The following table summarizes certain information with respect to the lease expirations of our prop- erties as of December 31, 2004:  The following table is a summary of our lease activity for the year ended December 31, 2004, comput- ed on a Cash Basis and on a GAAP Basis:  (1) Includes 22 month-to-month leases for approximately 39,000 square feet. P 17 TI’s/Lease Rental Commissions Average Number Square Expiring New Rate Per  Lease of Leases Footage Rates Rates Changes Square Foot Terms LEASING ACTIVITY Lease Expirations Cash Basis 81 1,160,728 $ 24.24 -  -  -  -  GAAP Basis 81 1,160,728 $ 25.23 -  -  -  -  Renewed/Releasable Space Leased Cash Basis 40 701,688 $ 23.84 $ 24.69 3.6% $ 2.35 4.7 Years GAAP Basis 40 701,688 $ 25.26 $ 27.46 8.7% $ 2.35 4.7 Years Month-to-Month Leases In Effect Cash Basis 22 39,115 $ 19.56 $ 19.58 0.1% -  -  GAAP Basis 22 39,115 $ 19.50 $ 19.58 0.4% -  -  Redeveloped/Developed/ Vacant Space Leased Cash Basis 38 444,231 -  $ 24.34 -  $ 18.06 7.7 Years GAAP Basis 38 444,231 -  $ 28.91 -  $ 18.06 7.7 Years LEASING ACTIVITY SUMMARY Excluding Month-to-Month Leases Cash Basis 78 1,145,919 -  $ 24.55 -  $ 8.44 5.9 Years GAAP Basis 78 1,145,919 -  $ 28.02 -  $ 8.44 5.9 Years Including Month-to-Month Leases Cash Basis 100 1,185,034 -  $ 24.39 -  -  - GAAP Basis 100 1,185,034 -  $ 27.74 -  -  -  Square Percentage of Annualized  Year of Number  Footage  Aggregate Base Rent of Lease of Expiring of Expiring Portfolio Leased Expiring Leases Expiration Leases Leases Square Feet (per square foot) 2005 74  (1) 471,854 7.3% $25.58 2006 44 880,169 13.6% $24.43 2007 26 660,500 10.2% $24.50 2008 17 409,580 6.3% $26.78 2009 20 516,954 8.0% $21.95 Thereafter 68 3,527,566 54.6% $27.04