulo, Rio de Janeiro and the Distrito Federal, with 86%, 8% and 3% of the total respectively. Comparing vacancy rates for the fourth quarter with the previous one, some significant oscillations can be seen. Minas Gerais, for example, clo- P. 4 COLLIERS INTERNATIONAL 30% 4,781,976 5,000,000 Existing Inventory (sq.m) The vacancy rate fell for the fourth quarter in a row to 6.0% at the end of. 27.9% 25% 4,000,000 20% 3,000,000 15% 2,000, ,702 1,000, % 6.9% 39, , ,245 0% 0% 0.8% Central West Northeast North Existing Inventory (sq.m) Southeast South Vacancy Rate (%) 5% 0% Vacancy Rate (%) sed the year with 1.6%, a drop of 1.3% due to the letting of areas at the HV Business Park and Log I Contagem condominiums. Paraná State closed with a 0% vacancy rate the last rented space was a warehouse in the Condomínio Industrial Maxi Cic located in Curitiba.

5 MARKET REPORT INDUSTRIAL 4Q Comparative Vacancy Rates by States in Class A Industrial Condominiums in 3rd and 4th Quarters (in %) ACCUMULATED ABSORPTION IN CLASS A CONDOMINIUMS (SQ.M) Estado 3rd Quarter 4th Quarter Federal District 0.0% 27.9% São Paulo 8.6% 8.6% Rio de Janeiro 3.5% 3.6% Minas Gerais 2.9% 1.6% Pernambuco 0.5% 0.8% Amazonas 0.0% 0.0% Ceará 0.0% 0.0% Espírito Santo 0.0% 0.0% Pará 100.0% 0.0% Paraná 2.8% 0.0% Rio Grande do Sul 9.1% 0.0% Santa Catarina 5.8% 0.0% Brazil 6.6% 6.0% ,470 QUARTERLY ABSORPTION IN CLASS A INDUSTRIAL CONDOMINIUMS (SQ.M) 1,095, ,506 DISTRIBUTION OF AVAILABLE INVENTORY IN INDUSTRIAL CONDOMINIUMS IN BRAZIL BY REGION (%) 100, , , ,407 46,173 3% 1% 2Q Q Q 2Q 3Q 4Q 96% Available Inventory in Brazil, 4th Quarter - 343,217 sq.m Southeast Central West Northeast Of these a little over one million square meters, some 75% were in the Southeast and 15% in the Northeast. Increased demand for the Suape Port region explains the region s participation in the total absorption for the year. The states of São Paulo, Pernambuco and Minas Gerais showed the quarter s highest absorption at the CD-Dutra (SP), Eco Prime Condomínio Empresarial (SP), Log Jundiaí (SP), Cone Plug & Play (PE), Clas MD (PE) and Log I Contagem (MG) condominiums. In the cities of São José dos Campos (SP) and Juiz de Fora (MG),areas were vacated at the Complexo Logístico São José dos Campos (20,800 sq.m) and in the Park Sul Centro Empresarial (5,000 sq.m). ABSORPTION The year affirmed the market growth for Industrial Condominiums as projected by Colliers in 2010: 1,095,913 square meters were absorbed across the country, a leap of 648% over One significant fact is that 71% of the 1,008,985 square meters absorbed were rented before construction was completed. In 2012, a new 3.4 million square meters are expected to enter the market, 7% of which are already under contract. The second and third quarters of the year were the periods when the most area was rented before construction was finished, with 86% and 80% of the totals 297,302 and 228,131 square meters, respectively. In the fourth quarter, 253,407 square meters were absorbed, 27% more than the previous period. COLLIERS INTERNATIONAL P. 5

