DEXUS - Management Reports 2010 | FinancialReports.eu

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DEXUS Property Group - ASX release
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2 June 2010

DEXUS Property Group (ASX:DXS) 2010 US Property Synopsis

DEXUS Property Group (DXS) provides a copy of the 2010 US Property Synopsis.

For further information contact:

Media Relations Investor Relations Emma Parry T: (02) 9017 1133 Daniel Rubinstein T: (02) 9017 1336 M: 0421 000 329 M: 0466 016 725 E: [email protected] E: [email protected] Karol O’Reilly T: (03) 8611 2930 M: 0405 134 856 E: [email protected]

About DEXUS

DEXUS is one of Australia’s leading property groups specialising in owning, managing, developing world-class office, industrial and retail properties with total assets under management of $13 billion. In Australia, DEXUS is the number 1 owner/manager of office, number 3 in industrial and, on behalf of third party clients, a leading manager and developer of shopping centres. DEXUS is committed to being a market leader in Corporate Responsibility and Sustainability and has been recognised for the second year running as one of the Global 100 Most Sustainable Corporations at the World Economic Forum in Davos. www.dexus.com www.dexus.com/us

DEXUS Funds Management Ltd ABN 24 060 920 783, AFSL 238163, as Responsible Entity for DEXUS Property Group (ASX: DXS)

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2010 DEXUS Property Group US property SynopSiS

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IntroDUctIon

SUmmary of ProPErtIES 2 US PortfolIo 12 InDEX 47 DIrEctory 48

Cover: Summit oaks, Vanderbilt Way, Santa Clarita, CA iithis page: 9371 Buffalo Avenue, rancho Cucamonga, CA DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010

IntroDUctIon

DEXUS ProPErty GroUP

DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010

SUmmary of ProPErtIES

WESt coaSt ProPErtIES

WESt coaSt ProPErtIES
Property address	State metro area Building type ownership (%) lettable area adjusted for ownership (‘000 sqm)
14555 Alondra Boulevard, La Mirada & 6530 Altura Boulevard, Buena Park 5823 Newton Drive, Carlsbad3 13602 12th Street, Chino	California Los Angeles Distribution Center 100 28.2
	California San Diego Business Park
	California Riverside Distribution Center 100 9.8
14489 Industry Circle, La Mirada 3550 Tyburn Street & 3332–3424 N San Fernando Road, Los Angeles 3590 De Forest Circle, Mira Loma 1450 E Francis Street, 4200 Santa Ana Street, 1951 S Parco Street, 1401 E Cedar Street, 1777 S Vintage Avenue, Ontario 4190 Santa Ana Street, Ontario 12000 Jersey Court, Rancho Cucamonga 11653 6th Street, 9545 Santa Anita Avenue, 9357 Richmond Place & 9371 Buffalo Avenue, Rancho Cucamonga 7510–7520 Airway Road, San Diego Summit Oaks, Vanderbilt Way, Santa Clarita 9210 San Fernando Road, Sun Valley 2210 Oak Ridge Way, Vista3	California Los Angeles Distribution Center 100 10.5
	California Los Angeles Industrial Estate 100 41.9
	California Riverside Distribution Center 100 23.3
	California Riverside Industrial Estate 100 53.1
	California Riverside Industrial Estate 100 9.2
	California Riverside Distribution Center 100 8.2
	California Riverside Industrial Estate 100 39.9
	California San Diego Industrial Estate 100 11.2
	California Los Angeles Office Park 92 13.6
	California Los Angeles Industrial Estate 100 16.9
	California San Diego Business Park

WhIrlPool ProPErtIES

WhIrlPool ProPErtIES
Property address	State metro area Building type ownership (%) lettable area adjusted for ownership (‘000 sqm)
3691 North Perris Boulevard, Perris 13201 South Orange Avenue, Orlando 195 King Mill Road, McDonough4 6241 Shook Road, Lockbourne, Columbus4 19700 38th Avenue East, Spanaway4 8574 Boston Church Road, Milton10	California Riverside Warehouse 100 156.7
	Florida Orlando Distribution Center 100 46.7
	Georgia Atlanta Distribution Center 100 139.4
	Ohio Columbus Distribution Center 100 147.6
	Washington Seattle Distribution Center 100 82.8
	Ontario Toronto Industrial/Warehouse 100 70.1

2 DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010

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lettable area	acquisition	Book value at	Independent	Independent	market/	leased	Weighted
(‘000 sf)	date	Dec 31, 2009	valuation date	valuation	Stabilized	by area	lease term
		(US$m)7		(US$m)	cap rate	(%)	by income
					(%)8		(years)
1,687.0	Jan 2008	86.0	Dec 2009	86.0	7.75	100	8.1
503.0	Jun 2007	23.5	Dec 2009	23.5	8.00	100	7.5
1,500.0	Nov 2009	63.0			7.26	100	9.9
1,589.0	Jul 2009	60.5	Dec 2009	60.5	7.50	100	9.6
891.6	Oct 2009	54.4			7.94	100	9.8
755.0	Dec 2007	51.5	Dec 2009	51.5	9.25	100	8.0

DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010 3

SUmmary of ProPErtIES contInUED

cEntral – EaSt coaSt ProPErtIES

cEntral – EaSt coaSt ProPErtIES
Property address	State metro area Building type ownership (%) lettable area adjusted for ownership (‘000 sqm)
844 44th Avenue, Phoenix 3802–3922 East University Drive, Phoenix9 431 North 47th Avenue, Phoenix 220 South 9th Street, Phoenix 1429–1439 South 40th Avenue, Phoenix 105–107 South 41st Avenue, Phoenix 601 South 55th Avenue, Phoenix 1000 South Priest Drive, Phoenix 1858 East Encanto Drive, Tempe3 1120–1150 West Alameda Drive, Tempe 10397 West Van Buren Street, Tolleson 7500 Exchange Drive, Orlando Orlando Central Park, 7600 Kingspointe Parkway, 8259 Exchange Drive, 7451–7488 Brokerage Drive, 2900–2901 Titan Row, Orlando Turnpike Distribution Center, 1580 NW 27th Avenue, Pompano Beach3 Northpoint Business Park, 300–1400 Northpoint Parkway, West Palm Beach3 1000–1200 Williams Street NW, Atlanta	Arizona Phoenix Distribution Center 100 13.5
	Arizona Phoenix Business Park
	Arizona Phoenix Distribution Center 100 15.1
	Arizona Phoenix Distribution Center 100 8.3
	Arizona Phoenix Distribution Center 100 23.5
	Arizona Phoenix Distribution Center 100 35.4
	Arizona Phoenix Distribution Center 100 9.3
	Arizona Phoenix Business Park 100 5.1
	Arizona Phoenix Distribution Center
	Arizona Phoenix Business Park 100 11.3
	Arizona Phoenix Distribution Center 100 25.8
	Florida Orlando Industrial Estate 100 10.8
	Florida Orlando Industrial Estate 100 118.5
	Florida South Florida Distribution Center
	Florida South Florida Distribution Center
	Georgia Atlanta Distribution Center 100 19.3
300 Townpark Drive, Kennesaw	Georgia Atlanta Business Park 100 11.2
7100 Highlands Parkway SE, Smyrna3 5111–5151 Royal Atlanta Drive, Tucker3 850 E Devon Avenue, 1260 N Ellis Street, 371 Meyer Road, Bensenville3 1825 Airport Exchange Boulevard, Erlanger 3368–3372 Turfway Road, Erlanger 7453 Empire Drive, Florence 7930 & 7940 Kentucky Drive, Florence 5–11 Spiral Drive, Florence 1910 International Way, Hebron Fort Holabird Industrial, 1811 & 1831 Portal Street, & 6615 Tributary Street, Baltimore 9112 Guilford Road, Columbia 8350 & 8351 Bristol Court, Jessup MD Wholesale Food Market, 7951 Ocean Avenue & 7970 Tarbay Drive, Jessup 8306 Patuxent Range Road & 8332 Bristol Court, Jessup 8155 Stayton Drive, Jessup	Georgia Atlanta Business Park
	Georgia Atlanta Industrial Estate
	Ilinois Chicago Industrial/ Warehouse
	Kentucky Cincinnati Distribution Center 100 6.3
	Kentucky Cincinnati Industrial Estate 100 10.4
	Kentucky Cincinnati Distribution Center 100 18.3
	Kentucky Cincinnati Industrial Estate 100 32.2
	Kentucky Cincinnati Business Park 100 5.8
	Kentucky Cincinnati Industrial Estate 100 27.9
	Maryland Baltimore Distribution Center 100 16.0
	Maryland Baltimore Business Park 100 5.1
	Maryland Baltimore Distribution Center 100 12.4
	Maryland Baltimore Distribution Center 100 42.2
	Maryland Baltimore Business Park 100 14.1
	Maryland Baltimore Industrial Estate 100 11.7

4 DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010

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lettable area acquisition Book value at Independent Independent market/ leased Weighted
(‘000 sf) date Dec 31, 2009 valuation date valuation Stabilized by area lease term
(US$m) [7] (US$m) cap rate (%) by income
(%) [8] (years)
145.0 Sep 2004 6.2 Dec 2009 6.2 8.50 100 4.0
163.0 Sep 2004 4.7 Jun 2009 7.5 9.52 100 5.4
89.0 Sep 2004 5.8 Dec 2009 5.8 8.75 100 2.3
253.0 Sep 2004 9.1 Dec 2009 9.1 9.50 55 7.1
381.0 Sep 2004 12.4 Dec 2009 12.4 9.50 79 2.8
100.0 Sep 2004 4.2 Jun 2009 5.7 9.02 100 4.7
55.0 Sep 2004 2.9 Dec 2009 2.9 13.02
122.0 Sep 2004 5.5 Dec 2009 5.5 8.75 83 1.6
278.0 Sep 2004 8.0 Dec 2009 8.0 9.00 100 2.2
116.0 Sep 2004 4.7 Jun 2009 4.8 8.84 100 1.1
1,275.0 Sep 2004 54.0 Dec 2009 54.0 8.25 94 2.7
208.0 Sep 2004 7.1 Jun 2009 7.2 11.61 49 4.2
121.0 Sep 2004 5.5 Jun 2009 6.7 9.74 84 1.4
68.0 Sep 2004 2.6 Dec 2009 2.6 10.00 51 2.3
112.0 Sep 2004 3.7 Jun 2009 4.0 9.96 61 1.6
197.0 Sep 2004 5.1 Dec 2009 5.1 9.75 93 0.6
347.0 Sep 2004 13.0 Dec 2009 13.0 9.25 100 7.4
62.0 Sep 2004 4.0 Dec 2009 4.0 9.75 84 4.3
300.0 Sep 2004 8.8 Jun 2009 10.2 9.93 100 4.8
172.0 Jun 2005 9.2 Dec 2009 9.2 8.75 100 2.6
55.0 Sep 2004 7.2 Jun 2009 8.0 9.28 100 5.1
133.0 Sep 2004 9.0 Jun 2009 10.4 9.95 94 1.9
454.0 Sep 2004 16.0 Dec 2009 16.0 9.00 88 2.9
152.0 Sep 2004 8.3 Jun 2009 11.4 9.72 73 0.7
126.0 Sep 2004 6.6 Jun 2009 7.8 6.67 100 3.0
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DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010

SUmmary of ProPErtIES contInUED

cEntral – EaSt coaSt ProPErtIES

cEntral – EaSt coaSt ProPErtIES
Property address	State metro area Building type ownership (%) lettable area adjusted for ownership (‘000 sqm)
1015 & 1025 West Nursery Road, Linthicum Heights Cabot Techs, 989–991 Corporate Boulevard, Linthicum Heights NE Baltimore, 21 & 23 Fontana Lane, Rosedale 10 Kenwood Circle, Franklin3 Braemar Ridge, 7500 West 78th Street, Bloomington Brooklyn Park Interstate Center, 7700 68th Avenue, Brooklyn Park Eagandale Business Campus, 1285 & 1301 Corporate Center Drive & 1230 & 1270 Eagan Industrial Road, Eagan 7401 Cahill Road, Minneapolis3 6105 Trenton Lane North, Minneapolis 8575 Monticello Lane, Osseo 2950 Lexington Avenue South, St Paul 2222–2298 Wooddale Drive, St Paul 9900 Brookford Street, Charlotte Commerce Park, 11517 Cordage Street & 10900 S Commerce Boulevard, Charlotte9 3520–3600 Westinghouse Boulevard, Charlotte 4560 & 4570 Lake Forest Drive, Cincinnati3 World Park, 9756 & 9842 International Boulevard, Cincinnati 10013–11093 Kenwood Road, Cincinnati	Maryland Baltimore Industrial Estate 100 8.2
	Maryland Baltimore Business Park 100 12.2
	Maryland Baltimore Industrial Estate 100 10.1
	Massachusetts Boston Distribution Center
	Minnesota Minneapolis Business Park 100 6.9
	Minnesota Minneapolis Distribution Center 100 8.5
	Minnesota Minneapolis Business Park 100 22.3
	Minnesota Minneapolis Industrial Estate
	Minnesota Minneapolis Distribution Center 100 11.3
	Minnesota Minneapolis Distribution Center 100 3.6
	Minnesota Minneapolis Distribution Center 100 17.1
	Minnesota Minneapolis Distribution Center 100 29.8
	North Carolina Charlotte Distribution Center 100 11.3
	North Carolina Charlotte Distribution Center
	North Carolina Charlotte Distribution Center 100 52.9
	Ohio Cincinnati Distribution Center
	Ohio Cincinnati Distribution Center 100 36.9
	Ohio Cincinnati Distribution Center 100 71.5
4343 & 4401 Equity Drive, 1614–1634 & 1999 Westbelt Drive & 1901–1919 Dividend Drive, Columbus 2700 International Street, Columbus SE Columbus, 2550 John Glenn Avenue & 2626 Port Road, Columbus 3800 Twin Creeks Drive, Columbus3 124 Commerce Boulevard, Loveland Mechanicsburg, 5045 Ritter Road & 201 Cumberland Parkway, Harrisburg9 6350 & 6360 Brackbill Boulevard, Mechanicsburg 181 Fulling Mill Road, Middletown9 Memphis Industrial, 3965 Pilot Drive, Memphis3 912 113th Street & 2300 East Randoll Mill Road, Arlington 1413 Bradley Lane, Carrollton3 455 Airline Drive, Coppell3	Ohio Columbus Industrial Estate 100 85.5
	Ohio Columbus Industrial Estate 100 14.2
	Ohio Columbus Distribution Center 100 33.6
	Ohio Columbus Industrial Estate
	Ohio Cincinnati Distribution Center 100 3.3
	Pennsylvania Harrisburg Distribution Center
	Pennsylvania Harrisburg Distribution Center 100 45.9
	Pennsylvania Harrisburg Distribution Center
	Tennessee Memphis Distribution Center
	Texas Dallas Business Park 100 12.2
	Texas Dallas Business Park
	Texas Dallas Industrial Estate

6 DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010

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lettable area acquisition Book value at Independent Independent market/ leased Weighted
(‘000 sf) date Dec 31, 2009 valuation date valuation Stabilized by area lease term
(US$m) [7] (US$m) cap rate (%) by income
(%) [8] (years)
88.0 Sep 2004 5.0 Jun 2009 7.3 9.84 99 1.9
131.0 Sep 2004 18.3 Dec 2009 18.3 9.00 96 1.4
109.0 Sep 2004 6.4 Jun 2009 7.2 9.46 100 1.9
74.0 Nov 2005 3.6 Jun 2009 4.3 10.45 54 2.7
92.0 Nov 2005 2.6 Jun 2009 2.9 11.63 44 0.0
240.0 Nov 2005 12.5 Jun 2009 13.3 10.85 85 1.8
122.0 Sep 2004 6.5 Jun 2009 6.9 8.86 100 7.8
39.0 Sep 2004 1.6 Jun 2009 1.7 8.81 100 1.0
184.0 Sep 2004 6.1 Dec 2009 6.1 9.50 63 1.5
321.0 Sep 2004 14.5 Dec 2009 14.5 10.00 95 2.1
122.0 Sep 2004 3.1 Jun 2009 3.4 11.43 51 2.6
569.0 Sep 2004 16.1 Jun 2009 18.0 8.87 94 1.5
397.0 Sep 2004 8.3 Dec 2009 8.3 9.25 100 0.7
770.0 Sep 2004 14.7 Dec 2009 14.7 9.00 89 2.4
920.0 Sep 2004 27.3 Dec 2009 27.3 9.25 98 4.7
153.0 Sep 2004 2.7 Dec 2009 2.7 9.25 100 0.2
362.0 Sep 2004 8.5 Dec 2009 8.5 8.75 93 4.5
35.0 Sep 2004 2.0 Dec 2009 2.0 9.25 100 1.1
494.0 Sep 2004 12.6 Jun 2009 13.0 13.74
131.0 Sep 2004 6.8 Jun 2009 6.9 11.27 100 1.2
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DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010

SUmmary of ProPErtIES contInUED

cEntral – EaSt coaSt ProPErtIES

cEntral – EaSt coaSt ProPErtIES
Property address	State metro area Building type ownership (%) lettable area adjusted for ownership (‘000 sqm)
555 Airline Drive, Coppell 1900 Diplomat Drive, Dallas 2055 Diplomat Drive, Dallas 11411, 11460–11480 & 11550–11560 Hillguard Road, Dallas CTC at Valwood, 13755 Hutton Drive, Dallas 11011 Regency Crest Drive, Garland Garland Jupiter, Garland5, 6 Plano Parkway, Plano5, 6 1800–1808 10th Street, Plano 820–860 F Avenue, Plano 1600–1700 Capital Avenue, Plano 3601 East Plano Parkway & 1000 Shiloh Road, Plano 2701, 2801, 2805 East Plano Parkway & 2700 Summit Avenue, Plano 885 East Collins Boulevard, Richardson Cornerstone Building, 5411 I–10 East & 1228 Cornerway Boulevard, San Antonio 302–402 N Tayman Road, San Antonio 202 S Tayman Road, San Antonio 1803 Grandstand Drive, San Antonio 8151–8161 Interchange Parkway, San Antonio 8171 Interchange Parkway, San Antonio5, 6 8181 Interchange Parkway, San Antonio5, 6	Texas Dallas Industrial Estate 100 13.1
	Texas Dallas Business Park 100 7.7
	Texas Dallas Business Park 100 4.9
	Texas Dallas Industrial Estate 100 23.0
	Texas Dallas Business Park 100 4.4
	Texas Dallas Distribution Center 100 16.4
	Texas Dallas Land 100
	Texas Dallas Land 100
	Texas Dallas Industrial Estate 100 19.4
	Texas Dallas Business Park 100 6.8
	Texas Dallas Industrial Estate 100 9.4
	Texas Dallas Industrial Estate 100 26.7
	Texas Dallas Industrial Estate 100 28.5
	Texas Dallas Business Park 100 5.2
	Texas San Antonio Industrial/ Warehouse 100 26.8
	Texas San Antonio Industrial/ Warehouse 100 38.6
	Texas San Antonio Industrial/ Warehouse 97 25.6
	Texas San Antonio Industrial/ Warehouse 100 12.4
	Texas San Antonio Industrial/ Warehouse 100 19.5
	Texas San Antonio Land 97
	Texas San Antonio Land 97
8191 Interchange Parkway, San Antonio5, 6	Texas San Antonio Land 97
Interchange North 1, 3003, 3005 NE I–410 Loop, San Antonio Tri-County 2, Tri-County Parkway, Schertz5, 6 Tri-County 5, Tri-County Parkway, Schertz Tri-County 6, Tri-County Parkway, Schertz 850 North Lake Drive, Weatherford 300 & 405–444 Swann Avenue, 2402–2520 Oakville Street & 2412–2610 Jefferson Davis Highway, Alexandria	Texas San Antonio Industrial/ Warehouse 97 8.3
	Texas San Antonio Land 97
	Texas San Antonio Industrial/ Warehouse 97 3.3
	Texas San Antonio Industrial/ Warehouse 97 5.2
	Texas Dallas Distribution Center 100 21.4
	Virginia Northern Virginia Industrial Estate 100 40.9

8 DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010

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lettable area acquisition Book value at Independent Independent market/ leased Weighted
(‘000 sf) date Dec 31, 2009 valuation date valuation Stabilized by area lease term
(US$m) [7] (US$m) cap rate (%) by income
(%) [8] (years)
141.0 Sep 2004 4.8 Jun 2009 5.1 10.20 100 2.6
83.0 Sep 2004 2.9 Jun 2009 3.0 13.16 100 0.6
53.0 Sep 2004 2.3 Jun 2009 2.2 12.77 100 1.9
248.0 Sep 2004 6.7 Jun 2009 7.9 11.63 100 2.2
47.0 Sep 2004 3.0 Jun 2009 3.1 10.56 100 1.9
177.0 Sep 2004 5.0 Jun 2009 5.9 10.24 100 2.2
Jun 2006 2.8 Jun 2009 2.8
Jun 2006 1.8 Jun 2009 1.8
209.0 Sep 2004 9.2 Jun 2009 8.7 9.42 100 4.7
73.0 Sep 2004 4.8 Jun 2009 4.8 10.77 100 2.6
101.0 Sep 2004 4.8 Jun 2009 4.8 10.96 83 2.8
287.0 Sep 2004 9.2 Dec 2009 9.2 9.50 44 3.6
307.0 Sep 2004 19.3 Dec 2009 19.3 9.09 87 2.6
56.0 Sep 2004 2.4 Jun 2009 2.3 11.71 75 0.8
288.0 Aug 2007 12.2 Jun 2009 12.0 9.91 75 8.0
416.0 Oct 2007 17.0 Dec 2009 17.0 8.50 89 9.0
275.4 Nov 2007 5.6 Jun 2009 8.8
134.0 Aug 2007 7.6 Jun 2009 8.0 9.60 72 5.1
210.0 Jul 2007 12.0 Jun 2009 12.0 10.01 93 4.3
Jul 2007 0.5 Jun 2009 0.5
Jul 2007 0.5 Jun 2009 0.5
Jul 2007 0.4 Jun 2009 0.4
88.9 Jul 2007 2.5 Jun 2009 4.4
Jul 2007 0.7 Jun 2009 0.8
35.7 Jul 2007 0.9 Jun 2009 2.0
56.1 Jul 2007 1.3 Jun 2009 3.0
230.0 Sep 2004 9.8 Jun 2009 8.5 9.79 100 6.4
440.0 Sep 2004 38.7 Jun 2009 39.4 10.10 84 4.0
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DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010

SUmmary of ProPErtIES contInUED

cEntral – EaSt coaSt ProPErtIES

cEntral – EaSt coaSt ProPErtIES
Property address	State metro area Building type ownership (%) lettable area adjusted for ownership (‘000 sqm)
326–446 Calvert Avenue & 401–403 Murry’s Avenue, Alexandria Beaumeade Telecom, 21561–21571 Beaumeade Circle, Ashburn3 Beaumeade, Ashburn3 44633–44645 Guilford Road and 21641 Beaumeade Circle, Ashburn CTC at Dulles, 13555 EDS Drive, Herndon 45901–45905 Nokes Boulevard, Sterling3 Atlantic Corporate Park, 45600 & 45610 Woodland Road, Sterling Kent West Corporate Park, 21902 64th Avenue S, Kent Riverbend Commerce Park, 8005 South 266th Street, Kent Riverbend Commerce Park, 26507 79th Avenue South, Kent	Virginia Northern Virginia Industrial Estate 100 4.6
	Virginia Northern Virginia Business Park
	Virginia Northern Virginia Land
	Virginia Northern Virginia Business Park 100 16.4
	Virginia Northern Virginia Business Park 100 9.7
	Virginia Northern Virginia Business Park
	Virginia Northern Virginia Office Park 100 19.5
	Washington Seattle Industrial Estate 100 37.4
	Washington Seattle Distribution Center 100 8.5
	Washington Seattle Business Park 100 3.3

notes:

All data is based on December 31, 2009 values including any future committed acquisitions or disposals.
Properties are equity accounted.
Assets sold prior to December 31, 2009.
New whole or partial acquisition in the period to December 31, 2009.
Vacant land.
Book values include development properties held as investment property.
The book value column includes Development assets that are held at fair value.
Market/Stabilized Capitalisation Rate is the capitalisation rate resulting from the book value.
Assets sold after December 31, 2009.
Values in Canadian dollars.

