0 400,000 800,000 1,200,000 1,600,000 2,000,000 2,400,000 2013 2014 2015 2016 2017 2018 Q1 2019 OVERVIEW BY CLASS NOTABLE TRANSACTIONS - Q1 2019 PROPERTY NAME BUYER/TENANT SF TRANSACTION TYPE CITY CLASS Sandy Center Plaza Deeproot Technologies 58,689 Lease Sandy A Vista Station 1 Shape Security 13,854 Sublease Draper A Sandy Center Plaza Suncrest Health Services 12,694 Lease Sandy A Lindon Tech 5 Schuﬀ Steel, LLC 11,649 Lease Lindon A Grove Tower Dental Intel 10,614 Lease Pleasant Grove A NET ABSORPTION (SF) DIRECT VACANCY RATES ACHIEVED ACTUAL LEASE RATES (FS) 0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 2013 2014 2015 2016 2017 2018 Q1 2019 Class A Class B $10.00 $14.00 $18.00 $22.00 $26.00 $30.00 2013 2014 2015 2016 2017 2018 Q1 2019 Class A Class B BUILDINGS DELIVERED IN Q1 2019 Q1 2019 CLASS DIRECT VACANCY RATES ACTUAL LEASE RATES PSF LEASED SF NET ABSORPTION (SF) A 3.14% $28.77 195,591 467,752 B 3.80% $21.03 14,183 32,903 * All average lease rates are square foot weighted averages and are grossed up to a full service yearly PSF equivalent. All lease transaction data includes renewals. PROPERTY PROPERTY NAME CLASS BUILDING SF North Slope One A 151,370 Thanksgiving Station 3 A 120,000 Urban Grove A 110,614 106 Exchange B 42,700 *All average lease rates are square foot weighted averages and are grossed up to a full service yearly PSF equivalent. All lease transaction data includes renewals. NEWMARK GRUBB ACRES OFFICE SNAPSHOT Q1 2019 TECH CORRIDOR, UTAH Q1 2018 Direct Vacancy Rate 7.00% Average Lease Rate PSF $23.83 Net Absorption SF 297,927 Q1 2019 Direct Vacancy Rate 3.23% Average Lease Rate PSF $27.20 Net Absorption SF 500,655 Q1 2019 VS Q1 2018 COMPARISON NET ABSORPTION DIRECT VACANCY RATE # OF LEASE TRANSACTIONS LEASED SF AVERAGE LEASE RATE PSF DELIVERED SF UNDER CONSTRUCTION SF 801.578.5555 www.ngacres.com

NEWMARK GRUBB ACRES OFFICE SNAPSHOT...0 400,000 800,000 1,200,000 1,600,000 2,000,000 2,400,000 2013 2014 2015 2016 2017 2018 Q1 2019 OVERVIEW BY CLASS NOTABLE TRANSACTIONS - Q1 2019

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400,000

800,000

1,200,000

1,600,000

2,000,000

2,400,000

2013 2014 2015 2016 2017 2018 Q12019

OVERVIEW BY CLASS

NOTABLE TRANSACTIONS - Q1 2019PROPERTY NAME BUYER/TENANT SF TRANSACTION

TYPE CITY CLASS

Sandy Center Plaza DeeprootTechnologies 58,689 Lease Sandy A

Vista Station 1 Shape Security 13,854 Sublease Draper A

Sandy Center Plaza Suncrest HealthServices 12,694 Lease Sandy A

Lindon Tech 5 Schuff Steel, LLC 11,649 Lease Lindon A

Grove Tower Dental Intel 10,614 Lease PleasantGrove A

NET ABSORPTION (SF)

DIRECT VACANCY RATES ACHIEVED ACTUAL LEASE RATES (FS)

0.00%

2.00%

4.00%

6.00%

8.00%

10.00%

2013 2014 2015 2016 2017 2018 Q12019

Class A Class B

$10.00

$14.00

$18.00

$22.00

$26.00

$30.00

2013 2014 2015 2016 2017 2018 Q12019

Class A Class B

BUILDINGS DELIVERED IN Q1 2019

Q1 2019

CLASS DIRECT VACANCYRATES

ACTUAL LEASERATES PSF

LEASED SF

NET ABSORPTION

(SF)

A 3.14% $28.77 195,591 467,752

B 3.80% $21.03 14,183 32,903

* All average lease rates are square foot weighted averages and are grossed up to a full service yearly PSF equivalent. All lease transaction data includes renewals.

PROPERTY PROPERTY NAME CLASS BUILDING SF

North Slope One A 151,370

Thanksgiving Station3 A 120,000

Urban Grove A 110,614

106 Exchange B 42,700

*All average lease rates are square foot weighted averages and are grossed up to a full service yearly PSF equivalent. All lease transaction data includes renewals.

NEWMARK GRUBB ACRESOFFICE SNAPSHOT Q1 2019TECH CORRIDOR, UTAH

Q1 2018Direct Vacancy Rate

7.00%Average Lease Rate PSF

$23.83Net Absorption SF

297,927

Q1 2019Direct Vacancy Rate

3.23%Average Lease Rate PSF

$27.20Net Absorption SF

500,655

Q1 2019 VS Q1 2018COMPARISON NET

ABSORPTIONDIRECT

VACANCYRATE