ALL INFORMATION FURNISHED REGARDING PROPERTY FOR SALE, RENTAL OR FINANCING IS FROM SOURCES DEEMED RELIABLE, BUT NO WARRANTY OR REPRESENTATION IS MADE AS TO THE ACCURACY THEREOF AND SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGES OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE OR FINANCING OR WITHDRAWAL WITHOUT NOTICE.

1481 Oak Tree Road - Iselin, NJ 08830 (732.283.9000) www.sitarcompany.com

R E A L E S T A T E

First Quarter 2013

Market Highlights

Office Q/QTotal Inventory 354,435,444 SFTotal Vacancy Rate 15.0%Average Rate $22.94 PSFQTD Net Absorption 1,163,350 SF Industrial Total Inventory 808,875,437 SFTotal Vacancy Rate 9.1%Average Rate $5.78 PSFQTD Net Absorption -486,254 SF Retail Total Inventory 352,044,812 SFTotal Vacancy Rate 6.6%Average Rate $19.37 PSFQTD Net Absorption 688,583 SF

Economic Indicators

Unemployment Rate Q/QNational 7.60%New Jersey 9.00% Median Existing Home Price National $184,300 Consumer Confidence Index 59.7

10 Year Treasury Yield 1.88%

WTI Crude Oil Price $97.10

Select Sitar Transactions1Q 2013

Sale of a 300,000 SF industrial building at 84 Lockwood Street, Newark. William Sitar Sr., Bill Sitar Jr. and Tom Monte represented the Seller.

The sales price was $5,925,000.

Sale of a 10,908 SF retail building at 228 Route 35 in Keyport, New Jersey. Brian Murphy represented both the Seller and the Purchaser. The sales price

was $3,000,000.

Sale of Ruby Tuesdays at 2102 Emerick Boulevard in Bethlehem, Pennsylvania. Giorgio Vasilis

represented the Purchaser. The sales price was $2,662,000.

The Northern New Jersey office market saw a rather large reduction in overall vacancy rates this past quarter, dropping from 15.4% to 15% in one quarter. Absorption was also strong with almost 1,200,000 square feet being absorbed in the quarter.

On the industrial front, the market was generally flat. However, average rental rates did creep up a bit to $5.78 PSF. Also of note, it appears the recent strength in the market has spurred movement within the market as net absorption dipped in the quarter to 486,254

square feet.

Office Surges, Industrial Flat

MARKET WATCH

Large Blocks of AbsorptionFirst Quarter 2013

FEATURED LISTINGS

OFFICE360 Avenue P

Newark10,800 SF

Please contact:Bill Sitar Jr

Office: 732.283.9000 Cell: 973.202.9119Dave Mac Dowell

Office: 732.283.9000 Cell: 973.722.1179

Office Veritext 44,695 SF 290 W Mount Pleasant Avenue, Livingston Ostuka 37,498 SF 508 Carnegie Center, Princeton

Industrial Ashland, Inc. 198,440 SF 1041 US Highway 202/206, Bridgewater Ashland Chemical 152,000 SF 1041 US Highway 202/206, Bridgewater Tory Burch 147,000 SF 200 Middlesex Avenue, Carteret Retail Wegman’s 140,000 SF 300 W Grand Avenue, Montvale Value Zone 30,000 SF 468-480 Chancellor Avenue, Irvington Essex County 16,846 SF 381 Eagle Rock Avenue, West Orange

Market No.  of  Buildings Total  RBA  (SF) Total  Vacant  (SF) Total  Absorption  (SF)

Office 15,907 354,435,444 53,226,587 1,163,350

Industrial 17,036 808,875,437 73,534,425 -­‐486,254

Retail 32,252 352,044,812 23,354,215 688,583

INDUSTRIAL 5039 Industrial Road

Wall Township9,600 SF of 14,300 SF

Please contact: Paul Cusa

Office: 732.449.2000 Cell: 732.927.0935

Please contact:Bill Sitar Jr

Office: 732.283.9000 Cell: 973.202.9119Brian Murphy

Office: 732.283.9000 Cell: 732.539.3098

RETAIL835 Roosevelt Avenue

Carteret60,000 SF

$0.00          

$5.00          

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Office:    Quoted  Rates  by  Submarket  

0.00%  

5.00%  

10.00%  

15.00%  

20.00%  

25.00%  

30.00%  

35.00%  

Brunswick  

Easte

rn  Mon

mouth  

GW  Br

idge  

Hacke

nsack  

Hudson

 Wate

rfron

t  

Hunte

rdon  

Meado

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Morristow

n  Region

 

