| CORPORATE REAL ESTATE SERVICES Corporate properties have a direct effect on a company's production efficiency, its image and its viability in the marketplace. These properties also have an intrinsic value that, if managed properly, can have a significant impact on the company's net worth. Most corporations have real estate problems and opportunities, often not recognized. Major corporations must: manage occupancy costs decide whether to stay in existing facilities or relocate elsewhere decide whether to lease, have an equity position or own relate projected corporate growth to long-range capital requirements control quality and cost of new facilities maximize value of under-utilized properties administer a portfolio of varied and dispersed properties The Summit concept is to provide a range of information-generating services for corporate clients. It is our goal to help our clients to understand the economic consequences of real estate related decisions and to enable them to properly anticipate facility needs. OVERVIEW OF CORPORATE REAL ESTATE SERVICES Facilities Audit: Analysis of lease and ownership documents Inventory of all land and buildings owned or leased Deficiency report Current occupancy cost comparison to net effective market prices Planning: Requirement programming (with assistance of qualified industrial engineer) Short and long-range strategic planning Quarterly/review and planning sessions Centralization of corporate real estate decision functions Corporate standards - company-wide criteria Relocation/Expansion: Employee distribution analysis Identification of market areas within designated radius Market survey of targeted area and comparative market economics Economic requirement determination (lease, purchase, sale/leaseback, etc.) Site selection Financial analysis of selected alternatives Projected occupancy cost analysis Tenant improvement cost analysis Relocation cost determination Pre-development evaluation Lease/purchase negotiations Lease review Disposition/Excess Space or Properties: Marketing plan for excess space Disposition of excess space: subleasing or sale Lease buy-out negotiations Alternative use determination Brokerage: Tenant/Buyer representation Landlord/Seller representation Client need determination Financing alternatives PRELIMINARY PLANNING SERVICES Facilities Audit - A facilities audit is conducted of leased and owned facilities to determine how efficiently the properties are working for their intended uses. Periodic updates are provided in order to monitor changes in the properties or their use. Requirement Programming - We begin by defining present and future requirements. Through an extensive interview of key management personnel and with the assistance of a qualified industrial engineer/space planner, a comprehensive program is developed that reflects current and future personnel counts, departmental agencies, corporate standards for office sizes, and overall facilities requirements. Preliminary Market Survey - Competitive market conditions are illustrated by a well-defined market survey of properties satisfying the programming requirements as set forth above. The market information generated is then used to establish economic assumptions for further analysis. Economic Requirement Analysis - Projected occupancy costs are comparatively analyzed in order to determine an appropriate strategy. Sale/leaseback, leasing or acquisition alternatives are evaluated to determine the best solution as it relates to the company's budget parameters and long-range plans. | 
