EXHIBIT 99
CRT PROPERTIES, INC.
225 NE Mizner Blvd., Suite 200
Boca Raton, Florida 33432

Contact:
Thomas C. Brockwell
Executive Vice President
CRT Properties, Inc.
(561) 395-9666

NEWS

CRT Properties Announces Second Quarter Earnings
Company Updates 2004 Guidance

BOCA RATON, Fla.—(BUSINESS WIRE)—August 3, 2004—CRT Properties, Inc. (NYSE: CRO), formerly known as Koger Equity, Inc., today reported results for the second quarter ended June 30, 2004. Net income available to common shareholders for the second quarter 2004 totaled $3.0 million, or $0.11 per diluted share, compared to $3.5 million, or $0.16 per diluted share, for the second quarter 2003. Funds from operations (FFO) was $13.0 million, or $0.48 per diluted share, versus $11.1 million, or $0.52 per diluted share a year ago.

During the second quarter ended June 30, 2004, the company executed 611,000 square feet of leases resulting in 79,000 square feet of net positive absorption. Activity was particularly brisk in the company’s two largest markets, Atlanta and Jacksonville, with 69,000 and 39,000 square feet of net absorption, respectively. Expirations totaled 532,000 square feet of which 307,000 or 58% were renewed.

“Job creation in the company’s competitive markets continued its upward trend as 65,000 new jobs were added during the quarter, more than double the number of jobs added only a year ago. We are pleased with our recent performance and encouraged about our leasing prospects in light of the positive trend in jobs,” said Chief Executive Officer Thomas J. Crocker.

Significant leasing transactions during the quarter included:

• New ten year, 55,000 square foot lease at Atlanta Three Ravinia with GMAC Commercial Mortgage Corp.

• New seven year, 25,000 square foot lease at Atlanta McGinnis Park with The University of Phoenix.

• New eleven year, 17,000 square foot lease at Atlanta Chamblee with Strayer University, Inc.

• Two year, 41,000 square foot renewal at Jacksonville Baymeadows with Blue Cross and Blue Shield of Florida, Inc.

• One year, 37,000 square foot renewal at St. Petersburg with The United States Department of Commerce.

• Seven year, 21,000 square foot renewal at Charlotte University with Huber Engineered Wood.

The GAAP weighted average gross rental rate on backfill and renewal leases (excluding first generation space) for the year is now $17.51 per square foot compared to $17.44 per square foot on expiring leases. The average annual cost per square foot on new and renewal leasing, for leases in excess of one year, was $2.80 for the quarter.

The Company’s portfolio ended the second quarter 2004 with an 80.1% overall occupancy rate compared to 80.3% at the end of the first quarter 2004 and 82.4% for the same period last year. The same store portfolio was 83.1% occupied at the end of the second quarter 2004 up slightly compared to 82.8% at the end of the first quarter 2004 and down from 85.7% for the same period last year. The Company’s properties acquired after December 31, 2001, which are not included in the same-store universe, were 73.4% occupied on June 30, 2004, compared to 74.6% on March 31, 2004 and to 70.9% on June 30, 2003.

CRT’s total operating revenues for the second quarter 2004 increased 13.6% to $41.0 million from $36.1 million in the second quarter 2003. Net operating income of acquisition properties increased $3.6 million as compared to second quarter 2003, but same store net operating income decreased $0.5 million or 2.6% compared to the second quarter 2003.

Significant acquisitions and other capital transactions during the quarter included:

• On April 2, 2004, the Company acquired two three-story office buildings totaling 155,000 square feet, a ground lease and a 3.2 acre undeveloped land parcel all located in the Decoverly Office Park in Rockville, Maryland for a purchase price of $42.0 million plus closing and other costs.

• On April 21, 2004, the Company amended its $75.9 million loan agreement on Atlantic Center Plaza, extending the maturity of the loan from January 1, 2005 to January 1, 2015 and fixing the interest rate at 5.49% effective January 1, 2005. In accordance with the terms of the amended loan agreement, the Company will draw an additional $4.1 million prior to December 31, 2004, resulting in a principal balance of $80.0 million as of January 1, 2005.

