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EXHIBIT A <br />Penner Expense Guide <br />The Penner Expense Guide is a widely cited biennial publication in Southern California, <br />which contains data from a survey of actual expenses at 10 comparable projects. These <br />Expense Guideline Reports for industrial, office, medical office, & retail give actual data <br />from the local Southern California market in an easy to read format. Per square foot <br />descriptive statistics are given for each expense category such as utilities, insurance, <br />janitorial, repairs & maintenance, etc. <br />\ <br />Ar <br />�' <br />\ <br />�'' <br />\ <br />' • <br />■r <br />rat\ <br />\\\� <br />\.i(•i:•;•. <br />r o % <br />\ , IN <br />It <br />itItValbridge <br />PROPERTY ADVISORS <br />* \ <br />■ <br />` A \ <br />\ <br />rr <br />\ <br />`4r <br />r r It <br />' , <br />r , \ <br />Ckange Cwnry Office <br />r <br />\ <br />al1370n <br />` \ <br />911"B.maoJ <br />Suite 255 <br />` \ <br />r <br />`, \ <br />n4-73"3711. <br />\ <br />\ <br />r <br />\ <br />` • <br />\ <br />■ <br />` rIt \ <br />lk <br />\ <br />` <br />at ' ` <br />Low -Rise Office <br />r <br />I,� <br />& Medical Office <br />want <br />2018 <br />r� <br />r <br />PENNER <br />'•\ <br />.r' <br />`•\ <br />EXPENSE <br />GUIDE <br />Discussions with local <br />appraisal reviewers <br />indicate our guides are <br />cited in as many as 50% <br />of the appraisals they <br />review in Southern <br />California! <br />