10 DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010

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DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010 11

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US PortfolIo

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Seattle
Washington
Seattle
1,422,600sf
5.8% port/area
US$85m value
7.4% port/value
4 properties
Los Angeles
1,196,000sf
4.9% port/area
US$112m value
9.8% port/value
5 properties California
Arizona
Riverside
Riverside Phoenix
3,232,000sf Los Angeles
13.2%port/area San Diego Dallas
US$154m value
13.4% port/value Texas
7 properties
San Antonio
San Diego Phoenix San Antonio Dallas
121,000sf 1,586,000sf 1,048,000sf 2,143,000sf
0.5% port/area 6.5% port/area 4.3% port/area 8.8% port/area
US$7m value US$58m value US$61m value US$96m value
0.6% port/value 5.1% port/value 5.3% port/value 8.4% port/value
1 property 9 properties 12 properties 16 properties
includes four land parcels.
includes two land parcels.
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12 DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010

Cincinnati

Columbus

Toronto

2,288,000sf 9.4% port/area US$62m value 5.4% port/value 9 properties

3,024,000sf 755,000sf 12.4% port/area 100% port/area US$99m value CAD$52m value 8.6% port/value 100% port/value 4 properties 1 property

MinnMinnesota M Minneapolis Toronto Pennsylvania Ohio Columbus Harrisburg Cincinnati Nth Virginia Baltimore Virginia Maryland North Carolina Charlotte Atlanta

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Georgia Florida

Orlando

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Harrisburg 494,000sf 2.0% port/area US$13m value 1.1% port/value 1 property

Baltimore

1,420,000sf 5.8% port/area US$86m value 7.5% port/value 9 properties

Nth Virginia 980,000sf 4.0% port/area US$90m value 7.8% port/value 5 properties

Charlotte

691,000sf 2.8% port/area US$19m value 1.7% port/value 2 properties

Minneapolis Orlando 1,072,000sf 1,894,000sf 4.4% port/area 7.7% port/area US$47m value US$82m value 4.1% port/value 7.1% port/value 7 properties 3 properties

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Atlanta

1,829,000sf 7.5% port/area US$76m value 6.6% port/value 3 properties

DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010 13

US PortfolIo contInUED

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844 44th Avenue, Phoenix, Arizona

431 North 47th Avenue, Phoenix, Arizona

220 South 9th Street, Phoenix, Arizona

The property is located one mile south of I-10 off 43rd Avenue, south of Roosevelt Street. One-story concrete tilt-up, multi-tenant, warehouse building. Roof system is built-up tar.

The property is located approximately one mile south of I-10 at the northwest corner of Polk Street and 47th Avenue. One-story concrete tilt-up, single tenant, warehouse building. Roof system is built-up tar.

The property is located northwest of the I-10 and I-17 interchange. One-story concrete tilt-up, multi-tenant, warehouse building. Roof system is built-up tar.

Details

Metro Area Phoenix BuildingType Distribution Center Ownership (%) 100 Zoning I2 Year Built 1987 Site Area(acres) 7.8 Lettable Area(‘000sf) 145.0 Site Coverage(%) 43 Number of Buildings 1 Number of Units 2 Average Unit Size(‘000sf) 72.0 Office Content(%) 5 Car ParkingSpaces 135 Acquisition Date Sep-2004 Acquisition Priceplus Additions(US$m) 5.37 Book Value(US$m) 6.2 Independent Valuation Date Dec-2009 Independent Valuation(US$m) 6.2 Market CapRate(%) 8.5 Average Net PassingRent(US$/sf) 4.33 Average Net Market Rent(US$/sf) 3.60 Initial Yield(%) 9.34 Discount Rate(%) 9.50 Major Tenant Iron Mountain Incorporated Leased ByArea(%) 100 Weighted Lease Term byIncome(years) 4.0 Available(%) 0 Year 2010(%) 0 Year 2011(%) 0 Year 2012(%) 0 Year 2013(%) 44 Year 2014(%) 56 Year 2015(%) 0 Year 2016(%) 0 Year 2017(%) 0 Year 2018(%) 0 Year 2019+(%) 0	Metro Area Phoenix BuildingType Distribution Center Ownership (%) 100 Zoning I-1 Year Built 1986 Site Area(acres) 9.8 Lettable Area(‘000sf) 163.0 Site Coverage(%) 38 Number of Buildings 1 Number of Units 1 Average Unit Size(‘000sf) 163.0 Office Content(%) 2 Car ParkingSpaces 62 Acquisition Date Sep-2004 Acquisition Priceplus Additions(US$m) 5.25 Book Value(US$m) 4.7 Independent Valuation Date Jun-2009 Independent Valuation(US$m) 7.5 Market CapRate(%) 9.52 Average Net PassingRent(US$/sf) - Average Net Market Rent(US$/sf) 4.08 Initial Yield(%) 6.93 Discount Rate(%) 9.00 Major Tenant Freeport Logistics,Inc. Leased ByArea(%) 100 Weighted Lease Term byIncome(years) 5.4 Available(%) 0 Year 2010(%) 0 Year 2011(%) 0 Year 2012(%) 0 Year 2013(%) 0 Year 2014(%) 0 Year 2015(%) 100 Year 2016(%) 0 Year 2017(%) 0 Year 2018(%) 0 Year 2019+(%) 0	Metro Area Phoenix
		BuildingType Distribution Center
		Ownership (%) 100
		Zoning A-1
		Year Built 1983
		Site Area(acres) 4.2
		Lettable Area(‘000sf) 89.0
		Site Coverage(%) 49
		Number of Buildings 1
		Number of Units 5
		Average Unit Size(‘000sf) 18.0
		Office Content(%) 7
		Car ParkingSpaces 197
		Acquisition Date Sep-2004
		Acquisition Priceplus Additions(US$m) 5.95
		Book Value(US$m) 5.8
		Independent Valuation Date Dec-2009
		Independent Valuation(US$m) 5.8
		Market CapRate(%) 8.75
		Average Net PassingRent(US$/sf) 7.65
		Average Net Market Rent(US$/sf) 6.00
		Initial Yield(%) 10.21
		Discount Rate(%) 9.75
		Major Tenant Chompies Bada BingBakery,Inc.
		Leased ByArea(%) 100
		Weighted Lease Term byIncome(years) 2.3
		Available(%) 0
		Year 2010(%) 41
		Year 2011(%) 0
		Year 2012(%) 15
		Year 2013(%) 44
		Year 2014(%) 0
		Year 2015(%) 0
		Year 2016(%) 0
		Year 2017(%) 0
		Year 2018(%) 0
		Year 2019+(%) 0

14 DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010

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1429-1439 South 40th Avenue, Phoenix, Arizona

105-107 South 41st Avenue, Phoenix, Arizona

The property is located approximately 2.5 miles west of I-17 and south of West Buckeye Road. Two, one-story concrete tilt-up, multi-tenant, warehouse buildings. Roof systems are built-up tar.

The property is located one mile south of I-10 at West Van Buren Street and South 41st Avenue. Two, concrete tilt-up, multi-tenant, warehouse buildings. Roof system is built-up tar.

Details

Details	Details
Metro Area Phoenix BuildingType Distribution Center Ownership (%) 100 Zoning A-2 Year Built 1989 Site Area(acres) 12.4 Lettable Area(‘000sf) 253.0 Site Coverage(%) 47 Number of Buildings 2 Number of Units 5 Average Unit Size(‘000sf) 51.0 Office Content(%) 4 Car ParkingSpaces 162 Acquisition Date Sep-2004 Acquisition Priceplus Additions(US$m) 8.40 Book Value(US$m) 9.1 Independent Valuation Date Dec-2009 Independent Valuation(US$m) 9.1 Market CapRate(%) 9.50 Average Net PassingRent(US$/sf) 4.34 Average Net Market Rent(US$/sf) 3.30 Initial Yield(%) 7.05 Discount Rate(%) 9.75 Major Tenant S.P. Richards Company Leased ByArea(%) 55 Weighted Lease Term byIncome(years) 7.1 Available(%) 38 Year 2010(%) 8 Year 2011(%) 0 Year 2012(%) 0 Year 2013(%) 0 Year 2014(%) 0 Year 2015(%) 0 Year 2016(%) 0 Year 2017(%) 0 Year 2018+(%) 54 Year 2019+(%) 0	Metro Area Phoenix
	BuildingType Distribution Center
	Ownership (%) 100
	Zoning A-2
	Year Built 1988
	Site Area(acres) 23.5
	Lettable Area(‘000sf) 381.0
	Site Coverage(%) 37
	Number of Buildings 2
	Number of Units 8
	Average Unit Size(‘000sf) 48.0
	Office Content(%) 4
	Car ParkingSpaces 352
	Acquisition Date Sep-2004
	Acquisition Priceplus Additions(US$m) 12.32
	Book Value(US$m) 12.4
	Independent Valuation Date Dec-2009
	Independent Valuation(US$m) 12.4
	Market CapRate(%) 9.50
	Average Net PassingRent(US$/sf) 3.00
	Average Net Market Rent(US$/sf) 3.24
	Initial Yield(%) 7.68
	Discount Rate(%) 10.00
	Major Tenant Warren Industries,Inc.
	Leased ByArea(%) 79
	Weighted Lease Term byIncome(years) 2.8
	Available(%) 23
	Year 2010(%) 0
	Year 2011(%) 55
	Year 2012(%) 0
	Year 2013(%) 0
	Year 2014(%) 0
	Year 2015(%) 22
	Year 2016(%) 0
	Year 2017(%) 0
	Year 2018(%) 0
	Year 2019+(%) 15

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601 South 55th Avenue, Phoenix, Arizona

The property is located south of I-10 and west of I-17 between West Van Buren and West Buckeye Road. One-story concrete tilt-up, single tenant, warehouse building. Roof system is built-up tar.

Details

Details
Metro Area			Phoenix
BuildingType		Distribution Center
Ownership (%)			100
Zoning			A-2
Year Built			1986
Site Area(acres)			7.7
Lettable Area(‘000sf)			100.0
Site Coverage(%)			30
Number of Buildings			1
Number of Units			1
Average Unit Size(‘000sf)			100.0
Office Content(%)			9
Car ParkingSpaces			50
Acquisition Date			Sep-2004
Acquisition Priceplus Additions(US$m)			3.90
Book Value(US$m)			4.2
Independent Valuation Date			Jun-2009
Independent Valuation(US$m)			5.7
Market CapRate(%)			9.02
Average Net PassingRent(US$/sf)			4.08
Average Net Market Rent(US$/sf)			4.08
Initial Yield(%)			9.02
Discount Rate(%)			9.00
Major Tenant	U.S. Greenfiber,LLC
Leased ByArea(%)			100
Weighted Lease Term byIncome(years)			4.7
Available(%)			0
Year 2010(%)			0
Year 2011(%)			0
Year 2012(%)			0
Year 2013(%)			0
Year 2014(%)			100
Year 2015(%)			0
Year 2016(%)			0
Year 2017(%)			0
Year 2018(%)			0
Year 2019+(%)			0

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1000 South Priest Drive, Phoenix, Arizona

1120-1150 West Alameda Drive, Tempe, Arizona

10397 West Van Buren Street, Tolleson, Arizona

The property is located east of I-10 between University Drive and Broadway Road. One-story concrete tilt-up, single tenant, flex building. Roof system is built-up tar.

The property is located just east of I-10 and I-53 interchange Broadway Road and Southern Avenue. Four, concrete tilt-up, multi-tenant, flex buildings. Roof systems are built-up tar.

The property is located at 84th Avenue between Harrison Street and Jefferson Street, approximately 1/4 mile from I-10 Loop and Loop 101. One-story concrete tilt-up, multi-tenant, warehouse building. Roof system is built-up tar.

Details

Metro Area Phoenix BuildingType Business Park Ownership (%) 100 Zoning I-1 Year Built 1988 Site Area(acres) 3.8 Lettable Area(‘000sf) 55.0 Site Coverage(%) 33 Number of Buildings 1 Number of Units 1 Average Unit Size(‘000sf) 55.0 Office Content(%) 22 Car ParkingSpaces 177 Acquisition Date Sep-2004 Acquisition Priceplus Additions(US$m) 4.20 Book Value(US$m) 2.9 Independent Valuation Date Dec-2009 Independent Valuation(US$m) 2.9 Market CapRate(%) 13.02 Average Net PassingRent(US$/sf) - Average Net Market Rent(US$/sf) 6.25 Initial Yield(%) 2.51 Discount Rate(%) 10.25 Major Tenant - Leased ByArea(%) 0 Weighted Lease Term byIncome(years) - Available(%) 100 Year 2010(%) 0 Year 2011(%) 0 Year 2012(%) 0 Year 2013(%) 0 Year 2014(%) 0 Year 2015(%) 0 Year 2016(%) 0 Year 2017(%) 0 Year 2018(%) 0 Year 2019+(%) 0	Metro Area Phoenix BuildingType Business Park Ownership (%) 100 Zoning I-2 Year Built 1984 Site Area(acres) 5.8 Lettable Area(‘000sf) 122.0 Site Coverage(%) 48 Number of Buildings 4 Number of Units 14 Average Unit Size(‘000sf) 9.0 Office Content(%) 16 Car ParkingSpaces 207 Acquisition Date Sep-2004 Acquisition Priceplus Additions(US$m) 6.69 Book Value(US$m) 5.5 Independent Valuation Date Dec-2009 Independent Valuation(US$m) 5.5 Market CapRate(%) 8.75 Average Net PassingRent(US$/sf) 6.97 Average Net Market Rent(US$/sf) 7.75 Initial Yield(%) 8.47 Discount Rate(%) 9.75 Major Tenant Arizona Board of Regents Leased ByArea(%) 83 Weighted Lease Term byIncome(years) 1.6 Available(%) 19 Year 2010(%) 36 Year 2011(%) 19 Year 2012(%) 17 Year 2013(%) 0 Year 2014(%) 10 Year 2015(%) 0 Year 2016(%) 0 Year 2017(%) 0 Year 2018(%) 0 Year 2019+(%) 0	Metro Area Phoenix
		BuildingType Distribution Center
		Ownership (%) 100
		Zoning I-1 Cityof Tolleson
		Year Built 1997
		Site Area(acres) 14.6
		Lettable Area(‘000sf) 278.0
		Site Coverage(%) 44
		Number of Buildings 1
		Number of Units 1
		Average Unit Size(‘000sf) 278.0
		Office Content(%) 0
		Car ParkingSpaces 173
		Acquisition Date Sep-2004
		Acquisition Priceplus Additions(US$m) 7.18
		Book Value(US$m) 8.0
		Independent Valuation Date Dec-2009
		Independent Valuation(US$m) 8.0
		Market CapRate(%) 9.00
		Average Net PassingRent(US$/sf) 3.84
		Average Net Market Rent(US$/sf) 3.00
		Initial Yield(%) 12.36
		Discount Rate(%) 10.00
		Major Tenant States Logistics Services,Inc.
		Leased ByArea(%) 100
		Weighted Lease Term byIncome(years) 2.2
		Available(%) 0
		Year 2010(%) 0
		Year 2011(%) 0
		Year 2012(%) 100
		Year 2013(%) 0
		Year 2014(%) 0
		Year 2015(%) 0
		Year 2016(%) 0
		Year 2017(%) 0
		Year 2018(%) 0
		Year 2019+(%) 0

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14555 Alondra Boulevard, La Mirada & 6530 Altura Boulevard, Buena Park, California

13602 12th Street, Chino, California

Adjacent to I-5 at the Los Angeles County/Orange County in the city of La Mirada and Buena Park. Access to I-5 at Valley View Avenue or Knott Avenue are within one mile of both buildings. Two, concrete tilt-up, single tenant, warehouse buildings. Roof systems are built-up tar.

The property is located one mile south of the Pomona (60) Freeway between Central and Mountain avenues. One-story concrete tilt-up, multi-tenant, industrial building. Roof system is built-up tar.

Details

Details	Details
Metro Area Los Angeles BuildingType Distribution Center Ownership (%) 100 Zoning Industrial Year Built 1967 Site Area(acres) 15.6 Lettable Area(‘000sf) 304.0 Site Coverage(%) 45 Number of Buildings 2 Number of Units 3 Average Unit Size(‘000sf) 101.0 Office Content(%) 9 Car ParkingSpaces 258 Acquisition Date Sep-2004 Acquisition Priceplus Additions(US$m) 15.17 Book Value(US$m) 14.7 Independent Valuation Date Dec-2009 Independent Valuation(US$m) 14.7 Market CapRate(%) 8.50 Average Net PassingRent(US$/sf) - Average Net Market Rent(US$/sf) 4.37 Initial Yield(%) 6.38 Discount Rate(%) 8.75 Major Tenant Kittrich Corporation Leased ByArea(%) 78 Weighted Lease Term byIncome(years) 2.8 Available(%) 22 Year 2010(%) 0 Year 2011(%) 0 Year 2012(%) 78 Year 2013(%) 0 Year 2014(%) 0 Year 2015(%) 0 Year 2016(%) 0 Year 2017(%) 0 Year 2018(%) 0 Year 2019+(%) 0	Metro Area Riverside
	BuildingType Distribution Center
	Ownership (%) 100
	Zoning M2 - 1 Light Industrial
	Year Built 1987
	Site Area(acres) 4.8
	Lettable Area(‘000sf) 105.0
	Site Coverage(%) 50
	Number of Buildings 1
	Number of Units 2
	Average Unit Size(‘000sf) 52.0
	Office Content(%) 5
	Car ParkingSpaces 168
	Acquisition Date Sep-2004
	Acquisition Priceplus Additions(US$m) 5.36
	Book Value(US$m) 5.4
	Independent Valuation Date Dec-2009
	Independent Valuation(US$m) 5.4
	Market CapRate(%) 8.00
	Average Net PassingRent(US$/sf) 5.76
	Average Net Market Rent(US$/sf) 4.32
	Initial Yield(%) 5.69
	Discount Rate(%) 9.00
	Major Tenant Wright Business Graphics of CA
	Leased ByArea(%) 44
	Weighted Lease Term byIncome(years) 8.5
	Available(%) 49
	Year 2010(%) 0
	Year 2011(%) 0
	Year 2012(%) 0
	Year 2013(%) 0
	Year 2014(%) 0
	Year 2015(%) 0
	Year 2016(%) 0
	Year 2017(%) 0
	Year 2018(%) 51
	Year 2019+(%) 0

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14489 Industry Circle, La Mirada, California

Adjacent to I-5 at the Los Angeles County/ Orange County in the city of La Mirada. Access to Interstate 5 at Valley View Avenue or Knott Avenue are within one mile of the building. Seven, concrete tilt-up, multi-tenant, warehouse buildings. Roof systems are built-up tar.

Details

Details
Metro Area			Los Angeles
BuildingType		Distribution Center
Ownership (%)			100
Zoning			Industrial
Year Built			1967
Site Area(acres)			5.2
Lettable Area(‘000sf)			113.0
Site Coverage(%)			50
Number of Buildings			1
Number of Units			2
Average Unit Size(‘000sf)			56.0
Office Content(%)			12
Car ParkingSpaces			118
Acquisition Date			Sep-2004
Acquisition Priceplus Additions(US$m)			6.25
Book Value(US$m)			6.5
Independent Valuation Date			Dec-2009
Independent Valuation(US$m)			6.5
Market CapRate(%)			8.50
Average Net PassingRent(US$/sf)			3.56
Average Net Market Rent(US$/sf)			4.56
Initial Yield(%)			5.46
Discount Rate(%)			8.75
Major Tenant	Damac		Products,Inc.
Leased ByArea(%)			100
Weighted Lease Term byIncome(years)			3.0
Available(%)			0
Year 2010(%)			0
Year 2011(%)			0
Year 2012(%)			0
Year 2013(%)			100
Year 2014(%)			0
Year 2015(%)			0
Year 2016(%)			0
Year 2017(%)			0
Year 2018(%)			0
Year 2019+(%)			0

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3550 Tyburn Street & 3332–3424 N.San Fernando Road, Los Angeles, California

Regional access is provided via I-5 at Glendale Boulevard or the Glendale (2) Freeway at San Fernando Road. The property is located between Glendale Boulevard and Fletcher Drive. Seven, concrete tilt-up, multi-tenant, warehouse buildings. Roof systems are built-up tar.

Details

Details
Metro Area		Los Angeles
BuildingType	Industrial Estate
Ownership (%)		100
Zoning		LA MZ-1
Year Built		1966
Site Area(acres)		20.7
Lettable Area(‘000sf)		451.0
Site Coverage(%)		50
Number of Buildings		8
Number of Units		28
Average Unit Size(‘000sf)		16.0
Office Content(%)		13
Car ParkingSpaces		598
Acquisition Date		Sep-2004
Acquisition Priceplus Additions(US$m)		43.51
Book Value(US$m)		49.1
Independent Valuation Date		Dec-2009
Independent Valuation(US$m)		49.1
Market CapRate(%)		8.00
Average Net PassingRent	(US$/sf)	9.86
Average Net Market Rent(US$/sf)		8.86
Initial Yield(%)		7.86
Discount Rate(%)		8.50
Major Tenant	A & A Amalgamated Printing
Leased ByArea(%)		90
Weighted Lease Term byIncome(years)		3.0
Available(%)		9
Year 2010(%)		17
Year 2011(%)		15
Year 2012(%)		20
Year 2013(%)		10
Year 2014(%)		7
Year 2015(%)		11
Year 2016(%)		0
Year 2017(%)		10
Year 2018(%)		0
Year 2019+(%)		0

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3590 De Forest Circle, Mira Loma, California

1450 E Francis Street, 4200 Santa Ana Street, 1951 S Parco Street, 1401 E Cedar Street, 1777 S Vintage Avenue, Ontario, California

The property is located northeast of the I-15 and 60 Freeway interchange off Etiwanda Avenue. Single, concrete tilt-up, multi-tenant, warehouse building. Roof system is built-up tar.

The properties are located at the northeast end of Ontario, and accessed via the San Bernardino (10), Pomona (60), and the Ontario (15) freeways. Five, concrete tilt-up, multi-tenant, warehouse/flex buildings. Roof systems are built-up tar.

