<PAGE>

                                    SUMMARY 
   PURCHASE AND SALE AGREEMENT FOR MICHIGAN, LOUISIANA, AND VIRGINIA PROPERTIES

The Purchase and Sale Agreement dated May 29, 1997, between the Company and 
The Prudential Insurance Company of America covering the Michigan, Louisiana, 
and Virginia properties as amended by the First Amendment thereto dated July 
7, 1997, the Second Amendment thereto dated July 22, 1997, and the Third 
Amendment thereto dated August 5, 1997, (the "Mich./La./Va. Agreement") is 
substantially identical to the Purchase and Sale Agreement dated May 29, 1997 
between the Company and The Prudential Insurance Company of America covering 
Texas properties as amended by the First Amendment thereto dated July 7, 
1997, the Second Amendment thereto dated July 22, 1997, and the Third 
Amendment thereto dated August 5, 1997, which is filed herewith (the "Filed 
Agreement"). Material differences between the Mich./La./Va. Agreement and the 
Filed Agreement are set forth below.

     -  Description of Michigan, Louisiana, and Virginia properties: see the 
        attached Exhibit A

     -  Purchase price for the Michigan, Louisiana, and Virginia properties:
        $58,974,193

     -  Allocation of purchase price among the Michigan, Louisiana, and 
        Virginia properties: see the attached Exhibit B
 
     -  Required deposit: $300,582

<PAGE>
                                   EXHIBIT A
         PRUDENTIAL MICHIGAN / OTHER STATES INDUSTRIAL PROPERTY PACKAGE

PRUDENTIAL
PROPERTY #     PROPERTY NAME                     LOCATION               EXHIBIT
00600000       Southfield Commercial Center      Southfield, MI          A-3 *
01152006       Huron Comm. Center-Lot 6(16)      New Boston, MI          A-4 *
01152026       Huron Comm. Center-Lot 26(11)     New Boston, MI          A-5 *
01152027       Huron Comm. Center-Lot 27(8)      New Boston, MI          A-6 *
21140001       Westhills Commerce Center         Farmington Hills, MI    A-9 *
21140002       H&J Industrial                    Farmington Hills, MI    A-10 *
00587000       Parkway Center                    New Orleans, LA         A-28 *
00802000       Cypress Point Business Center     New Orleans, LA         A-29 *
00910022       Riverbend Office/Service Center   St. Rose, LA            A-30 *
00910023       Riverbend Warehouse #2            St. Rose, LA            A-31 *
00930000       Riverbend Warehouse #1            St. Rose, LA            A-32 *
56510001       North Run III                     Richmond, VA            A-33 *
56510001       North Run IV                      Richmond, VA            A-34 *

* Attached
<PAGE>

EXHIBIT A-3
SOUTHFIELD COMMERCIAL CENTER
SOUTHFIELD, MI

Lots 41 through 44 inclusive, and Lots 46 through 48 inclusive, Iindustrial 
Ppark Ssubdivision, according to the recorded plat thereof, as recorded in 
Liber 138, of Plats, Pages 24 through 26, Oakland County records.
<PAGE>

EXHIBIT A-4
HURON COMMERCE CENTER
Future Plat Lot 4
17900 Woodland Drive

PARCEL C (HURON COMMERCE)

A PARCEL OF LAND LOCATED IN PART OF THE SW 1/4 OF THE NE 1/4 AND THE SE 1/4 
OF THE NW 1/4, AND THE NE 1/4 OF THE SW 1/4, AND THE NW 1/4 OF THE SE 1/4 OF 
SECTION 5, T.4S., R.9E., HURON TOWNSHIP, WAYNE COUNTY, MICHIGAN AND BEING 
MORE PARTICULARLY DESCRIBED AS FOLLOWS:

COMMENCING AT THE N. 1/4 CORNER OF SECTION 5, T.4S., R.9E., THENCE 
N88(28'31"E 464.28 FEET ALONG THE NORTH LINE OF SAID SECTION 5 AND THE 
CENTERLINE OF PENNSYLVANIA ROAD (66 FT. WIDE) TO THE INTERSECTION OF THE 
CENTERLINES OF PENNSYLVANIA ROAD AND PROPOSED COMMERCE DRIVE EASEMENT(86 FT. 
WIDE) TO THE SOUTH; THENCE S01(20'43"E 554.75 FEET ALONG THE CENTERLINE OF 
SAID COMMERCE DRIVE TO A POINT OF CURVATURE; THENCE ALONG A CURVE TO THE LEFT 
AND THE CENTERLINE OF SAID COMMERCE DRIVE AN ARC DISTANCE OF 794.81 FEET 
(SAID CURVE HAVING A RADIUS OF 1060.00 FEET, A CENTRAL ANGLE OF 42(57'42", A 
CHORD BEARING OF S22(49'34"E AND A CHORD DISTANCE OF 776.32 FEET), TO THE 
INTERSECTION OF THE CENTERLINES OF COMMERCE DRIVE AND PROPOSED WOODLAND DRIVE 
EASEMENT (86 FT. WIDE); THENCE S43(41'32"W 165.96 FEET ALONG THE CENTERLINE 
OF PROPOSED WOODLAND DRIVE (86 FT. WIDE) TO A POINT OF CURVATURE; THENCE 
ALONG A CURVE TO THE LEFT AND SAID CENTERLINE AN ARC DISTANCE OF 550.23 FEET 
(SAID CURVE HAVING A RADIUS OF 700.00 FEET, A CENTRAL ANGLE OF 45(02'15", A 
CHORD BEARING OF S21(10'24"W AND A CHORD DISTANCE OF 536.18 FEET); THENCE 
S01(20'43"E 148.28 FEET; THENCE S88(39'17"W 43.00 FEET TO THE POINT OF 
BEGINNING FOR THIS DESCRIPTION; THENCE S01(20'43"E 620.00 FEET ALONG THE 
WESTERLY LINE OF WOODLAND DRIVE EASEMENT (86 FT. WIDE); THENCE S88(39'17"W 
418.59 FEET TO A POINT ON THE EAST RIGHT-OF-WAY LINE OF THE CSX RAILROAD 
(FORMERLY KNOWN AS THE CHESAPEAKE AND OHIO RAILROAD); THENCE N01(36'45"W 
30.53 FEET ALONG SAID EAST RIGHT-OF-WAY LINE; THENCE N01(26'01"W 589.47 FEET; 
THENCE N88(39'17"E 419.64 FEET TO THE POINT OF BEGINNING.  CONTAINING 5.9512 
ACRES AND SUBJECT TO THE ROAD EASEMENTS FOR HURON COMMERCE FOR INGRESS AND 
EGRESS AND MAINTENANCE OF PUBLIC UTILITIES AND THE HURON COMMERCE ELECTRIC 
EASEMENT AND SUBJECT TO THE RIGHTS AND RESTRICTIONS OF RECORD OR OTHERWISE.
<PAGE>

