Portland Industrial Market Overview_Q1 2021

MARKET KNOWLEDGE

PORTLAND AREA INDUSTRIAL SALE COMPARABLES Q4 2020

BYBEE LAKE LOGISTICS CTR I & II YEAR BUILT 2007 SALE DATE 02/2020 BUYER PCCP LLC SELLER Washington Capital Management SUBMARKET Rivergate RBA 729,175 PRICE/SF $113.14 CAP RATE - COMMENTS Two buildings - 438,750 SF and 290,425 SF. Ground lease.

PURDY WORLD HQ YEAR BUILT 1980 SALE DATE 9/2020 BUYER DRA SELLER Oregon Transfer SUBMARKET Rivergate RBA 95,458 PRICE/SF $125.71 CAP RATE 4.7% COMMENTS 100% leased.

Vancouver

Rivergate

595 WILSONVILLE BUSINESS CENTER YEAR BUILT 1997 SALE DATE 11/29/18

VANCOUVER COMMERCE PARK YEAR BUILT 1990 SALE DATE 12/1/2020 BUYER Harsch SELLER Private SUBMARKET Vancouver RBA 82,235 SF PRICE/SF $133.00 CAP RATE 5.5% COMMENTS 3 building portfolio. 100% leased by 3 tenants. YEAR BUILT 2020 SALE DATE 10/2020 BUYER Exeter SELLER Panattoni SUBMARKET Vancouver RBA 117,415 SF PRICE/SF $147.00 CAP RATE 5.2% COMMENTS Off market deal. RIDGEFIELD COMMERCE CENTER

Northwest

BUYER Harsch SELLER Private SUBMARKET Wilsonville RBA 114,250 SF

PRICE/SF $128.67 CAP RATE 5.26%

KINSMAN LOGISTICS CENTER YEAR BUILT 2006 SALE DATE 10/2018 BUYER Dermody Properties SELLER Private SUBMARKET Wilsonville RBA 108,698 SF PRICE/SF $136.00 CAP RATE 5.2% COMMENTS 100% occupied. Single-tenant industrial building: 20% office buildout, 20,000 SF of stacked office. STAFFORD DISTRIBUTION CENTER YEAR BUILT 1989 SALE DATE 1/8/2018 COMMENTS 100% occupied. Two-building, multi-tenant portfolio, 18% office buildout. RBA 249,000 SF PRICE/SF $113.25 CAP RATE 5.0% COMMENTS 98% occupied. Four building distribution center. Larger suite sizes. WILSONVILLE CORPORATE CENTER YEAR BUILT 1995 SALE DATE 7/12/2017 BUYER DDG/Goodmans SELLER Specht Properties SUBMARKET Wilsonville

3601 NW YEON YEAR BUILT 2000 SALE DATE 9/1/18

BUYER Prologis SELLER Private SUBMARKET Northwest RBA 205,177 SF PRICE/SF $126.00 CAP RATE 5.4% COMMENTS Off market deal.

PORTSIDE INDUSTRIAL PARK

YEAR BUILT 2020 SALE DATE 6/2020 BUYER Nuna Baby

Tualatin/ Wilsonville

SELLER Everwest/Specht SUBMARKET Vancouver RBA 289,737 SF PRICE/SF $127.40 CAP RATE 5.1% COMMENTS $127.40 SF is on warm shell – lighting and insula- tion – Tenant to build out office

MILL CREEK LOGISTICS YEAR BUILT 2018 SALE DATE 7/2019 BUYER PNC

BUYER Ivanhoe Cambridge SELLER Evergreen Industrial SUBMARKET Wilsonville

SELLER Capstone SUBMARKET Salem RBA 1,018,020 SF PRICE/SF $104 CAP RATE 5.08% COMMENTS 36’ clear. Leased to Amazon.

RBA 202,000 SF PRICE/SF $132.19 CAP RATE 5.0% COMMENTS 100% occupied. Part of a portfolio sale.

22 PORTLAND INDUSTRIAL MARKET OVERVIEW / Q1 2021