RECENT DEVELOPMENTS

	MIDLAND, TX The Midland, Texas Family Dollar store underwent a significant building remodel, along with a 2,000 sq. ft. building expansion. The property is located at a lighted intersection on Big Spring Rd., which serves as Midland's major North/South thoroughfare.
	BATON ROUGE, LA The Baton Rouge, Louisiana Family Dollar store underwent a significant building remodel, along with a 2,200 sq. ft. building expansion. Negotiations are currently underway to develop an additional building for a national tenant on the land adjacent to the Family Dollar building.
	MOBILE, AL The Mobile, Alabama O'reilly's Automotive was added to the portfolio in 2004. The building is situated on a pad site in front of Lowe's Home Improvement Center and is located in Mobile's premier retail area.
	FREEPORT, TX The Freeport, Texas, Dollar General property was added to the portfolio in 2004. The property is located in the heart of Freeport, on Highway 288. Negotiations are currently underway to develop an additional building for a national tenant on the land adjacent to the Dollar General building.
	BUDA, TX The Buda, TX, AutoZone is a build to suit project completed in April, 2007. The building is located on Main Street, and surrounded by several major residential developments. Negotiations are currently underway to develop an additional building for a national tenant on the land adjacent to the AutoZone building.
	PEARLAND, TX The Pearland, TX., AutoZone development is schedule to be completed in the Spring of 2007. The building is located on a pad site in front of the Silverlake Shopping Center, located on FM 518, in the heart of Pearland, TX.
	WOODLAND PARK, CO The Woodland Park, CO., AutoZone was a build to suit project completed in 2006. The property is located on a pad site in front of a major Safeway anchored shopping center. Negotiations are currently underway to develop an additional building for a national tenant on the land adjacent to the AutoZone building.
	BAYTOWN, TX The Baytown, TX, AutoZone is a build to suit project completed in November, 2007. The building is located on Garth Road, which serves as Baytown’s major North/South thoroughfare, and surrounded by several major retail developments.
	PASADENA, TX The Pasadena, TX AutoZone is a build to suit project completed in July 2007. The building is located on Garth Road, which serves as Baytown's major North/South thoroughfare, and surrounded by several major retial developments.'
	GRAND PRAIRIE, TX The Grand Prairie, TX O'Reilly's, is a build to suit project completed in April, 2008. the building is located on northeast green oaks Blvd., and surrounded by several major residential developments. Negotiations are currently underway to develop an additional building for a national tenant on the pad site adjacent to the O'reilly's building.
	HOUSTON, TX The Houston, TX, Dollar general, is a build to suit project completed in July, 2010. The building is located in north Houston, on Crosstimbers Blvd., which serves as major North/South thoroughfare, and surrounded by several major retail developments.
	PASADENA, TX The Pasadena, TX, Dollar General, is a build to suit project completed in November, 2010. The building is located in Central Pasadena at 2720 Southmore, which serves as a major East/West thoroughfare, and surrounded by several major retail developments.
	TEXAS CITY, TX The Texas City, Texas, Family Dollar property is a recent addition to the portfolio. The property is located in the heart of Texas City, on 9th Avenue N, which serves as Texas CityÕs major East/West thoroughfare.
	GRAND PRAIRIE, TX The Grand Prairie, TX Family Dollar is a build to suit project completed in 2011. The building is located on Northeast Green Oaks Blvd., and is surrounded by several major residential developments.
	MARBLE FALLS, TX The Marble Falls, Texas, Dollar General property is a recent addition to the portfolio. The property is located in the heart of Marble Falls, on Morton Mill Road, which serves as Marble FallÕs major North/South thoroughfare.