EXHIBIT A-5
HURON COMMERCE CENTER
Future Lot 25
17757 Woodland Drive

PARCEL B (HURON COMMERCE)

A PARCEL OF LAND LOCATED IN PART OF THE SW 1/2 OF THE NE 1/4 OF SECTION 5, 
T.4S., R.9E., HURON TOWNSHIP, WAYNE COUNTY, MICHIGAN AND BEING MORE 
PARTICULARLY DESCRIBED AS FOLLOWS:

COMMENCING AT THE N. 1/4 CORNER OF SECTION 5, T.4S., R.9E., THENCE 
N88(28'31"E. 464.28 FEET ALONG THE NORTH LINE OF SAID SECTION 5 AND THE 
CENTERLINE OF PENNSYLVANIA ROAD (66 FT. WIDE) TO THE INTERSECTION OF THE 
CENTERLINES OF PENNSYLVANIA ROAD AND PROPOSED COMMERCE DRIVE EASEMENT (86 FT. 
WIDE) TO THE SOUTH; THENCE S01(20'43"E. 554.75 FEET ALONG THE CENTERLINE OF 
SAID COMMERCE DRIVE TO A POINT OF CURVATURE; THENCE ALONG A CURVE TO THE LEFT 
AND THE CENTERLINE OF SAID COMMERCE DRIVE AN ARC DISTANCE OF 794.81 FEET 
(SAID CURVE HAVING A RADIUS OF 1060.00 FEET, A CENTRAL ANGLE OF 42(57'42", A 
CHORD BEARING OF S.22(49'34"E. AND A CHORD DISTANCE OF 776.32 FEET), TO THE 
INTERSECTION OF THE CENTERLINES OF COMMERCE DRIVE AND PROPOSED WOODLAND DRIVE 
EASEMENT (86 FT. WIDE); AND THENCE S.43(41'32"W 165.96 FEET ALONG THE 
CENTERLINE OF PROPOSED WOODLAND DRIVE TO A POINT OF CURVATURE; THENCE ALONG A 
CURVE TO THE LEFT AND SAID CENTERLINE AN ARC DISTANCE OF 550.23 FEET (SAID 
CURVE HAVING A RADIUS OF 700.00 FEET, A CENTRAL ANGLE OF 45(02'15", A CHORD 
BEARING OF S21(10'24"W AND A CHORD DISTANCE OF 536.18 FEET); THENCE 
N88(39'17"E 43.00 FEET TO THE POINT OF BEGINNING FOR THIS DESCRIPTION; THENCE 
S01(20'43"E 373.34 FEET ALONG THE WESTERLY LINE OF PROPOSED WOODLAND DRIVE; 
THENCE N88(39'17"E 365.00 FEET; THENCE N01(20'43"W 505.00 FEET TO THE 
SOUTHEASTERLY CORNER OF PARCEL "A"; THENCE S88(39'17"W 351.67 FEET ALONG THE 
SOUTHERLY LINE OF PARCEL "A" TO A POINT ON THE EASTERLY LINE OF WOODLAND 
DRIVE; THENCE ALONG A CURVE TO THE LEFT AND THE EASTERLY LINE OF SAID 
WOODLAND DRIVE AN ARC DISTANCE OF 132.56 (SAID CURVE HAVING A RADIUS OF 
657.00 FEET, A CENTRAL ANGLE OF 11(33'38", A CHORD BEARING OF S04(26'02"W AND 
A CHORD DISTANCE OF 132.34 FEET TO THE POINT OF BEGINNING.  CONTAINING 4.2181 
ACRES AND SUBJECT TO THE ROAD EASEMENTS FOR HURON COMMERCE FOR INGRESS AND 
EGRESS AND MAINTENANCE OF PUBLIC UTILITIES AND THE HURON COMMERCE ELECTRIC 
EASEMENT AND SUBJECT TO THE RIGHTS AND RESTRICTIONS OF RECORD OR OTHERWISE.
<PAGE>