Details

Details	Details
Metro Area Riverside BuildingType Distribution Center Ownership (%) 100 Zoning M2 - 1 Light Industrial Year Built 1992 Site Area(acres) 10.7 Lettable Area(‘000sf) 251.0 Site Coverage(%) 54 Number of Buildings 1 Number of Units 1 Average Unit Size(‘000sf) 251.0 Office Content(%) 2 Car ParkingSpaces 150 Acquisition Date Sep-2004 Acquisition Priceplus Additions(US$m) 9.02 Book Value(US$m) 10.5 Independent Valuation Date Dec-2009 Independent Valuation(US$m) 10.5 Market CapRate(%) 8.00 Average Net PassingRent(US$/sf) 5.27 Average Net Market Rent(US$/sf) 3.72 Initial Yield(%) 3.81 Discount Rate(%) 9.00 Major Tenant Domtar Paper Company Leased ByArea(%) 100 Weighted Lease Term byIncome(years) 5.4 Available(%) 0 Year 2010(%) 0 Year 2011(%) 0 Year 2012(%) 0 Year 2013(%) 0 Year 2014(%) 0 Year 2015(%) 100 Year 2016(%) 0 Year 2017(%) 0 Year 2018(%) 0 Year 2019+(%) 0	Metro Area Riverside
	BuildingType Industrial Estate
	Ownership (%) 100
	Zoning M2 - 1 Light Industrial
	Year Built 1989
	Site Area(acres) 37.5
	Lettable Area(‘000sf) 572.0
	Site Coverage(%) 35
	Number of Buildings 5
	Number of Units 13
	Average Unit Size(‘000sf) 44.0
	Office Content(%) 5
	Car ParkingSpaces 773
	Acquisition Date Sep-2004
	Acquisition Priceplus Additions(US$m) 24.58
	Book Value(US$m) 23.5
	Independent Valuation Date Dec-2009
	Independent Valuation(US$m) 23.5
	Market CapRate(%) 8.25
	Average Net PassingRent(US$/sf) 5.55
	Average Net Market Rent(US$/sf) 4.42
	Initial Yield(%) 6.22
	Discount Rate(%) 9.00
	Major Tenant Skechers USA,Inc.
	Leased ByArea(%) 82
	Weighted Lease Term byIncome(years) 1.5
	Available(%) 15
	Year 2010(%) 16
	Year 2011(%) 57
	Year 2012(%) 13
	Year 2013(%) 0
	Year 2014(%) 0
	Year 2015(%) 0
	Year 2016(%) 0
	Year 2017(%) 0
	Year 2018(%) 0
	Year 2019+(%) 0

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4190 Santa Ana Street, Ontario, California

3691 North Perris Boulevard, Perris, California

The property is located southwest of the I-10 and I-15 interchange just north of Jurupa Street. Single, concrete tilt-up, multi-tenant, warehouse/ flex building. Roof system is built-up tar.

The property is rectangular and makes up an entire block along Perris Boulevard, between Dawes Street and Morgan Street. Access to the site is possible from both Perris Boulevard at the front of the property and Redlands Avenue.

Details

Details	Details
Metro Area Riverside BuildingType Industrial Estate Ownership (%) 100 Zoning M2 - 1 Light Industrial Year Built 1989 Site Area(acres) 4.9 Lettable Area(‘000s f) 99.0 Site Coverage(%) 46 Number of Buildings 1 Number of Units 1 Average Unit Size(‘000sf) 99.0 Office Content(%) 10 Car ParkingSpaces 119 Acquisition Date Sep-2004 Acquisition Priceplus Additions(US$m) 4.10 Book Value(US$m) 5.0 Independent Valuation Date Dec-2009 Independent Valuation(US$m) 5.0 Market CapRate(%) 8.00 Average Net PassingRent(US$/sf) 5.65 Average Net Market Rent(US$/sf) 3.84 Initial Yield(%) 9.13 Discount Rate(%) 9.00 Major Tenant Halsteel,Inc. Leased ByArea(%) 100 Weighted Lease Term byIncome(years) 2.1 Available(%) 0 Year 2010(%) 0 Year 2011(%) 0 Year 2012(%) 100 Year 2013(%) 0 Year 2014(%) 0 Year 2015(%) 0 Year 2016(%) 0 Year 2017(%) 0 Year 2018(%) 0 Year 2019+(%) 0	Metro Area Riverside
	BuildingType Warehouse
	Ownership (%) 100
	Zoning Light Industrial(FTZ)
	Year Built 2007
	Site Area(acres) 80.0
	Lettable Area(‘000sf) 1,687.0
	Site Coverage(%) 48
	Number of Buildings 1
	Number of Units 1
	Average Unit Size(‘000sf) 1,687.0
	Office Content(%) 1
	Car ParkingSpaces 300
	Acquisition Date Jan-2008
	Acquisition Priceplus Additions(US$m) 109.41
	Book Value(US$m) 86.0
	Independent Valuation Date Dec-2009
	Independent Valuation(US$m) 86.0
	Market CapRate(%) 7.75
	Average Net PassingRent(US$/sf) 4.96
	Average Net Market Rent(US$/sf) 2.88
	Initial Yield(%) 10.14
	Discount Rate(%) 9.25
	Major Tenant Whirlpool Corporation
	Leased ByArea(%) 100
	Weighted Lease Term byIncome(years) 8.1
	Available(%) 0
	Year 2010(%) 0
	Year 2011(%) 0
	Year 2012(%) 0
	Year 2013(%) 0
	Year 2014(%) 0
	Year 2015(%) 0
	Year 2016(%) 0
	Year 2017(%) 0
	Year 2018(%) 100
	Year 2019+(%) 0

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12000 Jersey Court, Rancho Cucamonga, California

The property is located northwest of the I-10 and I-15 interchange off Rochester Avenue with I-15 visibility. Single, concrete tilt-up, single tenant, warehouse building. Roof system is built-up tar.

Details

Details
Metro Area			Riverside
BuildingType		Distribution Center
Ownership (%)			100
Zoning	M2	- 1	Light Industrial
Year Built			1989
Site Area(acres)			4.3
Lettable Area(‘000sf)			88.0
Site Coverage(%)			47
Number of Buildings			1
Number of Units			4
Average Unit Size(‘000sf)			22.0
Office Content(%)			2
Car ParkingSpaces			118
Acquisition Date			Sep-2004
Acquisition Priceplus Additions(US$m)			3.54
Book Value(US$m)			4.0
Independent Valuation Date			Dec-2009
Independent Valuation(US$m)			4.0
Market CapRate(%)			8.00
Average Net PassingRent	(US$/sf)		6.89
Average Net Market Rent(US$/sf)			5.40
Initial Yield(%)			7.95
Discount Rate(%)			9.00
Major Tenant	GarryMercer Trucking (USA)
Leased ByArea(%)			58
Weighted Lease Term byIncome(years)			1.8
Available(%)			36
Year 2010(%)			0
Year 2011(%)			45
Year 2012(%)			19
Year 2013(%)			0
Year 2014(%)			0
Year 2015(%)			0
Year 2016(%)			0
Year 2017(%)			0
Year 2018(%)			0
Year 2019+(%)			0

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11653 6th Street, 9545 Santa Anita Avenue, 9357 Richmond Place, & 9371 Buffalo Avenue, Rancho Cucamonga, California

Three of the buildings are located northwest of the I-10 and I-15 interchange. Santa Anita is located northeast of the I-10 and I-15 interchange. The properties are also easily accessed via the Pomona (60) Freeway. The buildings are concrete tilt-up, multi-tenant, warehouse/flex buildings. Roof systems are built-up tar.

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7510-7520 Airway Road, San Diego, California

The property is located in Otay Mesa off the 905 Freeway at the corner of Britannia Way and Airway Road. The 905 Freeway is located 12 miles east of the San Diego (5) Freeway. Single, concrete tilt-up, multi-tenant, warehouse/ flex building. Roof system is built-up tar.

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Summit Oaks, Vanderbilt Way, Santa Clarita, California

A five-story Class A suburban office building in Santa Clarita, California, with covered parking for 380 cars plus an additional 134 cars uncovered. The development was completed July 2008 and is fully leased to a single tenant.

Details

Metro Area Riverside BuildingType Industrial Estate Ownership (%) 100 Zoning M2 - 1 Light Industrial Year Built 1988 Site Area(acres) 23.3 Lettable Area(‘000sf) 430.0 Site Coverage(%) 42 Number of Buildings 4 Number of Units 14 Average Unit Size(‘000sf) 31.0 Office Content(%) 5 Car ParkingSpaces 763 Acquisition Date Sep-2004 Acquisition Priceplus Additions(US$m) 18.25 Book Value(US$m) 19.7 Independent Valuation Date Dec-2009 Independent Valuation(US$m) 19.7 Market CapRate(%) 8.25 Average Net PassingRent(US$/sf) 5.43 Average Net Market Rent(US$/sf) 4.94 Initial Yield(%) 7.47 Discount Rate(%) 9.00 Major Tenant Weber Distribution Warehouses Leased ByArea(%) 95 Weighted Lease Term byIncome(years) 1.0 Available(%) 4 Year 2010(%) 52 Year 2011(%) 25 Year 2012(%) 14 Year 2013(%) 0 Year 2014(%) 4 Year 2015(%) 0 Year 2016(%) 0 Year 2017(%) 0 Year 2018(%) 0 Year 2019+(%) 0	Metro Area San Diego BuildingType Industrial Estate Ownership (%) 100 Zoning M2 - 1 Light Industrial Year Built 1988 Site Area(acres) 11.6 Lettable Area(‘000sf) 121.0 Site Coverage(%) 24 Number of Buildings 2 Number of Units 5 Average Unit Size(‘000sf) 24.0 Office Content(%) 19 Car ParkingSpaces 309 Acquisition Date Sep-2004 Acquisition Priceplus Additions(US$m) 7.90 Book Value(US$m) 7.1 Independent Valuation Date Dec-2009 Independent Valuation(US$m) 7.1 Market CapRate(%) 8.75 Average Net PassingRent(US$/sf) 7.91 Average Net Market Rent(US$/sf) 5.78 Initial Yield(%) 10.25 Discount Rate(%) 10.00 Major Tenant Illinois Tool Works,Inc. Leased ByArea(%) 90 Weighted Lease Term byIncome(years) 2.5 Available(%) 8 Year 2010(%) 0 Year 2011(%) 0 Year 2012(%) 62 Year 2013(%) 31 Year 2014(%) 0 Year 2015(%) 0 Year 2016(%) 0 Year 2017(%) 0 Year 2018(%) 0 Year 2019+(%) 0	Metro Area Los Angeles
		BuildingType Office Park
		Ownership (%) 92
		Co-Owner Parker Properties
		Zoning BP Business Park
		Year Built 2008
		Site Area(acres) 4.9
		Lettable Area(‘000sf) 146.0
		Site Coverage(%) 69
		Number of Buildings 1
		Number of Units 1
		Average Unit Size(‘000sf) 146.0
		Office Content(%) 100
		Car ParkingSpaces 514
		Acquisition Date Dec-2006
		Acquisition Priceplus Additions(US$m) 42.28
		Book Value(US$m) 23.3
		Independent Valuation Date Jun-2009
		Independent Valuation(US$m) 17.4
		Market CapRate(%) -
		Average Net PassingRent(US$/sf) -
		Average Net Market Rent(US$/sf) -
		Initial Yield(%) -
		Discount Rate(%) -
		Major Tenant Advanced Bionics
		Leased ByArea(%) 100
		Weighted Lease Term byIncome(years) 10
		Available(%) 0
		Year 2010(%) 0
		Year 2011(%) 0
		Year 2012(%) 0
		Year 2013(%) 0
		Year 2014(%) 0
		Year 2015(%) 0
		Year 2016(%) 0
		Year 2017(%) 0
		Year 2018(%) 0
		Year 2019+(%) 100

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9210 San Fernando Road, Sun Valley, California

The property is located north of the intersection of the Golden State (5) Freeway and the Hollywood (170) Freeway on San Fernando Road at Sheldon Street. One, concrete tilt-up, multi-tenant, warehouse/flex building. Roof system is membrane/EPDM.

7500 Exchange Drive, Orlando, Florida

The property is located in Orlando Central Park in Southwest Orlando. Access is provided by I-4 to the west (2 miles), the Beeline Expressway to the south (2 miles) and Florida’s Turnpike to the east (1 mile). One, concrete tilt-up, multi-tenant, warehouse/flex building. Roof system is membrane/EPDM.

Orlando Central Park, 7600 Kingspointe Parkway, 8259 Exchange Drive, 7451-7488 Brokerage Drive, 29002901 Titan Row, Orlando, Florida

The properties are located in Orlando Central Park, Southwest Orlando and are accessible by I-4, the Beeline Expressway and Florida’s Turnpike. Seven, concrete tilt-up, multi-tenant, warehouse/flex buildings. Roof systems are multi-ply built-up asphalt.

Details

Details	Details	Details
Metro Area Los Angeles BuildingType Industrial Estate Ownership (%) 100 Zoning M1 - 1 Year Built 1980 Site Area(acres) 8.4 Lettable Area(‘000sf) 182.0 Site Coverage(%) 49 Number of Buildings 1 Number of Units 2 Average Unit Size(‘000sf) 91.0 Office Content(%) 2 Car ParkingSpaces 322 Acquisition Date Sep-2004 Acquisition Priceplus Additions(US$m) 12.31 Book Value(US$m) 18.2 Independent Valuation Date Dec-2009 Independent Valuation(US$m) 18.2 Market CapRate(%) 7.50 Average Net PassingRent(US$/sf) 7.89 Average Net Market Rent(US$/sf) 7.89 Initial Yield(%) 7.80 Discount Rate(%) 9.00 Major Tenant Fedex Ground Package System Leased ByArea(%) 100 Weighted Lease Term byIncome(years) 4.1 Available(%) 0 Year 2010(%) 0 Year 2011(%) 0 Year 2012(%) 0 Year 2013(%) 16 Year 2014(%) 84 Year 2015(%) 0 Year 2016(%) 0 Year 2017(%) 0 Year 2018(%) 0 Year 2019+(%) 0	Metro Area Orlando BuildingType Industrial Estate Ownership (%) 100 Zoning I-3 byOrange CountyPlanningand Zoning Year Built 1979 Site Area(acres) 5.2 Lettable Area(‘000sf) 116.0 Site Coverage(%) 51 Number of Buildings 1 Number of Units 6 Average Unit Size(‘000sf) 19.0 Office Content(%) 8 Car ParkingSpaces 97 Acquisition Date Sep-2004 Acquisition Priceplus Additions(US$m) 4.76 Book Value(US$m) 4.7 Independent Valuation Date Jun-2009 Independent Valuation(US$m) 4.80 Market CapRate(%) 8.84 Average Net PassingRent(US$/sf) 3.79 Average Net Market Rent(US$/sf) 4.50 Initial Yield(%) 8.44 Discount Rate(%) 9.50 Major Tenant Keystone Automotive Operations Leased ByArea(%) 100 Weighted Lease Term byIncome(years) 1.1 Available(%) 0 Year 2010(%) 57 Year 2011(%) 22 Year 2012(%) 21 Year 2013(%) 0 Year 2014(%) 0 Year 2015(%) 0 Year 2016(%) 0 Year 2017(%) 0 Year 2018(%) 0 Year 2019+(%) 0	Metro Area Orlando
		BuildingType Industrial Estate
		Ownership (%) 100
		Zoning I-3 byOrange CountyPlanningand Zoning
		Year Built 1984
		Site Area(acres) 60.1
		Lettable Area(‘000sf) 1,275.0
		Site Coverage(%) 49
		Number of Buildings 7
		Number of Units 24
		Average Unit Size(‘000sf) 53.0
		Office Content(%) 9
		Car ParkingSpaces 1,229
		Acquisition Date Sep-2004
		Acquisition Priceplus Additions(US$m) 51.79
		Book Value(US$m) 54.0
		Independent Valuation Date Dec-2009
		Independent Valuation(US$m) 54.0
		Market CapRate(%) 8.25
		Average Net PassingRent(US$/sf) 3.69
		Average Net Market Rent(US$/sf) 4.17
		Initial Yield(%) 7.24
		Discount Rate(%) 9.50
		Major Tenant Universal CityDevelopment Partners
		Leased ByArea(%) 94
		Weighted Lease Term byIncome(years) 2.7
		Available(%) 7
		Year 2010(%) 21
		Year 2011(%) 6
		Year 2012(%) 38
		Year 2013(%) 12
		Year 2014(%) 2
		Year 2015(%) 0
		Year 2016(%) 13
		Year 2017(%) 0
		Year 2018(%) 0
		Year 2019+(%) 0

DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010 21

US PortfolIo contInUED

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13201 South Orange Avenue, Orlando, Florida

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1000-1200 Williams Street NW, Atlanta, Georgia

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300 Townpark Drive, Kennesaw, Georgia

A one-story building with tilt-up concrete panel wall and steel columns. The slab is 6” reinforced concrete which can handle 4,000 PSI. The roof is a steel bar joist and metal decking structure with a three ply roof system with modified bitumen cap. The building has a 32’ clear height, two drive-in doors, 44 dock-high doors and 250 trailer parking stalls.

Northwest submarket, along I-75 and I-575. Nearby to Canton Road (Hwy Spur 5) at the intersection of Williams Drive and Guffen. Three, one-story brick and steel, single/ multi-tenant warehouse buildings. Roof systems are modified bitumen and roof membrane.

Northwest submarket, proximate to both I-75 and I-575 via Chastain Road. Two, one-story concrete tilt-up, multi-tenant, flex buildings. Roof system is membrane/EPDM.

Details

Metro Area Orlando BuildingType Distribution Center Ownership (%) 100 Zoning S-2 Low Hazard Storage Year Built 2007 Site Area(acres) 28.6 Lettable Area(‘000sf) 503.0 Site Coverage(%) 40 Number of Buildings 1 Number of Units 1 Average Unit Size(‘000sf) 503.0 Office Content(%) 8 Car ParkingSpaces 150 Acquisition Date Jun-2007 Acquisition Priceplus Additions(US$m) 19.18 Book Value(US$m) 23.5 Independent Valuation Date Dec-2009 Independent Valuation(US$m) 23.5 Market CapRate(%) 8.00 Average Net PassingRent(US$/sf) 3.62 Average Net Market Rent(US$/sf) 3.75 Initial Yield(%) 7.99 Discount Rate(%) 9.25 Major Tenant Whirlpool Corporation Leased ByArea(%) 100 Weighted Lease Term byIncome(years) 7.5 Available(%) 0 Year 2010(%) 0 Year 2011(%) 0 Year 2012(%) 0 Year 2013(%) 0 Year 2014(%) 0 Year 2015(%) 0 Year 2016(%) 0 Year 2017(%) 100 Year 2018(%) 0 Year 2019+(%) 0	Metro Area Atlanta BuildingType Distribution Center Ownership (%) 100 Zoning LI Year Built 1987 Site Area(acres) 14.2 Lettable Area(‘000sf) 208.0 Site Coverage(%) 34 Number of Buildings 3 Number of Units 14 Average Unit Size(‘000sf) 15.0 Office Content(%) 15 Car ParkingSpaces 496 Acquisition Date Sep-2004 Acquisition Priceplus Additions(US$m) 8.59 Book Value(US$m) 7.1 Independent Valuation Date Jun-2009 Independent Valuation(US$m) 7.2 Market CapRate(%) 11.61 Average Net PassingRent(US$/sf) 3.24 Average Net Market Rent(US$/sf) 4.68 Initial Yield(%) 4.46 Discount Rate(%) 11.00 Major Tenant Sunbelt Plastics Corporation Leased ByArea(%) 49 Weighted Lease Term byIncome(years) 4.2 Available(%) 60 Year 2010(%) 0 Year 2011(%) 11 Year 2012(%) 0 Year 2013(%) 9 Year 2014(%) 0 Year 2015(%) 13 Year 2016(%) 0 Year 2017(%) 6 Year 2018(%) 0 Year 2019+(%) 0	Metro Area Atlanta
		BuildingType Business Park
		Ownership (%) 100
		Zoning OS
		Year Built 1995
		Site Area(acres) 10.0
		Lettable Area(‘000sf) 121.0
		Site Coverage(%) 28
		Number of Buildings 2
		Number of Units 8
		Average Unit Size(‘000sf) 15.0
		Office Content(%) 24
		Car ParkingSpaces 206
		Acquisition Date Sep-2004
		Acquisition Priceplus Additions(US$m) 5.57
		Book Value(US$m) 5.5
		Independent Valuation Date Jun-2009
		Independent Valuation(US$m) 6.7
		Market CapRate(%) 9.74
		Average Net PassingRent(US$/sf) 6.17
		Average Net Market Rent(US$/sf) 6.14
		Initial Yield(%) 8.02
		Discount Rate(%) 9.50
		Major Tenant Healthtronics,Inc.
		Leased ByArea(%) 84
		Weighted Lease Term byIncome(years) 1.4
		Available(%) 16
		Year 2010(%) 43
		Year 2011(%) 24
		Year 2012(%) 14
		Year 2013(%) 3
		Year 2014(%) 0
		Year 2015(%) 0
		Year 2016(%) 0
		Year 2017(%) 0
		Year 2018(%) 0
		Year 2019+(%) 0

22 DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010

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195 King Mill Road, McDonough, Georgia

1825 Airport Exchange Boulevard, Erlanger, Kentucky

The facility consists of two equally sized buildings joined by three connectors. The buildings are constructed with a structural steel frame and precast concrete. The building has a 32’ clear height, six drive-in doors, 310 dock-high doors and 697 trailer parking stalls. The facility is served by a railroad spur that is connected to the Norfolk Southern line.

The property is located north of the I-275, Mineola Pike exit. One-story concrete tilt-up, multi-tenant, flex building. Roof system is membrane/EPDM.

Details

Details	Details
Metro Area Atlanta BuildingType Distribution Center Ownership (%) 100 Zoning M2 Industrial Year Built 2009 Site Area(acres) 91.0 Lettable Area(‘000sf) 1500.0 Site Coverage(%) 38 Number of Buildings 1 Number of Units 1 Average Unit Size(‘000sf) 1500.0 Office Content(%) 1 Car ParkingSpaces 184 Acquisition Date Nov-2009 Acquisition Priceplus Additions(US$m) 64.82 Book Value(US$m) 63 Independent Valuation Date - Independent Valuation(US$m) - Market CapRate(%) 7.26 Average Net PassingRent(US$/sf) 3.09 Average Net Market Rent(US$/sf) 3.15 Initial Yield(%) 7.26 Discount Rate(%) 8.50 Major Tenant Whirlpool Corporation Leased ByArea(%) 100 Weighted Lease Term byIncome(years) 9.9 Available(%) 0 Year 2010(%) 0 Year 2011(%) 0 Year 2012(%) 0 Year 2013(%) 3 Year 2014(%) 0 Year 2015(%) 0 Year 2016(%) 0 Year 2017(%) 0 Year 2018(%) 0 Year 2019+(%) 100	Metro Area Cincinnati
	BuildingType Distribution Center
	Ownership (%) 100
	Zoning I-1
	Year Built 1997
	Site Area(acres) 5.7
	Lettable Area(‘000sf) 68.0
	Site Coverage(%) 27
	Number of Buildings 1
	Number of Units 5
	Average Unit Size(‘000sf) 14.0
	Office Content(%) 21
	Car ParkingSpaces 134
	Acquisition Date Sep-2004
	Acquisition Priceplus Additions(US$m) 3.74
	Book Value(US$m) 2.6
	Independent Valuation Date Dec-2009
	Independent Valuation(US$m) 2.6
	Market CapRate(%) 10.00
	Average Net PassingRent(US$/sf) 6.54
	Average Net Market Rent(US$/sf) 4.74
	Initial Yield(%) 7.36
	Discount Rate(%) 10.50
	Major Tenant Kuehne + Nagel Inc.
	Leased ByArea(%) 51
	Weighted Lease Term byIncome(years) 2.3
	Available(%) 41
	Year 2010(%) 0
	Year 2011(%) 18
	Year 2012(%) 42
	Year 2013(%) 0
	Year 2014(%) 0
	Year 2015(%) 0
	Year 2016(%) 0
	Year 2017(%) 0
	Year 2018(%) 0
	Year 2019+(%) 0

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3368-3372 Turfway Road, Erlanger, Kentucky

The property is located at the I-71/I-275 interchange. Three, one-story masonry and metal, multi-tenant, warehouse/flex buildings. Roof systems are membrane/EPDM.

