C O M M E R C I A L L . L . C.

1. The Commercial Real Estate Overview: The Bridgeport & Fairfield Marketplace 3/1/2011 Presented By Jon Angel, President A N G E L C O M M E R C I A L L . L . C.

2. The Bridgeport Market Notable Projects of Asset Growth & Development in Bridgeport Bridgeport, Connecticut, considered a model municipal program for the country, is in the midst of a tremendous revitalization via “Smart Growth” policies and brownfield reclamations. These developments and improvements to the commercial, educational, residential and medical aspects of the city, along with city-wide economic development programs and incentives, are attracting investments, new business, and national recognition. • Economic Development • $17 Million Bridgeport ITC (Intermodal Transportation Center) Garage Development • Recent additions to the infrastructure include a 500-space, two-floor parking deck completed in 2010; elevated pedestrian walkway leading to Metro-North completed in 2008; and 17 bay bus terminal with overhead walkways connecting to Metro-North and Amtrak platforms completed in 2007. • 1,500-car commuter parking facility linking downtown Bridgeport with the region via Amtrak, Metro North, water ferries, airport limousines, inter and intra-city buses and taxis. Serves to limit highway congestion and offers additional parking space for local events held at Harbor Yard. • $55 Million Housatonic Community College Expansion • The renovation of a Sears Roebuck department store served to double the size of the college, increase available capacity and revitalize activity in Downtown Bridgeport. • Medical Sector Development • Health Care Facility Improvements • Record-setting $145 million expansion project at St. Vincent’s Medical Center, including development of a $50 million Elizabeth Pfriem SWIM cancer center which represents significant advancement in treatment of the disease. The center offers diagnostic, treatment, counseling and related services in one building. • Bridgeport Hospital undergoing $70 million in capital improvements across the 800,000 square foot facility, with most recent improvements made to the Emergency Center. • $40 million expansion and rehabilitation project to The Watermark at 3030 Park, a senior living and assisted-living center.

3. The Bridgeport Market (cont’d) Notable Projects of Asset Growth & Development in Bridgeport • Industrial Development & Energy • United Rentals Relocation & Development • Developed on a site idle since 1980, United Rentals’ newly built 40,000 square foot facility is now it’s largest in the New England area. • United Rentals is the largest equipment rental company in the world. • Derecktor Shipyards • Company expansion into Bridgeport, now occupying 23 acres of deep-water harbor property. • The new facility has created nearly 400 new jobs. • Bridgeport Energy Peaking Station • Widely supported, new $200 million natural gas-fired electrical generating plant developed in the heavy industrial zoned area of Bridgeport. • The facility contributes to the long-term goal of assuring Bridgeport has the energy infrastructure to support future economic growth. • Neighborhood & Residential Development • Steelpointe Harbor Development • 52-acre mixed-use site located across the Pequonnock River from Downtown Bridgeport. • 2.8 million square foot build-out scheduled for construction to begin in Spring of 2011. • Comprised of approximately 30% retail, 10% commercial/office and 10% hotel/conference space; a 250-slip marina with super yacht capacity; and 1,000 - 1,500 residential units.

4. The Fairfield Market Notable Projects of Asset Growth & Development in Fairfield • Fairfield Metro Center • Permitting for site work anticipated for Spring, 2011. • Planned footings for a 200,000 square foot building, which will include 165,000 square feet of office space and 35,000 square feet of retail space. • The CT DOT anticipates the opening of the new train station, including parking and bridge access, in September 2011. • Kings Crossing Development • Retail center of approximately 86,000 square feet on 10.8 acres, located directly off of I-95, Exit 23 (King’s Highway). • Anchor tenants include Whole Foods, occupying approximately 50,000 square feet, and CVS, occupying approximately 13,000 square feet. • Several other retail tenants to be announced soon, pending their lease executions. • Commerce Drive Recent Developments • Commerce Drive is the home of several high-end automotive dealerships including Porsche, Audi, Mercedes Benz and Smart Car. • A new Infiniti dealership is scheduled to open April 1st at 26 Commerce Drive, while Mercedes Benz has expanded their dealership and will have a grand re-opening. • Other Developments in Fairfield • Relocation of “The Edge” Fitness facility from 665 Commerce Drive to 500 Kings Highway Cutoff ; new location includes 40,000 square feet of gym space and a 4,000 square foot exercise studio. • The prior Shaw’s supermarket, located at 1975 Black Rock Turnpike, is under construction for renovations and will re-open as Shoprite. • $2MM renovations to 525 Tunxis Hill Road shopping center – approx. 39,000 square feet with 13 retail spaces. • Sportsplex of 85 Mill Plain Road, close to I-95 and Metro North, underwent renovations to the 6-acre, 120,000 square foot building. • Brick Walk promenade in the downtown area was completed this past year. • Wings Over Water School of Swimming opened at 2221 Black Rock Turnpike (on lower level of Old Navy building), featuring a 60’ x 25’ indoor pool. • Borders book store located at 1499 Post Road in Fairfield will remain active.