EXHIBIT A-6
HURON COMMERCE CENTER
Future Lot 26
17608 Commerce Drive

PARCEL A (HURON COMMERCE)

A PARCEL OF LAND LOCATED IN PART OF THE SW 1/4 OF THE NE 1/4 OF SECTION 5, 
T.4S., R.9E., HURON TOWNSHIP, WAYNE COUNTY, MICHIGAN AND BEING MORE 
PARTICULARLY DESCRIBED AS FOLLOWS:

COMMENCING AT THE N 1/4 CORNER OF SECTION 5, T.4S., R.9E., THENCE N88(28'31"E 
464.28 FEET ALONG THE NORTH LINE OF SAID SECTION 5 AND THE CENTERLINE OF 
PENNSYLVANIA ROAD (66 FEET WIDE) TO THE INTERSECTION OF THE CENTERLINES OF 
PENNSYLVANIA ROAD AND PROPOSED COMMERCE DRIVE EASEMENT (86 FT. WIDE) TO THE 
SOUTH; THENCE S01(20'43"E 554.75 FEET ALONG THE CENTERLINE OF SAID COMMERCE 
DRIVE TO A POINT OF CURVATURE; THENCE ALONG A CURVE TO THE LEFT AND THE 
CENTERLINE OF SAID COMMERCE DRIVE AN ARC DISTANCE OF 831.83 FEET (SAID CURVE 
HAVING A RADIUS OF 1060.00 FEET, A CENTRAL ANGLE OF 44(57'45", A CHORD 
BEARING OF S23(49'35"E AND A CHORD DISTANCE OF 810.65 FEET); THENCE 
S46(18'28"E 5.99 FEET ALONG THE CENTERLINE OF SAID COMMERCE DRIVE (86 FT. 
WIDE) TO THE BEGINNING OF THE CENTERLINE OF PROPOSED COMMERCE DRIVE (60 FT. 
WIDE); THENCE S43(41'32"W 30.00 FEET TO THE INTERSECTION OF THE EASTERLY LINE 
OF PROPOSED WOODLAND DRIVE EASEMENT (86 FT. WIDE) AND THE SOUTHERLY LINE OF 
COMMERCE DRIVE (60 FT. WIDE) BEING THE POINT OF BEGINNING OF THIS 
DESCRIPTION; THENCE S46(18'28"E 357.50 FEET ALONG SAID SOUTHERLY LINE OF 
COMMERCE DRIVE; THENCE S 43(41'32"W 248.88 FEET TO THE NORTHEASTERLY CORNER 
OF PARCEL "B"; THENCE S88(39'17"W 351.67 FEET ALONG THE NORTH LINE OF PARCEL 
"B" TO A POINT ON THE EASTERLY LINE OF THE WOODLAND DRIVE (86 FT. WIDE); 
THENCE ALONG A CURVE TO THE RIGHT ALSO BEING THE EASTERLY LINE OF WOODLAND 
DRIVE, AN ARC DISTANCE OF 383.87 FEET (SAID CURVE HAVING A RADIUS OF 657.00 
FEET, A CENTRAL ANGLE OF 33(28'37", A CHORD BEARING OF N26(57'13"E AND A 
CHORD DISTANCE OF 378.44 FEET) TO A POINT OF TANGENCY; THENCE N43(41'32"E 
135.32 FEET TO THE POINT OF BEGINNING.  CONTAINING 3.0836 ACRES AND SUBJECT 
TO THE ROAD EASEMENTS FOR HURON COMMERCE FOR INGRESS AND EGRESS AND 
MAINTENANCE OF PUBLIC UTILITIES AND THE HURON COMMERCE ELECTRIC EASEMENT AND 
SUBJECT TO THE RIGHTS AND RESTRICTIONS OF RECORD OR OTHERWISE.
<PAGE>

ROAD EASEMENT DESCRIPTIONS (HURON COMMERCE)

A PARCEL OF LAND LOCATED IN PART OF THE E 1/2 OF SECTION 5, T.4S., R.9E., 
HURON TOWNSHIP, WAYNE COUNTY, MICHIGAN FOR THE PURPOSES OF INGRESS AND EGRESS 
STORM WATER DRAINAGE, AND THE MAINTENANCE OF PUBLIC UTILITIES AND BEING MORE 
PARTICULARLY DESCRIBED AS FOLLOWS:

