MEPT

IN JANUARY, MEPT ACQUIRED RENO INDUSTRIAL CENTER LAND FOR $10.3 MILLION
in Reno, Nevada. The 104 acres of developable land is located in the Tahoe Reno Industrial Center (TRIC), where MEPT acquired USA Parkway Distribution Center I and II in December 2007. MEPT purchased the land to serve as expansion space for tenants at USA Parkway Distribution Center

MEPT ACQUIRED 20 NORTH CLARK STREET FOR $58.9 MILLION IN FEBRUARY.
The 383,030 square foot office building is located in Chicago’s Central Loop submarket with easy access to multiple public transportation alternatives, including the elevated train, suburban and commuter rail lines, and numerous bus lines.

Trammell Crow acquires 104 acres in Tahoe-Reno Industrial Center
Trammell Crow Company has acquired 104 acres of land within the Tahoe-Reno Industrial Center in McCarran, Nev., on behalf of Multi-Employer Property Trust (MEPT), a commingled real estate equity fund.

Strong capital helps venture win 20 N. Clark
A joint venture between local developer Hamilton Partners and a giant pension fund paid nearly $59 million for 20 N. Clark St., a nondescript office tower in the Central Loop, in a deal that reflects the strength of well-financed buyers amid the long, drawn-out credit crisis.

Booz Allen Hamilton Inc. Signs Five-Year Lease
Booz Allen Hamilton Inc., a McLean, VA-based consulting company, has signed a five-year lease for 11,584 sf at Columbia Center I. The deal bumps occupancy to 94%.


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Trust News - 2008

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First Quarter 2008:

IN JANUARY, MEPT ACQUIRED RENO INDUSTRIAL CENTER LAND FOR $10.3 MILLION in Reno, Nevada. The 104 acres of developable land is located in the Tahoe Reno Industrial Center (TRIC), where MEPT acquired USA Parkway Distribution Center I and II in December 2007. MEPT purchased the land to serve as expansion space for tenants at USA Parkway Distribution Center and the site can accommodate almost two million square feet. The first phase of new construction is scheduled to begin in approximately 18 months, dependent on market conditions, with the construction of a 806,520 square foot distribution facility that will pursue LEED certification. MEPT believes this acquisition is a way to leverage the Fund’s other assets in the TRIC, an attractive distribution hub for companies trying to capitalize on the region’s low cost of doing business, favorable tax environment, and ready access to the Western United States.

MEPT ACQUIRED 20 NORTH CLARK STREET FOR $58.9 MILLION IN FEBRUARY. The 383,030 square foot office building is located in Chicago’s Central Loop submarket with easy access to multiple public transportation alternatives, including the elevated train, suburban and commuter rail lines, and numerous bus lines. The Chicago CBD remains one of the best-performing office markets in the country, with occupancy rates increasing by 2.7 percent in 2007 and rental rates increasing by 4.2 percent. Market fundamentals in the Central Loop submarket are strong as well. 20 North Clark Street, a 64-story building built in 1981, is 93 percent leased to 64 tenants. Upon closing the sale, MEPT began evaluating the building to position it to achieve LEED-EB (Leadership in Energy and Environmental Design for Existing Buildings), a national rating system for building owners to measure operations, improvements and maintenance, with the goal of maximizing operational efficiency while minimizing environmental impacts.

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