Results for the Six Months Ended June 30, 2004

Net income available to common shareholders for the first six months of 2004 totaled $6.2 million, or $0.23 per diluted share, compared to $7.7 million, or $0.36 per diluted share for the same period in 2003. During the first six months of 2004, net operating income of acquisition properties increased $6.0 million as compared to same period in 2003, but same store net operating income decreased $1.8 million or 2.6% as compared to the same period in 2003.

FFO for the first six months of 2004 was $25.4 million, or $0.95 per diluted share, compared to $23.5 million, or $1.10 per diluted share for the same period in 2003. For the first six months of 2004, CRT Properties increased total operating revenues 11.0% or $8.0 million to $80.6 million, from $72.6 million for the same period in 2003. This increase is principally due to the Company’s September 2003 acquisitions in Dallas, the December 2003 acquisition of McGinnis Park in Atlanta, the January 2004 acquisition of Atlantic Center Plaza in Atlanta , and the April 2004 Decoverly acquisition in Rockville, Maryland.

The Company signed 854,000 square feet of leases in 191 transactions in the first six months of 2004 at an average cost of $2.75 per square foot per year. The GAAP weighted average gross rental rate on new, backfill and renewal leases (excluding first generation space) was $17.17 per square foot compared to $17.38 per square foot on expiring leases. For the first six months of 2004, the Company had negative net absorption totaling 35,000 square feet, most of which occurred in Jacksonville and Houston.

Earnings Estimates

Due to certain charges that will be incurred in the second half of 2004, the Company is updating its 2004 net income and FFO guidance. Management now expects 2004 net income available to common shareholders and FFO to range from $0.36 to $0.38 and $1.85 to $1.87 per diluted share, respectively. Financial results for the second half of 2004 will be reduced by charges related to the accelerated amortization of deferred financing costs related to the early renewal of the Company’s line of credit, increased costs related to the Company’s compliance with the Sarbanes-Oxley Act, including certain costs and delayed income related to the Company’s elimination of a stock purchase loan agreement with the Company’s chief executive officer as more particularly described in the Company’s Form 8-K filed on July 30, 2004.

During the scheduled August 4, 2004 at 9:00 AM EDT conference call, management will further discuss earnings guidance for 2004.

Funds from operations (FFO) is a non-GAAP financial measure. The Company believes FFO is a useful additional measure of the Company’s performance because it facilitates an understanding of the operating performance of the Company after adjustment for certain non-cash expenses, such as real estate depreciation, which assumes that the value of real estate assets diminishes predictably over time. In addition, the Company believes that FFO provides useful information to the investment community about the Company’s financial performance as compared to other REITs since FFO is generally recognized as an

industry standard for measuring the operating performance of an equity REIT. The Company also uses FFO as one of the criteria for performance based compensation.

Funds from operations should not be considered as an alternative to net income as an indication of the Company’s financial performance or to cash flow from operating activities (determined in accordance with accounting principles generally accepted in the United States of America) or as a measure of the Company’s liquidity, nor is it necessarily indicative of sufficient cash flow to fund all of the Company’s needs. While the Company believes its calculation of FFO generally conforms with the National Association of Real Estate Investment Trusts’ (“NAREIT”) definition of FFO, the Company’s method of calculating FFO may be different from methods used by other REIT’s and the method preferred by NAREIT. The Company’s reconciliation of net income to FFO is set forth below.