Details

Details
Metro Area		Cincinnati
BuildingType	Industrial Estate
Ownership (%)		100
Zoning		I-1
Year Built		1990
Site Area(acres)		12.0
Lettable Area(‘000sf)		112.0
Site Coverage(%)		21
Number of Buildings		3
Number of Units		9
Average Unit Size(‘000sf)		12.0
Office Content(%)		17
Car ParkingSpaces		118
Acquisition Date		Sep-2004
Acquisition Priceplus Additions(US$m)		4.57
Book Value(US$m)		3.7
Independent Valuation Date		Jun-2009
Independent Valuation(US$m)		4.0
Market CapRate(%)		9.96
Average Net PassingRent(US$/sf)		4.80
Average Net Market Rent(US$/sf)		3.91
Initial Yield(%)		6.83
Discount Rate(%)		10.25
Major Tenant	Cintas	Corporation
Leased ByArea(%)		61
Weighted Lease Term byIncome(years)		1.6
Available(%)		34
Year 2010(%)		36
Year 2011(%)		12
Year 2012(%)		0
Year 2013(%)		18
Year 2014(%)		0
Year 2015(%)		0
Year 2016(%)		0
Year 2017(%)		0
Year 2018(%)		0
Year 2019+(%)		0

DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010 23

US PortfolIo contInUED

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7453 Empire Drive, Florence, Kentucky

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7930 & 7940 Kentucky Drive, Florence, Kentucky

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5-11 Spiral Drive, Florence, Kentucky

Proximate to I-71/I-75 and Dixie Highway just southwest of the Dixie Highway and Industrial Road intersection. Three, one-story masonry, single/multi-tenant, warehouse buildings. Roof systems are membrane/EPDM.

The property is located just east of I-71/I-75, proximate to Dixie Highway and Industrial Road intersection. Two, one-story concrete tilt-up and masonry and metal, single/multi-tenant, warehouse/flex buildings. Roof systems are membrane/EPDM and metal.

The property is located just north of the I-71/Houston Road exit. Two, one-story brick on block, single/multi-tenant, flex buildings. Roof systems are built-up tar.

Details

Metro Area Cincinnati BuildingType Distribution Center Ownership (%) 100 Zoning I-2 Year Built 1991 Site Area(acres) 22.4 Lettable Area(‘000sf) 197.0 Site Coverage(%) 20 Number of Buildings 3 Number of Units 8 Average Unit Size(‘000sf) 25.0 Office Content(%) 12 Car ParkingSpaces 258 Acquisition Date Sep-2004 Acquisition Priceplus Additions(US$m) 5.36 Book Value(US$m) 5.1 Independent Valuation Date Dec-2009 Independent Valuation(US$m) 5.1 Market CapRate(%) 9.75 Average Net PassingRent(US$/sf) 2.97 Average Net Market Rent(US$/sf) 3.16 Initial Yield(%) 4.23 Discount Rate(%) 10.50 Major Tenant Bluegrass Products LLC Leased ByArea(%) 93 Weighted Lease Term byIncome(years) 0.6 Available(%) 8 Year 2010(%) 63 Year 2011(%) 20 Year 2012(%) 9 Year 2013(%) 0 Year 2014(%) 0 Year 2015(%) 0 Year 2016(%) 0 Year 2017(%) 0 Year 2018(%) 0 Year 2019+(%) 0	Metro Area Cincinnati BuildingType Industrial Estate Ownership (%) 100 Zoning I-2 Year Built 1991 Site Area(acres) 27.7 Lettable Area(‘000sf) 347.0 Site Coverage(%) 29 Number of Buildings 2 Number of Units 3 Average Unit Size(‘000sf) 116.0 Office Content(%) 17 Car ParkingSpaces 371 Acquisition Date Sep-2004 Acquisition Priceplus Additions(US$m) 9.54 Book Value(US$m) 13.0 Independent Valuation Date Dec-2009 Independent Valuation(US$m) 13.0 Market CapRate(%) 9.25 Average Net PassingRent(US$/sf) 5.08 Average Net Market Rent(US$/sf) 3.03 Initial Yield(%) 9.36 Discount Rate(%) 10.25 Major Tenant General Services Admin Leased ByArea(%) 100 Weighted Lease Term byIncome(years) 7.4 Available(%) 0 Year 2010(%) 0 Year 2011(%) 8 Year 2012(%) 0 Year 2013(%) 0 Year 2014(%) 0 Year 2015(%) 0 Year 2016(%) 26 Year 2017(%) 0 Year 2018(%) 66 Year 2019+(%) 0	Metro Area Cincinnati
		BuildingType Business Park
		Ownership (%) 100
		Zoning I-1
		Year Built 1988
		Site Area(acres) 6.0
		Lettable Area(‘000sf) 62.0
		Site Coverage(%) 24
		Number of Buildings 2
		Number of Units 12
		Average Unit Size(‘000sf) 5.0
		Office Content(%) 74
		Car ParkingSpaces 254
		Acquisition Date Sep-2004
		Acquisition Priceplus Additions(US$m) 5.15
		Book Value(US$m) 4.0
		Independent Valuation Date Dec-2009
		Independent Valuation(US$m) 4.0
		Market CapRate(%) 9.75
		Average Net PassingRent(US$/sf) 10.43
		Average Net Market Rent(US$/sf) 7.50
		Initial Yield(%) 8.66
		Discount Rate(%) 10.25
		Major Tenant Internal Revenue Service
		Leased ByArea(%) 84
		Weighted Lease Term byIncome(years) 4.3
		Available(%) 12
		Year 2010(%) 13
		Year 2011(%) 3
		Year 2012(%) 12
		Year 2013(%) 5
		Year 2014(%) 0
		Year 2015(%) 37
		Year 2016(%) 0
		Year 2017(%) 19
		Year 2018(%) 0
		Year 2019+(%) 0

24 DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010

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1910 International Way, Hebron, Kentucky

Fort Holabird Industrial, 1811 & 1831 Portal Street, & 6615 Tributary Street, Baltimore, Maryland

Located at the intersection of I-275 and North Bend Road at South Park. One-story concrete tilt-up, single tenant, warehouse building. Roof system is membrane/EPDM.

The buildings are located within one mile of the Interstate 95, Interstate 895 and the Port of Baltimore. Three, one-story brick and block composite flex buildings.

Details

Details	Details
Metro Area Cincinnati BuildingType Industrial Estate Ownership (%) 100 Zoning I-1 Year Built 1990 Site Area(acres) 10.4 Lettable Area(‘000sf) 300.0 Site Coverage(%) 66 Number of Buildings 1 Number of Units 1 Average Unit Size(‘000sf) 300.0 Office Content(%) 1 Car ParkingSpaces 134 Acquisition Date Sep-2004 Acquisition Priceplus Additions(US$m) 8.80 Book Value(US$m) 8.8 Independent Valuation Date Jun-2009 Independent Valuation(US$m) 10.2 Market CapRate(%) 9.93 Average Net PassingRent(US$/sf) 3.10 Average Net Market Rent(US$/sf) 2.95 Initial Yield(%) 9.93 Discount Rate(%) 9.00 Major Tenant Qualis Automotive Leased ByArea(%) 100 Weighted Lease Term byIncome(years) 4.8 Available(%) 0 Year 2010(%) 0 Year 2011(%) 0 Year 2012(%) 0 Year 2013(%) 0 Year 2014(%) 100 Year 2015(%) 0 Year 2016(%) 0 Year 2017(%) 0 Year 2018(%) 0 Year 2019+(%) 0	Metro Area Baltimore
	BuildingType Distribution Center
	Ownership (%) 100
	Zoning M2 - 1 Industrial
	Year Built 1987
	Site Area(acres) 10.8
	Lettable Area(‘000sf) 172.0
	Site Coverage(%) 37
	Number of Buildings 3
	Number of Units 17
	Average Unit Size(‘000sf) 10.0
	Office Content(%) 23
	Car ParkingSpaces 227
	Acquisition Date Jun-2005
	Acquisition Priceplus Additions(US$m) 9.04
	Book Value(US$m) 9.2
	Independent Valuation Date Dec-2009
	Independent Valuation(US$m) 9.2
	Market CapRate(%) 8.75
	Average Net PassingRent(US$/sf) 5.98
	Average Net Market Rent(US$/sf) 5.43
	Initial Yield(%) 8.26
	Discount Rate(%) 10.25
	Major Tenant Fedex Ground Package System
	Leased ByArea(%) 100
	Weighted Lease Term byIncome(years) 2.6
	Available(%) 0
	Year 2010(%) 38
	Year 2011(%) 0
	Year 2012(%) 28
	Year 2013(%) 16
	Year 2014(%) 13
	Year 2015(%) 0
	Year 2016(%) 0
	Year 2017(%) 0
	Year 2018(%) 5
	Year 2019+(%) 0

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9112 Guilford Road, Columbia, Maryland

Located off Route 32, just east of I-95. One-story masonry, single tenant, flex building. Roof system is membrane/EPDM.

Details

Details
Metro Area		Baltimore
BuildingType		Business Park
Ownership (%)		100
Zoning		NT
Year Built		1999
Site Area(acres)		4.8
Lettable Area(‘000sf)		55.0
Site Coverage(%)		27
Number of Buildings		1
Number of Units		1
Average Unit Size(‘000sf)		55.0
Office Content(%)		100
Car ParkingSpaces		161
Acquisition Date		Sep-2004
Acquisition Priceplus Additions(US$m)		6.90
Book Value(US$m)		7.2
Independent Valuation Date		Jun-2009
Independent Valuation(US$m)		8.0
Market CapRate(%)		9.28
Average Net Passing	Rent(US$/sf)	12.18
Average Net Market Rent(US$/sf)		11.25
Initial Yield(%)		9.07
Discount Rate(%)		8.50
Major Tenant	SandySpringNational Bank of MD
Leased ByArea(%)		100
Weighted Lease Term byIncome(years)		5.1
Available(%)		0
Year 2010(%)		0
Year 2011(%)		0
Year 2012(%)		0
Year 2013(%)		0
Year 2014(%)		0
Year 2015(%)		100
Year 2016(%)		0
Year 2017(%)		0
Year 2018(%)		0
Year 2019+(%)		0

DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010 25

US PortfolIo

contInUED

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8350 & 8351 Bristol Court, Jessup, Maryland

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MD Wholesale Food Market, 7951 Ocean Avenue & 7970 Tarbay Drive, Jessup, Maryland

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8306 Patuxent Range Road & 8332 Bristol Court, Jessup, Maryland

Located in the Balt/Wash Industrial Park (BWIP), which is just off US Route 1 between Route 175 and Route 32. Two, one-story concrete tilt-up, multi-tenant, warehouse buildings. Roof systems are membrane/EPDM.

The buildings are located in the MD Wholesale Food Market which is just off US Route 1 at Route 175. Two, one-story masonry and metal, multi-tenant, warehouse buildings. Roof systems are metal.

Located in the Balt/Wash Industrial Park (BWIP), which is just off of US Route 1 between Route 175 and Route 32. One-story concrete tilt-up, multi-tenant, warehouse buildings. Roof system is membrane/EPDM.

Details

Metro Area Baltimore BuildingType Distribution Center Ownership (%) 100 Zoning M2 - ManufacturingHeavy Year Built 1986 Site Area(acres) 10.6 Lettable Area(‘000sf) 133.0 Site Coverage(%) 29 Number of Buildings 2 Number of Units 17 Average Unit Size(‘000sf) 8.0 Office Content(%) 14 Car ParkingSpaces 115 Acquisition Date Sep-2004 Acquisition Priceplus Additions(US$m) 9.21 Book Value(US$m) 9.0 Independent Valuation Date Jun-2009 Independent Valuation(US$m) 10.4 Market CapRate(%) 9.95 Average Net PassingRent(US$/sf) 7.21 Average Net Market Rent(US$/sf) 6.39 Initial Yield(%) 8.86 Discount Rate(%) 9.00 Major Tenant Projection Video Services,Inc Leased ByArea(%) 94 Weighted Lease Term byIncome(years) 1.9 Available(%) 5 Year 2010(%) 41 Year 2011(%) 0 Year 2012(%) 24 Year 2013(%) 30 Year 2014(%) 0 Year 2015(%) 0 Year 2016(%) 0 Year 2017(%) 0 Year 2018(%) 0 Year 2019+(%) 0	Metro Area Baltimore BuildingType Distribution Center Ownership (%) 100 Zoning M-1 Year Built 1987 Site Area(acres) 19.7 Lettable Area(‘000sf) 454.0 Site Coverage(%) 53 Number of Buildings 2 Number of Units 4 Average Unit Size(‘000sf) 113.0 Office Content(%) 1 Car ParkingSpaces 107 Acquisition Date Sep-2004 Acquisition Priceplus Additions(US$m) 16.69 Book Value(US$m) 16.0 Independent Valuation Date Dec-2009 Independent Valuation(US$m) 16.0 Market CapRate(%) 9.00 Average Net PassingRent(US$/sf) 4.46 Average Net Market Rent(US$/sf) 4.00 Initial Yield(%) 6.62 Discount Rate(%) 10.25 Major Tenant B&E Storage Leased ByArea(%) 88 Weighted Lease Term byIncome(years) 2.9 Available(%) 11 Year 2010(%) 42 Year 2011(%) 0 Year 2012(%) 0 Year 2013(%) 0 Year 2014(%) 0 Year 2015(%) 47 Year 2016(%) 0 Year 2017(%) 0 Year 2018(%) 0 Year 2019+(%) 0	Metro Area Baltimore
		BuildingType Business Park
		Ownership (%) 100
		Zoning M2 - ManufacturingHeavy
		Year Built 1985
		Site Area(acres) 9.1
		Lettable Area(‘000sf) 152.0
		Site Coverage(%) 38
		Number of Buildings 2
		Number of Units 15
		Average Unit Size(‘000sf) 10.0
		Office Content(%) 22
		Car ParkingSpaces 134
		Acquisition Date Sep-2004
		Acquisition Priceplus Additions(US$m) 10.12
		Book Value(US$m) 8.3
		Independent Valuation Date Jun-2009
		Independent Valuation(US$m) 11.4
		Market CapRate(%) 9.72
		Average Net PassingRent(US$/sf) 6.68
		Average Net Market Rent(US$/sf) 6.19
		Initial Yield(%) 6.40
		Discount Rate(%) 10.00
		Major Tenant National Coatings,Inc.
		Leased ByArea(%) 73
		Weighted Lease Term byIncome(years) 0.7
		Available(%) 25
		Year 2010(%) 54
		Year 2011(%) 10
		Year 2012(%) 10
		Year 2013(%) 0
		Year 2014(%) 0
		Year 2015(%) 0
		Year 2016(%) 0
		Year 2017(%) 0
		Year 2018(%) 0
		Year 2019+(%) 0

26 DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010

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8155 Stayton Drive, Jessup, Maryland

1015 & 1025 West Nursery Road, Linthicum Heights, Maryland

Located just east of the intersection of I-295 (Balt/Wash Expressway) and I-695 (Balt Beltway) interchange. Two, one-story masonry and metal, multi-tenant, warehouse/flex buildings. Roof systems are metal.

Located in the Balt/Wash Industrial Park (BWIP) which is just off Route 1 between Route 175 and Route 32. One-story masonry, multi-tenant, warehouse/flex building. Roof system is built-up tar.

Details

Details	Details
Metro Area Baltimore BuildingType Industrial Estate Ownership (%) 100 Zoning M2 - ManufacturingHeavy Year Built 1985 Site Area(acres) 8.9 Lettable Area(‘000sf) 126.0 Site Coverage(%) 32 Number of Buildings 1 Number of Units 4 Average Unit Size(‘000sf) 31.0 Office Content(%) 6 Car ParkingSpaces 90 Acquisition Date Sep-2004 Acquisition Priceplus Additions(US$m) 5.91 Book Value(US$m) 6.6 Independent Valuation Date Jun-2009 Independent Valuation(US$m) 7.8 Market CapRate(%) 6.67 Average Net PassingRent(US$/sf) 5.07 Average Net Market Rent(US$/sf) 4.87 Initial Yield(%) 9.05 Discount Rate(%) 9.00 Major Tenant Builder Resource Supply Leased ByArea(%) 100 Weighted Lease Term byIncome(years) 3.0 Available(%) 0 Year 2010(%) 0 Year 2011(%) 71 Year 2012(%) 0 Year 2013(%) 0 Year 2014(%) 0 Year 2015(%) 0 Year 2016(%) 29 Year 2017(%) 0 Year 2018(%) 0 Year 2019+(%) 0	Metro Area Baltimore
	BuildingType Industrial Estate
	Ownership (%) 100
	Zoning W1 - Industrial Park District
	Year Built 1990
	Site Area(acres) 7.8
	Lettable Area(‘000sf) 88.0
	Site Coverage(%) 26
	Number of Buildings 2
	Number of Units 5
	Average Unit Size(‘000sf) 18.0
	Office Content(%) 46
	Car ParkingSpaces 210
	Acquisition Date Sep-2004
	Acquisition Priceplus Additions(US$m) 6.74
	Book Value(US$m) 5.0
	Independent Valuation Date Jun-2009
	Independent Valuation(US$m) 7.3
	Market CapRate(%) 9.84
	Average Net PassingRent(US$/sf) 7.35
	Average Net Market Rent(US$/sf) 6.44
	Initial Yield(%) 4.36
	Discount Rate(%) 10.25
	Major Tenant DHL Express(USA),Inc.
	Leased ByArea(%) 99
	Weighted Lease Term byIncome(years) 1.9
	Available(%) 1
	Year 2010(%) 13
	Year 2011(%) 51
	Year 2012(%) 14
	Year 2013(%) 0
	Year 2014(%) 21
	Year 2015(%) 0
	Year 2016(%) 0
	Year 2017(%) 0
	Year 2018(%) 0
	Year 2019+(%) 0

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Cabot Techs, 989-991 Corporate Boulevard, Linthicum Heights, Maryland

Located just northeast of the intersection of I-295 (Balt/Wash Expressway) and I-95. One-story masonry, multi-tenant, flex buildings. Roof systems are membrane/EPDM.

Details

Details
Metro Area		Baltimore
BuildingType		Business Park
Ownership (%)		100
Zoning	W1 - Industrial Park District
Year Built		1999
Site Area(acres)		10.5
Lettable Area(‘000sf)		131.0
Site Coverage(%)		29
Number of Buildings		2
Number of Units		6
Average Unit Size(‘000sf)		22.0
Office Content(%)		81
Car ParkingSpaces		660
Acquisition Date		Sep-2004
Acquisition Priceplus Additions(US$m)		17.67
Book Value(US$m)		18.3
Independent Valuation Date		Dec-2009
Independent Valuation(US$m)		18.3
Market CapRate(%)		9.00
Average Net PassingRent(US$/sf)		15.88
Average Net Market Rent(US$/sf)		14.54
Initial Yield(%)		8.21
Discount Rate(%)		10.00
Major Tenant Erickson Retirement Communities
Leased ByArea(%)		96
Weighted Lease Term byIncome(years)		1.4
Available(%)		4
Year 2010(%)		61
Year 2011(%)		0
Year 2012(%)		15
Year 2013(%)		21
Year 2014(%)		0
Year 2015(%)		0
Year 2016(%)		0
Year 2017(%)		0
Year 2018(%)		0
Year 2019+(%)		0

DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010 27

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NE Baltimore, 21 & 23 Fontana Lane, Rosedale, Maryland

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Braemar Ridge, 7500 West 78th Street, Bloomington, Minnesota

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Brooklyn Park Interstate Center, 7700 68th Avenue, Brooklyn Park, Minnesota

The buildings are located just off Route 7, one-half mile north of I-695 (Baltimore Beltway). Two, one-story masonry, multi-tenant, warehouse/flex buildings. Roof systems are membrane/EPDM.

The property is located on the north side of Interstate 494 frontage road between Highway 169 and Highway 100. One-story concrete block construction with steel columns and brick veneer and decorative metal canopies, multi-tenant, flex building. Roof system is 3-ply built-up asphalt, bituminous membrane over rigid insulation.

The property is located on Interstate 694 with access from the intersection of Interstate 694 and County Road 81. One-story concrete block with steel frame construction, multi-tenant, warehouse building. Roof system is 3-ply built-up asphalt, bituminous membrane over rigid insulation.