COMMENCING AT THE N 1/4 CORNER OF SECTION 5, T.4S., R.9E., THENCE N88(28'31"E 
464.28 FEET ALONG THE CENTERLINE OF PENNSYLVANIA ROAD (CURRENTLY 66 FEET 
WIDE) AND THE NORTH LINE OF SAID SECTION 5; THENCE S01(20'43"E 33.00 FEET TO 
A POINT "A1" AND THE POINT OF BEGINNING OF THE CENTERLINE OF COMMERCE DRIVE 
EASEMENT (PROPOSED TO BE 86 FEET WIDE); THENCE ALONG SAID CENTERLINE OF 
PROPOSED COMMERCE DRIVE THE FOLLOWING 4 COURSES AND DISTANCES: 1) S01(20'43"E 
521.75 FEET TO A POINT OF CURVATURE; 2) THENCE ALONG A CURVE TO THE LEFT AN 
ARC DISTANCE OF 794.81 FEET TO A POINT "B1" (SAID CURVE HAVING A RADIUS OF 
1060.00 FEET, A CENTRAL ANGLE OF 42(57'42", A CHORD BEARING OF S22(49'34"E, 
AND A CHORD DISTANCE OF 776.32 FEET); 3) THENCE CONTINUING ALONG A CURVE TO 
THE LEFT AN ARC DISTANCE OF 37.02 FEET TO A POINT OF TANGENCY (SAID CURVE 
HAVING A RADIUS OF 1060.00 FEET, A CENTRAL ANGLE OF 02(00'03", A CHORD 
BEARING OF S45(18'20"E, AND A CHORD DISTANCE OF 37.01 FEET); 4) THENCE 
S46(18'28"E 5.99 FEET TO THE END OF PROPOSED COMMERCE DRIVE AS AN 86 FOOT 
WIDE EASEMENT AND THE BEGINNING OF SAID COMMERCE DRIVE AS A 60 FT. EASEMENT; 
THENCE CONTINUING ALONG THE CENTERLINE OF SAID COMMERCE DRIVE AS A 60 FOOT 
EASEMENT THE FOLLOWING COURSES AND DISTANCES: 1) S46(18'28"E 470.92 FEET TO A 
POINT OF CURVATURE; 2) THENCE ALONG A CURVE TO THE RIGHT AN ARC DISTANCE OF 
708.21 FEET (SAID CURVE HAVING A RADIUS OF 575.00 FEET, A CENTRAL ANGLE OF 
70(34'10", A CHORD BEARING OF S11(01'23"E, AND A CHORD DISTANCE OF 664.28 
FEET); 3) THENCE S24(15'42"W 190.74 FEET TO A POINT OF CURVATURE; 4) THENCE 
ALONG A CURVE TO THE LEFT AN ARC DISTANCE OF 187.60 FEET (SAID CURVE HAVING A 
RADIUS OF 475.00 FEET, A CENTRAL ANGLE OF 22(37'45", A CHORD BEARING OF 
S12(56'51"W, AND A CHORD DISTANCE OF 186.39 FEET); 5) THENCE S01(37'56"W 
799.17 FEET TO A POINT OF CURVATURE; 6) THENCE ALONG A CURVE TO THE RIGHT AN 
ARC DISTANCE OF 381.81 FEET (SAID CURVE HAVING A RADIUS OF 800.00 FEET, A 
CENTRAL ANGLE OF 27(20'42", A CHORD BEARING OF S 15(18'19"W, AND A CHORD 
DISTANCE OF 378.19 FEET); 7) THENCE S 28(58'38"W 150.38 FEET TO A POINT OF 
CURVATURE;
<PAGE>

ROAD EASEMENT DESCRIPTIONS (HURON COMMERCE)PAGE 2

8) THENCE ALONG A CURVE TO THE RIGHT AN ARC DISTANCE OF 273.34 FEET (SAID 
CURVE HAVING A RADIUS OF 805.00 FEET, A CENTRAL ANGLE OF 19(27'17", A CHORD 
BEARING OF S38(42'17"W, AND A CHORD DISTANCE OF 272.03 FEET); 9) THENCE 
S48(25'56"W 81.71 FEET TO A POINT OF CURVATURE; 10) THENCE ALONG A CURVE TO 
THE RIGHT AN ARC DISTANCE OF 264.07 FEET (SAID CURVE HAVING A RADIUS OF 
375.00 FEET, A CENTRAL ANGLE OF 40(20'48", A CHORD BEARING OF S68(36'17"W, 
AND A CHORD DISTANCE OF 258.65 FEET); 11) THENCE S88(46'44"W 63.66 FEET TO 
THE POINT OF ENDING OF THE CENTERLINE OF COMMERCE DRIVE EASEMENT PROPOSED TO 
BE 60 FEET WIDE, SAID POINT OF ENDING ALSO BEING ON THE EAST LINE OF WOODLAND 
DRIVE (PROPOSED TO BE 86 FEET WIDE) AND DESCRIBED AS FOLLOWS:

COMMENCING AT POINT "B1"; THENCE S43(41'32"W 43.00 FEET TO THE POINT OF 
BEGINNING OF THE CENTERLINE OF WOODLAND DRIVE EASEMENT (PROPOSED TO BE 86 
FEET WIDE) SAID POINT OF BEGINNING ALSO BEING ON THE SOUTHWESTERLY LINE OF 
SAID COMMERCE DRIVE (PROPOSED TO BE 86 FEET WIDE); THENCE ALONG SAID 
CENTERLINE OF WOODLAND DRIVE THE FOLLOWING COURSES AND DISTANCES: 1) 
S43(41'32"W 122.96 FEET TO A POINT OF CURVATURE; 2) THENCE ALONG A CURVE TO 
THE LEFT AN ARC DISTANCE OF 550.24 FEET (SAID CURVE HAVING A RADIUS OF 700.00 
FEET, A CENTRAL ANGLE OF 45(02'15", A CHORD BEARING OF S21(10'24"W, AND A 
CHORD DISTANCE OF 536.18 FEET); 3) THENCE S01(20'43"E 1369.52 FEET TO A POINT 
OF CURVATURE; 4) THENCE ALONG A CURVE TO THE RIGHT AN ARC DISTANCE OF 200.68 
FEET (SAID CURVE HAVING A RADIUS OF 525.00 FEET, A CENTRAL ANGLE OF 
21(54'06", A CHORD BEARING OF S09(36'15"W, AND A CHORD DISTANCE OF 199.46 
FEET); 5) THENCE S20(33'23"W 180.57 FEET TO A POINT OF CURVATURE; 6) THENCE 
ALONG A CURVE TO THE LEFT AN ARC DISTANCE OF 199.55 FEET (SAID CURVE HAVING A 
RADIUS OF 525.00 FEET; A CENTRAL ANGLE OF 21(46'39", A CHORD BEARING OF S 
09(40'04"W, AND A CHORD DISTANCE OF 198.35 FEET); 7) THENCE S01(13'16"E 
501.08 FEET TO A POINT "C1", SAID POINT BEING ON THE CENTERLINE OF PROPOSED 
WOODLAND DRIVE (86 FT. WIDE).