Estimates of future net income available to common shareholders and FFO per share are by definition, and certain other matters discussed in this press release may be, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although CRT Properties, Inc. believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, there can be no assurance that its expectations will be attained. Certain factors that could cause actual results to differ materially from the Company’s expectations are set forth as risk factors in the Company’s SEC reports and filings, including its Annual Report on Form 10-K for the year ended December 31, 2003. Included among these factors are changes in general economic conditions, including changes in the economic conditions affecting industries in which its principal tenants operate; its ability to timely lease or re-lease space at current or anticipated rents to creditworthy tenants; competition for tenants; its ability to achieve economies of scale over time; the demand for tenant services beyond those traditionally provided by landlords; changes in interest rates; changes in operating costs; its ability to attract and retain high-quality personnel at a reasonable cost in a highly competitive labor environment; future demand for its debt and equity securities; its ability to refinance its debt on reasonable terms at maturity; and its ability to complete current and future development projects on schedule and on budget. Many of these factors are beyond the Company’s ability to control or predict. Forward-looking statements are not guarantees of performance. For forward-looking statements contained or incorporated by reference herein, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

CRT Properties, Inc. owns or has interests in 133 office buildings, containing approximately 10.6 million rentable square feet, located primarily in 20 suburban office projects and two urban centers in twelve metropolitan areas in the Southeastern United States, Texas and Maryland.

Copies of the Company’s June 30, 2004 First Quarter Supplemental Disclosure package are available upon request to Investor Relations, CRT Properties, Inc., 225 NE Mizner Blvd., Suite 200, Boca Raton, Florida 33432, or call 1-800-850-2037.

Additionally, the June 30, 2004 Second Quarter Supplemental Disclosure package and further information about CRT Properties, Inc. can be found on the Company’s Web site at www.crtproperties.com.

CRT PROPERTIES, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In Thousands except per Share Data)

	For the						For the
	Three Months Ended						Six Months Ended
	6/30/04			6/30/03			6/30/04			6/30/03
Revenues
Rental and other rental services	$	40,931		$	35,964		$	80,399		$	72,244
Management fees		108			126			174			331
Other		—			—			—			5
Total operating revenues		41,039			36,090			80,573			72,580
Expenses
Property operations		16,036			14,694			31,572			28,042
Depreciation and amortization		9,916			8,156			19,136			16,612
General and administrative		3,167			3,086			6,011			6,030
Direct cost of management fees		—			2			—			88
Other		58			31			110			67
Total operating expenses		29,177			25,969			56,829			50,839
Operating Income		11,862			10,121			23,744			21,741
Other Income and Expense
Equity in earnings of unconsolidated affiliate		110			—			241			—
Interest income		135			86			262			140
Mortgage and loan interest		(7,520	)		(7,367	)		(14,826	)		(14,770	)
Total other income and expense		(7,275	)		(7,281	)		(14,323	)		(14,630	)
Income Before Gain on Sale or Disposition of Assets and Income Taxes		4,587			2,840			9,421			7,111
Gain on sale or disposition of assets		—			589			—			589
Income Before Income Taxes		4,587			3,429			9,421			7,700
Income tax expense (benefit)		—			(21	)		—			(21	)
Net Income		4,587			3,450			9,421			7,721
Dividends on preferred stock		(1,588	)		—			(3,176	)		—
Net Income Available to Common Shareholders	$	2,999		$	3,450		$	6,245		$	7,721
Earnings Per Share Available to Common Shareholders:
Basic	$	0.11		$	0.16		$	0.24		$	0.36
Diluted	$	0.11		$	0.16		$	0.23		$	0.36
Weighted Average Shares:
Basic		26,840			21,311			26,455			21,305
Diluted		27,230			21,382			26,882			21,335

CRT PROPERTIES, INC.
FUNDS FROM OPERATIONS
(In Thousands except per Share Data)

	For the					For the
	Three Months Ended					Six Months Ended
	6/30/04		6/30/03			6/30/04		6/30/03
Net income available to common shareholders	$	2,999	$	3,450		$	6,245	$	7,721
Depreciation — real estate		8,909		7,390			17,256		14,581
Depreciation — unconsolidated affiliate		170		—			271		—
Amortization — deferred tenant costs		718		432			1,327		828
Amortization — fair value of acquired leases		179		432			316		924
Gain on sale of non -operating assets		—		(589	)		—		(589	)
Funds from operations	$	12,975	$	11,115		$	25,415	$	23,465
Weighted average shares/units outstanding — diluted		27,230		21,382			26,882		21,335
Funds from operations, per diluted share/unit	$	0.48	$	0.52		$	0.95	$	1.10

