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          Net       Total   Average    
          Rentable       Annualized   Base Rent/    
    # of   Area in   Percent   Base Rent3   Leased    
Property    Buildings    Sq. Feet1    Leased2    (in thousands)    Sq. Feet4    Significant Tenants5
Eastern Region
                          
Downtown Washington, D.C.:                          
                           
  International Square   3        1,014,914   97.5%   $34,949   $35.31   International Monetary Fund (49%)
  900 19th Street   1     101,215   96.4%   3,629   37.18   America's Community Bankers (27%),
Stone & Webster Management (13%),
Korn/Ferry International (12%),
Lucent Technologies (11%)
  2550 M Street   1     192,393   100.0%   6,465   33.60   Patton Boggs L.L.P. (99%)
  1730 Pennsylvania Avenue   1     229,292   98.7%   8,643   38.21   Federal Deposit Insurance Co. (47%),
King & Spalding (39%)
  1255 23rd Street7   1     306,395   96.9%   9,041   30.45   Chronicle of Higher Education (30%),
William M. Mercer, Inc. (21%)
  1747 Pennsylvania Avenue7   1     151,997   100.0%   5,354   35.23   Legg Mason (19%)
  1775 Pennsylvania Avenue6   1     143,857   98.6%   4,204   29.62   Citicorp Savings of Washington, DC (81%)
  1717 Pennsylvania Avenue   1     184,446   100.0%   7,256   39.34   MCI Telecommunications Corp. (57%),
Goodwin Procter, LLP (12%)
Suburban Washington, D.C.:                          
  One Rock Spring Plaza6   1     205,721   97.7%   5,908   29.39   Caterair International (22%),
Sybase, Inc. (19%)
  Sunrise Corporate Center   3     260,253   99.2%   6,565   25.43   Software AG of North America (80%)
  Reston Crossing East & West   2     327,788   100.0%   6,998   21.35   Nextel Communications, Inc. (100%)
  Trans Potomac V Plaza   1     97,006   98.1%   2,535   26.64   Effinity Financial Corp. (13%),
Casals & Assoc., Inc. (11%),
Larson & Taylor (11%),
Grafik Communications, Inc. (11%),
The Onyx Group (11%)
  Canal Center   4     495,119   84.7%   11,738   27.99   Close Up Foundation (12%)
Washington, D.C.   21     3,710,396   96.6%
Atlanta, GA:                          
  Glenridge   1     63,861   93.0%   1,194   20.10   Brooks, McGinnis & Co. (17%),
Metropolitan Life Insurance (13%),
Spectrum Realty Advisors (12%),
Communications Trends Inc. (11%)
  Holcomb Place   1     72,828   100.0%   1,169   16.05   Intercept Inc. (92%)
  Midori   1     100,195   42.9%   840   19.55   United Parcel Service (21%),
Oakmont Mortgage, Inc. (11%)
  Parkwood   1     150,270   96.0%   2,843   19.71   Onesource (20%), Numerex Corp. (17%)
  The Summit   1     179,085   79.9%   2,530   17.68   Unisys Corp. (73%),
  Spalding Ridge   1     127,726   86.3%   1,923   17.44   Honey Baked Ham Co. (43%),
Federal Deposit Insurance Co. (10%)
  2400 Lake Park Drive   1     103,460   55.5%   1,050   18.30   United Healthcare Services, Inc. (20%),
GSA (19%)
  680 Engineering Drive   1     62,154   61.5%   363   9.50   EMS Technologies (26%),
Pointclear, LLC (24%),
Intelligent Media Corp. (11%)
  Embassy Row   3     465,835   79.9%   6,571   17.66   Ceridian Corp. (29%),
Hanover Insurance Co. (17%)
  Embassy 100, 500   2     190,470   100.0%   4,283   22.48   Art Institute of Atlanta (60%),
Career Education Corp. (40%)
  Waterford Centre   1     84,219   60.8%   782   15.28   Wood & Company, Inc. (23%)
  The Forum   1     90,462   100.0%   1,904   21.04   NAC International, Inc. (72%)
Atlanta   15     1,690,565   81.2%
Eastern Region Subtotal
   36     5,400,961   91.7%
                           
