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Net Absorption Rate 2010 vs 2009 2010 SF 2009 SF BOY inventory total 6,274,248 6,124,770 BOY vacant 701,721 413,304 BOY occupied 5,572,527 5,711,466 EOY inventory total 6,377,702 6,274,248 EOY vacant 532,455 701,721 EOY occupied 5,845,247 5,572,527 Net Absorption 272,720 (138,939)

Vacancy Rate Local vs National 15.00% 13.00% 11.9% 13.0% 11.00% 9.00% 7.00% 5.00% 3.00% 5.9% 3.70% 10.20% 8.4% 7.3% 4.70% 8.0% 5.8% 2.94% 1.84% 6.0% 2.62% 7.3% 5.61% 9.7% 6.93% 10.80% 8.34% 1.00% -1.00% Greater Portland National

Retail Vacancy 2010 vs 2009 2010 2009 Primary Market 7.2% 11.8% Secondary Market 11.3% 9.3%

Asking Vacancy Lease Rate Rates By Center 2010 vs Type 2009 Type Total Area Vacancy % Reg/Power Center 3,481,748 239,549 6.88% Community 1,427,401 198,163 13.9% Strip 361,833 45,628 12.6% Single Tenant 1,106,720 49,115 4.4% All Types 6,377,702 532,455 8.3%

Asking Lease Rates 2010 vs 2009 2010 2009 Range Average Average Primary Market $10.00 - $25.00 $16.44 $14.43 Secondary Market $5.95 - $16.00 $12.49 $12.57 Overall $5.95 - $25.00 $14.40 $13.50

Average Annual Construction By Decade 200,000 150,000 144,903 144,106 100,000 110,632 94,232 114,754 71,102 50,000-1960's 1970's 1980's 1990's 2000's 2010

KITTERY When Pigs Fly Bakery expands an additional 5,000 SF SANFORD Tractor Supply Co. opens its 11 th store in Maine KENNEBUNK Hannaford purchases 56,800 SF Stop n Shop KENNEBUNK Sebago Brewing Co. leases former Ricetta s

BIDDEFORD Kobe Japanese Grill leases former Chili s BIDDEFORD Casa Fiesta Mexican Bar & Grill leases former TGIF BIDDEFORD Linens n Things & Old Navy still vacant

SACO Norway Savings Bank opens new branch on Route 1 SACO Ocean Gateway FCU opens new branch on Route 1 SACO Movie Gallery closes across from Saco Valley Mall

SCARBOROUGH Marden s opens at the former Wal-Mart SCARBOROUGH Bull Moose expands to 13,000 SF SCARBOROUGH Red Robin purchases site on Gallery Blvd. SCARBOROUGH Wilderness House closes at Payne Road Plaza

SOUTH PORTLAND

PORTLAND

PORTLAND TD Bank Walgreens Five Guys Burgers

FALMOUTH Gorham Savings Bank opens 1,500 SF branch FALMOUTH Norway Savings Bank under construction FALMOUTH Bangor Savings Bank & Ace Hardware under construction at former Saab dealership FALMOUTH Wal-Mart to expand to superstore format

FREEPORT Nordica Theater announces 16,000 SF theater at Freeport Village Station FREEPORT Bow Street Market new 15,000 SF market under construction

BRUNSWICK Wild Oats Bakery & Café opens at Tontine Mall BRUNSWICK Dollar Tree opens at Cooks Corner

TOPSHAM Town Fair Tire under construction at TFM TOPSHAM Village Candle closes 75,000 SF

Growth Returned But Limited Overall market stabilization but uneven 70 60 2009 & 2010 Vacant Units 50 40 30 20 10-9 UNITS 59 UNITS 44 UNITS 2009 2010

Growth Returned But Limited Overall market stabilization but uneven Narrow tenant growth Scorecard Big Box 0 Category Specialists 0 Pharmacy 1

2010 Investment Sales TOTAL SF PRICE PSF Yarmouth Gateway Complex 8,575 SF $157.43 Rite Aid, Westbrook 11,180 SF $159.93 Former Bed & Body, Freeport 7,600 SF $394.74

US Retail E-Commerce Sales in Billions $160,000 $152 $140,000 $126 $132 $134 $120,000 $106 $100,000 $87 $80,000 $70 $60,000 $34 $44 $56 $40,000 $27 $20,000 $0 Source: US Department of Commerce

FASB - Financial Accounting Standards Board The FASB is a private body whose mission is to "establish and improve standards of financial accounting and reporting for the guidance and education of the public, including issuers, auditors and users of financial information."

Current Standard Source: Cushman & Wakefield

New Standard Source: Cushman & Wakefield

Rental Payment and P&L Charge Source: Cushman & Wakefield

Even if you're on the right track, you'll get run over if you just sit there. Will Rogers