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Market Conditions Overview — continued <br />Market Supply <br />Search Parameters: Source: CoStar <br />Property Type: Commercial/Industrial Location: Ramsey <br />Search Results: Currently, there are 8 offerings/available properties <br />Market Absorption <br />Search Parameters: Source: CoStar <br />Property Type: Commercial Location: Ramsey <br />Search Results: 4 sales within the past year <br />Supply & Demand: <br />Considering the above market data/statistics, and based on market <br />observations, the subject market appears to be relatively in balance <br />(there are about 24 months of inventory available). <br />Subject Market: <br />Likely an owner occupant for a continued highway commercial use <br />Marketing Time: <br />Market exposure times can vary based on seller motivations; <br />Typically 6-24 months. <br />Market participant comments/ observations: <br />General Comments <br />The local market is showing improved absorption for commercial/industrial <br />properties. Sale prices have been stable, but will likely trend upward once <br />the inventory of distressed properties has moved through the market. This <br />upward trend appears to be occurring now (Rich Lee, Premier Commercial <br />Properties, Inc.) <br />Overall Market Condition: <br />Stable <br />Nagel) Appraisal Incorporated 1952.544.8966 <br />