          Net       Total   Average    
          Rentable       Annualized   Base Rent/    
    # of   Area in   Percent   Base Rent3   Leased    
Property   Buildings   Sq. Feet1   Leased2   (in thousands)   Sq. Feet4   Significant Tenants5
Pacific Region
                          
Southern California: Los Angeles:                          
  Warner Center   12     344,706   89.5%   $7,420   $24.04   GSA (20%)
  Warner Premier   1     61,210   96.1%   1,572   26.71   Protective Life Insurance (34%),
Charles Schwab & Co., Inc. (12%),
Steven B. Simon (11%)
  2600 W. Olive   1     144,831   100.0%   3,744   25.85   Walt Disney Company (80%),
Emmis Radio Corp. (16%)
  Westlake Spectrum   2     108,084   99.3%   2,131   19.85   Securitas Security Services (67%),
Insweb Corp. (12%)
Southern California: Los Angeles   16     658,831   94.0%
Southern California: Orange County:                          
  Scenic Business Park   4     138,076   85.8%   2,215   18.69   Miles, Wright, Finely & Zak (19%),
Talbert Medical Group (19%),
Terayon Communication System (17%),
Coast Community College (13%),
So. California Blood & Tissue Services (12%)
  Harbor Corporate Park   4     151,239   98.3%   2,778   18.70   Conoco Phillips Co. (12%),
Trizetto Group, Inc. (11%)
  South Coast Executive Center   2     162,504   95.5%   3,985   25.68   University of Phoenix (39%)
  Von Karman   1     104,375   100.0%   2,702   25.88   Vison Solutions, Inc. (41%),
Fidelity National Title Ins. (25%),
Taco Bell Corp. (17%)
  Bay Technology Center   2     107,481   100.0%   1,715   15.96   Finance America (65%),
Stratacare, Inc. (21%)
  Pacific Corporate Plaza 1, 2, 3   3     124,119   93.4%   2,356   20.33   Gallagher Bassett Svcs., Inc. (20%),
Covenant Care California, Inc. (16%),
Lan International (16%),
Marie Callender Pie Shops (14%)
  Alton Deere Plaza   6     182,461   83.4%   3,066   20.15   Nextlink California (18%),
XO California, Inc. (12%),
Tetra Tech, Inc. (11%)
Southern California: Orange County   22     970,255   93.0%
Southern California: San Diego:                          
  Del Mar Corporate Plaza   2     123,142   58.5%   1,894   26.28   Stellcom, Inc. (29%),
JMI Services, Inc. (25%)
  Towne Center                          
    Technology Park 1, 2, 3   3     182,120   100.0%   3,348   18.38   Gateway, Inc. (100%)
  Lightspan   1     64,800   100.0%   1,283   19.80   Lightspan Partnership (100%)
  La Jolla Spectrum 1 & 2   2     156,653   100.0%   6,021   38.44   Torrey Mesa Research Institute (51%),
Scripps Research Institute (49%)
  Palomar Oaks Technology Park   6     170,406   82.2%   1,905   13.61   Unifet, Inc. (23%),
TPR Group, Inc. (13%)
  Towne Center Technology Park 4   1     105,358   100.0%   2,012   19.10   Gateway, Inc. (100%)
  Highlands Corporate Center   5     205,191   93.4%   6,167   32.18   Vycera Communications, Inc. (12%)
  11119 Torrey Pines Road   1     76,701   100.0%   1,531   19.97   Chase Manhattan Mortgage (100%)
  Carroll Vista I & II   3     107,579   100.0%   2,156   20.04   Chugai Biopharmaceutical, Inc. (70%),
Cardiodynanics International (17%),
Peregrine Semiconductors (13%)
Southern California: San Diego   24     1,191,950   92.0%
                           