6 MARKET REPORT INDUSTRIAL 4Q ACCUMULATED ABSORPTION BY STATE (SQ.M) X 4TH QUARTER ABSORPTION (%) Among the regions analyzed by Colliers, the highest rent increases were found in the South, Central West and Northeast, with 15%, 8% and 4% respectively. 36% 0% 21% 91,689 23,500 7,595 19% 560,576 34% 11% 169, ,077 45% 100% 55% 29% 11,860 9,058 14,000 34,000 In some select condominiums, asking rent prices were reduced as a sales strategy to rent consecutive areas. Developments such as Parque Logístico Via Expressa and Sindi Business Park (both in Contagem, MG) and Jaguariúna Park Industrial (Jaguariúna, SP), are examples. AVERAGE ASKING PRICES FOR RENT BY REGION (R$/SQ.M/MONTH) AM DF MG PA PE PR RJ RS SC SP Accumulated Absorption (in sq.m) Absorption 4th Quarter (in %) R$ 18.4/sq.m/mo FORECAST INVENTORY X INVENTORY HANDED OVER IN BY QUARTERS (SQ.M) R$ 15.4/sq.m/mo 221,900 67% 261,652 49% 297,302 86% 228,131 80% R$ 16.2/sq.m/mo 407, , , ,178 Average Asking Price for Rent R$ 18.85/sq;m/mo R$ 15.8/sq.m/mo R$ 19.5/sq.m/mo 1Q 2Q 3Q 4Q Forecast Inventory (sq.m) Inventory Handed Over (sq.m) Absorption (% Highest (R$) Lowest (R$) PRICES The average asking price for rent in Brazil at the close of was R$ 18.85/sq.m/month, a 6.2% increase over the year. AVERAGE ASKING PRICES FOR RENT IN BRAZIL (R$/SQ.M/MONTH) The highest asking price for rent in industrial condominiums in Brazil in the fourth quarter was R$ 35/sq.m/month at the Flex Buildings Condomínio Empresarial in Campinas, SP. The flexibility of its modules, expansion of mezzanine area and double ceiling height are reflected in the high price, which is 54% higher than the city s average of R$ 21.30/sq.m/month. Today, there is only one project to be built of Flex Building style warehouses in the entire country, the CLB Guarulhos, currently being commercialized by Colliers. Located in the state of São Paulo, the project foresees construction of 4 warehouses with the same building standards As it is a property with differentiated characteristics, the Flex Building is not considered for statistical data or compared on the graphic of minimum and maximum asking rent prices by State. 4Q Q Q Q 2Q 3Q 4Q P. 6 COLLIERS INTERNATIONAL

7 MARKET REPORT INDUSTRIAL 4Q MINIMUM AND MAXIMUM ASKING RENT PRICES BY STATE IN CLASS A INDUSTRIAL CONDOMINIUMS (R$/SQ.M/MONTH) AM CE DF ES GO MG PA PE PR RJ RS SC SP The highest nationwide averages remain those in the states of Rio de Janeiro and São Paulo, at R$ 25.00/sq.m/month and R$ 19.60/ sq.m/month, respectively. The lowest statewide averages are in Ceará, with R$ 12.75sq.m/month and Paraná with R$ sq.m/month. Average Asking Prices for Rent in Class A Industrial Condominiums by State 4th Quarter State Average Rent Price (R$/sq.m/month) Average Rent Price (US$/sq.m/month) Rio de Janeiro São Paulo Pará Santa Catarina Amazonas Minas Gerais Pernambuco Goiás Espírito Santo Distrito Federal Rio Grande do Sul Paraná Ceará National Average 18, Exchange rate: US$ 1 = R$ 1,87 Average asking prices for rent can vary depending on the size of the warehouses. For warehouses between 1,000 sq.m and 5,000 sq.m, average price is R$ 20/sq.m/month. Warehouses from 5,001 sq.m-- 10,000 sq.m and 10,001 sq.m--50,000 sq.m are less expensive, at R$ 18.90/ sq.m/month and R$ 19,90/sq.m/month, respectively. The absorption rate, however, is faster in larger warehouses as compared to smaller ones. OCCUPATION COST The Occupation Cost is the sum of rent, condominium fees and land tax (IPTU). The average national cost is R$ 20.40/sq.m/month. Regionally, the Southeast and North have higher average occupational costs, at R$ 21/sq.m/month and R$ 18.90/sq.m/month, respectively. Occupation Costs In Class A Industrial Condominiums by State State Average cost per sq.m/mo. (In R$) Average cost per sq.m/ mo. (In US$) Rio de Janeiro Pará São Paulo Amazonas Santa Catarina Minas Gerais Pernambuco Paraná Rio Grande do Sul Espírito Santo Distrito Federal Ceará General Average Exchange Rate: US$ 1 = R$ 1.87 COLLIERS INTERNATIONAL P. 7

