but specter of recession remains an overhang 'Figure 66: 1-Month Office performance 0% If n nits osow o: 11 "4" 4 efi tr. a at 'Figure 67: YTD Office performance Mks tocojew co &nowt ewenniArt seninietotoWelefillet iel, As of 1 Of 14/1 6 'Figure 68: vacancy flat while rents decelerate 14.0%

ngs Preview Office: Valuations remain attractive, but specter of recession remains an overhang 'Figure 66: 1-Month Office performance 'Figure 67: YTD Office performance .01% 2% 'a'''. ""“a a ir • a 1 r”Sit 11 Smarr Offka Mks 60% -1111iliffi 90% esfriseentottneri 0 >#,1141 040-40,1 I40