6/30/11 9/30/11 12/31/11 3/31/11 6/30/12 9/30/12 12/31/12 3/31/13 6/30/13 9/30/13 12/31/13 3/31/14 6/30/14 9/30/14 12/31/14 $1,700 MM $1,500 MM $1,300 MM $1,100 MM $900 MM $700 MM $500 MM $300 MM $100 MM Real Estate Cost Basis Pipeline $’s ACQUISITION ACTIVITY PORTFOLIO SUMMARY As of December 31, 2014 Square Footage Annualized Base Rental  Revenue  (1) Building Type # of  Buildings Amount % Occupancy Amount % Warehouse 178 40,336,909 85.8% 95.2% $143,855,095 83.6% Light Manufacturing 50 5,548,640 11.8% 96.4% 19,517,680 11.3% Flex/Office 20 1,138,527 2.4% 73.6% 8,851,054 5.1% TOTAL 248 47,024,076 100.0% 94.9% $172,223,829 100.0% 83.6% WAREHOUSE  11.3% MANUFACTURING 5.1% FLEX/OFFICE (1) “Annualized Base Rental Revenue” (“ABR”) means the monthly base cash rent for the applicable property or properties as of December 31, 2014, (which is differ- ent from rent calculated in accordance with U.S. generally accepted accounting principals for purposes of our financial statements), multiplied by 12. If a tenant is  in a free rent period as of December 31, 2014, the annualized rent is calculated based on the first contractual monthly base rent amount multiplied by 12. GLYPH<six.lin>