Details

Metro Area Baltimore BuildingType Industrial Estate Ownership (%) 100 Zoning ML-IM Year Built 1988 Site Area(acres) 7.0 Lettable Area(‘000sf) 109.0 Site Coverage(%) 36 Number of Buildings 2 Number of Units 14 Average Unit Size(‘000sf) 8.0 Office Content(%) 33 Car ParkingSpaces 236 Acquisition Date Sep-2004 Acquisition Priceplus Additions(US$m) 6.33 Book Value(US$m) 6.4 Independent Valuation Date Jun-2009 Independent Valuation(US$m) 7.2 Market CapRate(%) 9.46 Average Net PassingRent(US$/sf) 6.69 Average Net Market Rent(US$/sf) 6.00 Initial Yield(%) 8.87 Discount Rate(%) 9.50 Major Tenant Goodman Distribution,Inc. Leased ByArea(%) 100 Weighted Lease Term byIncome(years) 1.9 Available(%) 0 Year 2010(%) 42 Year 2011(%) 33 Year 2012(%) 4 Year 2013(%) 11 Year 2014(%) 0 Year 2015(%) 0 Year 2016(%) 0 Year 2017(%) 10 Year 2018(%) 0 Year 2019+(%) 0	Metro Area Minneapolis BuildingType Business Park Ownership (%) 100 Zoning FD-2, Freeway Development and FD-2 (FH), FreewayDevelopment Flood Hazard Year Built 1983 Site Area(acres) 6.1 Lettable Area(‘000sf) 74.0 Site Coverage(%) 28 Number of Buildings 1 Number of Units 12 Average Unit Size(‘000sf) 6.0 Office Content(%) 48 Car ParkingSpaces 208 Acquisition Date Nov-2005 Acquisition Priceplus Additions(US$m) 4.48 Book Value(US$m) 3.6 Independent Valuation Date Jun-2009 Independent Valuation(US$m) 4.3 Market CapRate(%) 10.45 Average Net PassingRent(US$/sf) 7.08 Average Net Market Rent(US$/sf) 6.50 Initial Yield(%) 5.86 Discount Rate(%) 10.00 Major Tenant SterlingCritical Products Leased ByArea(%) 54 Weighted Lease Term byIncome(years) 2.7 Available(%) 43 Year 2010(%) 4 Year 2011(%) 21 Year 2012(%) 14 Year 2013(%) 0 Year 2014(%) 18 Year 2015(%) 0 Year 2016(%) 0 Year 2017(%) 0 Year 2018(%) 0 Year 2019+(%) 0	Metro Area Minneapolis
		BuildingType Distribution Center
		Ownership (%) 100
		Zoning I-1,Limited Industrial District
		Year Built 1997
		Site Area(acres) 6.0
		Lettable Area(‘000sf) 92.0
		Site Coverage(%) 35
		Number of Buildings 1
		Number of Units 4
		Average Unit Size(‘000sf) 23.0
		Office Content(%) 7
		Car ParkingSpaces 146
		Acquisition Date Nov-2005
		Acquisition Priceplus Additions(US$m) 4.79
		Book Value(US$m) 2.6
		Independent Valuation Date Jun-2009
		Independent Valuation(US$m) 2.9
		Market CapRate(%) 11.63
		Average Net PassingRent(US$/sf) 2.97
		Average Net Market Rent(US$/sf) 4.50
		Initial Yield(%) -2.25
		Discount Rate(%) 11.50
		Major Tenant JL Rosewood Corporation
		Leased ByArea(%) 44
		Weighted Lease Term byIncome(years) 0.0
		Available(%) 66
		Year 2010(%) 34
		Year 2011(%) 0
		Year 2012(%) 0
		Year 2013(%) 0
		Year 2014(%) 0
		Year 2015(%) 0
		Year 2016(%) 0
		Year 2017(%) 0
		Year 2018(%) 0
		Year 2019+(%) 19

28 DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010

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Eagandale Business Campus, 1285 & 1301 Corporate Center Drive, 1230 & 1270 Eagan Industrial Road, Eagan, Minnesota

The property is located just south of Interstate 494 and Pilot Knob Road and is located within five miles of the Minneapolis Airport. Four, one-story concrete block with brick fascia, multi-tenant, flex buildings. Roof system is 3-ply built-up asphalt, bituminous membrane over rigid insulation.

Details

Details
Metro Area		Minneapolis
BuildingType		Business Park
Ownership (%)		100
Zoning I-1, Limited Industrial District and located
in MSP Noise Exposure Zone 3
Year Built		1986
Site Area(acres)		20.4
Lettable Area(‘000sf)		240.0
Site Coverage(%)		27
Number of Buildings		4
Number of Units		38
Average Unit Size(‘000sf)		6.0
Office Content(%)		66
Car ParkingSpaces		977
Acquisition Date		Nov-2005
Acquisition Priceplus Additions(US$m)		16.26
Book Value(US$m)		12.5
Independent Valuation Date		Jun-2009
Independent Valuation(US$m)		13.3
Market CapRate(%)		10.85
Average Net PassingRent(US$/sf)		7.37
Average Net Market Rent(US$/sf)		6.33
Initial Yield(%)		10.85
Discount Rate(%)		9.25
Major Tenant	Coca-Cola Enterprises,Inc.
Leased ByArea(%)		85
Weighted Lease Term byIncome(years)		1.8
Available(%)		13
Year 2010(%)		30
Year 2011(%)		29
Year 2012(%)		11
Year 2013(%)		1
Year 2014(%)		9
Year 2015(%)		7
Year 2016(%)		0
Year 2017(%)		0
Year 2018(%)		0
Year 2019+(%)		0

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6105 Trenton Lane North, Minneapolis, Minnesota

Trenton Lane is located off Highway 169, just south of the Highway 169 and I-694 interchange. I-694 serves as a beltway for the Twin Cities. One-story, pre-cast concrete tilt-up, single tenant, warehouse building. Roof system is built-up tar.

Details

Details
Metro Area			Minneapolis
BuildingType		Distribution Center
Ownership (%)			100
Zoning I-2	Industrial,City		of Plymouth
Year Built			1994
Site Area(acres)			11.8
Lettable Area(‘000sf)			122.0
Site Coverage(%)			24
Number of Buildings			1
Number of Units			1
Average Unit Size(‘000sf)			122.0
Office Content(%)			36
Car ParkingSpaces			407
Acquisition Date			Sep-2004
Acquisition Priceplus Additions(US$m)			6.62
Book Value(US$m)			6.5
Independent Valuation Date			Jun-2009
Independent Valuation(US$m)			6.9
Market CapRate(%)			8.86
Average Net PassingRent(US$/sf)			5.25
Average Net Market Rent(US$/sf)			5.00
Initial Yield(%)			8.86
Discount Rate(%)			9.00
Major Tenant	Select	Comfort	Corporation
Leased ByArea(%)			100
Weighted Lease Term byIncome(years)			7.8
Available(%)			0
Year 2010(%)			0
Year 2011(%)			0
Year 2012(%)			0
Year 2013(%)			0
Year 2014(%)			0
Year 2015(%)			0
Year 2016(%)			0
Year 2017(%)			100
Year 2018(%)			0
Year 2019+(%)			0

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8575 Monticello Lane, Osseo, Minnesota

Monticello Lane is located off Highway 169, just north of the Highway 169 and I-694 interchange. I-694 serves as a beltway for the Twin Cities. One-story, masonry, single tenant, warehouse building. Roof system is membrane/EPDM.

Details

Details
Metro Area		Minneapolis
BuildingType	Distribution Center
Ownership (%)		100
Zoning	I - Industrial,Cityof Maple Grove
Year Built		1986
Site Area(acres)		3.0
Lettable Area(‘000sf)		39.0
Site Coverage(%)		30
Number of Buildings		1
Number of Units		1
Average Unit Size(‘000sf)		39.0
Office Content(%)		5
Car ParkingSpaces		53
Acquisition Date		Sep-2004
Acquisition Priceplus	Additions(US$m)	1.49
Book Value(US$m)		1.6
Independent Valuation Date		Jun-2009
Independent Valuation(US$m)		1.7
Market CapRate(%)		8.81
Average Net PassingRent(US$/sf)		5.00
Average Net Market Rent(US$/sf)		4.35
Initial Yield(%)		10.96
Discount Rate(%)		9.50
Major Tenant	Cybergun International SA
Leased ByArea(%)		100
Weighted Lease Term byIncome(years)		1.0
Available(%)		0
Year 2010(%)		0
Year 2011(%)		100
Year 2012(%)		0
Year 2013(%)		0
Year 2014(%)		0
Year 2015(%)		0
Year 2016(%)		0
Year 2017(%)		0
Year 2018(%)		0
Year 2019+(%)		0

DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010 29

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2950 Lexington Avenue South, St Paul, Minnesota

2222-2298 Wooddale Drive, St Paul, Minnesota

9900 Brookford Street, Charlotte, North Carolina

Located off the Loan Oak Road exit 35E, just south of the I-35 E/I-494 interchange. I-494 connects with I-694 serving as a belt way for the twin cities. One-story concrete tilt-up, multi-tenant, warehouse building. Roof system is built-up tar.

Located off Highway 10 and 35E, just north of the I-35/I-694 interchange. I-694 serves as a beltway for the Twin Cities. Four, one-story masonry, multi-tenant, warehouse buildings. Roof systems are membrane/EPDM.

The property is located northwest Intersection of I-77, Westinghouse Boulevard exit and southwest of the I-485, Tyron Avenue exit. One-story masonry, multi-tenant, warehouse building. Roof systems are membrane EPDM.

Details

Metro Area Minneapolis BuildingType Distribution Center Ownership (%) 100 Zoning I 1 - Limited Industrial Year Built 1979 Site Area(acres) 12.6 Lettable Area(‘000sf) 184.0 Site Coverage(%) 34 Number of Buildings 1 Number of Units 6 Average Unit Size(‘000sf) 31.0 Office Content(%) 12 Car ParkingSpaces 271 Acquisition Date Sep-2004 Acquisition Priceplus Additions(US$m) 7.74 Book Value(US$m) 6.1 Independent Valuation Date Dec-2009 Independent Valuation(US$m) 6.1 Market CapRate(%) 9.50 Average Net PassingRent(US$/sf) 4.31 Average Net Market Rent(US$/sf) 4.33 Initial Yield(%) 6.00 Discount Rate(%) 11.00 Major Tenant Florstar Sales,Inc Leased ByArea(%) 63 Weighted Lease Term byIncome(years) 1.5 Available(%) 37 Year 2010(%) 37 Year 2011(%) 0 Year 2012(%) 0 Year 2013(%) 26 Year 2014(%) 0 Year 2015(%) 0 Year 2016(%) 0 Year 2017(%) 0 Year 2018(%) 0 Year 2019+(%) 0	Metro Area Minneapolis BuildingType Distribution Center Ownership (%) 100 Zoning PUD,Cityof Mounds View Year Built 1989 Site Area(acres) 22.7 Lettable Area(‘000sf) 321.0 Site Coverage(%) 32 Number of Buildings 4 Number of Units 12 Average Unit Size(‘000sf) 27.0 Office Content(%) 21 Car ParkingSpaces 717 Acquisition Date Sep-2004 Acquisition Priceplus Additions(US$m) 18.80 Book Value(US$m) 14.5 Independent Valuation Date Dec-2009 Independent Valuation(US$m) 14.5 Market CapRate(%) 10.00 Average Net PassingRent(US$/sf) 6.12 Average Net Market Rent(US$/sf) 5.53 Initial Yield(%) 9.95 Discount Rate(%) 11.00 Major Tenant Quanex Corporation Leased ByArea(%) 95 Weighted Lease Term byIncome(years) 2.1 Available(%) 5 Year 2010(%) 25 Year 2011(%) 28 Year 2012(%) 23 Year 2013(%) 14 Year 2014(%) 0 Year 2015(%) 0 Year 2016(%) 0 Year 2017(%) 0 Year 2018+(%) 5 Year 2019+(%) 0	Metro Area Charlotte
		BuildingType Distribution Center
		Ownership (%) 100
		Zoning I-2
		Year Built 1984
		Site Area(acres) 10.8
		Lettable Area(‘000sf) 122.0
		Site Coverage(%) 26
		Number of Buildings 1
		Number of Units 2
		Average Unit Size(‘000sf) 61.0
		Office Content(%) 12
		Car ParkingSpaces 80
		Acquisition Date Sep-2004
		Acquisition Priceplus Additions(US$m) 3.46
		Book Value(US$m) 3.1
		Independent Valuation Date Jun-2009
		Independent Valuation(US$m) 3.4
		Market CapRate(%) 11.43
		Average Net PassingRent(US$/sf) 3.34
		Average Net Market Rent(US$/sf) 3.25
		Initial Yield(%) 5.21
		Discount Rate(%) 11.00
		Major Tenant VisyRecycling,Inc.
		Leased ByArea(%) 51
		Weighted Lease Term byIncome(years) 2.6
		Available(%) 49
		Year 2010(%) 0
		Year 2011(%) 0
		Year 2012(%) 51
		Year 2013(%) 0
		Year 2014(%) 0
		Year 2015(%) 0
		Year 2016(%) 0
		Year 2017(%) 0
		Year 2018(%) 0
		Year 2019+(%) 0

30 DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010

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3520-3600 Westinghouse Boulevard, Charlotte, North Carolina

The property is southwest of I-485 and northeast of Route 160 at the intersection of Westinghouse Boulevard and Goodrich Drive. Four, one-story concrete tilt-up masonry, single tenant, warehouse buildings. Roof systems are membrane EPDM.

Details

Details
Metro Area		Charlotte
BuildingType	Distribution Center
Ownership (%)		100
Zoning		I-2
Year Built		1984
Site Area(acres)		31.1
Lettable Area(‘000sf)		569.0
Site Coverage(%)		42
Number of Buildings		4
Number of Units		5
Average Unit Size(‘000sf)		114.0
Office Content(%)		6
Car ParkingSpaces		406
Acquisition Date		Sep-2004
Acquisition Priceplus Additions(US$m)		17.57
Book Value(US$m)		16.1
Independent Valuation Date		Jun-2009
Independent Valuation(US$m)		18.0
Market CapRate(%)		8.87
Average Net PassingRent(US$/sf)		3.47
Average Net Market Rent(US$/sf)		3.25
Initial Yield(%)		7.37
Discount Rate(%)		9.50
Major Tenant	DMSI	Holdings,Inc.
Leased ByArea(%)		94
Weighted Lease Term byIncome(years)		1.5
Available(%)		6
Year 2010(%)		40
Year 2011(%)		44
Year 2012(%)		0
Year 2013(%)		0
Year 2014(%)		0
Year 2015(%)		0
Year 2016(%)		0
Year 2017(%)		11
Year 2018(%)		0
Year 2019+(%)		0

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World Park, 9756 & 9842 International Boulevard, Cincinnati, Ohio

West of I-75 and east of Route 747. The property is located near the intersection of International Boulevard and Duff Drive. Two, one-story concrete tilt-up, single tenant, warehouse buildings. Roof systems are built-up tar.

Details

Details
Metro Area		Cincinnati
BuildingType	Distribution Center
Ownership (%)		100
Zoning	M-2 General Industrial
Year Built		1990
Site Area(acres)		23.4
Lettable Area(‘000sf)		397.0
Site Coverage(%)		39
Number of Buildings		2
Number of Units		2
Average Unit Size(‘000sf)		198.0
Office Content(%)		4
Car ParkingSpaces		363
Acquisition Date		Sep-2004
Acquisition Priceplus Additions	(US$m)	10.73
Book Value(US$m)		8.3
Independent Valuation Date		Dec-2009
Independent Valuation(US$m)		8.3
Market CapRate(%)		9.25
Average Net PassingRent(US$/sf)		2.28
Average Net Market Rent(US$/sf)		2.50
Initial Yield(%)		9.04
Discount Rate(%)		10.00
Major Tenant	The Wornick Company
Leased ByArea(%)		100
Weighted Lease Term byIncome(years)		0.7
Available(%)		0
Year 2010(%)		40
Year 2011(%)		60
Year 2012(%)		0
Year 2013(%)		0
Year 2014(%)		0
Year 2015(%)		0
Year 2016(%)		0
Year 2017(%)		0
Year 2018(%)		0
Year 2019+(%)		0

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10013-11093 Kenwood Road, Cincinnati, Ohio

The property is located just west of the I-71/I-275 interchange. Seven, one-story concrete tilt-up/ masonry and metal, single/multi-tenant, warehouse buildings. Roof systems are built-up tar and metal.

Details

Details
Metro Area			Cincinnati
BuildingType		Distribution Center
Ownership (%)			100
Zoning	M-1 Industrial District
Year Built			1964
Site Area(acres)			40.6
Lettable Area(‘000sf)			770.0
Site Coverage(%)			44
Number of Buildings			7
Number of Units			11
Average Unit Size(‘000sf)			70.0
Office Content(%)			4
Car ParkingSpaces			340
Acquisition Date			Sep-2004
Acquisition Priceplus Additions(US$m)			16.17
Book Value(US$m)			14.7
Independent Valuation Date			Dec-2009
Independent Valuation(US$m)			14.7
Market CapRate(%)			9.00
Average Net PassingRent(US$/sf)			2.71
Average Net Market Rent(US$/sf)			2.15
Initial Yield(%)			8.99
Discount Rate(%)			10.00
Major Tenant	Commonwealth,Inc.
Leased ByArea(%)			89
Weighted Lease Term byIncome(years)			2.4
Available(%)			9
Year 2010(%)			29
Year 2011(%)			8
Year 2012(%)			5
Year 2013(%)			0
Year 2014(%)			48
Year 2015(%)			0
Year 2016(%)			0
Year 2017(%)			0
Year 2018(%)			0
Year 2019+(%)			0

DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010 31

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6241 Shook Road, Lockbourne, Columbus, Ohio

The property is located at the northwest corner of London Groveport Road and Shook Road in the southeast area of Columbus, southeast of Interstate 270 and north of Rickenbacker International Airport.

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4343 & 4401 Equity Drive, 1614-1634 & 1999 Westbelt Drive & 1901-1919 Dividend Drive, Columbus, Ohio

The properties are located just north of the I-70 and I-270 interchange, between Tribune Road and Roberts Road. Five, one-story concrete tilt-up, multi-tenant, warehouse/flex buildings. Roof systems are built-up tar and membrane/EPDM.

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2700 International Street, Columbus, Ohio

Northwest of the I-270 and Roberts Road interchange. Single, one-story concrete tilt-up, multi-tenant, warehouse building. Roof system is membrane/EPDM.

Details

Metro Area Columbus BuildingType Distribution Center Ownership (%) 100 Zoning LM - Manufacturing Year Built 2009 Site Area(acres) 87.1 Lettable Area(‘000sf) 1589.0 Site Coverage(%) 42 Number of Buildings 1 Number of Units 1 Average Unit Size(‘000sf) 1589.0 Office Content(%) 1 Car ParkingSpaces 205 Acquisition Date Jul-2009 Acquisition Priceplus Additions(US$m) 65.21 Book Value(US$m) 60.5 Independent Valuation Date Dec-2009 Independent Valuation(US$m) 60.5 Market CapRate(%) 7.50 Average Net PassingRent(US$/sf) 2.83 Average Net Market Rent(US$/sf) 3.00 Initial Yield(%) 7.49 Discount Rate(%) 8.50 Major Tenant Whirlpool Corporation Leased ByArea(%) 100 Weighted Lease Term byIncome(years) 9.6 Available(%) 0 Year 2010(%) 0 Year 2011(%) 0 Year 2012(%) 0 Year 2013(%) 0 Year 2014(%) 0 Year 2015(%) 0 Year 2016(%) 0 Year 2017(%) 0 Year 2018(%) 0 Year 2019+(%) 100	Metro Area Columbus BuildingType Industrial Estate Ownership (%) 100 Zoning M2 - ManufacturingDistrict Year Built 1980 Site Area(acres) 55.9 Lettable Area(‘000sf) 920.0 Site Coverage(%) 38 Number of Buildings 5 Number of Units 10 Average Unit Size(‘000sf) 92.0 Office Content(%) 31 Car ParkingSpaces 972 Acquisition Date Sep-2004 Acquisition Priceplus Additions(US$m) 32.04 Book Value(US$m) 27.3 Independent Valuation Date Dec-2009 Independent Valuation(US$m) 27.3 Market CapRate(%) 9.25 Average Net PassingRent(US$/sf) 3.59 Average Net Market Rent(US$/sf) 3.49 Initial Yield(%) 8.59 Discount Rate(%) 10.04 Major Tenant Tri State Gift Association Inc. Leased ByArea(%) 98 Weighted Lease Term byIncome(years) 4.7 Available(%) 2 Year 2010(%) 24 Year 2011(%) 13 Year 2012(%) 0 Year 2013(%) 17 Year 2014(%) 0 Year 2015(%) 16 Year 2016(%) 0 Year 2017(%) 0 Year 2018(%) 0 Year 2019+(%) 22	Metro Area Columbus
		BuildingType Industrial Estate
		Ownership (%) 100
		Zoning M ManufacturingDistrict
		Year Built 1988
		Site Area(acres) 12.4
		Lettable Area(‘000sf) 153.0
		Site Coverage(%) 28
		Number of Buildings 1
		Number of Units 2
		Average Unit Size(‘000sf) 76.0
		Office Content(%) 7
		Car ParkingSpaces 390
		Acquisition Date Sep-2004
		Acquisition Priceplus Additions(US$m) 3.87
		Book Value(US$m) 2.7
		Independent Valuation Date Dec-2009
		Independent Valuation(US$m) 2.7
		Market CapRate(%) 9.25
		Average Net PassingRent(US$/sf) 2.58
		Average Net Market Rent(US$/sf) 2.65
		Initial Yield(%) 5.22
		Discount Rate(%) 10.00
		Major Tenant USF Distribution Services
		Leased ByArea(%) 100
		Weighted Lease Term byIncome(years) 0.2
		Available(%) 0
		Year 2010(%) 100
		Year 2011(%) 0
		Year 2012(%) 0
		Year 2013(%) 0
		Year 2014(%) 0
		Year 2015(%) 0
		Year 2016(%) 0
		Year 2017(%) 0
		Year 2018(%) 0
		Year 2019+(%) 0

32 DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010

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SE Columbus, 2550 John Glenn Avenue & 2626 Port Road, Columbus, Ohio

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124 Commerce Boulevard, Loveland, Ohio

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6350 & 6360 Brackbill Boulevard, Mechanicsburg, Pennsylvania

Intersection of 270 and Alum Creek Drive at Rickenbacker Airport. Two, one-story concrete tilt-up, multi-tenant, warehouse buildings.

Details

The property is located just south of the I-71/Fields Ertel Road exit at Loveland Industrial Park. One-story masonry, single tenant, warehouse building. Roof system is metal.

Details

Two, one-story masonry and metal, single tenant, industrial distribution facilities. Both buildings offer single side loading with a common truck court located between the two buildings. The property is also rail served with rail side loading located along the southern elevations. The area benefits from good access to I-81 and the Pennsylvania Turnpike.