ALSO BEGINNING FROM POINT "C1"; THENCE N88(46'44"E 45.37 FEET TO THE 
INTERSECTION OF THE EAST LINE OF PROPOSED WOODLAND DRIVE EASEMENT (WIDTH NOW 
VARIES) AND THE SOUTH LINE OF COMMERCE DRIVE EASEMENT (60 FT. WIDE); THENCE 
S01(17'16"E 870.08 FEET ALONG SAID EAST LINE OF W00DLAND DRIVE TO THE NORTH 
RIGHT-OF-WAY LINE OF SIBLEY ROAD (1/2 WIDTH 75 FT. WIDE); THENCE S88(47'37"W 
114.38 FEET ALONG SAID NORTH LINE OF SIBLEY ROAD TO THE WEST LINE OF WOODLAND 
DRIVE (WIDTH VARIES); THENCE THE FOLLOWING COURSES AND DISTANCES ALONG THE 
WEST LINE OF WOODLAND DRIVE: 1) N01(13'16"W 113.81 FEET; 2) N09(42'07"E 
131.93 FEET; 3) N01(13'16"W 626.69 FEET; THENCE N88(46'44"E 43.00 FEET TO 
POINT C1.
<PAGE>

ROAD EASEMENT DESCRIPTIONS (HURON COMMERCE)PAGE 3


ALSO COMMENCING AT POINT "A1"; THENCE N88(28'31"E 43.00 FEET ALONG THE SOUTH 
RIGHT-OF-WAY LINE OF PENNSYLVANIA ROAD (CURRENTLY 66 FEET WIDE) TO THE POINT 
OF BEGINNING OF A BOULEVARD SECTION OF PROPOSED COMMERCE DRIVE EASEMENT; 
THENCE CONTINUING N88(28'31"E 1.26 FEET ALONG SAID NORTH LINE OF PENNSYLVANIA 
ROAD TO A POINT ON THE MICHIGAN DEPARTMENT OF TRANSPORTATION RIGHT-OF-WAY; 
THENCE S01(31'30"E 17.00 FEET; THENCE ALONG THE SOUTH LINE OF THE MDOT 50 
FOOT RIGHT-OF-WAY N88(28'31"E 22.69 FEET TO THE EAST LINE OF THE BOULEVARD 
SECTION OF THE PROPOSED COMMERCE DRIVE EASEMENT; THENCE ALONG THE EAST LINE 
OF SAID BOULEVARD THE FOLLOWING TWO COURSES: 1) S01(20'43"E 84.19 FEET; 2) 
S09(57'53"W 122.37 FEET TO THE EAST LINE OF COMMERCE DRIVE EASEMENT (86 FEET 
WIDE); THENCE N01(20'43"W 221.11 FEET TO THE POINT OF BEGINNING OF THIS 
SECTION OF COMMERCE DRIVE BOULEVARD.
<PAGE>

EXHIBIT A-9
WESTHILLS COMMERCE CENTER
FARMINGTON HILLS, MI

A part of the southeast 1/4 of Section 19, Town 1 North, Range 9 East, city 
of Farmington Hills, Oakland County, Michigan, more particularly described as 
follows:

Commencing at the east 1/4 corner of said Section 19, Town 1 North, Range 9 
East; thence due south along the east section line, 403.06 feet to the point 
of beginning; thence continuing due south along said east section line, 
401.10 feet; thence south 89 degrees 42 minutes 37 seconds west, 432.16 feet; 
thence north 0 degrees 08 minutes 00 seconds east, 401.10 feet; thence north 
89 degrees 42 minutes 40 seconds east, 431.62 feet to the point of beginning, 
except the east 60 feet for road purposes.
<PAGE>

EXHIBIT A-10
H&J INDUSTRIAL
FARMINGTON HILLS, MI

Lot 39 and that part of Lot 40, Farmington Freeway industrial park No. 3, as 
recorded in Liber 127 of Plats, Pages 8, 9 and 10, Oakland County records, 
described as:

Beginning at the northeast corner of said Lot 40; thence south 72 degrees 31 
minutes 00 seconds west, 126.06 feet; thence south 20 degrees 48 minutes 43 
seconds east, 29.37 feet to a point on the north right-of-way of Research 
Drive (70 feet wide); thence north 69 degrees 11 minutes 17 seconds east 
along said right-of-way, 52.40 feet; thence continuing along said 
right-of-way northeasterly on a curve to the left, 77.78 feet to the point of 
beginning.
<PAGE>

