B&B Alexandria Corporate Park, LLC purchased the property known as Alexandria Corporate Park located at 6315 Bren Mar Drive in Alexandria, Virginia (the “Property”) on June 5, 2008. Situated at the gateway location to the Springfield industrial/flex submarket in Fairfax County, the Property features a total of 271,730 square feet of rentable area which is 100% leased to a strong roster of tenants representing a diverse array of industries. Demand for flex space is driven by the Property’s extraordinary location, just 10 minutes from the Pentagon, at the confluence of the three major interstates in the Washington, DC region: I-95, the Capital Beltway (I-495), and I-395, affording easy ingress and egress to all points in the area for tenants and their clients.

Originally built in 1962 (with an addition in 1970), the building underwent a complete renovation in 2001 and 2002, at a cost of approximately $5.5 million. The asset was institutionally owned and maintained by First Potomac Realty from 2003 to June, 2008.

INVESTMENT HIGHLIGHTS

• Investment-grade tenancy highlighted by Federal Protective Services (GSA), CACI and Fluor
• Strong tenant investment in property enhances retention and stability
• Tenants are diverse across industries, stabilizing rental income
• Current occupancy of 100% with no potential rollover until February 2011

SUPERIOR LOCATION

• Unmatched direct access to I-395 and its confluence with I-95 and I-495 (the Capital Beltway), affording fast ingress and egress to the entire Washington, DC metropolitan region for tenants and their clients
• Secure location allows for a level of privacy tenants such as Federal Protective Services (GSA) favor without having to sacrifice accessibility
• Located minutes away from downtown DC, the Pentagon, Old Town Alexandria, Tysons Corner, Reagan National Airport, and Landmark and Springfield Malls, which form 2.2 million square feet of prime shopping, entertainment, and dining options

STRONG MARKET FUNDAMENTALS

• Springfield vacancy rate has trended downward from 6.9% in 2002 to its present 3.9%, vastly outperforming surrounding markets
• Average 5% rental rate growth in the Springfield submarket every year since 2002
• Dedicated as a Fairfax County Revitalization area, proposed development plans call for a significant mixed-use development and redevelopment which should enhance population density and amenity base
• Springfield’s brand new state of the art vehicular infrastructure ensures tenant attraction and retention with easy access to all parts of the Washington DC Region
• Limited industrial/flex construction activity and the recent trend toward conversion of warehouse space to flex product primarily focuses on smaller facilities, ensuring the Property will hold its unique status as the largest, most accommodating flexible product in the market

PREMIER SPRINGFIELD FLEX ASSET

• Meticulously maintained by local REIT ownership with on-site management
• Recently renovated in 2002, with approximately $5.5 million in capital enhancements
• Specifi c build-outs (2 basketball courts, secured entrance, fi ring range, exercise/training facilities) enhance tenant renewal probability
• Ample on-site parking accommodates the needs of several tenants (Velocity, Federal Protective Services, TESST), an amenity rarely found in comparable fl ex product
• The largest fl ex product in the Springfi eld market, allowing for unmatched versatility and fl exibility in attracting tenants
• Suite 250 features 1,100 square feet of raised fl oor data center space

MAJOR CREDIT TENANTS:
Federal Protective Services (60,241 sf), CACI (46,207 sf)
Hensel Phelps Construction (34,200 sf) 
Truland (26,500 sf)
TESST (22,500 sf)
Fluor-Lane (17,184 sf)