Details

Details	Details	Details The property is also rail served with rail side loading located along the southern elevations. The area benefits from good access to I-81 and the Pennsylvania Turnpike.
Metro Area Columbus BuildingType Distribution Center Ownership (%) 100 Zoning Industrial,Cityof Columbus Year Built 1995 Site Area(acres) 17.5 Lettable Area(‘000sf) 362.0 Site Coverage(%) 47 Number of Buildings 2 Number of Units 4 Average Unit Size(‘000sf) 90.0 Office Content(%) 10 Car ParkingSpaces 229 Acquisition Date Sep-2004 Acquisition Priceplus Additions(US$m) 11.58 Book Value(US$m) 8.5 Independent Valuation Date Dec-2009 Independent Valuation(US$m) 8.5 Market CapRate(%) 8.75 Average Net PassingRent(US$/sf) 2.95 Average Net Market Rent(US$/sf) 2.75 Initial Yield(%) 6.12 Discount Rate(%) 9.50 Major Tenant AmerisourceBergen DrugCorp Leased ByArea(%) 93 Weighted Lease Term byIncome(years) 4.5 Available(%) 7 Year 2010(%) 0 Year 2011(%) 0 Year 2012(%) 8 Year 2013(%) 38 Year 2014(%) 0 Year 2015(%) 47 Year 2016(%) 0 Year 2017(%) 0 Year 2018(%) 0 Year 2019+(%) 0	Metro Area Cincinnati BuildingType Distribution Center Ownership (%) 100 Zoning L-1 Light Industrial Year Built 1989 Site Area(acres) 4.3 Lettable Area(‘000sf) 35.0 Site Coverage(%) 18 Number of Buildings 1 Number of Units 1 Average Unit Size(‘000sf) 35.0 Office Content(%) 13 Car ParkingSpaces 86 Acquisition Date Sep-2004 Acquisition Priceplus Additions(US$m) 1.99 Book Value(US$m) 2.0 Independent Valuation Date Dec-2009 Independent Valuation(US$m) 2.0 Market CapRate(%) 9.25 Average Net PassingRent(US$/sf) 6.57 Average Net Market Rent(US$/sf) 5.75 Initial Yield(%) 11.10 Discount Rate(%) 9.50 Major Tenant Federal Express Kinkos Corp Leased ByArea(%) 100 Weighted Lease Term byIncome(years) 1.1 Available(%) 0 Year 2010(%) 0 Year 2011(%) 100 Year 2012(%) 0 Year 2013(%) 0 Year 2014(%) 0 Year 2015(%) 0 Year 2016(%) 0 Year 2017(%) 0 Year 2018(%) 0 Year 2019+(%) 0	Metro Area Harrisburg
		BuildingType Distribution Center
		Ownership (%) 100
		Zoning Industrial Zone
		Year Built 1984
		Site Area(acres) 28.5
		Lettable Area(‘000sf) 494.0
		Site Coverage(%) 40
		Number of Buildings 2
		Number of Units 2
		Average Unit Size(‘000sf) 247.0
		Office Content(%) 2
		Car ParkingSpaces 92
		Acquisition Date Sep-2004
		Acquisition Priceplus Additions(US$m) 18.86
		Book Value(US$m) 12.6
		Independent Valuation Date Jun-2009
		Independent Valuation(US$m) 13.0
		Market CapRate(%) 13.74
		Average Net PassingRent(US$/sf) -
		Average Net Market Rent(US$/sf) 3.50
		Initial Yield(%) -1.42
		Discount Rate(%) 11.50
		Major Tenant -
		Leased ByArea(%) 0
		Weighted Lease Term byIncome(years) -
		Available(%) 100
		Year 2010(%) 0
		Year 2011(%) 0
		Year 2012(%) 0
		Year 2013(%) 0
		Year 2014(%) 0
		Year 2015(%) 0
		Year 2016(%) 0
		Year 2017(%) 0
		Year 2018(%) 0
		Year 2019+(%) 0

DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010 33

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US PortfolIo

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912 113th Street & 2300 East Randoll Mill Road, Arlington, Texas

555 Airline Drive, Coppell, Texas

1900 Diplomat Drive, Dallas, Texas

912 113th Street is located near Interstate Highway 30 in Arlington, Texas, Tarrant County. 2300 Randol Mill Road is located between Interstate Highway 30 and Interstate Highway 20 just west of Highway 360. Two, one-story concrete tilt-up, single tenant, flex buildings. Roof systems are membrane/EPDM.

Situated east of Highway 35 in Carrollton, Texas, Denton County. The property can be accessed from Dickerson Parkway or Bradley Lane. One, single-story concrete tilt-up, single tenant, office/warehouse building. Roof system is membrane/EPDM.

Located west of Highway 35 in Carrollton, Texas, Denton County. The property is accessible by Benchmark Drive and Diplomat Drive. One, single-story concrete tilt-up, multi-tenant, flex building. Roof system is built-up tar.

Details

Metro Area Dallas BuildingType Business Park Ownership (%) 100 Zoning IM - Industrial Manufacturing Year Built 1979 Site Area(acres) 7.3 Lettable Area(‘000sf) 131.0 Site Coverage(%) 41 Number of Buildings 2 Number of Units 2 Average Unit Size(‘000sf) 65.0 Office Content(%) 52 Car ParkingSpaces 274 Acquisition Date Sep-2004 Acquisition Priceplus Additions(US$m) 7.38 Book Value(US$m) 6.8 Independent Valuation Date Jun-2009 Independent Valuation(US$m) 6.9 Market CapRate(%) 11.27 Average Net PassingRent(US$/sf) 6.38 Average Net Market Rent(US$/sf) 5.64 Initial Yield(%) 11.27 Discount Rate(%) 9.25 Major Tenant Donruss Playoff,L.P. Leased ByArea(%) 100 Weighted Lease Term byIncome(years) 1.2 Available(%) 0 Year 2010(%) 0 Year 2011(%) 100 Year 2012(%) 0 Year 2013(%) 0 Year 2014(%) 0 Year 2015(%) 0 Year 2016(%) 0 Year 2017(%) 0 Year 2018(%) 0 Year 2019+(%) 0	Metro Area Dallas BuildingType Industrial Estate Ownership (%) 100 Zoning Office/Warehouse Year Built 1990 Site Area(acres) 6.6 Lettable Area(‘000sf) 141.0 Site Coverage(%) 49 Number of Buildings 1 Number of Units 2 Average Unit Size(‘000sf) 70.0 Office Content(%) 14 Car ParkingSpaces 242 Acquisition Date Sep-2004 Acquisition Priceplus Additions(US$m) 5.47 Book Value(US$m) 4.8 Independent Valuation Date Jun-2009 Independent Valuation(US$m) 5.1 Market CapRate(%) 10.20 Average Net PassingRent(US$/sf) 3.58 Average Net Market Rent(US$/sf) 3.50 Initial Yield(%) 10.20 Discount Rate(%) 9.25 Major Tenant Rediform,Inc. Leased ByArea(%) 100 Weighted Lease Term byIncome(years) 2.6 Available(%) 0 Year 2010(%) 0 Year 2011(%) 75 Year 2012(%) 0 Year 2013(%) 0 Year 2014(%) 0 Year 2015(%) 0 Year 2016(%) 0 Year 2017(%) 25 Year 2018(%) 0 Year 2019+(%) 0	Metro Area Dallas
		BuildingType Business Park
		Ownership (%) 100
		Zoning LI - 1 Light Industrial
		Year Built 1984
		Site Area(acres) 4.4
		Lettable Area(‘000sf) 83.0
		Site Coverage(%) 43
		Number of Buildings 1
		Number of Units 2
		Average Unit Size(‘000sf) 41.0
		Office Content(%) 35
		Car ParkingSpaces 157
		Acquisition Date Sep-2004
		Acquisition Priceplus Additions(US$m) 4.29
		Book Value(US$m) 2.9
		Independent Valuation Date Jun-2009
		Independent Valuation(US$m) 3.0
		Market CapRate(%) 13.16
		Average Net PassingRent(US$/sf) 2.77
		Average Net Market Rent(US$/sf) 4.11
		Initial Yield(%) 13.16
		Discount Rate(%) 9.25
		Major Tenant McDonald Technologies International
		Leased ByArea(%) 100
		Weighted Lease Term byIncome(years) 0.6
		Available(%) 0
		Year 2010(%) 100
		Year 2011(%) 0
		Year 2012(%) 0
		Year 2013(%) 0
		Year 2014(%) 0
		Year 2015(%) 0
		Year 2016(%) 0
		Year 2017(%) 0
		Year 2018(%) 0
		Year 2019+(%) 0

34 DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010

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2055 Diplomat Drive, Dallas, Texas

11411, 11460-11480 & 11550-11560 Hillguard Road, Dallas, Texas

Located west of Highway 35 in Carrollton, Texas, Denton County. The property is accessible by Benchmark Drive and Diplomat Drive. One, single-story concrete tilt-up, single tenant, flex building. Roof system is built-up tar.

The properties are located east of I-635 between Forest Lane and Miller Road. Three, one-story concrete tilt-up, multi-tenant, warehouse/flex buildings. Roof systems are membrane/EPDM.

Details

Details	Details
Metro Area Dallas BuildingType Business Park Ownership (%) 100 Zoning LI - 1 Light Industrial Year Built 1997 Site Area(acres) 2.6 Lettable Area(‘000sf) 53.0 Site Coverage(%) 46 Number of Buildings 1 Number of Units 1 Average Unit Size(‘000sf) 53.0 Office Content(%) 30 Car ParkingSpaces 116 Acquisition Date Sep-2004 Acquisition Priceplus Additions(US$m) 3.10 Book Value(US$m) 2.3 Independent Valuation Date Jun-2009 Independent Valuation(US$m) 2.2 Market CapRate(%) 12.77 Average Net PassingRent(US$/sf) 5.85 Average Net Market Rent(US$/sf) 5.25 Initial Yield(%) 12.77 Discount Rate(%) 9.25 Major Tenant Natural Health Trends,Corp. Leased ByArea(%) 100 Weighted Lease Term byIncome(years) 1.9 Available(%) 0 Year 2010(%) 0 Year 2011(%) 100 Year 2012(%) 0 Year 2013(%) 0 Year 2014(%) 0 Year 2015(%) 0 Year 2016(%) 0 Year 2017(%) 0 Year 2018(%) 0 Year 2019+(%) 0	Metro Area Dallas
	BuildingType Industrial Estate
	Ownership (%) 100
	Zoning IR - Industrial Research District
	Year Built 1980
	Site Area(acres) 12.6
	Lettable Area(‘000sf) 248.0
	Site Coverage(%) 45
	Number of Buildings 3
	Number of Units 8
	Average Unit Size(‘000sf) 31.0
	Office Content(%) 14
	Car ParkingSpaces 333
	Acquisition Date Sep-2004
	Acquisition Priceplus Additions(US$m) 7.44
	Book Value(US$m) 6.7
	Independent Valuation Date Jun-2009
	Independent Valuation(US$m) 7.9
	Market CapRate(%) 11.63
	Average Net PassingRent(US$/sf) 3.28
	Average Net Market Rent(US$/sf) 3.39
	Initial Yield(%) 9.98
	Discount Rate(%) 9.25
	Major Tenant Sugar Stix,Inc.
	Leased ByArea(%) 100
	Weighted Lease Term byIncome(years) 2.2
	Available(%) 0
	Year 2010(%) 56
	Year 2011(%) 0
	Year 2012(%) 23
	Year 2013(%) 8
	Year 2014(%) 0
	Year 2015(%) 0
	Year 2016(%) 0
	Year 2017(%) 13
	Year 2018(%) 0
	Year 2019+(%) 0

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CTC at Valwood, 13755 Hutton Drive, Dallas, Texas

This building is located in the northwest region of Dallas County on the southwest corner of the intersection of Hutton Drive and Hutton Court between Route 175 and Route 32. Concrete tilt wall panels with glass storefront, multi-tenant, flex building. Roof system is membrane/EPDM.

Details

Details
Metro Area		Dallas
BuildingType		Business Park
Ownership (%)		100
Zoning	LI - 1	Light Industrial
Year Built		2001
Site Area(acres)		3.2
Lettable Area(‘000sf)		47.0
Site Coverage(%)		34
Number of Buildings		1
Number of Units		2
Average Unit Size(‘000sf)		23.0
Office Content(%)		0
Car ParkingSpaces		187
Acquisition Date		Sep-2004
Acquisition Priceplus Additions(US$m)		2.90
Book Value(US$m)		3.0
Independent Valuation Date		Jun-2009
Independent Valuation(US$m)		3.1
Market CapRate(%)		10.56
Average Net PassingRent(US$/sf)		6.92
Average Net Market Rent(US$/sf)		6.69
Initial Yield(%)		10.20
Discount Rate(%)		9.25
Major Tenant		Lanvera,Ltd
Leased ByArea(%)		100
Weighted Lease Term byIncome(years)		1.9
Available(%)		0
Year 2010(%)		0
Year 2011(%)		34
Year 2012(%)		66
Year 2013(%)		0
Year 2014(%)		0
Year 2015(%)		0
Year 2016(%)		0
Year 2017(%)		0
Year 2018(%)		0
Year 2019+(%)		0

DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010 35

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11011 Regency Crest Drive, Garland, Texas

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Garland Jupiter, Garland, Texas

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Plano Parkway, Plano, Texas

The property is located east of I-635 in the city of Dallas, Dallas County, Texas. It is accessible from Sanden Drive and Regency Crest Drive. One, single-story concrete tilt-up, multi-tenant, warehouse building. Roof system is built-up tar.

This 25.6-acre development land site was purchased on 30 June 2006 and is located in Garland, Dallas, Texas.

This 13.5-acre development land site was purchased on 30 June 2006 and is located in Plano, Dallas, Texas.

Details

Metro Area Dallas BuildingType Distribution Center Ownership (%) 100 Zoning IR - Industrial Research Year Built 1999 Site Area(acres) 8.8 Lettable Area(‘000sf) 177.0 Site Coverage(%) 46 Number of Buildings 1 Number of Units 4 Average Unit Size(‘000sf) 44.0 Office Content(%) 5 Car ParkingSpaces 287 Acquisition Date Sep-2004 Acquisition Priceplus Additions(US$m) 6.17 Book Value(US$m) 5.0 Independent Valuation Date Jun-2009 Independent Valuation(US$m) 5.9 Market CapRate(%) 10.24 Average Net PassingRent(US$/sf) 2.69 Average Net Market Rent(US$/sf) 3.25 Initial Yield(%) 8.72 Discount Rate(%) 9.75 Major Tenant Trane Leased ByArea(%) 100 Weighted Lease Term byIncome(years) 2.2 Available(%) 0 Year 2010(%) 0 Year 2011(%) 31 Year 2012(%) 69 Year 2013(%) 0 Year 2014(%) 0 Year 2015(%) 0 Year 2016(%) 0 Year 2017(%) 0 Year 2018(%) 0 Year 2019+(%) 0	Metro Area Dallas BuildingType Land Ownership (%) 100 Zoning - Year Built - Site Area(acres) 25.6 Lettable Area(‘000sf) - Site Coverage(%) - Number of Buildings - Number of Units - Average Unit Size(‘000sf) - Office Content(%) - Car ParkingSpaces - Acquisition Date Jun-2006 Acquisition Priceplus Additions(US$m) 3.00 Book Value(US$m) 2.8 Independent Valuation Date Jun-2009 Independent Valuation(US$m) 2.8 Market CapRate(%) - Average Net PassingRent(US$/sf) - Average Net Market Rent(US$/sf) - Initial Yield(%) - Discount Rate(%) - Major Tenant - Leased ByArea(%) - Weighted Lease Term byIncome(years) - Available(%) 0 Year 2010(%) 0 Year 2011(%) 0 Year 2012(%) 0 Year 2013(%) 0 Year 2014(%) 0 Year 2015(%) 0 Year 2016(%) 0 Year 2017(%) 0 Year 2018(%) 0 Year 2019+(%) 0	Metro Area Dallas
		BuildingType Land
		Ownership (%) 100
		Zoning -
		Year Built -
		Site Area(acres) 13.5
		Lettable Area(‘000sf) -
		Site Coverage(%) -
		Number of Buildings -
		Number of Units -
		Average Unit Size(‘000sf) -
		Office Content(%) -
		Car ParkingSpaces -
		Acquisition Date Jun-2006
		Acquisition Priceplus Additions(US$m) 1.92
		Book Value(US$m) 1.8
		Independent Valuation Date Jun-2009
		Independent Valuation(US$m) 1.8
		Market CapRate(%) -
		Average Net PassingRent(US$/sf) -
		Average Net Market Rent(US$/sf) -
		Initial Yield(%) -
		Discount Rate(%) -
		Major Tenant -
		Leased ByArea(%) -
		Weighted Lease Term byIncome(years) -
		Available(%) 0
		Year 2010(%) 0
		Year 2011(%) 0
		Year 2012(%) 0
		Year 2013(%) 0
		Year 2014(%) 0
		Year 2015(%) 0
		Year 2016(%) 0
		Year 2017(%) 0
		Year 2018(%) 0
		Year 2019+(%) 0

36 DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010

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1800-1808 10th Street, Plano, Texas

820-860 F Avenue, Plano, Texas

These properties are located north of I-90 in the city of Plano, Collin County, Texas. Two multi-tenant, concrete tilt-up, warehouse/flex buildings. Roof systems are built-up tar.

The property is located east of North Central Expressway in the city of Plano, Collin County, Texas. Three, one-story masonry, multi-tenant, flex buildings. Roof system is built-up tar.

Details

Details	Details
Metro Area Dallas BuildingType Industrial Estate Ownership (%) 100 Zoning LI - 1 Light Industrial Year Built 1986 Site Area(acres) 11.3 Lettable Area(‘000sf) 209.0 Site Coverage(%) 43 Number of Buildings 2 Number of Units 7 Average Unit Size(‘000sf) 30.0 Office Content(%) 12 Car ParkingSpaces 429 Acquisition Date Sep-2004 Acquisition Priceplus Additions(US$m) 8.35 Book Value(US$m) 9.2 Independent Valuation Date Jun-2009 Independent Valuation(US$m) 8.7 Market CapRate(%) 9.42 Average Net PassingRent(US$/sf) 4.38 Average Net Market Rent(US$/sf) 4.69 Initial Yield(%) 9.42 Discount Rate(%) 9.25 Major Tenant The Picture People,Inc. Leased ByArea(%) 100 Weighted Lease Term byIncome(years) 4.7 Available(%) 0 Year 2010(%) 0 Year 2011(%) 19 Year 2012(%) 17 Year 2013(%) 0 Year 2014(%) 12 Year 2015(%) 28 Year 2016(%) 0 Year 2017(%) 0 Year 2018(%) 23 Year 2019+(%) 0	Metro Area Dallas
	BuildingType Business Park
	Ownership (%) 100
	Zoning LI - 1 Light Industrial
	Year Built 1984
	Site Area(acres) 5.3
	Lettable Area(‘000sf) 73.0
	Site Coverage(%) 31
	Number of Buildings 1
	Number of Units 10
	Average Unit Size(‘000sf) 7.0
	Office Content(%) 80
	Car ParkingSpaces 232
	Acquisition Date Sep-2004
	Acquisition Priceplus Additions(US$m) 5.87
	Book Value(US$m) 4.8
	Independent Valuation Date Jun-2009
	Independent Valuation(US$m) 4.8
	Market CapRate(%) 10.77
	Average Net PassingRent(US$/sf) 9.93
	Average Net Market Rent(US$/sf) 10.00
	Initial Yield(%) 10.06
	Discount Rate(%) 9.50
	Major Tenant Hope’s Door,Inc.
	Leased ByArea(%) 100
	Weighted Lease Term byIncome(years) 2.6
	Available(%) 0
	Year 2010(%) 15
	Year 2011(%) 30
	Year 2012(%) 34
	Year 2013(%) 0
	Year 2014(%) 7
	Year 2015(%) 0
	Year 2016(%) 14
	Year 2017(%) 0
	Year 2018(%) 0
	Year 2019+(%) 0

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1600-1700 Capital Avenue, Plano, Texas

These buildings are located north of I-90 in the city of Plano, Collin County, Texas. Two, single-story concrete tilt-up, multi-tenant, warehouse/flex buildings. Roof systems are built-up tar.

Details

Details
Metro Area		Dallas
BuildingType	Industrial Estate
Ownership (%)		100
Zoning	LI - 1 Light Industrial
Year Built		1986
Site Area(acres)		5.7
Lettable Area(‘000sf)		101.0
Site Coverage(%)		40
Number of Buildings		2
Number of Units		5
Average Unit Size(‘000sf)		20.0
Office Content(%)		32
Car ParkingSpaces		225
Acquisition Date		Sep-2004
Acquisition Priceplus Additions(US$m)		5.63
Book Value(US$m)		4.8
Independent Valuation Date		Jun-2009
Independent Valuation(US$m)		4.8
Market CapRate(%)		10.96
Average Net PassingRent(US$/sf)		2.79
Average Net Market Rent(US$/sf)		5.38
Initial Yield(%)		9.29
Discount Rate(%)		9.50
Major Tenant	Drucker Labs,L.P.
Leased ByArea(%)		83
Weighted Lease Term byIncome(years)		2.8
Available(%)		28
Year 2010(%)		0
Year 2011(%)		22
Year 2012(%)		31
Year 2013(%)		0
Year 2014(%)		19
Year 2015(%)		0
Year 2016(%)		0
Year 2017(%)		0
Year 2018(%)		0
Year 2019+(%)		0

DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010 37

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3601 East Plano Parkway & 1000 Shiloh Road, Plano, Texas

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2701, 2801, 2805 East Plano Parkway & 2700 Summit Avenue, Plano, Texas

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885 East Collins Boulevard, Richardson, Texas

North of I-90 and east of North Central Expressway. The properties are accessible from East Plano Parkway. Two, one-story concrete tilt-up, multi-tenant, warehouse/flex buildings. Roof systems are membrane/EPDM.

North of I-90 and east of North Central Expressway. The properties are accessible from East Plano Parkway. Four, one-story concrete tilt-up, multi-tenant, warehouse/flex buildings. Roof systems are built-up tar.

The property is located east of North Central Expressway in the city of Richardson, Dallas County, Texas. It is accessible from Firman Drive and Collins Boulevard. One, single-story concrete tilt-up, multi-tenant, flex building. Roof system is membrane/EPDM.

Details

Metro Area Dallas BuildingType Industrial Estate Ownership (%) 100 Zoning RT - Research Technology Year Built 1998 Site Area(acres) 19.5 Lettable Area(‘000sf) 287.0 Site Coverage(%) 34 Number of Buildings 2 Number of Units 8 Average Unit Size(‘000sf) 36.0 Office Content(%) 8 Car ParkingSpaces 600 Acquisition Date Sep-2004 Acquisition Priceplus Additions(US$m) 11.05 Book Value(US$m) 9.2 Independent Valuation Date Dec-2009 Independent Valuation(US$m) 9.2 Market CapRate(%) 9.50 Average Net PassingRent(US$/sf) 4.80 Average Net Market Rent(US$/sf) 4.85 Initial Yield(%) 2.97 Discount Rate(%) 10.50 Major Tenant Genband Inc. Leased ByArea(%) 44 Weighted Lease Term byIncome(years) 3.6 Available(%) 56 Year 2010(%) 0 Year 2011(%) 8 Year 2012(%) 7 Year 2013(%) 5 Year 2014(%) 14 Year 2015(%) 11 Year 2016(%) 0 Year 2017(%) 0 Year 2018(%) 0 Year 2019+(%) 0	Metro Area Dallas BuildingType Industrial Estate Ownership (%) 100 Zoning RT - Research Technology Year Built 1998 Site Area(acres) 21.2 Lettable Area(‘000sf) 307.0 Site Coverage(%) 33 Number of Buildings 4 Number of Units 10 Average Unit Size(‘000sf) 31.0 Office Content(%) 39 Car ParkingSpaces 897 Acquisition Date Sep-2004 Acquisition Priceplus Additions(US$m) 18.11 Book Value(US$m) 19.3 Independent Valuation Date Dec-2009 Independent Valuation(US$m) 19.3 Market CapRate(%) 9.09 Average Net PassingRent(US$/sf) 6.51 Average Net Market Rent(US$/sf) 6.68 Initial Yield(%) 8.75 Discount Rate(%) 9.99 Major Tenant XO Communications Services Leased ByArea(%) 87 Weighted Lease Term byIncome(years) 2.6 Available(%) 14 Year 2010(%) 5 Year 2011(%) 39 Year 2012(%) 12 Year 2013(%) 20 Year 2014(%) 10 Year 2015(%) 0 Year 2016(%) 0 Year 2017(%) 0 Year 2018(%) 0 Year 2019+(%) 3	Metro Area Dallas
		BuildingType Business Park
		Ownership (%) 100
		Zoning IM(1)SPL
		Year Built 1985
		Site Area(acres) 4.5
		Lettable Area(‘000sf) 56.0
		Site Coverage(%) 29
		Number of Buildings 1
		Number of Units 5
		Average Unit Size(‘000sf) 11.0
		Office Content(%) 31
		Car ParkingSpaces 245
		Acquisition Date Sep-2004
		Acquisition Priceplus Additions(US$m) 3.11
		Book Value(US$m) 2.4
		Independent Valuation Date Jun-2009
		Independent Valuation(US$m) 2.3
		Market CapRate(%) 11.71
		Average Net PassingRent(US$/sf) 3.78
		Average Net Market Rent(US$/sf) 8.50
		Initial Yield(%) 4.96
		Discount Rate(%) 10.50
		Major Tenant Air System Components
		Leased ByArea(%) 75
		Weighted Lease Term byIncome(years) 0.8
		Available(%) 43
		Year 2010(%) 57
		Year 2011(%) 0
		Year 2012(%) 0
		Year 2013(%) 0
		Year 2014(%) 0
		Year 2015(%) 0
		Year 2016(%) 0
		Year 2017(%) 0
		Year 2018(%) 0
		Year 2019+(%) 0

38 DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010

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Cornerstone Building, 5411 I-10 East & 1228 Cornerway Boulevard, San Antonio, Texas

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302-402 N Tayman Road, San Antonio, Texas

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202 S Tayman Road, San Antonio, Texas

Two buildings totaling 288,000 square feet with 30’ clear heights and 10% office buildout.