EXHIBIT A-28
PARKWAY CENTER
NEW ORLEANS, LA

LOT 15, PARCEL 1, ELMWOOD INDUSTRIAL PARK

A CERTAIN PIECE OR PORTION OF GROUND, together with all the buildings and 
improvements thereon, situated in the Parish of Jefferson, State of 
Louisiana, designated as Lot 15 of Parcel 1, Elmwood Industrial Park, on a 
plan of subdivision by J. J. Krebs & Sons, Inc., dated August 28, 1973, 
approved by the Jefferson Parish Council on September 27, 1973, by Ordinance 
No. 11367, registered in COB 801, folio 825, and according to which plan said 
Parcel 1 is bounded by Pepsi Street, Elmwood Parkway (formerly Wholesalers 
Parkway), Edwards Avenue, Commerce Point and Jefferson Highway and Lot 15 is 
more particularly described as follows:

Begin at the intersection of the southerly right of way line of Pepsi Street 
and the westerly right of way line of Elmwood Parkway, the point of 
beginning. Measure thence from the point of beginning along said westerly 
line S18(37'56"E a distance of 275.05'; thence S41(12'39"W  a distance of 
655.52'; thence S41(54'49"W a distance of 31.91'; thence N34(07'04"E a 
distance of 58.57'; thence in a northerly direction along the arc of a curve 
to the left having a radius of 440.75' an arc length of 405.78', a chord of 
N07(44'34"E a chord distance of 391.60'; thence N18(37'56"W a distance of 
236.40'to a point on the southerly right of way line of Pepsi Street; thence 
along said southerly line N71(44'19"E a distance of 374.00' to a point on the 
westerly right of way line of Elmwood Parkway, the point of beginning.

All as more fully shown on plan of survey by Krebs, LaSalle, LeMieux 
Consultants, Inc. dated February 26, 1997.
<PAGE>

EXHIBIT A-29
CYPRESS POINT BUSINESS CENTER
NEW ORLEANS, LA

Lot 7 - ELMWOOD INDUSTRIAL PARK, PARCEL 2

A certain piece or portion of ground, together with all the buildings and 
improvements thereon, situated in the Parish of Jefferson, Elmwood Industrial 
Park, Parcel 2 designated L0T 7 as identified on a plan of resubdivision by 
J. J. Krebs & Sons, Inc. dated January 21, 1977, approved by the Jefferson 
Parish Council Ordinance No 12848 on May 5, 1977 and registered in COB 892, 
folio 796, and more fully described as follows:

Commence at the intersection of the northerly right of way line of Pepsi 
Street and the westerly right of way line of Distributors Row, thence along 
said westerly line N18(15'15"W a distance of 275.00 feet to a point, the 
point of beginning.
Measure thence from the point of beginning S71(44'45"W a distance of 445.35 
feet to a point;

thence N18(15'41"W a distance of 314.70 feet to a point;

thence N71(44'45"E a distance of 445.40 feet to a point on the westerly right 
of way line of Distributors Row;

thence along said line S18(15'15"E a distance of 314.70 feet to the point of 
beginning.

Said LOT 7 has an area of 139,754.42 square feet or 3.208 acres, more or less.

All as more fully shown on a plan by Krebs, LaSalle, LeMieux Consultants, 
Inc. dated February 28, 1997. 
<PAGE>

EXHIBIT A-30
RIVERBEND OFFICE/SERVICE CENTER
ST. ROSE, LA

TRACT I

A CERTAIN PIECE OR PORTION OF GROUND, together with all the buildings and 
improvements thereon, situated in Section 39, Township 12 South, Range 9 
East, Parish of St. Charles, in the Southeastern District of the State of 
Louisiana on the left descending bank of the Mississippi River, being a 
portion of the upper portion of Fairview Plantation on the East Bank 
of
the Mississippi River, identified as Parcel FP-1 on a plan of re-subdivision 
of Gerald Swanson, dated November 2, 1982, approved by the Parish of St. 
Charles Ordinance No. 83-1-9 on January 18, 1983, filed in COB 292, folio 
734, and according to said plan, Parcel FP-1 is more particularly described 
as follows:

Begin at the intersection of the southerly right of way line of Airline 
Highway and the easterly right of way line of Riverbend Boulevard; thence 
along the southerly right of way of Airline Highway N72(51'35"E a distance of 
410 feet to a point; 

thence S16(10'00"E a distance of 575.08 feet to a point;

thence S72(51'35"W a distance of 410 feet to a point on the easterly right of 
way line of Riverbend Boulevard;

thence along said right of way line N16(10'00"W a distance of 575.08 feet to 
the point of beginning.