CRT PROPERTIES, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(In Thousands)

	June 30,			December 31,
	2004			2003
ASSETS
Real estate investments:
Operating properties:
Land	$	146,035		$	119,973
Buildings		982,880			838,430
Furniture and equipment		3,713			3,599
Accumulated depreciation		(196,893	)		(179,569	)
Operating properties, net		935,735			782,433
Undeveloped land held for investment		14,133			10,975
Undeveloped land held for sale		3,039			3,041
Cash and cash equivalents		5,981			9,163
Restricted cash		11,923			11,114
Accounts receivable, net of allowance for uncollectible accounts of $1,093 and $939		17,742			16,236
Investment in unconsolidated affiliate		3,389			—
Other assets		21,457			15,239
TOTAL ASSETS	$	1,013,399		$	848,201
LIABILITIES AND SHAREHOLDERS’ EQUITY
Liabilities:
Mortgages and loans payable	$	472,866		$	408,716
Accounts payable		5,732			4,299
Accrued real estate taxes payable		9,721			1,853
Other accrued liabilities		10,085			11,016
Dividends payable		9,694			7,824
Advance rents and security deposits		7,218			6,846
Total Liabilities		515,316			440,554
Minority interest		4,672			4,672
Shareholders’ equity:
Preferred Stock		30			30
Common stock		354			300
Capital in excess of par value		649,838			546,968
Notes receivable from stock sales		(5,092	)		(5,092	)
Accumulated other comprehensive loss		(241	)		(241	)
Dividends in excess of net income		(19,949	)		(7,405	)
Treasury stock, at cost		(131,529	)		(131,585	)
Total Shareholders’ Equity		493,411			402,975
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	1.013,399		$	848,201

CRT PROPERTIES, INC.
FORECASTED FUNDS FROM OPERATIONS
(per Diluted Share)

	For the
	Year Ending
	12/31/04
Net income available to common shareholders, per diluted share	$	0.47-0.49
Depreciation — real estate		1.27
Amortization — deferred tenant costs		0.09
Amortization — fair value of acquired leases		0.02
Gain on sale or disposition:
Non-operating assets		—
Funds from operations, per diluted share	$	1.85-1.87

####

Supplemental Operating & Financial Data
Second Quarter 2004

CRT PROPERTIES, INC. AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION
TABLE OF CONTENTS / “SAFE HARBOR”
JUNE 30, 2004

	Page
I. Financial Data
- Consolidated Balance Sheets		2
- Consolidated Statement of Operations		3-4
- Funds from Operations		5
- Net Operating Income		6-7
- Capital Expenditures		8
- Summary of Outstanding Debt		9
II. Acquisition/Construction Summaries
- Operating Property Acquisitions		10
- Building Completions		11
- Buildings Under Construction		12
III. Portfolio Operating Statistics
- Twenty-Five Largest Tenants		13
- Industry Diversification		14
- Summary of Assets By City		15
- Occupancy/Leased Summary		16
- Occupancy Trend		17
- Leasing Summary		18
- Lease Distribution		19
- Lease Expirations		20
- Net Effective Rents		21
- Capital Expenditure Leasing Commitment		22
- Same Suite Analysis - GAAP Basis		23
- Same Suite Analysis - Cash Basis		24

This supplemental package may contain forward-looking statements under the meaning of the Private Securities Litigation Reform Act of 1995. Although CRT Properties, Inc. believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, there can be no assurance that the expectations will be attained. Forward-looking statements are not guarantees of future performance and therefore, undue reliance should not be placed on them. Please refer to our filings with the Securities and Exchange Commission for a more detailed discussion of the risks that may have a direct bearing on our operating results, performance and financial condition. CRT Properties, Inc. claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

