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.

Lutz Real Estate Investments and its joint venture partner, GE Capital, acquired Tri County Business Park, a 20 building, 676,735 square foot single-story business park from Apollo/Adler in 2005. Recognizing its irreplaceable location with over 70 acres in the Oldsmar sub-market near the Westchase residential community, Tri County provides frontage along Race Track Road, which was recently expanded into a boulevard and doubled in width. Recognizing this significant increase in visibility, Lutz Real Estate Investments began a 2-year, $4 million renovation and enhancement program to upgrade the facades, the landscaping, the replacement of several roofs and

all exterior signage, designed to meet tenants immediate needs as well as their long-term growth. To capitalize on the increased traffic, Lutz successfully re-zoned the buildings fronting Race Track Road from Light Industrial (LI) to Suburban Mixed Use-6 (SMU-6). This re-zoning provided the flexibility required to develop retail or additional warehouse/showroom suites along Race Track Road. With the completion of renovation and re-zoning, large and small businesses ranging from light manufacturing and showroom to professional office choose Tri County for its flexible space options.

Acquired in 2004 from LaSalle Investment Management, the 471,034 square foot business park was Lutz Real Estate Investments second acquisition in the Atlanta market. The Northridge Business Park is comprised of seven, single-story, very attractive brick buildings on a rolling wooded site in one of Atlanta's premier northern sub-markets. Located along the Georgia 400, just north of I-285, Atlanta's interstate ring road, it provides convenient access around metropolitan Atlanta.

The property also offers tenants a unique niche combining high-quality, single-story office space with a warehouse/flex component for R&D, production and storage serving the North Atlanta affluent residential areas. Over 65% of the tenants have occupied their space for over fifteen years. After acquisition, Lutz immediately implemented a hands-on, comprehensive marketing approach and added the support of on-site property management which was favorably received by the tenants.

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.

Upon Lutz's acquisition in 2001, Bradford Plaza Shopping Center was an outdated 123,000 square foot neighborhood shopping center with excess land located in West Chester-an affluent suburb of Philadelphia. Beginning in 2004, Bradford Plaza began a transformation that included two years of negotiations and 12 months of a $15+ million construction project. These improvements are the primary result of a long-term lease with a new anchor tenant, Giant Food Stores, which replaced an antiquated 43,500 square foot grocery store with a state-of-the-art 69,650 square foot one-stop shopping experience.

In conjunction with Giant Food Stores opening, the smaller tenant storefront faces were renovated in an effort to cohesively blend with Giant's proto-type storefront and give the entire shopping center a fresh, contemporary look. After expanding the property to 142,000 sq. ft., renovating the facades and re-tenanting, Lutz sold the property in April 2007 to a fund advised by Urdang & Associates.

Lutz Real Estate Investments acquired a landmark apartment community and adjacent retail complex in Dearborn, MI. The property, Springwells Park, originally built by Henry and Edsel Ford, was one of the first planned urban developments in the nation consisting of apartments, townhouses, single-family homes and a retail center. Upon acquisition, the property was beginning to fall into disrepair due to neglect by prior ownership.

Lutz updated and restored the development to today's upscale standards, which included updating electrical systems, installing air conditioning, renovating the exterior facades and landscaping as well as refurbishing the Club House. For its efforts, Lutz received numerous accolades which required a delicate combination of construction expertise and imagination.

This 12-story structure in downtown Chicago's east loop includes a 210-space office parking garage and retail area consisting of 10,000 square feet. Lutz brought into the partnership principals of Hard Rock Hotel and expanded the parking facility to serve the entertainment market during the evenings and on weekends. A valet facility provides parking for the guests of Hard Rock, China Grill and Mortons. Visitors now use the facility to enjoy the recently completed Millennium Amphitheater designed by Frank Geary.

The partnership replaced and upgraded the retail tenants with more appropriate retailers at substantially greater rental rates, further enhancing the investment performance. In 2007, the partnership installed a state-of-the-art payment program which created a more efficient collection process and reduced operating costs.

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.