TRACT II


A CERTAIN PIECE OR PORTION OF GROUND, together with all the buildings and 
improvements thereon, situated in the Parish of St. Charles, State of 
Louisiana in that area known as Riverbend Business Park and identified as Lot 
7-A on a plan of re-subdivision of Gerald Swanson, Land Surveyor, dated March 
28, 1989, approved by the Parish of St. Charles Council on April 21, 1989, 
filed on April 25, 1989 in COB 404, folio 519, and in accordance with said 
plan, Lot 7-A is more particularly described as follows:

Begin at the intersection of the easterly right of way line of Riverbend 
Boulevard and the northerly right of way line of Y. & M. V. Railroad, thence 
along the easterly right of way line of Riverbend Boulevard along a curve to 
the left, with a radius of 193.42 feet, an arc length of 118.17 feet, a chord 
of N73(40'08"W, a chord length of 116.35 feet to a reverse curve;

<PAGE>

thence along a curve to the right having a radius of 125.40 feet, an arc 
length of 162.20 feet, a chord of N54(07'02"W, a chord length of 151.13 feet 
to a point on the southerly right of way line of the L. & A. Railroad right 
of way line;

thence along said right of way line N72(56'16"E a distance of 434.62 feet to 
a point on the line common to Lots 7-A and 7-B;

thence S25(02'00"E a distance of 148.69 feet to a point on the northerly 
right of way line of Y. & M. V. Railroad; 

thence S64(58'00"W a distance of 269.65 feet to a point on the easterly right 
of way line of River Bend Boulevard, the point of beginning.


<PAGE>

EXHIBIT A-31
RIVERBEND WAREHOUSE #2
ST. ROSE, LA

A CERTAIN PIECE OR PORTION OF GROUND, together with all the buildings and 
improvements thereon, situated in the State of Louisiana, St. Charles Parish, 
Section 39, T12S, R9E, in that area known as Riverbend Business Park and 
identified as LOT 4-A on a plan of re-subdivision prepared by J. J. Krebs & 
Sons, Inc., dated September 7, 1990, Job No. 900511, approved by St. Charles 
Parish on September 17, 1990, and filed in COB 428, folio 518, and in 
accordance with said plan of re-subdivision, LOT 4-A is more particularly 
described as follows: Begin at the near point of curvature of the northwest 
intersection of Delta Drive and Jefferson Highway; thence along the arc of a 
curve to the right having a radius of 35 feet a length of 39.56 feet to a 
point on the northerly right of way line of Jefferson Highway;

thence S48(36'00"W a distance of 381.86 feet to a point;

thence N16(10'00"W a distance of 1,012.15 feet to a point;

thence N73(50'00"E a distance of 365.50 feet to a point on the westerly right 
of way line of Delta Drive;

thence along said right of way line S16(10'00"E a distance of 817.70 feet to 
the point of beginning.
<PAGE>

EXHIBIT A-32
RIBERBEND WAREHOUSE #1
ST. ROSE, LA

A CERTAIN PIECE OR PORTION OF GROUND, together with all the buildings and 
improvements thereon, situated in the State of Louisiana, St. Charles Parish, 
Section 39, T12S, R9E, in that area known as Riverbend Business Park and 
identified as LOT 3 on a plan of re-subdivision prepared by J. J. Krebs & 
Sons, dated May 16, 1980, Dwg. No. G-73-003-02-A, and approved by St. Charles 
Parish Police Jury Ordinance No. 84-5-3, authorizing an Act of
Dedication
filed in COB 315, folio 394, and in accordance with said plan of 
re-subdivision, Lot 3 is more particularly described as follows:

Begin at the near point of curvature of the northeast intersection of 
Jefferson Highway and River Bend Boulevard, thence along the easterly right 
of way line of River Bend Boulevard, N16(10'00"W a distance of 1,706.00 feet 
to a point;

thence along the arc of a curve to the right having a radius of 35 feet an 
arc length of 49.56 feet, chord bearing of N42(24(00(E a chord distance of 
45.52 feet to a point of tangency;

thence N64(58'00"E a distance of 339.95 feet to a point;

thence S16(10'00"E a distance of 1,675.92 feet to a point on the northerly 
right of way line of Jefferson Highway;

thence along said northerly right of way line S48(39'00W a distance of 348.87 
feet to a point;

thence along the arc of a curve to the right; having a radius of 35 feet an 
arc length of 70.39 feet, chord bearing of N73(47(00(W a chord distance of 
59.11 to the point of beginning.

Improvements thereon bear Municipal No. 100 River Bend Boulevard.

A CERTAIN PIECE OR PORTION OF GROUND, together with all the buildings and 
improvements thereon, situated in the Parish of Jefferson, in that area known 
as Elmwood Industrial Park, Parcel 2 thereof, and identified as Lot 7 on a 
plan of re-subdivision of J.J. Krebs & Sons, Inc., dated January 21, 1977, 
approved by Jefferson Parish Council Ordinance No. 12848 on May 5, 1977 and 
registered in COB 892, folio 796, and in accordance with said plan of 
re-subdivision, said Lot 7 is more particularly described as follows:

Commence at the southwest intersection of Mounes Street and Distributors Row, 
thence along the westerly right of way line of Distributors Row S18(15'15"E a 
distance of 314.70 feet to a point;

thence leaving said right of way S71(44'45"W a distance of 445.35 feet to a 
point;
<PAGE>

thence N(14'41"W a distance of 314.70 feet to a point;

thence N71(44'45"E a distance of 445.40 feet to the point of beginning.
<PAGE>

EXHIBIT A-33
NORTH RUN III
RICHMOND, VA

ALL that certain lot, piece or parcel of land, situate, lying and being in 
Henrico County, Virginia, together with the improvements thereon and 
appurtenances thereunto belonging containing 5.262 acres and designated as 
Parcel B, as shown on that certain plat entitled "Plat Showing 35.4 + acres 
of land lying on the North Line of Parham Road", dated September 30, 1986, 
last revised October 17, 1989, prepared by J.K. Timmons & Associates, P.C., a 
copy of which plat is recorded in the Clerk's Office of the Circuit Court of 
the County of Henrico, Virginia (the "Clerk's Office") in Plat Book 88, page 
274 and to which plat reference is made for a more particular description of 
the property hereby conveyed.