Page 1

CRT PROPERTIES, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS

Dollars in thousands

	(Unaudited)			(Unaudited)						(Unaudited)			(Unaudited)
	6/30/04			3/31/04			12/31/03			9/30/03			6/30/03
ASSETS
Real estate investments:
Operating properties:
Land	$	146,035		$	129,973		$	119,973		$	116,658		$	110,653
Buildings		982,880			951,162			838,430			814,183			784,145
Furniture and equipment		3,713			3,672			3,599			3,533			3,488
Accumulated depreciation		(196,893	)		(187,874	)		(179,569	)		(171,697	)		(164,470	)
Operating properties, net		935,735			896,933			782,433			762,677			733,816
Undeveloped land held for investment		14,133			10,975			10,975			9,995			9,995
Undeveloped land held for sale		3,039			3,041			3,041			3,041			3,041
Cash and temporary investments		5,981			50,588			9,163			13,302			4,741
Restricted cash		11,923			12,681			11,114			14,520			14,417
Accounts receivable, net		17,742			17,703			16,236			14,575			13,007
Investment in an unconsolidated affiliate		3,389			3,369			0			0			0
Other assets		21,457			14,193			15,239			18,059			17,721
TOTAL ASSETS	$	1,013,399		$	1,009,483		$	848,201		$	836,169		$	796,738
LIABILITIES AND SHAREHOLDERS’ EQUITY
Liabilities:
Mortgages and loan payable	$	472,866		$	468,241		$	408,716		$	394,128		$	426,371
Accounts payable		5,732			4,884			4,299			3,764			2,648
Accrued real estate taxes payable		9,721			4,864			1,853			9,893			7,997
Other accrued liabilities		10,085			10,255			11,016			10,846			10,889
Dividends payable		9,694			9,693			7,824			7,840			7,463
Advance rents and security deposits		7,218			7,147			6,846			5,343			5,224
Total Liabilities		515,316			505,084			440,554			431,814			460,592
Minority Interest		4,672			4,672			4,672			0			0
Shareholders’ Equity:
Preferred stock		30			30			30			30			0
Common stock		354			354			300			299			298
Capital in excess of par value		649,838			649,787			546,968			544,689			472,364
Notes receivable from stock sales to related parties		(5,092	)		(5,092	)		(5,092	)		(5,266	)		(5,266	)
Other comprehensive loss		(241	)		(241	)		(241	)		(212	)		(212	)
Retained earnings (Dividends in excess of net income)		(19,949	)		(13,553	)		(7,405	)		(3,566	)		613
Treasury stock, at cost		(131,529	)		(131,558	)		(131,585	)		(131,619	)		(131,651	)
Total Shareholders’ Equity		493,411			499,727			402,975			404,355			336,146
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	1,013,399		$	1,009,483		$	848,201		$	836,169		$	796,738

Page 2

CRT PROPERTIES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF OPERATIONS
(Unaudited)