8 MARKET REPORT INDUSTRIAL 4Q 1ST QUARTER BALANCE SHEET New Inventory 261,650 square meters distributed between the states of Rio de Janeiro, São Paulo, Minas Gerais and Santa Catarina. 49% of these contracts were signed before construction was finished. Construction completed at Airport Town II (SP), Cargo Park (RJ), Distribution Park Dutra (RJ), Global Jundiaí (SP), Multi Modal Indaiatuba (SP) and Mega Centro Logístico Itajaí (SC). Liquid Absorption 262,250 square meters, 161% higher than 4th Quarter Vacancy Rate - 8.5% representing a drop in vacancy after 3 consecutive months of increases. Average Asking Price for Rent R$ 17.70/sq.m/month. The highest asking price was R$ 30.00/sq.m/month, in Campinas (SP). 2ND QUARTER New Inventory 297,300 sq.m, mostly in the Southeast and Northeast regions. Main new products: Alianza Business Park (PA), Cajamar Industrial Park (SP), Distribution Park Cajamar (SP), CLB Confins (MG), Log I Contagem (MG), Log Jundiaí (SP) and Centro Logístico Armazenna 2 (PE). Liquid Absorption sq.m. Largest quarterly absorption of the year Vacancy Rate 7.2%, representing a fall of 1.3% as compared to the first quarter Average Asking Price for Rent R$ 18.50/sq.m/month, an increase of 11.5% over a 12 month period (compared to 2nd quarter 2010). The highest asking price in the country was 32.00/sq.m/month at Cargo Park in the state of Rio de Janeiro. 3RD QUARTER New Inventory 228,130 sq.m, 80% of which was rented before construction was finished at the MD Clas (PE), Cargo Park (RJ), Maxi Cic (PR), Ebpark Jundiaí (SP), Global Jundiaí (SP) and Centro Logístico Armazenna 2 (PE). Liquid Absorption The lowest of the year, at 200,750 sq.m. Approximately 55,920 sq.m were vacated in the entire national territory, 83% of which in the Southeast. Vacancy Rate 6.6%, influenced by the South and Northeast. Average Asking Price for Rent R$ 19.00/sq.m/month. The highest average asking price in Brazil was in the Southeast, at R$ 19.60/ sq.m/month. 4TH QUARTER New Inventory The forecast for 813,840 sq.m of new product was not reached, as only 27% of this number was finished. New stock was distributed between the following parks: Cone Plug & Play (PE), GR Campinas (SP), Ceipe - Condomínio Empresarial e Industrial de Pernambuco (PE), Eco Prime Condomínio Empresarial (SP), Business Park Itapevi (SP), Business Park Bandeirantes (RJ) and Log Jundiaí (SP). Liquid Absorption 253,407 sq.m a 26% increase compared to the previous quarter. Vacancy Rate 6.0%, the lowest since the start of Average Asking Price for Rent R$ 18.90/sq.m/month at the end of the year, an increase of 6.8%. TRENDS IN THE INDUSTRIAL CONDOMINIUM MARKET FOR 2012 New Inventory 3.4 million new square meters of product on the market, mostly in the Southeast and Northeast, with 65% and 26% respectively. Forecasts are for some 1.6 million square meters by the end of the first semester, 50% of which are expected to be rented before construction is completed. Liquid Absorption Estimates are for 900,000 sq.m. Vacancy Rate Variation between 7% and 9%. Increasing trend over the first semester. Average Asking Price for Rent Accumulated increase of 7% over the year (effective inflation for the period). P. 8 COLLIERS INTERNATIONAL