Newa

rk  

North

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North

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North

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ounty

 

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Princeto

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Princeto

n  Sou

th  

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Route

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Route

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est  

Route

 287  

Route

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Route

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Route

 46  Co

rrido

r  

Route

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Route

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est  

Short

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Millburn

 

South

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South

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Subu

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Western

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Western

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mouth  

Western

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is  

Office:  Vacancy  Rates  by  Submarket  Office: Vacancy Rates by Submarket

Office: Quoted Asking Rates by Submarket

0.0%    

5.0%    

10.0%    

15.0%    

20.0%    

25.0%    

30.0%    

Brunswick/Exit  9  Ind  

Carlstadt/Rutherford  Ind  

Carteret/Avenel  Ind  

Central  Union  Ind  

East  Newark  Ind  

Eastern  Monmouth  Ind  

Eastern  Morris  Ind  

Elizabeth  Ind  

Englewood/Edgewater  Ind  

Exit  10  Ind  

Exit  8A  Ind  

Fairfield  Market  Ind  

Hackensack/Teaneck  Ind  

Hudson  Waterfront  Ind  

Hunterdon  Ind  

Linden  Ind  

Lyndhurst/Harrison  Ind  

Morristown  Region  Ind  

Northeast  Bergen  Ind  

Northwest  Bergen  Ind  

Ocean  County  Ind  

Paramus  Ind  

Paterson  Ind  

Perth  Amboy/GSP  Ind  

Princeton  Ind  

Route  23/I-­‐287  Ind  

Route  280  Corridor  Ind  

Route  3/GSP  Ind  

Route  46  Corridor  Ind  

Route  78/22  East  Ind  

Route  80  Corridor  Ind  

Secaucus/North  Bergen  Ind  

Somerset  Ind  

Suburban  Essex  Ind  

Suburban  Passaic  Ind  

Sussex  County  Ind  

Teterboro  Airport  Ind  

Trenton/295  Ind  

Upper  Rt  46/23  Ind  

Warren  Ind  

West  Newark  Ind  

Western  Monmouth  Ind  

Western  Rt  287  Ind  

Industrial:    Vacancy  Rates  by  Submarket  Industrial: Vacancy Rates by Submarket

$0.00          

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$18.00          

Brunswick/Exit  9  Ind  

Carlstadt/Rutherford  Ind  

Carteret/Avenel  Ind  

Central  Union  Ind  

East  Newark  Ind  

Eastern  Monmouth  Ind  

Eastern  Morris  Ind  

Elizabeth  Ind  

Englewood/Edgewater  Ind  

Exit  10  Ind  

Exit  8A  Ind  

Fairfield  Market  Ind  

Hackensack/Teaneck  Ind  

Hudson  Waterfront  Ind  

Hunterdon  Ind  

Linden  Ind  

Lyndhurst/Harrison  Ind  

Morristown  Region  Ind  

Northeast  Bergen  Ind  

Northwest  Bergen  Ind  

Ocean  County  Ind  

Paramus  Ind  

Paterson  Ind  

Perth  Amboy/GSP  Ind  

Princeton  Ind  

Route  23/I-­‐287  Ind  

Route  280  Corridor  Ind  

Route  3/GSP  Ind  

Route  46  Corridor  Ind  

Route  78/22  East  Ind  

Route  80  Corridor  Ind  

Secaucus/North  Bergen  Ind  

Somerset  Ind  

Suburban  Essex  Ind  

Suburban  Passaic  Ind  

Sussex  County  Ind  

Teterboro  Airport  Ind  

Trenton/295  Ind  

Upper  Rt  46/23  Ind  

Warren  Ind  

West  Newark  Ind  

Western  Monmouth  Ind  

Western  Rt  287  Ind  

Industrial:    Quoted  Rates  by  Submarket  Industrial: Quoted Asking Rates by Submarket

0.0%    

2.0%    

4.0%    

6.0%    

8.0%    

10.0%    

12.0%    

14.0%    

16.0%    

18.0%    

Brunswick  

Easte

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mouth  

GW  Br

idge  

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Hudson

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rk  

North

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North

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Route

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Short

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South

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Subu

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Western

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Western

 Mon

mouth  

Western

 Morr

is  

Retail:    Vacancy  Rates  by  Submarket  Retail: Vacancy Rates by Submarket

0  

5  

10  

15  

20  

25  

30  

35  

Market  

Brunswick

 