Two buildings totaling 416,000 square feet. 402 Tayman has 16’ clear heights and no office buildout while 302 Tayman Road has 30’ clear heights and 2% office buildout.

This is a 275,000 square foot facility with 17 rail dock doors and 1,000 linear feet of rail service. The property is located at the Port of San Antonio near the interchange of Interstate 35 and 10. Design and development were completed in August 2009.

Details

Details	Details	Details
Metro Area San Antonio BuildingType Industrial/Warehouse Ownership (%) 100 Zoning Industrial or Light Manufacturing Year Built 2007 Site Area(acres) 17.1 Lettable Area(‘000sf) 288.0 Site Coverage(%) 39 Number of Buildings 2 Number of Units 3 Average Unit Size(‘000sf) 96.0 Office Content(%) 10 Car ParkingSpaces 321 Acquisition Date Aug-2007 Acquisition Priceplus Additions(US$m) 11.70 Book Value(US$m) 12.2 Independent Valuation Date Jun-2009 Independent Valuation(US$m) 12.0 Market CapRate(%) 9.91 Average Net PassingRent(US$/sf) 4.29 Average Net Market Rent(US$/sf) 4.00 Initial Yield(%) 7.68 Discount Rate(%) 10.25 Major Tenant Greenstar North America,LLC Leased ByArea(%) 75 Weighted Lease Term byIncome(years) 8.0 Available(%) 24 Year 2010(%) 0 Year 2011(%) 0 Year 2012(%) 0 Year 2013(%) 18 Year 2014(%) 0 Year 2015(%) 0 Year 2016(%) 0 Year 2017(%) 0 Year 2018(%) 0 Year 2019+(%) 63	Metro Area San Antonio BuildingType Industrial/Warehouse Ownership (%) 100 Zoning Industrial or Light Manufacturing Year Built 2006 Site Area(acres) 29.6 Lettable Area(‘000sf) 416.0 Site Coverage(%) 32 Number of Buildings 2 Number of Units 8 Average Unit Size(‘000sf) 52.0 Office Content(%) 2 Car ParkingSpaces 160 Acquisition Date Oct-2007 Acquisition Priceplus Additions(US$m) 14.59 Book Value(US$m) 17.0 Independent Valuation Date Dec-2009 Independent Valuation(US$m) 17.0 Market CapRate(%) 8.50 Average Net PassingRent(US$/sf) 3.75 Average Net Market Rent(US$/sf) 3.88 Initial Yield(%) 7.69 Discount Rate(%) 9.50 Major Tenant Fiesta Warehousing& Distribution Leased ByArea(%) 89 Weighted Lease Term byIncome(years) 9.0 Available(%) 11 Year 2010(%) 0 Year 2011(%) 0 Year 2012(%) 0 Year 2013(%) 12 Year 2014(%) 0 Year 2015(%) 0 Year 2016(%) 0 Year 2017(%) 0 Year 2018+(%) 0 Year 2019+(%) 76	Metro Area San Antonio
		BuildingType Industrial/Warehouse
		Ownership (%) 97
		Co-Owner Santa Barbara Development Services
		Zoning -
		Year Built 2009
		Site Area(acres) 10.3
		Lettable Area(‘000sf) 275.4
		Site Coverage(%) 61
		Number of Buildings 1
		Number of Units 1
		Average Unit Size(‘000sf) -
		Office Content(%) -
		Car ParkingSpaces -
		Acquisition Date Nov-2007
		Acquisition Priceplus Additions(US$m) 10.54
		Book Value(US$m) 5.6
		Independent Valuation Date Jun-2009
		Independent Valuation(US$m) 8.8
		Market CapRate(%) 11.29
		Average Net PassingRent(US$/sf) -
		Average Net Market Rent(US$/sf) 3.96
		Initial Yield(%) -
		Discount Rate(%) 9.25
		Major Tenant -
		Leased ByArea(%) -
		Weighted Lease Term byIncome(years) -
		Available(%) 100
		Year 2010(%) 0
		Year 2011(%) 0
		Year 2012(%) 0
		Year 2013(%) 0
		Year 2014(%) 0
		Year 2015(%) 0
		Year 2016(%) 0
		Year 2017(%) 0
		Year 2018(%) 0
		Year 2019+(%) 0

DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010 39

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1803 Grandstand Drive, San Antonio, Texas

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8151-8161 Interchange Parkway, San Antonio, Texas

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8171 Interchange Parkway, San Antonio, Texas

Single 133,500 square foot building with 24’ clear heights and 23% office buildout.

Two buildings totaling 209,500 square feet with 24’ clear heights and 22% office buildout.

This 3.0 acre development land site was purchased in July 2007 and is located in San Antonio, Texas.

Details

Metro Area San Antonio BuildingType Industrial/Warehouse Ownership (%) 100 Zoning Industrial or Light Manufacturing Year Built 2007 Site Area(acres) 8.5 Lettable Area(‘000sf) 134.0 Site Coverage(%) 36 Number of Buildings 1 Number of Units 3 Average Unit Size(‘000sf) 45.0 Office Content(%) 23 Car ParkingSpaces 216 Acquisition Date Aug-2007 Acquisition Priceplus Additions(US$m) 9.08 Book Value(US$m) 7.6 Independent Valuation Date Jun-2009 Independent Valuation(US$m) 8.0 Market CapRate(%) 9.60 Average Net PassingRent(US$/sf) 6.68 Average Net Market Rent(US$/sf) 6.00 Initial Yield(%) 8.15 Discount Rate(%) 10.25 Major Tenant Twigland Fashions,Ltd. Leased ByArea(%) 72 Weighted Lease Term byIncome(years) 5.1 Available(%) 26 Year 2010(%) 0 Year 2011(%) 0 Year 2012(%) 40 Year 2013(%) 0 Year 2014(%) 0 Year 2015(%) 0 Year 2016(%) 0 Year 2017(%) 34 Year 2018(%) 0 Year 2019+(%) 0	Metro Area San Antonio BuildingType Industrial/Warehouse Ownership (%) 100 Zoning Industrial or Light Manufacturing Year Built 2006 Site Area(acres) 13.7 Lettable Area(‘000sf) 210.0 Site Coverage(%) 35 Number of Buildings 2 Number of Units 4 Average Unit Size(‘000sf) 52.0 Office Content(%) 22 Car ParkingSpaces 432 Acquisition Date Jul-2007 Acquisition Priceplus Additions(US$m) 13.69 Book Value(US$m) 12.0 Independent Valuation Date Jun-2009 Independent Valuation(US$m) 12.0 Market CapRate(%) 10.01 Average Net PassingRent(US$/sf) 6.68 Average Net Market Rent(US$/sf) 5.71 Initial Yield(%) 10.01 Discount Rate(%) 10.00 Major Tenant FidelityInformation Services Leased ByArea(%) 93 Weighted Lease Term byIncome(years) 4.3 Available(%) 6 Year 2010(%) 0 Year 2011(%) 15 Year 2012(%) 0 Year 2013(%) 44 Year 2014(%) 0 Year 2015(%) 0 Year 2016(%) 34 Year 2017(%) 0 Year 2018(%) 0 Year 2019+(%) 0	Metro Area San Antonio
		BuildingType Land
		Ownership (%) 97
		Co-Owner Santa Barbara Development Services
		Zoning -
		Year Built -
		Site Area(acres) 3.0
		Lettable Area(‘000sf) -
		Site Coverage(%) -
		Number of Buildings -
		Number of Units -
		Average Unit Size(‘000sf) -
		Office Content(%) -
		Car ParkingSpaces -
		Acquisition Date Jul-2007
		Acquisition Priceplus Additions(US$m) 0.79
		Book Value(US$m) 0.5
		Independent Valuation Date Jun-2009
		Independent Valuation(US$m) 0.5
		Market CapRate(%) -
		Average Net PassingRent(US$/sf) -
		Average Net Market Rent(US$/sf) -
		Initial Yield(%) -
		Discount Rate(%) -
		Major Tenant -
		Leased ByArea(%) -
		Weighted Lease Term byIncome(years) -
		Available(%) 0
		Year 2010(%) 0
		Year 2011(%) 0
		Year 2012(%) 0
		Year 2013(%) 0
		Year 2014(%) 0
		Year 2015(%) 0
		Year 2016(%) 0
		Year 2017(%) 0
		Year 2018(%) 0
		Year 2019+(%) 0

40 DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010

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8181 Interchange Parkway, San Antonio, Texas

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8191 Interchange Parkway, San Antonio, Texas

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Interchange North 1, 3003, 3005 NE I-410 Loop, San Antonio, Texas

This 3.0 acre development land site was purchased in July 2007 and is located in San Antonio, Texas.

This 2.3 acre development land site was purchased in July 2007 and is located in San Antonio, Texas.

This is an 88,875 square foot facility with eight dock high doors. The property is located at the interchange of Interstate 35 and 410. Design and construction is 100% complete.

Details

Details	Details	Details
Metro Area San Antonio BuildingType Land Ownership (%) 97 Co-Owner Santa Barbara Development Services Zoning - Year Built - Site Area(acres) 3.0 Lettable Area(‘000sf) - Site Coverage(%) - Number of Buildings - Number of Units - Average Unit Size(‘000sf) - Office Content(%) - Car ParkingSpaces - Acquisition Date Jul-2007 Acquisition Priceplus Additions(US$m) 0.94 Book Value(US$m) 0.5 Independent Valuation Date Jun-2009 Independent Valuation(US$m) 0.5 Market CapRate(%) - Average Net PassingRent(US$/sf) - Average Net Market Rent(US$/sf) - Initial Yield(%) - Discount Rate(%) - Major Tenant - Leased ByArea(%) - Weighted Lease Term byIncome(years) - Available(%) 0 Year 2010(%) 0 Year 2011(%) 0 Year 2012(%) 0 Year 2013(%) 0 Year 2014(%) 0 Year 2015(%) 0 Year 2016(%) 0 Year 2017(%) 0 Year 2018(%) 0 Year 2019+(%) 0	Metro Area San Antonio BuildingType Land Ownership (%) 97 Co-Owner Santa Barbara Development Services Zoning - Year Built - Site Area(acres) 2.3 Lettable Area(‘000sf) - Site Coverage(%) - Number of Buildings - Number of Units - Average Unit Size(‘000sf) - Office Content(%) - Car ParkingSpaces - Acquisition Date Jul-2007 Acquisition Priceplus Additions(US$m) 0.91 Book Value(US$m) 0.4 Independent Valuation Date Jun-2009 Independent Valuation(US$m) 0.4 Market CapRate(%) - Average Net PassingRent(US$/sf) - Average Net Market Rent(US$/sf) - Initial Yield(%) - Discount Rate(%) - Major Tenant - Leased ByArea(%) - Weighted Lease Term byIncome(years) - Available(%) 0 Year 2010(%) 0 Year 2011(%) 0 Year 2012(%) 0 Year 2013(%) 0 Year 2014(%) 0 Year 2015(%) 0 Year 2016(%) 0 Year 2017(%) 0 Year 2018(%) 0 Year 2019+(%) 0	Metro Area San Antonio
		BuildingType Industrial/Warehouse
		Ownership (%) 97
		Co-Owner Santa Barbara Development Services
		Zoning -
		Year Built 2008
		Site Area(acres) 5.6
		Lettable Area(‘000sf) 88.9
		Site Coverage(%) 36
		Number of Buildings 1
		Number of Units 1
		Average Unit Size(‘000sf) -
		Office Content(%) -
		Car ParkingSpaces -
		Acquisition Date Jul-2007
		Acquisition Priceplus Additions(US$m) 6.57
		Book Value(US$m) 2.5
		Independent Valuation Date Jun-2009
		Independent Valuation(US$m) 4.4
		Market CapRate(%) 10.92
		Average Net PassingRent(US$/sf) -
		Average Net Market Rent(US$/sf) 6.00
		Initial Yield(%) -
		Discount Rate(%) 9.25
		Major Tenant -
		Leased ByArea(%) 0
		Weighted Lease Term byIncome(years) 0
		Available(%) 100
		Year 2010(%) 0
		Year 2011(%) 0
		Year 2012(%) 0
		Year 2013(%) 0
		Year 2014(%) 0
		Year 2015(%) 0
		Year 2016(%) 0
		Year 2017(%) 0
		Year 2018(%) 0
		Year 2019+(%) 0

DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010

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Tri-County 2, Tri-County Parkway, Schertz, Texas

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Tri-County 5, Tri-County Parkway, Schertz, Texas

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Tri-County 6, Tri-County Parkway, Schertz, Texas

This 5.8 acre development land site was purchased in July 2007 and is located in Schertz, Texas.

This is a 35,700 square foot facility with six dock high doors and one grade level door. This property is located in the Tri-County Business Park adjacent to Interstate 35. Design and construction are 100% complete.

This is a 57,800 square foot facility with eight dock high doors and two grade level doors. This property is located in the Tri-County Business Park adjacent to Interstate 35. Design and construction are 100% complete.

Details

Metro Area San Antonio BuildingType Land Ownership (%) 97 Co-Owner Santa Barbara Development Services Zoning - Year Built - Site Area(acres) 5.8 Lettable Area(‘000sf) - Site Coverage(%) - Number of Buildings - Number of Units - Average Unit Size(‘000sf) - Office Content(%) - Car ParkingSpaces - Acquisition Date Jul-2007 Acquisition Priceplus Additions(US$m) 0.71 Book Value(US$m) 0.7 Independent Valuation Date Jun-2009 Independent Valuation(US$m) 0.8 Market CapRate(%) - Average Net PassingRent(US$/sf) - Average Net Market Rent(US$/sf) - Initial Yield(%) - Discount Rate(%) - Major Tenant - Leased ByArea(%) - Weighted Lease Term byIncome(years) - Available(%) 0 Year 2010(%) 0 Year 2011(%) 0 Year 2012(%) 0 Year 2013(%) 0 Year 2014(%) 0 Year 2015(%) 0 Year 2016(%) 0 Year 2017(%) 0 Year 2018(%) 0 Year 2019+(%) 0	Metro Area San Antonio BuildingType Industrial/Warehouse Ownership (%) 97 Co-Owner Santa Barbara Development Services Zoning - Year Built 2008 Site Area(acres) 2.9 Lettable Area(‘000sf) 35.7 Site Coverage(%) 28 Number of Buildings 1 Number of Units - Average Unit Size(‘000sf) - Office Content(%) - Car ParkingSpaces - Acquisition Date Jul-2007 Acquisition Priceplus Additions(US$m) 2.07 Book Value(US$m) 0.9 Independent Valuation Date Jun-2009 Independent Valuation(US$m) 2.0 Market CapRate(%) 9.99 Average Net PassingRent(US$/sf) - Average Net Market Rent(US$/sf) 6.00 Initial Yield(%) - Discount Rate(%) 9.25 Major Tenant - Leased ByArea(%) - Weighted Lease Term byIncome(years) - Available(%) 100 Year 2010(%) 0 Year 2011(%) 0 Year 2012(%) 0 Year 2013(%) 0 Year 2014(%) 0 Year 2015(%) 0 Year 2016(%) 0 Year 2017(%) 0 Year 2018(%) 0 Year 2019+(%) 0	Metro Area San Antonio
		BuildingType Industrial/Warehouse
		Ownership (%) 97
		Co-Owner Santa Barbara Development Services
		Zoning -
		Year Built 2008
		Site Area(acres) 4.1
		Lettable Area(‘000sf) 56.1
		Site Coverage(%) 31
		Number of Buildings -
		Number of Units 1
		Average Unit Size(‘000sf) -
		Office Content(%) -
		Car ParkingSpaces -
		Acquisition Date Jul-2007
		Acquisition Priceplus Additions(US$m) 2.99
		Book Value(US$m) 1.3
		Independent Valuation Date Jun-2009
		Independent Valuation(US$m) 3.0
		Market CapRate(%) -
		Average Net PassingRent(US$/sf) -
		Average Net Market Rent(US$/sf) -
		Initial Yield(%) -
		Discount Rate(%) -
		Major Tenant -
		Leased ByArea(%) -
		Weighted Lease Term byIncome(years) -
		Available(%) 100
		Year 2010(%) 0
		Year 2011(%) 0
		Year 2012(%) 0
		Year 2013(%) 0
		Year 2014(%) 0
		Year 2015(%) 0
		Year 2016(%) 0
		Year 2017(%) 0
		Year 2018(%) 0
		Year 2019+(%) 0

42 DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010

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850 North Lake Drive, Weatherford, Texas

300 & 405-444 Swann Avenue, 2402-2520 Oakville Street & 2412-2610 Jefferson Davis Highway, Alexandria, Virginia

Located just north of Beltline Road in the city of Coppell, Dallas County, Texas. It is accessible from Beltline Road and North Lake Drive. One, single-story concrete tilt-up, multi-tenant, warehouse/distribution building. Roof system is built-up tar.

Located in the I-395 Corridor submarket at the rear of Oakville Industrial Park along Route 1, approximately three miles south of Washington DC and one mile south of Ronald Reagan Airport. Five industrial, masonry and metal, multi-tenant, warehouse buildings.

Details

Details	Details
Metro Area Dallas BuildingType Distribution Center Ownership (%) 100 Zoning LI 1 - Light Industrial Year Built 1982 Site Area(acres) 11.4 Lettable Area(‘000sf) 230.0 Site Coverage(%) 46 Number of Buildings 1 Number of Units 2 Average Unit Size(‘000sf) 115.0 Office Content(%) 24 Car ParkingSpaces 213 Acquisition Date Sep-2004 Acquisition Priceplus Additions(US$m) 8.24 Book Value(US$m) 9.8 Independent Valuation Date Jun-2009 Independent Valuation(US$m) 8.5 Market CapRate(%) 9.79 Average Net PassingRent(US$/sf) 4.30 Average Net Market Rent(US$/sf) 4.00 Initial Yield(%) 9.79 Discount Rate(%) 9.25 Major Tenant Michaels Stores,Inc. Leased ByArea(%) 100 Weighted Lease Term byIncome(years) 6.4 Available(%) 0 Year 2010(%) 0 Year 2011(%) 0 Year 2012(%) 0 Year 2013(%) 0 Year 2014(%) 0 Year 2015(%) 0 Year 2016(%) 100 Year 2017(%) 0 Year 2018(%) 0 Year 2019+(%) 0	Metro Area Northern Virginia
	BuildingType Industrial Estate
	Ownership (%) 100
	Zoning I - Industrial
	Year Built 1946
	Site Area(acres) 11.2
	Lettable Area(‘000sf) 440.0
	Site Coverage(%) 91
	Number of Buildings 7
	Number of Units 31
	Average Unit Size(‘000sf) 14.0
	Office Content(%) 22
	Car ParkingSpaces 245
	Acquisition Date Sep-2004
	Acquisition Priceplus Additions(US$m) 38.55
	Book Value(US$m) 38.7
	Independent Valuation Date Jun-2009
	Independent Valuation(US$m) 39.4
	Market CapRate(%) 10.10
	Average Net PassingRent(US$/sf) 6.17
	Average Net Market Rent(US$/sf) 6.38
	Initial Yield(%) 8.52
	Discount Rate(%) 9.50
	Major Tenant Lettercom Inc.
	Leased ByArea(%) 84
	Weighted Lease Term byIncome(years) 4.0
	Available(%) 17
	Year 2010(%) 7
	Year 2011(%) 18
	Year 2012(%) 14
	Year 2013(%) 5
	Year 2014(%) 4
	Year 2015(%) 19
	Year 2016(%) 0
	Year 2017(%) 2
	Year 2018(%) 14
	Year 2019+(%) 0

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326-446 Calvert Avenue & 401-403 Murry’s Avenue, Alexandria, Virginia

Located in the I-395 Corridor submarket at the rear of Oakville Industrial Park along Route 1, approximately three miles south of Washington DC and one mile south of Ronald Reagan Airport. Three masonry and metal, multi-tenant, warehouse buildings. Roof systems are built-up tar.

Details

Details
Metro Area		Northern Virginia
BuildingType		Industrial Estate
Ownership (%)			100
Zoning			I - Industrial
Year Built			1940
Site Area(acres)			2.2
Lettable Area(‘000sf)			49.0
Site Coverage(%)			50
Number of Buildings			3
Number of Units			10
Average Unit Size(‘000sf)			5.0
Office Content(%)			25
Car ParkingSpaces			43
Acquisition Date			Sep-2004
Acquisition Priceplus Additions(US$m)			4.66
Book Value(US$m)			3.6
Independent Valuation Date			Jun-2009
Independent Valuation(US$m)			3.9
Market CapRate(%)			10.30
Average Net PassingRent(US$/sf)			10.44
Average Net Market Rent(US$/sf)			9.77
Initial Yield(%)			10.30
Discount Rate(%)			9.50
Major Tenant	United	Refrigeration,Inc.
Leased ByArea(%)			89
Weighted Lease Term byIncome(years)			4.6
Available(%)			10
Year 2010(%)			12
Year 2011(%)			7
Year 2012(%)			0
Year 2013(%)			0
Year 2014(%)			47
Year 2015(%)			10
Year 2016(%)			0
Year 2017(%)			0
Year 2018(%)			0
Year 2019+(%)			14

DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010 43

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44633-44645 Guilford Road & 21641 Beaumeade Circle, Ashburn, Virginia

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CTC at Dulles, 13555 EDS Drive, Herndon, Virginia

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Atlantic Corporate Park, 45600 & 45610 Woodland Road, Sterling, Virginia

The buildings are located on Beaumeade Circle in the Beaumeade Corporate Park located just off Waxpool Road in Ashburn, approximately six miles north of the Dulles International Airport and approximately 30 miles west of Washington DC. The property is readily accessible from State Road 28 via public roadways.

The property is located just east of the Washington-Dulles International Airport. It is proximate to Sully Road at the intersection of McLearen Road and EDS Drive. One-story concrete tilt-up, single tenant, office building. Roof system is membrane/EPDM.