In thousands, except per share data

	Three Months Ended
	6/30/04			3/31/04			12/31/03			9/30/03			6/30/03
REVENUES
Rental and other rental services	$	40,931		$	39,468		$	38,664		$	35,163		$	35,964
Management fees		108			66			0			0			126
Other		0			0			0			0			0
Total operating revenues		41,039			39,534			38,664			35,163			36,090
EXPENSES
Property operations		16,036			15,536			15,432			13,907			14,694
Depreciation and amortization		9,916			9,220			8,150			7,925			8,156
General and administrative		3,167			2,844			2,723			2,385			3,086
Direct cost of management fees		0			0			0			0			2
Other		58			52			44			36			31
Total operating expenses		29,177			27,652			26,349			24,253			25,969
OPERATING INCOME		11,862			11,882			12,315			10,910			10,121
OTHER INCOME AND EXPENSE
Equity in earnings of unconsolidated affiliate		110			131			0			0			0
Interest income		135			127			128			39			86
Mortgage and loan interest		(7,520	)		(7,306	)		(7,190	)		(7,289	)		(7,367	)
Total other income and expense		(7,275	)		(7,048	)		(7,062	)		(7,250	)		(7,281	)
INCOME BEFORE GAIN (LOSS) ON SALE OR DISPOSITION OF ASSETS		4,587			4,834			5,253			3,660			2,840
Gain (loss) on sale or disposition of assets		0			0			(16	)		0			589
INCOME BEFORE INCOME TAXES		4,587			4,834			5,237			3,660			3,429
Income taxes		0			0			(72	)		(1	)		(21	)
INCOME BEFORE MINORITY INTEREST		4,587			4,834			5,309			3,661			3,450
Minority interest		0			0			0			0			0
NET INCOME	$	4,587		$	4,834		$	5,309		$	3,661		$	3,450
Dividends on preferred shares		(1,588	)		(1,588	)		(1,624	)		(371	)		0
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS	$	2,999		$	3,246		$	3,685		$	3,290		$	3,450
EARNINGS PER SHARE AVAILABLE TO COMMON SHAREHOLDERS — Diluted	$	0.11		$	0.12		$	0.17		$	0.15		$	0.16
WEIGHTED AVERAGE SHARES — Diluted		27,230			26,524			21,672			21,455			21,382
OPERATING MARGIN		60.8	%		60.6	%		60.1	%		60.4	%		59.1	%

Page 3

CRT PROPERTIES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF OPERATIONS
(Unaudited)

In thousands, except per share data

	Three Months Ended									Six Months Ended
	6/30/04			6/30/03			Fav/(Unfav)			6/30/04			6/30/03			Fav/(Unfav)
REVENUES
Rental and other rental services	$	40,931		$	35,964		$	4,967		$	80,399		$	72,244		$	8,155
Management fees		108			126			(18	)		174			331			(157	)
Other		0			0			0			0			5			(5	)
Total operating revenues		41,039			36,090			4,949			80,573			72,580			7,993
EXPENSES
Property operations		16,036			14,694			(1,342	)		31,572			28,042			(3,530	)
Depreciation and amortization		9,916			8,156			(1,760	)		19,136			16,612			(2,524	)
General and administrative		3,167			3,086			(81	)		6,011			6,030			19
Direct cost of management fees		0			2			2			0			88			88
Other		58			31			(27	)		110			67			(43	)
Total operating expenses		29,177			25,969			(3,208	)		56,829			50,839			(5,990	)
OPERATING INCOME		11,862			10,121			1,741			23,744			21,741			2,003
OTHER INCOME AND EXPENSE
Equity in earnings of unconsolidated affiliate		110			0			110			241			0			241
Interest income		135			86			49			262			140			122
Mortgage and loan interest		(7,520	)		(7,367	)		(153	)		(14,826	)		(14,770	)		(56	)
Total other income and expense		(7,275	)		(7,281	)		6			(14,323	)		(14,630	)		307
INCOME BEFORE GAIN (LOSS) ON SALE OR DISPOSITION OF ASSETS		4,587			2,840			1,747			9,421			7,111			2,310
Gain (loss) on sale or disposition of assets		0			589			(589	)		0			589			(589	)
INCOME BEFORE INCOME TAXES		4,587			3,429			1,158			9,421			7,700			1,721
Income taxes		0			(21	)		(21	)		0			(21	)		(21	)
INCOME BEFORE MINORITY INTEREST		4,587			3,450			1,137			9,421			7,721			1,700
Minority interest		0			0			0			0			0			0
NET INCOME	$	4,587		$	3,450		$	1,137		$	9,421		$	7,721		$	1,700
Dividends on preferred shares		(1,588	)		0			(1,588	)		(3,176	)		0			(3,176	)
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS	$	2,999		$	3,450		$	(451	)	$	6,245		$	7,721		$	(1,476	)
EARNINGS PER SHARE AVAILABLE TO COMMON SHAREHOLDERS — Diluted	$	0.11		$	0.16		$	(0.05	)	$	0.23		$	0.36		$	(0.13	)
WEIGHTED AVERAGE SHARES — Diluted		27,230			21,382			5,848			26,882			21,335			5,547
OPERATING MARGIN		60.8	%		59.1	%					60.7	%		61.2	%

