This first-class, 552,927 square foot, well landscaped corporate campus is comprised of five (5) buildings on 34.2 acres in suburban Minneapolis. Acquired from Cargill in 2003 by a partnership including Lutz Real Estate Investments, the Shoreview Corporate Center was the headquarters for major international corporations and Fortune 500 Companies such as Medtronic (AA-), Land O'Lakes (B), Deluxe Financial Services (BBB+) and Hil-Rom-a Hillenbrand Industries Company (A+). Originally developed by Deluxe as one of two local corporate campuses, Shoreview is located at the intersection of I-694 and Lexington Avenue. This intersection is also home to Land O'Lakes Corporate Headquarters, Guidant's Cardiac Campus and Fair Isaac's suburban location.

Medtronic and Deluxe's world headquarters are located within five miles of Shoreview. When these corporate locations are included with Shoreview, the immediate area has over 3.8 million square feet of credit rated corporate users. After Lutz Real Estate Investments increased occupancy from 90% to 100% by multi-tenanting and leasing the balance of space available in the 4000 Lexington Building and then extending the leases of the existing credit tenants, the partnership sold the property in 2005 to the TIC Syndicate, Argus Realty Investors.

In 2002, Lutz Real Estate Investments targeted the Southeast United States region office market for new investment activity. The partnership's first acquisition there was The Peachtree-Lenox Building, locally known as "The Morton's Building", from the pension fund ITW Investments. The Peachtree Lenox Building is a nine-story, 125,000 square foot office building with first-floor retail and a 350-car parking facility in Buckhead, Atlanta's premier sub-market. The property is located on Peachtree Road, in front of the Lenox

Mall, between the Westin Hotel and across the street from The Ritz Carlton Hotel. During its ownership, the partners developed a 250,000 square foot, $50 million high-rise condominium plan that could be developed on the excess land located at the rear of the property. After renovating the exterior signage and the front plaza along Peachtree Road, the partnership successfully sold the property and its entitlements.

This historic Beaux Arts-designed, 325,000 square foot, 21-story office building with first floor restaurants is located at the intersection of South Broad Street (the Avenue of the Arts) and Spruce Street in Center City, Philadelphia. Built as the headquarters to Atlantic Oil in 1923 (ARCO today), the building was renovated in 2000 complete with a fully restored terra-cotta exterior as well as updated mechanical systems. The partnership led by Lutz Real Estate Investments acquired the building, anticipating that the adjacent $255 million Kimmel Center for Performing Arts would significantly enhance the property's long-term value. After acquiring the 80% leased property, ownership produced some remarkable leasing results including six consecutive years of achieving virtually 100% occupancy.

These results were due to the expansion and extension of its major tenant, PHMC; the expansion of its second largest tenant, Klehr Harrison and the expansion and extension of Family Planning. Using the successful sales history of Ruth Chris' Steakhouse, ownership brought in a second national restaurant group, Ted Turner's "Ted's Montana Grill" on a long-term lease. In addition to improving the property's cash flow, the facade of this historical building was donated via a facade easement to the Preservation Alliance for Greater Philadelphia, which created a tax-deductible gift contribution for the partners.

EastRidge at Perimeter Park is an eight-building, single story, 477,000 square foot office/flex business park which was acquired along with the nearby Spring Forest Business Park by Lutz Real Estate Investments and its partner, Capri Capital Advisors. Upon acquisition, EastRidge was in need of cosmetic upgrades and increased marketing presence as a result of prior institutional ownership. The prior owners, First Industrial / Calsters, did not have enough local presence to provide the necessary management direction.

After renovating the facades, landscaping and exterior signage, EastRidge now offers state-of-the-art office/flex space in a park-like setting in Raleigh's Research Triangle Park/I-40 submarket, convenient to nearby amenities and only three miles from the Raleigh Durham International Airport. With individual entrances for each tenant and ample front door parking in a pristine, park-like setting, EastRidge at Perimeter Park perfectly positions a business in this dynamic area.

Acquired simultaneously with EastRidge at Perimeter Park, the Spring Forest Business Park consists of three (3), attractive single-story brick office buildings with over 156,000 square feet, state-of-the-art business amenities. After acquiring the property, Lutz Real Estate Investments invested substantial capital in an effort to improve the image of the property by updating the facades, landscaping and exterior signage. A focused broker campaign was also initiated that has brought occupancy to 98%.

Located in a premier location in the North Raleigh I-540/US-1 sub-market, Spring Forest is accessible to all major roads, and close to prominent restaurants and shopping. The property fronts on Spring Forest Road near U.S. Route 1 and is only minutes from the high-end residential communities of Wake Forest and nearby Wakefield Plantation. Spring Forest Business Center offers businesses a strong identity, attractive amenities and excellent access for decision makers.

The landmark 100 Bay Central, a signature silhouette in downtown St. Petersburg, Florida, was purchased by Lutz Real Estate Investments and its partner Capri Capital Advisors in 2006. The acquisition of the approximately 135,000 square foot, Class "A" property encompassed the first two levels of an eight-story mixed-use complex, which was built in 1990. Lutz Real Estate Investments recognized that 100 Bay Central offered outstanding retail and office potential with 13-foot ceilings, expansive showroom windows and two exceptionally large floor plates of approximately 67,000 square feet each. Except for 100 Bay Central, the largest floor plates in competitive downtown St. Petersburg buildings are only 14,000 square feet.

After longtime tenant, Progress Energy, relocated to its newly built, nearby headquarters, Lutz aggressively repositioned the property to take advantage of the strong growth in the Tampa/St. Pete region. The company initiated a campaign to market 100 Bay Central to top tier retailers, larger office users, health care organizations and other leading companies. In 2008, Lutz Real Estate secured its first tenant by moving Universal Healthcare out of several fractured office locations spread throughout St. Petersburg into its brand new, 45,000 square foot state of the art headquarters located at 100 Bay Central.

Lutz Real Estate Investments acquired a historic, 50,000 square foot, multi-tenanted retail and office building along with an adjacent parking lot located in prestigious downtown Birmingham, MI. Originally designed in 1928 by renowned architect Albert Kahn, Lutz Real Estate Investments recognizing

the potential untapped value in this rare in-fill location and rezoned the parking lot to a high-density mixed-use development opportunity. Eventually, a portion of site was successfully developed as The Wilits, a 5-story mixed-use retail and residential condominium.

Lutz Real Estate Investments acquired a 279,500 square foot regional headquarters facility occupied by the Bechtel Corporation located in Ann Arbor, MI. The building was converted into a multi- tenanted, Class A office building with a prestigious roster that included Merrill Lynch and Thomson Reuters. Lutz Real Estate Investments utilized its development skills to acquire an adjacent 26-acre property, re-zone the site into a 450,000 square foot master planned business community and ultimately built the 1000 Campus Drive office building.

Recognizing the need for local services to support its office tenants, Lutz Real Estate Investments acquired a neighboring industrial complex and rebranded it as Boardwalk Commerce Center. After cosmetic upgrades were completed, Boardwalk was converted to retail / showroom and leased to a health club facility, salon, printing company and other retail service providers.