          Net       Total   Average    
          Rentable       Annualized   Base Rent/    
    # of     Area in   Percent   Base Rent3   Leased    
Property   Buildings     Sq. Feet1   Leased2   (in thousands)   Sq. Feet4   Significant Tenants5
Northern California: San Francisco Bay Area:                          
  CarrAmerica Corporate Center   7     1,004,679   86.5%   $21,314   $24.53   AT&T (36%),
Peoplesoft, Inc. (18%),
Pacific Bell Mobile Services (14%),
Safeway Inc. (14%)
  Valley Business Park I   2     67,784   91.4%   750   12.10   Premier Devices, Inc. (35%),
Multichip Assembly Inc. (17%),
Acer Labs, Inc. USA (15%)
  Bayshore Centre 2   1     94,874   0.0%   —   —   Building is vacant
  Rincon Centre   3     201,178   88.4%   3,899   21.92   Toshiba America Electronics (31%),
Propel Software Corp. (21%),
Future Electronics Corp. (19%),
GDA Technologies, Inc. (11%)
  Valley Centre II   4     212,082   100.0%   3,187   15.03   Boston Scientific (100%)
  Valley Office Centre   2     68,873   94.8%   2,007   30.72   Bank of America (21%), Quadrep, Inc. (13%)
  Valley Centre   2     102,291   78.0%   1,585   19.87   Seagate Technology (40%),
Numerical Technologies, Inc. (38%)
  Valley Business Park II   6     166,928   80.4%   2,938   21.88   Pericom Semiconductor Corp. (40%)
  Rio Robles   7     368,178   88.7%   1,498   4.59   Covad Communications Co. (23%),
Pericom Semiconductor Corp. (21%),
Vicace Networks, Inc. (14%),
KLA Instruments Corp. (13%)
  First Street Technology Center   1     67,582   0.0%   —   —   Building is vacant
  Baytech Business Park   4     300,000   78.8%   4,756   20.13   Schlumberger Technologies, Inc. (50%),
Caspian Networks (25%)
  3571 North First Street   1     116,000   100.0%   3,341   28.80   Sun Microsystems, Inc. (100%)
  San Mateo Center I   1     73,240   28.2%   580   28.13   ePOCRATES, Inc. (28%)
  Oakmead West Land A-G   7     425,981   100.0%   10,345   24.29   Applied Materials, Inc. (52%),
Proxim, Inc. (48%)
  San Mateo II & III   2     141,427   75.9%   2,538   23.62   Blazent, Inc. (11%)
  Hacienda West   2     207,288   89.2%   5,508   29.77   Paychex, Inc. (13%),
Sun Microsystems, Inc. (13%)
  Sunnyvale Technology Center   5     165,520   100.0%   3,611   21.82   Lattice Semiconductor Corp. (51%),
BMC Software (25%),
Nokia Internet Comm., Inc. (12%),
Metelics Corp. (12%)
 
  Clarify Corporate Center 1, 2, 3, 4   4     258,048   100.0%   7,566   29.32   Nortel Networks, Inc. (100%)
  Valley Technology                          
    Center 1, 2, 3, 4, 5, 6 & 7   7     460,590   100.0%   11,678   25.35   Lattice Semiconductor Corp. (29%),
TSMC North America, Inc. (24%),
Fore Systems, Inc. (18%),
Navisite, Inc. (14%)
  Golden Gateway Commons   3     276,370   92.1%   8,711   34.24   Sharper Image Corporation (21%),
Norcal Mutual Ins. (19%),
ABM Industries, Inc. (11%)
  Techmart Commerce Center   1     267,735   92.4%   8,590   34.73   Network Conference Co., Inc. (13%)
  Fremont Technology Park 1, 2, 3   3     139,304   86.3%   1,511   12.57   Flash Electronics, Inc. (32%),
Bandwidth Unlimited, Inc. (29%),
Intervideo, Inc. (25%)
  Mountain View Gateway Center   2     236,400   100.0%   5,452   23.06   KPMG LLP (57%),
Netscape Communications (43%)
  Stanford Research Park6   2     89,595   100.0%   4,218   47.08   Merrill Lynch (56%),
McKinsey & Company, Inc. (44%)                          
  500 Forbes   1     155,685   100.0%   5,698   36.60   Cell Genesys, Inc. (100%)
Northern California:                          
 San Francisco Bay   80     5,667,632   88.3%
                       