9 MARKET REPORT INDUSTRIAL 4Q LIQUID ABSORPTION X INVENTORY X VACANCY RATE ( ) 10,000,000 8,000,000 8,515, % 14% 6,000,000 5,743,463 4,000,000 3,996,962 11% 2,000, % 1,095, % 1,869,326 8% 0 146, * 5% Net Accumulated Absorption (sq.m) Existing Stock (sq.m) Vacancy Rate (%) *Colliers Projections Statistics Table Existing Class A Industrial Condominiums in Brazil Region Nº of Condominiums Existing Inventory (m²) Vacancy Rate 4Q Vacancy Rate 3Q Absorption (m²) 4Q Avg. Asking Price for Rent (R$/sq.m/mo.) Q4 Avg. Asking Price for Rent (R$/sq.m/mo.) Q4 Central West 2 39, % 0.0% 1, North 1 117, % 9.9% 11, Northeast 4 318, % 0.5% 57, Southeast 80 4,781, % 7.0% 157, South 7 486, % 5.0% 24, Total 94 5,743, % 6.6% 253, Exchange Rate: US$ 1 = R$ 1.87 I Colliers. The best Industrial Real Estate Consulting. Proven experience in the whole country. Landlord representation Colliers is a national leader in industrial real estate transactions for acquisitions, sales, leasing, contract renegotiation, tenant and landlord representation. Besides the numerous Build-to-Suit transactions, Colliers is responsible for commercial transactions involving industrial assets in major distribution centers of the country. industrial@colliers.com.br Tenant Representation Sales and Lease Lease Contract Negociation Build-to-Suit Operations Sale & Leaseback Operations COLLIERS INTERNATIONAL P. 9

10 MARKET REPORT INDUSTRIAL 4Q COLLIERS OPPORTUNITIES Lease - Hortolândia - SP Total Area: 53,491 Sq.m Available Area: 53,000 Sq.m Ref Lease Campos dos Goytacazes - RJ Land Area: 47,320 Sq.m Ref. Lease - Sumaré - SP Terreno Area: m² Construction area: 276,275 Sq.m Lease Cabo de Sto Agostinho - PE Terreno Area: 15,000,000 Sq.m Ref Colliers International 512 offices in 61 countries in 6 continents USA: 125 Canada: 38 Latin America: 18 US$ 1.5 billion in annual revenue More than 90 million sq.m under management More than 12,500 professionals REAL ESTATE MARKET VOCABULARY Real Estate Investments Lease - Louveira - SP Land Area: 51,571 Sq.m Construction area: 30,121 Sq.m Ref Lease - Guarulhos - SP Land Area: 1,200,000 Sq.m Construction area: 281,000 Sq.m 1 phase Ref Absorption: Amount of sq.m occupied in the previous period. Development category: Real estate properties are classified as A+, A, B and C. Stock / Inventory: Amount of usable constructed area in square meters. Vacancy Rate: Ratio between area available area and total area COLLIERS INTERNATIONAL BRAZIL REAL ESTATE CONSULTANCY FOR INDUSTRIAL, OFFICE, RETAIL, LAND, RURAL, HOTELS, HOSPITALS AND EDUCATIONAL INSTITUTIONS Tenant and Landlord Representation - Leasing, Acquisition and Sale Advisory and Disposals for real estate assets and/or portfolios Sale or Lease - Extrema - MG Terreno Area: 469,257 Sq.m Construction area: 34,094 Sq.m Ref Lease Duque de Caxias - RJ Construction area: 44, Sq.m Ref Free Ceilings Height: Space between the finished flooring and the 1st structure ceiling interference. Build-to-Suit: Customized construction CONTACTS IN BRAZIL São Paulo R. Olimpíadas, andar São Paulo SP TEL Rio de Janeiro Av. Almirante Barroso, Rio de Janeiro RJ TEL Recife Av.Gov. Agamenom Magalhães, Recife PE TEL More Information: RESEARCH AND MARKET INTELLIGENCE research@colliers.com.br INDUSTRIAL industrial@colliers.com.br This document was prepared by Colliers International Brazil specifically for advertising and general information. All content could be change without previous notice. Any interested party should take their own investigations into the accuracy of the information. Colliers International excludes all inferred or implied by the terms, conditions and responsibilities of this document and excludes all liability for damages arising out of it. Prohibited total or partial reproduction. Build-to-Suit and Sale & Leaseback Operations Lease Administration and Property Management Real Estate Valuation for Leasing, Acquisition, Sale and Guarantee Market and Technical-Financial studies, Highest and Best use studies Advisory for Investment Funds and Private Investors Green Consulting for LEED certification Accelerating success.