TOGETHER WITH all the rights granted to CMANE-Richmond #1 Limited 
Partnership, a Texas limited partnership, pursuant to that certain Shared 
Access and Storm Drainage Easement Agreement dated December 1, 1989, recorded 
January 16, 1990, in the Clerk's Office in Deed Book 2224, page 1944.

Being the same property shown on plat of survey prepared by William F. Ware, 
Jr., of Timmons, dated March 25, 1997, Job No. 17186, and described as 
follows:

Beginning at a point on the west line of Joi drive; thence N 86(45'35" E, 
947.32'; thence S 43(12'15" E, 62.23' to a rod found, said rod being the true 
point and place of beginning, marked P.O.B.; thence S 43(12'15" E, 484.63' to 
a point (said point being referenced by a rod found 2.00' away on line of the 
following course); thence S 46(47'45" W, 67.00' to a rod found; thence S 
20(28'26" W, 277.68' to a rod found said rod being on north line of East 
Parham Road, thence along said north line of East Parham Road along a curve 
to the left, previous course being radial to said curve, having a radius of 
1195.92', an included angle of 1(50'26", and a length of 38.42' to a rod set; 
thence leaving said north line of East Parham Road N 18(38'00" E, 13.00' to a 
rod set; thence along a curve to the left, previous course being radial to 
said curve, having a radius of 1208.92', an included angle of 0(57'28", and a 
length of 20.21' to a rod set; thence S 17(40'30" W, 13.00' to a rod set, 
said rod being on the north line of East Parham Road; thence along said north 
line of East Parham Road along a curve to the left, previous course being 
radial to said curve, having a radius of 1195.92', an included angle of 
16(35'54" and a length of 346.45' to a rod found; thence leaving said north 
line of East Parham Road N 1(47'45" E, 398.61' to a nail set; thence N 
46(47'45" E, 270.99' to the true point and place of beginning containing 
5.262 acres, 229,213 square feet.
<PAGE>

EXHIBIT A-34
NORTH RUN IV
RICHMOND, VA

ALL that certain lot, piece or parcel of land, situate, lying and being in 
Henrico County, Virginia, together with the improvements thereon and 
appurtenances thereunto belonging containing 7.185 acres and designated as 
Parcel B 1, as shown on that certain plat entitled "Plat Showing 35.4 + acres 
of land lying on the North Line of Parham Road" (the "Survey"), dated 
September 30, 1986, last revised October 17, 1989, prepared by J.K. Timmons & 
Associates, P.C., a copy of which plat is recorded in the Clerk's Office of 
the Circuit Court of the County of Henrico, Virginia (the "Clerk's Office") 
in Plat Book 88, page 274 and to which plat reference is made for a more 
particular description of the property hereby conveyed.

TOGETHER WITH all the rights granted to CMANE-Richmond #1 Limited 
Partnership, a Texas limited partnership, pursuant to that certain Shared 
Access and Storm Drainage Easement Agreement dated December 1, 1989, recorded 
January 16, 1990, in the Clerk's Office in Deed Book 2224, page 1944.

Being the same property shown on plat of survey prepared by William F. Ware, 
Jr., of Timmons, dated March 25, 1997, Job No. 17186, and described as 
follows:

Beginning at a rod found, marked P.O.B., said point being N 86(45'35" E, 
651.74' to a rod found; thence S 43(12'15" E, 62.23' to a rod found; thence S 
46(47'45" W, 270.99' to a nail set; thence S 1(47'45" W, 398.61' to a rod 
found on the north line of East Parham Road; thence along said north line of 
East Parham Road along a curve to the left having a radius of 1195.92', a 
length of 6.13' a chord bearing of N 89(04'12" W, and a chord of 6.13' to a 
rod set; thence continuing along the north line of East Parham Road N 
89(13'00" W, 495.56' to a nail set; thence leaving the said north line of 
East Parham Road N 1(47'45" E, 84.63' to a nail set; thence S 88(12'15" E, 
35.00' to a nail found; thence N 1(47'45" E, 418.99' to a nail; thence S 
86(45'35" W, 35.14' to a rod set; thence N 1(47'45" E, 85.33' to the true 
point and place of beginning; containing 7.185 acres, 312,992 square feet.
<PAGE>

EXHIBIT B
ALLOCATION OF PURCHASE PRICE

PROJECT DESCRIBED                             ALLOCATED PRICE
A-3   Southfield Commercial                   $3,590,132
A-4   Huron  17900 Woodland Drive             $3,599,204
A-5   Huron  17757 Woodland Drive             $2,612,093
A-6   Huron  17608 Commerce Drive             $1,896,127
A-9   Westhills Commerce                      $2,840,299
A-10  H&J Industrial                          $2,927,901
A-28  Parkway Center                          $7,027,753
A-29  Cypress Point Bus. Center               $2,177,986
A-30  Riverbend Office/Service Center         $2,242,640
A-31  Riverbend Warehouse #2                  $5,388,573
A-32  Riverbend Warehouse #1                  $11,684,329
A-33  North Run III                           $5,070,705
A-34  North Run IV                            $7,916,451