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CBRE <br />MARKETVI <br />EW MINNEAPOLIS/ST. PAUL INDUSTRIAL <br />LOCAL ECONOMIC CONDITIONS <br />Despite Minnesota's unemployment rate ticking <br />up 10 bps to 3.8% in May, the figure has decreased <br />from 4.6% in the previous quarter to 3.6% in Q2 <br />2015. With the participation rate reaching its fifth <br />consecutive month of improvement despite baby <br />boomers departing the workforce, the statistic is a <br />positive sign for the economy. More relative to the <br />industrial side of the market are the adverse effects <br />of the spreading bird flu. Millions of chickens and <br />turkeys have contracted the virus. This epidemic <br />has wiped out entire farms across the state. The <br />manufacturing industry is feeling the majority of <br />the blow with infected farms decreasing activity. <br />Figure 8: Top Lease Transactions <br />Figure 7: Unemployment <br />12% <br />9% <br />6% <br />3% <br />0% <br />United States • 5.3% <br />Minnesota • 3.6% <br />Twin Cities • 3.4% <br />i <br />2009 2010 2011 2012 2013 2014 May -15 <br />Source: BLS and MN DEED, May 2015 <br />*Non -seasonally adjusted figures <br />Tenant Size (Sq. Ft.) Address Transaction Type <br />Polaris <br />870,128 <br />901 Canterbury Rd <br />New Lease <br />Amazon <br />162,000 <br />5825E 1 It Ave <br />Expansion <br />The Bernard Group <br />156,333 <br />19011 Lake Dr E New Lease <br />Flint Hills Resources <br />87,481 <br />3747117th St New Lease <br />Koch Logistics 77,063 429-475 Prior Ave N New Lease <br />Best Warehousing and Transportation 68,051 807 Hampden Ave Expansion <br />Source: CBRE Research, 02 2015. <br />Q2 2015 CBRE Research © 2015 CBRE, Inc. 1 5 <br />