The property consists of two, four-story Class A suburban office buildings with a total of 210,000 square feet and 880 parking spaces. It is located 1.5 miles south of Dulles Town Center and 5.7 miles from Washington Dulles International Airport. Construction was completed in August 2008.

Details

Metro Area Northern Virginia BuildingType Business Park Ownership (%) 100 Zoning PD - IP,Loudon County Year Built 1987 Site Area(acres) 13.7 Lettable Area(‘000sf) 177.0 Site Coverage(%) 30 Number of Buildings 3 Number of Units 16 Average Unit Size(‘000sf) 11.0 Office Content(%) 31 Car ParkingSpaces 324 Acquisition Date Sep-2004 Acquisition Priceplus Additions(US$m) 14.99 Book Value(US$m) 12.6 Independent Valuation Date Jun-2009 Independent Valuation(US$m) 11.1 Market CapRate(%) 10.59 Average Net PassingRent(US$/sf) 10.00 Average Net Market Rent(US$/sf) 8.45 Initial Yield(%) 8.68 Discount Rate(%) 10.00 Major Tenant Prototype Productions,Inc. Leased ByArea(%) 73 Weighted Lease Term byIncome(years) 2.1 Available(%) 24 Year 2010(%) 17 Year 2011(%) 27 Year 2012(%) 11 Year 2013(%) 4 Year 2014(%) 7 Year 2015(%) 10 Year 2016(%) 0 Year 2017(%) 0 Year 2018(%) 0 Year 2019+(%) 0	Metro Area Northern Virginia BuildingType Business Park Ownership (%) 100 Zoning - Year Built 2001 Site Area(acres) 8.5 Lettable Area(‘000sf) 104.0 Site Coverage(%) 28 Number of Buildings 1 Number of Units 1 Average Unit Size(‘000sf) 104.0 Office Content(%) 100 Car ParkingSpaces 438 Acquisition Date Sep-2004 Acquisition Priceplus Additions(US$m) 20.98 Book Value(US$m) 19.3 Independent Valuation Date Jun-2009 Independent Valuation(US$m) 24.0 Market CapRate(%) 9.78 Average Net PassingRent(US$/sf) 17.81 Average Net Market Rent(US$/sf) 18.00 Initial Yield(%) 9.78 Discount Rate(%) 9.25 Major Tenant US Government Leased ByArea(%) 100 Weighted Lease Term byIncome(years) 3.9 Available(%) 0 Year 2010(%) 0 Year 2011(%) 0 Year 2012(%) 0 Year 2013(%) 100 Year 2014(%) 0 Year 2015(%) 0 Year 2016(%) 0 Year 2017(%) 0 Year 2018(%) 0 Year 2019+(%) 0	Metro Area Northern Virginia
		BuildingType Office Park
		Ownership (%) 100
		Zoning PD-CC
		Year Built 2008
		Site Area(acres) 14.0
		Lettable Area(‘000sf) 210.0
		Site Coverage(%) 34
		Number of Buildings 2
		Number of Units 8
		Average Unit Size(‘000sf) 26.0
		Office Content(%) 100
		Car ParkingSpaces 880
		Acquisition Date Jun-2006
		Acquisition Priceplus Additions(US$m) 33.49
		Book Value(US$m) 15.6
		Independent Valuation Date Jun-2009
		Independent Valuation(US$m) 15.2
		Market CapRate(%) -
		Average Net PassingRent(US$/sf) -
		Average Net Market Rent(US$/sf) -
		Initial Yield(%) -
		Discount Rate(%) -
		Major Tenant -
		Leased ByArea(%) -
		Weighted Lease Term byIncome(years) -
		Available(%) 0
		Year 2010(%) 0
		Year 2011(%) 0
		Year 2012(%) 0
		Year 2013(%) 0
		Year 2014(%) 0
		Year 2015(%) 0
		Year 2016(%) 0
		Year 2017(%) 0
		Year 2018(%) 0
		Year 2019+(%) 0

44 DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010

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Kent West Corporate Park, 21902 64th Avenue S, Kent, Washington

Riverbend Commerce Park, 8005 South 266th Street, Kent, Washington

Kent West Corporate Park is located along the west side of the West Valley Highway (68th Avenue South), one half mile south of S. 212th Street. The property has excellent frontage on West Valley Highway, with easy access to Interstate 5 and Highway 167.

Riverbend Commerce Park is located approximately two miles east of SR167 and south of S. 259th Street and Green River Road. One-story concrete tilt-up, multi-tenant, warehouse building. Roof system is built-up tar.

Details

Details	Details
Metro Area Seattle BuildingType Industrial Estate Ownership (%) 100 Zoning M-1 Industrial Park District Year Built 1989 Site Area(acres) 19.6 Lettable Area(‘000sf) 403.0 Site Coverage(%) 47 Number of Buildings 5 Number of Units 11 Average Unit Size(‘000sf) 37.0 Office Content(%) 15 Car ParkingSpaces 331 Acquisition Date Sep-2004 Acquisition Priceplus Additions(US$m) 24.46 Book Value(US$m) 22.8 Independent Valuation Date Jun-2009 Independent Valuation(US$m) 24.0 Market CapRate(%) 8.51 Average Net PassingRent(US$/sf) 4.89 Average Net Market Rent(US$/sf) 5.27 Initial Yield(%) 6.79 Discount Rate(%) 9.25 Major Tenant Graebel/QualityMovers,Inc. Leased ByArea(%) 88 Weighted Lease Term byIncome(years) 2.1 Available(%) 13 Year 2010(%) 23 Year 2011(%) 19 Year 2012(%) 14 Year 2013(%) 28 Year 2014(%) 3 Year 2015(%) 0 Year 2016(%) 0 Year 2017(%) 0 Year 2018(%) 0 Year 2019+(%) 0	Metro Area Seattle
	BuildingType Distribution Center
	Ownership (%) 100
	Zoning M-1 Industrial Park District
	Year Built 2000
	Site Area(acres) 12.2
	Lettable Area(‘000sf) 92.0
	Site Coverage(%) 17
	Number of Buildings 1
	Number of Units 1
	Average Unit Size(‘000sf) 92.0
	Office Content(%) 11
	Car ParkingSpaces 97.02
	Acquisition Date Sep-2004
	Acquisition Priceplus Additions(US$m) 5.88
	Book Value(US$m) 5.9
	Independent Valuation Date Jun-2009
	Independent Valuation(US$m) 6.5
	Market CapRate(%) 10.58
	Average Net PassingRent(US$/sf) 7.02
	Average Net Market Rent(US$/sf) 5.04
	Initial Yield(%) 10.58
	Discount Rate(%) 8.50
	Major Tenant Domino’s Pizza,LLC
	Leased ByArea(%) 100
	Weighted Lease Term byIncome(years) 3.0
	Available(%) 0
	Year 2010(%) 0
	Year 2011(%) 10
	Year 2012(%) 49
	Year 2013(%) 30
	Year 2014(%) 10
	Year 2015(%) 0
	Year 2016(%) 0
	Year 2017(%) 0
	Year 2018(%) 0
	Year 2019+(%) 0

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Riverbend Commerce Park, 26507 79th Avenue South, Kent, Washington

Riverbend Commerce Park is located approximately two miles east of SR167 and south of S. 259th Street and Green River Road. One-story concrete tilt-up, multi-tenant, flex building. Roof system is built-up tar.

Details

Details
Metro Area		Seattle
BuildingType		Business Park
Ownership (%)		100
Zoning	M-1 Industrial Park District
Year Built		2000
Site Area(acres)		2.6
Lettable Area(‘000sf)		36.0
Site Coverage(%)		32
Number of Buildings		1
Number of Units		1
Average Unit Size(‘000sf)		36.0
Office Content(%)		16
Car ParkingSpaces		34
Acquisition Date		Sep-2004
Acquisition Priceplus Additions(US$m)		2.23
Book Value(US$m)		2.2
Independent Valuation Date		Jun-2009
Independent Valuation(US$m)		2.8
Market CapRate(%)		10.02
Average Net PassingRent(US$/sf)		6.60
Average Net Market Rent(US$/sf)		5.04
Initial Yield(%)		10.02
Discount Rate(%)		8.50
Major Tenant Northern Sales		Company,Inc.
Leased ByArea(%)		100
Weighted Lease Term byIncome(years)		2.6
Available(%)		0
Year 2010(%)		0
Year 2011(%)		0
Year 2012(%)		60
Year 2013(%)		40
Year 2014(%)		0
Year 2015(%)		0
Year 2016(%)		0
Year 2017(%)		0
Year 2018(%)		0
Year 2019+(%)		0

DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010 45

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19700 38th Avenue East, Spanaway, Washington

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8574 Boston Church Road, Milton, Ontario

A one-story building constructed with a structural steel frame and pre-cast concrete. The building has a 32’ clear height, two drive-in doors, 70 dock-high doors and 218 trailer parking stalls. The facility is served by a new enclosed railroad spur that is connected to the Tacoma rail line.

Single 754,704 square foot building with 32’ clear heights and 2% office buildout.

Details

Metro Area Seattle BuildingType Distribution Center Ownership (%) 100 Zoning EC(Employee Center) Year Built 2009 Site Area(acres) 55.8 Lettable Area(‘000sf) 891.6 Site Coverage(%) 37 Number of Buildings 1 Number of Units 1 Average Unit Size(‘000sf) 892.0 Office Content(%) 1 Car ParkingSpaces 103 Acquisition Date Oct-2009 Acquisition Priceplus Additions(US$m) 62.04 Book Value(US$m) 54.4 Independent Valuation Date - Independent Valuation(US$m) - Market CapRate(%) 7.94 Average Net PassingRent(US$/sf) 4.86 Average Net Market Rent(US$/sf) 3.84 Initial Yield(%) 7.94 Discount Rate(%) 8.25 Major Tenant Whirlpool Corporation Leased ByArea(%) 100 Weighted Lease Term byIncome(years) 9.8 Available(%) 0 Year 2010(%) 0 Year 2011(%) 0 Year 2012(%) 0 Year 2013(%) 0 Year 2014(%) 0 Year 2015(%) 0 Year 2016(%) 0 Year 2017(%) 0 Year 2018(%) 0 Year 2019+(%) 100	Metro Area Toronto
	BuildingType Industrial/Warehouse
	Ownership (%) 100
	Zoning M-1 Industrial/Employment
	Year Built 2007
	Site Area(acres) 45.0
	Lettable Area(‘000sf) 755.0
	Site Coverage(%) 39
	Number of Buildings 1
	Number of Units 1
	Average Unit Size(‘000sf) 755.0
	Office Content(%) 2
	Car ParkingSpaces 86
	Acquisition Date Dec-2007
	Acquisition Priceplus Additions(CAD$) 72.89
	Book Value(CAD$m) 51.5
	Independent Valuation Date Dec-2009
	Independent Valuation(CAD$m) 51.5
	Market CapRate(%) 9.25
	Average Net PassingRent(CAD$/sf) 6.05
	Average Net Market Rent(CAD$/sf) 5.00
	Initial Yield(%) 9.09
	Discount Rate(%) 9.50
	Major Tenant Whirlpool Corporation
	Leased ByArea(%) 100
	Weighted Lease Term byIncome(years) 8.0
	Available(%) 0
	Year 2010(%) 0
	Year 2011(%) 0
	Year 2012(%) 0
	Year 2013(%) 0
	Year 2014(%) 0
	Year 2015(%) 0
	Year 2016(%) 0
	Year 2017(%) 0
	Year 2018(%) 100
	Year 2019+(%) 0

46 DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010

InDEX

844 44th Avenue, Phoenix, Arizona .......................................................................14 431 North 47th Avenue, Phoenix, Arizona ..............................................................14 220 South 9th Street, Phoenix, Arizona ..................................................................14 1429-1439 South 40th Avenue, Phoenix, Arizona ..................................................15 105-107 South 41st Avenue, Phoenix, Arizona .......................................................15 601 South 55th Avenue, Phoenix, Arizona .............................................................15 1000 South Priest Drive, Phoenix, Arizona .............................................................16 1120-1150 West Alameda Drive, Tempe, Arizona ...................................................16 10397 West Van Buren Street, Tolleson, Arizona ....................................................16 14555 Alondra Boulevard, La Mirada & 6530 Altura Boulevard, Buena Park, California ...........................................................................................17 13602 12th Street, Chino, California ......................................................................17 14489 Industry Circle, La Mirada, California ...........................................................17 3550 Tyburn Street & 3332–3424 N San Fernando Road, Los Angeles, California ..18 3590 De Forest Circle, Mira Loma, California .........................................................18 1450 E Francis Street, 4200 Santa Ana Street, 1951 S Parco Street, 1401 E Cedar Street, 1777 S Vintage Avenue, Ontario, California ...........................18 4190 Santa Ana Street, Ontario, California .............................................................19 3691 North Perris Boulevard, Perris, California ......................................................19 12000 Jersey Court, Rancho Cucamonga, California ..............................................19 11653 6th Street, 9545 Santa Anita Avenue, 9357 Richmond Place, & 9371 Buffalo Avenue, Rancho Cucamonga, California ........................................20 7510-7520 Airway Road, San Diego, California ......................................................20 Summit Oaks, Vanderbilt Way, Santa Clarita, California ...........................................20 9210 San Fernando Road, Sun Valley, California ....................................................21 7500 Exchange Drive, Orlando, Florida ..................................................................21 Orlando Central Park, 7600 Kingspointe Parkway, 8259 Exchange Drive, 7451-7488 Brokerage Drive, 2900-2901 Titan Row, Orlando, Florida .....................21 13201 South Orange Avenue, Orlando, Florida .......................................................22 1000-1200 Williams Street NW, Atlanta, Georgia ....................................................22 300 Townpark Drive, Kennesaw, Georgia ................................................................22 195 King Mill Road, McDonough, Georgia ..............................................................23 1825 Airport Exchange Boulevard, Erlanger, Kentucky ...........................................23 3368-3372 Turfway Road, Erlanger, Kentucky ........................................................23 7453 Empire Drive, Florence, Kentucky .................................................................24 7930 & 7940 Kentucky Drive, Florence, Kentucky .................................................24 5-11 Spiral Drive, Florence, Kentucky ....................................................................24 1910 International Way, Hebron, Kentucky.............................................................25 Fort Holabird Industrial, 1811 & 1831 Portal Street, & 6615 Tributary Street, Baltimore, Maryland ...............................................................................................25 9112 Guilford Road, Columbia, Maryland ...............................................................25 8350 & 8351 Bristol Court, Jessup, Maryland ........................................................26 MD Wholesale Food Market, 7951 Ocean Avenue & 7970 Tarbay Drive, Jessup, Maryland ...................................................................................................26 8306 Patuxent Range Road & 8332 Bristol Court, Jessup, Maryland......................26 8155 Stayton Drive, Jessup, Maryland ...................................................................27 1015 & 1025 West Nursery Road, Linthicum Heights, Maryland ............................27 Cabot Techs, 989-991 Corporate Boulevard, Linthicum Heights, Maryland .............27 NE Baltimore, 21 & 23 Fontana Lane, Rosedale, Maryland ....................................28 Braemar Ridge, 7500 West 78th Street, Bloomington, Minnesota ...........................28 Brooklyn Park Interstate Center, 7700 68th Avenue, Brooklyn Park, Minnesota ......28 Eagandale Business Campus, 1285 & 1301 Corporate Center Drive, 1230 & 1270 Eagan Industrial Road, Eagan, Minnesota .........................................29 6105 Trenton Lane North, Minneapolis, Minnesota ................................................29 8575 Monticello Lane, Osseo, Minnesota ...............................................................29 2950 Lexington Avenue South, St Paul, Minnesota .................................................30 2222-2298 Wooddale Drive, St Paul, Minnesota .....................................................30

9900 Brookford Street, Charlotte, North Carolina ....................................................30 3520-3600 Westinghouse Boulevard, Charlotte, North Carolina ..............................31 World Park, 9756 & 9842 International Boulevard, Cincinnati, Ohio .......................31 10013-11093 Kenwood Road, Cincinnati, Ohio ......................................................31 6241 Shook Road, Lockbourne, Columbus, Ohio ..................................................32 4343 & 4401 Equity Drive, 1614-1634 & 1999 Westbelt Drive & 1901-1919 Dividend Drive, Columbus, Ohio .............................................................................32 2700 International Street, Columbus, Ohio .............................................................32 SE Columbus, 2550 John Glenn Avenue & 2626 Port Road, Columbus, Ohio.........33 124 Commerce Boulevard, Loveland, Ohio .............................................................33 6350 & 6360 Brackbill Boulevard, Mechanicsburg, Pennsylvania ..........................33 912 113th Street & 2300 East Randoll Mill Road, Arlington, Texas .........................34 555 Airline Drive, Coppell, Texas ............................................................................34 1900 Diplomat Drive, Dallas, Texas ........................................................................34 2055 Diplomat Drive, Dallas, Texas ........................................................................35 11411, 11460-11480 & 11550-11560 Hillguard Road, Dallas, Texas .....................35 CTC at Valwood, 13755 Hutton Drive, Dallas, Texas ...............................................35 11011 Regency Crest Drive, Garland, Texas ...........................................................36 Garland Jupiter, Garland, Texas ..............................................................................36 Plano Parkway, Plano, Texas ..................................................................................36 1800-1808 10th Street, Plano, Texas .....................................................................37 820-860 F Avenue, Plano, Texas ............................................................................37 1600-1700 Capital Avenue, Plano, Texas ...............................................................37 3601 East Plano Parkway & 1000 Shiloh Road, Plano, Texas .................................38 2701, 2801, 2805 East Plano Parkway & 2700 Summit Avenue, Plano, Texas .......38 885 East Collins Boulevard, Richardson, Texas ......................................................38 Cornerstone Building, 5411 I-10 East & 1228 Cornerway Boulevard, San Antonio, Texas ................................................................................................39 302-402 N Tayman Road, San Antonio, Texas .......................................................39 202 S Tayman Road, San Antonio, Texas ...............................................................39 1803 Grandstand Drive, San Antonio, Texas ...........................................................40 8151-8161 Interchange Parkway, San Antonio, Texas ............................................40 8171 Interchange Parkway, San Antonio, Texas .....................................................40 8181 Interchange Parkway, San Antonio, Texas .....................................................41 8191 Interchange Parkway, San Antonio, Texas .....................................................41 Interchange North 1, 3003, 3005 NE I-410 Loop, San Antonio, Texas ....................41 Tri-County 2, Tri-County Parkway, Schertz, Texas ....................................................42 Tri-County 5, Tri-County Parkway, Schertz, Texas ....................................................42 Tri-County 6, Tri-County Parkway, Schertz, Texas ....................................................42 850 North Lake Drive, Weatherford, Texas .............................................................43 300 & 405-444 Swann Avenue, 2402-2520 Oakville Street & 2412-2610 Jefferson Davis Highway, Alexandria, Virginia ...................................43 326-446 Calvert Avenue & 401-403 Murry’s Avenue, Alexandria, Virginia ...............43 44633-44645 Guilford Road & 21641 Beaumeade Circle, Ashburn, Virginia ..........44 CTC at Dulles, 13555 EDS Drive, Herndon, Virginia ...............................................44 Atlantic Corporate Park, 45600 & 45610 Woodland Road, Sterling, Virginia ...........44 Kent West Corporate Park, 21902 64th Avenue S, Kent, Washington ......................45 Riverbend Commerce Park, 8005 South 266th Street, Kent, Washington ...............45 Riverbend Commerce Park, 26507 79th Avenue South, Kent, Washington .............45 19700 38th Avenue East, Spanaway, Washington ...................................................46 8574 Boston Church Road, Milton, Ontario ............................................................46

DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010 47

DeXUS United States

4200 Van Karman Avenue Newport Beach CA 92660 Phone: +1 949 724 8886 Fax: +1 949 724 8887 Website: www.dexus.com/us

DeXUS Australia

Level 9, 343 George Street Sydney NSW 2000

Phone: +61 2 9017 1100 Fax: +61 2 9017 1101 Email: [email protected] Website: www.dexus.com

Australian Stock exchange ASX Code: DXS

48 DEXUS ProPErty GroUP US PROPERTY SYNOPSIS 2010

About DeXUS

DEXUS is one of the world’s leading real estate groups with over $11 billion of assets under management. DEXUS specializes in owning, managing and developing high quality office and industrial real estate, primarily in the United States and Australia. In the United States and Canada, DEXUS owns 98 industrial properties, totaling more than 25.7 million square feet in 17 industrial and logistics markets.

We are committed to the long-term integration of Corporate Responsibility & Sustainability (CR&S) practices throughout our business and strive to be a market leader in this important area. In the United States, we have actively designed and developed sustainable buildings in conjunction with the Leadership in Energy and Environmental Design (LEED) Green Building Rating System, such as Whirlpool Atlanta and Seattle (Gold), Summit Oaks (Silver) and Whirlpool Columbus (Certified).

www.dexus.com/us

www.dexus.com/us

AI assistant

DEXUS — Management Reports 2010

64807_rns_2010-06-01_cc04c929-a081-442c-b59f-8d50aa2b6b4f.pdf

2 June 2010

DEXUS Property Group (ASX:DXS) 2010 US Property Synopsis

About DEXUS

IntroDUctIon

DEXUS ProPErty GroUP

WESt coaSt ProPErtIES

WhIrlPool ProPErtIES

cEntral – EaSt coaSt ProPErtIES

cEntral – EaSt coaSt ProPErtIES

cEntral – EaSt coaSt ProPErtIES

cEntral – EaSt coaSt ProPErtIES

notes:

US PortfolIo

Cincinnati

Columbus

Toronto

Baltimore

844 44th Avenue, Phoenix, Arizona

220 South 9th Street, Phoenix, Arizona

Details

Details

Details

1429-1439 South 40th Avenue, Phoenix, Arizona

105-107 South 41st Avenue, Phoenix, Arizona

Details

Details

Details

1000 South Priest Drive, Phoenix, Arizona

1120-1150 West Alameda Drive, Tempe, Arizona

10397 West Van Buren Street, Tolleson, Arizona

Details

Details

Details

14555 Alondra Boulevard, La Mirada & 6530 Altura Boulevard, Buena Park, California

Details

Details

14489 Industry Circle, La Mirada, California

Details

US PortfolIo

3550 Tyburn Street & 3332–3424 N.San Fernando Road, Los Angeles, California

Details

3590 De Forest Circle, Mira Loma, California

Details

Details

4190 Santa Ana Street, Ontario, California

3691 North Perris Boulevard, Perris, California

Details

Details

Details

US PortfolIo

Summit Oaks, Vanderbilt Way, Santa Clarita, California

Details

Details

Details

Details

Details

Details

13201 South Orange Avenue, Orlando, Florida

1000-1200 Williams Street NW, Atlanta, Georgia

300 Townpark Drive, Kennesaw, Georgia

Details

Details

Details

Details

Details

3368-3372 Turfway Road, Erlanger, Kentucky

Details

7453 Empire Drive, Florence, Kentucky

7930 & 7940 Kentucky Drive, Florence, Kentucky

5-11 Spiral Drive, Florence, Kentucky

Details

Details

Details

1910 International Way, Hebron, Kentucky

Details

Details

9112 Guilford Road, Columbia, Maryland

DEXUS Management Reports 2010