Pro Forma Results of the Company

The following pro forma consolidated results of operations of the Company for the three and nine months ended September 30, 2012 and 2011 assumes that the acquisitions of 4100-4700 Bohannon Drive, Menlo Park, CA, and 10900 Northeast 4th Street, Bellevue, WA were completed as of January 1, 2011. Pro forma data may not be indicative of the results that would have been reported had the acquisitions actually occurred as of January 1, 2011, nor does it intend to be a projection of future results.



	Three Months Ended ⁽¹⁾ September 30,					Nine Months Ended ⁽¹⁾ September 30,
	2012			2011		2012		2011
	(in thousands except per share amounts)

Revenues	$	104,910		$	93,882	$	303,014	$	261,853
Net (loss) income available to common stockholders⁽²⁾⁽³⁾	$	(2,793	)	$	9,841	$	62,202	$	4,918
Net (loss) income available to common stockholders per share - basic⁽²⁾⁽³⁾	$	(0.04	)	$	0.17	$	0.90	$	0.07
Net (loss) income available to common stockholders per share - diluted⁽²⁾⁽³⁾	$	(0.04	)	$	0.17	$	0.90	$	0.07

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(1)	The purchase of 4100-4700 Bohannon Drive, Menlo Park, CA and 10900 Northeast 4th Street, Bellevue, WA, represent the largest acquisitions and 61% of the total aggregate purchase price of the operating properties acquired during the nine months ended September 30, 2012.

(2)

The pro forma results for the three and nine months ended September 30, 2012 were adjusted to exclude acquisition-related expenses of approximately $0.2 million and $0.9 million, respectively, incurred in 2012 for the acquisition of 4100-4700 Bohannon Drive, Menlo Park, CA and 10900 Northeast 4th Street, Bellevue, WA. The pro forma results for the three and nine months ended September 30, 2011 were adjusted to include these expenses.

(3)

The pro forma results for all periods presented includes incremental interest expense assuming the acquisitions were funded by pro forma borrowings under the Credit Facility. The pro forma interest expense estimate is calculated based on the actual interest rate in effect on the Credit Facility for each respective period. Actual funding of the acquisitions may be from different sources and the pro forma borrowings and related pro forma interest expense estimate assumed herein are not indicative of actual results.

The following table summarizes the results of operations for the properties at 4100-4700 Bohannon Drive, Menlo Park, CA, and 10900 Northeast 4th Street, Bellevue, WA from February 29, 2012 and July 24, 2012, the dates of acquisition, respectively, through September 30, 2012:



	(in thousands)
Revenues	$	11,248
Net income⁽¹⁾	2,342

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(1)	Reflects the net operating income less depreciation for these properties and amortization of lease-related intangibles.