Clarks

town  

Easte

rn  Mon

mouth  

GW  Br

idge  

Hacke

nsack  

Hudson

 Wate

rfron

t  

Hunte

rdon  

Meado

wlands  

Middlet

own  

Monroe

 

Morrist

own  R

egion

 

Newark

 

Newbu

rgh  

North

 17  Co

rrido

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North

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North

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n/Woo

dbrid

ge  

Ocea

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Oran

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Palisa

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Parkw

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Parsi

ppan

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Passa

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6/23  

Passa

ic  Urba

n  Reg

ion  

Pike  C

ounty

 

Princ

eton  N

orth  

Princ

eton  S

outh  

Ramap

o  

Route

 208  C

orrido

r  

Route

 22  Ea

st  

Route

 22  W

est  

Route

 287  

Route

 3/GS

P  

Route

 4/17

 

Route

 46  Co

rrido

r  

Route

 78  Ea

st  

Route

 78  W

est  

Short

 Hills/

Millburn

 

South

 Ediso

n  

Retail:    Quoted  Rates  by  Submarket  Retail: Quoted Asking Rates by Submarket

ALL INFORMATION FURNISHED REGARDING PROPERTY FOR SALE, RENTAL OR FINANCING IS FROM SOURCES DEEMED RELIABLE, BUT NO WARRANTY OR REPRESENTATION IS MADE AS TO THE ACCURACY THEREOF AND SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGES OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE OR FINANCING OR WITHDRAWAL WITHOUT NOTICE.

1481 Oak Tree Road - Iselin, NJ 08830 (732.283.9000) www.sitarcompany.com

R E A L E S T A T E

Sitar Realty Company specializes in servicing all real estate markets in New Jersey. The Company is headquartered in Middlesex County, New Jersey with two additional offices

located in Monmouth County, New Jersey.

Sitar Realty Company Locations

1481 Oak Tree Road - Iselin, NJ 08830Tel: 732-283-9000 Fax: 732-283-3103

503 Washington Boulevard - Sea Girt, NJ 08750Tel: 732-449-2000 Fax: 732-449-2828

658 Cookman Avenue, Suite 6 - Asbury Park, NJ 07712Tel: 732-775-3000 Fax: 732-775-5520

About Sitar Realty CompanyOne of the greatest strengths of the Sitar Realty Company is our ability to offer experience and expertise in all forms of real estate brokerage. Among our specialties are office and industrial leasing and sales, property disposition, consulting for acquisitions, investments, joint ventures and asset management. We are active in tenant representation as well as owner representation for exclusive agencies. Our intimate knowledge of the New Jersey real estate market has often meant a shorter lease-up period for exclusive properties. Most of our brokerage activity takes place in the New Jersey and New York metropolitan area and Pennsylvania. Yet, our repeated success with corporations seeking space in other states has assured these firms of the Sitar Realty Company’s strong brokerage network throughout the country. Time is critical in today’s market. Whether the requirement is 2,000 or 800,000 square feet, Sitar Realty Company’s personnel utilize the resources available to fulfill the requirement thoroughly and professionally. From site selection through data analysis, advice, negotiation, and closing, Sitar Realty Company offers a turnkey solution to each transaction. Our goal is to provide the vital services our clients need and expect in an expeditious and comprehensive manner.

Sitar Realty Company Services• Commercial Brokerage Leasing and Sales• Investment Services• Property Tax Consulting & Appeals• Property Management Services• Rent Receiver Services• Award-Winning Research• Consulting and Advisory• IRA Real Estate• Residential Division

TCN WorldwideTCN Worldwide, a consortium of independent commercial real estate firms, provides complete integrated real estate solutions locally and internationally. With approximately $20.7 billion in annual transactions and over 80 million square feet of space under management, TCN Worldwide ranks as one of the largest service providers in the industry. Across all property types and service groups, TCN Worldwide’s 1,200+ brokers and salespeople have a well-earned reputation for independent thinking and cooperative problem solving in more than 200 markets worldwide.

The data collected herein has been derived from Dept. of Labor, Dept. of Commerce, The Federal Reserve, CoStar, Sitar Realty Company, U.S. Census Bureau of Labor Statistics, Port Authority of NY & NJ and NJEDA. Data may not reflect what was previously reported due to new information coming available. The information gathered is deemed reliable, but no warranty or representations are made as to the accuracy thereof and is submitted subject to any errors or omissions. The ideas and opinions expressed in this market report reflect the views of Sitar Realty Company.