          Net       Total   Average
          Rentable       Annualized   Base Rent/
    # of     Area in   Percent   Base Rent3   Leased
Property   Buildings     Sq. Feet1   Leased2   (in thousands)   Sq. Feet4   Significant Tenants5
Portland, OR:                          
  Sunset Corporate Park   3     132,531   60.0%   $1,057   $13.30   Volkswagen of America, Inc. (34%)
  Rock Creek Corp Center   3     142,662   100.0%   3,227   22.62   Corillian Corp. (86%),
University of Phoenix (14%)
Portland   6     275,193   80.7%            
Seattle, WA:                          
  Redmond East   10     396,497   90.5%   5,269   14.69   Avaya, Inc, (21%),
Cardiac Pacemakers Inc. (20%),
Genetic Systems (14%),
Riverdeep Group (12%)
  Redmond Hilltop B & C   2     90,880   100.0%   1,523   16.76   Concur Technologies (90%),
Citrix Systems, Inc. (10%)
 
  Canyon Park   6     316,667   99.5%   5,095   16.16   Icos Corp. (28%),
Targeted Genetics Corp. (24%),
Fedex (14%),
Skeletech, Inc. (12%)
  Willow Creek   1     96,179   100.0%   1,138   11.83   Data I/O Corporation (100%)
  Willow Creek                          
    Corp. Center 1, 2, 3, 4, 5, 6   6     326,445   14.0%   693   15.16   No tenant occupies 10%
  Canyon Park Commons 1, 2, 4   3     176,846   100.0%   2,498   14.13   Washington Mutual Bank (62%),
AT&T Wireless Services, Inc. (38%)
  Canyon Park   1     95,290   100.0%   1,532   16.08   Safeco Insurance Co. (100%)
Seattle   29     1,498,804   78.7%            
Pacific Region Subtotal
   177     10,262,665   87.9%            

Central Region
                          
Austin, TX:                          
  City View Centre   3     137,185   48.0%   902   13.70   Oasis Design, Inc. (20%)
  City View Center   1     128,716   100.0%   1,456   11.31   Broadwing Telecommunications (100%)
  Tower of the Hills   2     166,149   93.3%   2,697   17.40   Texas Guaranteed Student Loan (69%)
Austin   6     432,050   80.9%            
Chicago, IL:                          
  Parkway North I   1     249,259   37.8%   1,846   19.59   No tenant occupies 10%
  333 E. and 377 E. Butterfield Road   2     366,497   66.7%   3,363   13.76   Washington Mutual Bank (17%)
  The Crossings   1     291,695   78.8%   3,740   16.27   Abercrombie & Kent International (15%),
Interface Software, Inc. (12%)
  Bannockburn I & II   2     209,447   83.3%   2,824   16.18   IMC Global, Inc. (34%),
Shindengen America, Inc. (17%)
  Bannockburn IV   1     108,801   95.5%   1,810   17.41   Abbott Laboratories (12%),
Orren Pickell Builders, Inc. (11%)
Chicago   7     1,225,699   69.1%
Dallas, TX:                          
  Cedar Maple Plaza   3     113,117   86.7%   2,247   22.92   A. G. Edwards & Sons, Inc. (11%)
  Quorum North   1     115,846   60.3%   1,286   18.41   Digital Matrix Systems, Inc. (20%)
  Quorum Place   1     178,504   76.3%   1,628   11.94   Lockwood Greene Engineers (11%)
  Tollway Plaza 1, 2   2     359,903   94.3%   7,667   22.58   Sun Microsystems, Inc. (27%),
Americorp Relocation Mgmt. (10%)
  Two Mission Park   1     77,363   74.6%   872   15.13   7-Eleven, Inc. (20%),
Bland, Garvey, Eads, Medlock (18%)
  5000 Quorum   1     161,534   68.3%   1,983   17.98   No tenant occupies 10%
Dallas   9     1,006,267   80.7%            
Central Region Subtotal
   22     2,664,016   75.4%            
                           
