September 2008

Is Lehman the next BearStearns, we'll know on Wednesday 9/10.
The REITS are holding their own but the retail #'s are hurting the store growth in the USA, if the
reits like ProLogis have Int'l exposure, then they are growing in Asia while flat in the Americas.
However the US reits with retail only exposure are flat lined from here on till the end of 2008.
Locally, we are at a pivot point , oil continues to fall hard and we could have $2.75 per gallon gas in a few weeks. Making trucking to Exit 8A less expensive and possibly filling more space down there as a result. Time will tell. Small flex is doing well Everywhere, office is still stumbling along while medical office space is behaving well and continues to grow.
Stay tuned,
Chris