Most recent market trends by segment: INDUSTRIAL --- 1st quarter '06 warehouse rents dropped slightly but are up 5.5% over 2005 same period. New industrial construction is up 13.2 million SF from 2005 and up to 40.2 million SF. OFFICE --- The top markets for office absorption in 1st quarter '06 are Chicago, Dallas, Houston, Atlanta and Washington DC. RETAIL --- Sales for REIT mall tenants rose faster than occupancy costs last year. Companies reporting increases are Taubman Centers up 9%; Simon Property Group up 5.4% and CBL & Associates up 4.1%. All three saw occupancy costs decline slightly. MULTIFAMILY --- Rental rates are being pushed up by immigration increases, fewer completions and higher interest rates. Highest rental rates are found in West Palm Beach, Fort Lauderdale, Miami and Orlando, FL followed by Las Vegas, Riverside CA, Los Angeles and Orange County, CA.