          Net       Total   Average    
          Rentable       Annualized   Base Rent/    
    # of     Area in   Percent   Base Rent3   Leased    
Property   Buildings     Sq. Feet1   Leased2   (in thousands)   Sq. Feet4   Significant Tenants5
Mountain Region
                          
Denver, CO:                          
  Harlequin Plaza   2     324,601   89.8%   $5,084   $17.43   Travelers Insurance Co. (24%),
Bellco Credit Union (17%),
Regis University (12%)                          
  Quebec Court I   1     130,000   100.0%   2,469   19.00   Time Warner Communications (100%)
  Quebec Court II   1     157,294   100.0%   2,694   17.13   Tele-Communications, Inc. (100%)
  Quebec Centre   3     106,865   87.3%   1,692   18.15   Team Lending Concepts, LLC (14%),
Eonbusiness Corp. (12%),
Walberg, Dagner & Tucker, P.C. (11%)
  Dry Creek 2 & 3   2     185,957   92.3%   2,693   15.68   Comcast Cable Communications (50%),
Peerless Insurance Co. (18%),
Radiology Imaging Associates (18%)
Denver   9     904,717   93.3%
Phoenix, AZ:                          
  Qwest Communications   4     532,506   100.0%   10,254   19.26   Qwest Communications (100%)
Salt Lake City, UT:                          
  Sorenson Research Park   5     281,246   96.6%   3,653   13.45   Convergys Customer Mgmt (47%),
ITT Educational Services, Inc. (15%)
  Wasatch Corporate Center   3     178,231   81.7%   2,228   15.30   Advanta Bank Corp. (28%),
Achieveglobal, Inc. (16%),
Fonix Corp. (14%),
Musician's Friend, Inc. (14%)
  Wasatch Corporate Center 18   1     49,566   11.1%   2   0.37   No tenant occupies 10%
  Sorenson X   1     41,288   100.0%   796   19.28   EDS Information Services LLC (63%),
Volvo Commercial Credit (13%),
WFS Financial, Inc. (11%),
Best Buy Stores (10%)
  Creekside I & II   1     78,000   100.0%   1,108   14.21   3Com Corporation (100%
Salt Lake City   11     628,331   86.2%            
Mountain Region Subtotal
   24     2,065,554   92.9%            
Total Consolidated Properties
   259     20,393,196       409,045        
Weighted Average
             87.8%       22.85    

 

1. Includes office, retail, parking space and storage.
2. Includes spaces for leases that have been executed and have commenced as of December 31, 2003.
3. Total annualized base rent equals total original base rent, including historical contractual increases and excluding (i) percentage rents, (ii) additional rent payable by tenants such as common area maintenance, real estate taxes and other expense reimbursements, (iii) future contractual or contingent rent escalations and (iv) parking rents.
4. Calculated as total annualized base rent divided by net rentable area leased.
5. Includes tenants leasing 10% or more of rentable square footage (with the percentage of rentable square footage in parentheses).
6. We own the improvements on the property and have a leasehold interest in all the underlying land.
7. We hold a majority ownership interest through a joint venture.