Modesto Commercial Real Estate Average Rents in Area

	Average Rents for Industrial, Office, Retail and Medical Office Space in the Modesto/Stanislaus County Area** (Nota bene: because of the way the information is collected, there is some double counting between categories - e.g., some office may also be listed as medical office, some retail could also be listed as office, some industrial could be listed as retail. Rather than attempting to delete all the double counting, it is left in because it reflects the fact that some spaces may qualify in different categories.)
	Offered on	Total Square Feet	Average Price Per Square Foot	Average Size - Square Feet	Number of Spaces
Industrial December 2009	Gross lease basis	640,955	$0.52	4,930	130
	Industrial gross lease basis	27,346	$0.65	3,418	8
	Modified gross lease basis	18,815	$0.54	2,091	9
	Net lease basis	1,342,363	$0.45	55,932	24
	Total	2,029,479			171
Medical Office December 2009	Full service lease basis	1,600	$1.10	800	2
	Gross lease basis	30,080	$1.43	2,735	11
	Net lease basis	27,256	$1.61	3,407	8
	Total	58,936			25
Office December 2009	Full service lease basis	32,306	$1.67	950	34
	Gross lease basis	290,220	$1.13	2,182	133
	Modified gross lease basis	139,116	$1.19	1,932	72
	Net lease basis	271,878	$1.28	3,757	58
	Total	679,520			297
Retail December 2009	Gross lease basis	153,311	$0.98	3,650	42
	Modified gross lease basis	11,134	$1.44	1,856	6
	Net lease basis	318,909	$1.40	3,842	83
	Total	483,354			131
Industrial August 2009	Gross lease basis	673,455	$0.55	4,952	136
	Industrial gross lease basis	26,540	$0.61	3,318	8
	Modified gross lease basis	22,889	$0.60	2,081	11
	Net lease basis	1,340,663	$0.45	58,290	23
	Total	2,063,547			178
Medical Office August 2009	Full service lease basis	1,770	$1.73	590	3
	Gross lease basis	27,194	$1.48	3,022	9
	Net lease basis	36,970	$1.58	2,844	13
	Total	65,934			25
Office August 2009	Full service lease basis	25,856	$1.76	718	36
	Gross lease basis	234,102	$1.16	1,967	119
	Modified gross lease basis	142,096	$1.15	2,255	63
	Net lease basis	239,171	$1.38	3,322	72
	Total	641,225			290
Retail August 2009	Gross lease basis	154,198	$1.00	3,427	45
	Modified gross lease basis	11,134	$1.44	1,856	6
	Net lease basis	326,681	$1.44	3,984	82
	Total	492,013			133
Industrial July 2009	Gross lease basis	627,098	$0.56	4,715	133
	Industrial gross lease basis	26,540	$0.61	3,318	8
	Modified gross lease basis	20,289	$0.59	1,844	11
	Net lease basis	1,133,913	$0.46	53,996	21
	Total	1,807,840			173
Medical Office July 2009	Full service lease basis	1,770	$1.73	590	3
	Gross lease basis	27,194	$1.48	3,022	9
	Net lease basis	36,970	$1.58	2,844	13
	Total	65,934			25
Office July 2009	Full service lease basis	24,886	$1.58	803	31
	Gross lease basis	233,535	$1.15	1,996	117
	Modified gross lease basis	131,904	$1.13	2,198	60
	Net lease basis	259,341	$1.36	3,458	75
	Total	649,666			283
Retail July 2009	Gross lease basis	155,498	$.99	3,380	46
	Modified gross lease basis	11,134	$1.44	1,856	6
	Net lease basis	331,201	$1.44	4,039	82
	Total	497,833			134
Industrial April 2009	Gross lease basis	655,820	$0.56	4,940	133
	Industrial gross lease basis	26,540	$0.61	3,318	8
	Modified gross lease basis	23,715	$0.63	2,156	11
	Net lease basis	526,681	$0.48	32,918	16
	Total	1,232,756			168
Medical Office April 2009	Full service lease basis	1,770	$1.73	590	3
	Gross lease basis	12,051	$1.46	3,013	4
	Net lease basis	24,485	$1.51	3,061	8
	Total	38,306			15
Office April 2009	Full service lease basis	28,655	$1.58	843	34
	Gross lease basis	212,244	$1.16	1,830	116
	Modified gross lease basis	131,490	$1.14	2,156	61
	Net lease basis	194,298	$1.36	2,699	72
	Total	566,687			283
Retail April 2009	Gross lease basis	157,208	$1.09	3,275	48
	Modified gross lease basis	11,134	$1.44	1,856	6
	Net lease basis	331,375	$1.43	4,041	82
	Total	499,717			136
Industrial March 2009	Gross lease basis	671,795	$0.52	4,940	136
	Industrial gross lease basis	26,540	$0.61	3,318	8
	Modified gross lease basis	24,715	$0.63	2,156	11
	Net lease basis	533,431	$0.47	31,378	17
	Total	1,255,481			172
Medical Office March 2009	Full service lease basis	1,770	$1.73	590	3
	Gross lease basis	12,051	$1.46	3,013	4
	Net lease basis	24,485	$1.51	3,061	8
	Total	38,306			15
Office March 2009	Full service lease basis	30,347	$1.56	920	33
	Gross lease basis	206,025	$1.17	1,807	114
	Modified gross lease basis	122,897	$1.12	2,119	58
	Net lease basis	199,698	$1.36	2,736	73
	Total	558,967			278
Retail March 2009	Gross lease basis	158,168	$1.08	3,365	47
	Modified gross lease basis	11,134	$1.44	1,856	6
	Net lease basis	332,875	$1.44	4,011	83
	Total	502,177			136

**The information for this table is from the leasing inventory compiled by Way and Associates, Real Estate Appraisers, from information supplied by the agents and brokers in the area. This information is not a 100% sample but is a reasonable representation of the market. This information is deemed reliable but is not guaranteed. It should be noted that there is some double counting in the categories. For example, some of the spaces may be listed as both retail and office or industrial as well as retail.
Tony Suleiman 209-758-3467 tsuleiman@prucommercialre.com		Dave Tanner 209-758-3108 dtanner@prucommercialre.com		Ron Roaks 209-758-3147 rlroaks@prucommercialre.com
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The Commercial Connection Average Commercial Rents in the Area
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Tony Suleiman 209-758-3467 tsuleiman@prucommercialre.com	Dave Tanner 209-758-3108 dtanner@prucommercialre.com	Ron Roaks 209-759-3147 rlroaks@prucommercialre.com