Page 4

CRT PROPERTIES, INC. AND SUBSIDIARIES
FUNDS FROM OPERATIONS
(Unaudited)

In thousands, except per share data

	Three Months Ended
	6/30/04			3/31/04			12/31/03			9/30/03			6/30/03
Funds from Operations:
Net income available to common shareholders	$	2,999		$	3,246		$	3,685		$	3,290		$	3,450
Depreciation — real property		8,909			8,347			7,818			7,147			7,390
Depreciation — unconsolidated affiliate		170			101			—			—			—
Amortization — deferred tenant costs		718			609			436			436			432
Amortization — fair value of acquired leases (c)		179			137			(766	)		378			432
Loss (gain) on sale of non-operating assets		—			—			16			—			(589	)
Funds from Operations (a)		12,975			12,440			11,189			11,251			11,115
Cash Available for Distribution:
Add (Deduct):
Rental income from straight-line rents		(1,407	)		(1,249	)		(938	)		(801	)		(1,075	)
Amortization of deferred financing costs		378			374			370			370			368
Revenue maintaining building improvements		(744	)		(832	)		(618	)		(423	)		(695	)
Revenue maintaining tenant improvements (b)		(1,134	)		(973	)		(1,212	)		(804	)		(1,391	)
Revenue maintaining leasing commissions (b)		(737	)		(186	)		(158	)		(222	)		(266	)
Cash Available for Distribution (a)	$	9,331		$	9,574		$	8,633		$	9,371		$	8,056
Weighted average common shares/units outstanding — diluted		27,230			26,524			21,672			21,455			21,382
Per share/unit — diluted:
Funds from operations	$	0.48		$	0.47		$	0.52		$	0.52		$	0.52
Cash available for distribution	$	0.34		$	0.36		$	0.40		$	0.44		$	0.38
Dividends paid	$	0.35		$	0.35		$	0.35		$	0.35		$	0.35
Dividend payout ratio:
Funds from operations		73.5	%		74.6	%		67.8	%		66.7	%		67.3	%
Cash available for distribution		102.1	%		97.0	%		87.9	%		80.1	%		92.9	%

(a) Funds from operations and cash available for distribution are non-GAAP financial measures and should not be considered as comparable to net income available to common shareholders or earnings per share.

(b) These amounts represent leasing costs associated with 2nd generation space.

(c) Due to the re-evaluation of the fair value of in-place leases by an independent third party, an adjustment of $1,144 was made in the fourth quarter of 2003.

Page 5

CRT PROPERTIES, INC. AND SUBSIDIARIES
NET OPERATING INCOME (a) (b)
(Unaudited)

In thousands, except SF and per share data

			Three Months Ended
			6/30/04			3/31/04			12/31/03			9/30/03			6/30/03
Same Store Sales:
Properties	120	Revenue	$	26,590		$	26,206		$	26,718		$	26,859		$	27,377
Square Feet	6,931,020	Expense		10,049			9,556			10,246			10,061			10,312
		NOI		16,541			16,650			16,472			16,798			17,065
Occupancy - Period End				83.1	%		82.8	%		84.3	%		84.0	%		85.7	%
Acquisitions:
Properties	11	Revenue (c)	$	14,077		$	13,143		$	10,357		$	8,422		$	8,452
Square Feet	3,148,579	Expense		6,470			5,944			5,121			3,845			4,421
		NOI		7,607			7,199			5,236			4,576			4,031
Occupancy - Period End				73.4	%		74.6	%		73.2	%		74.1	%		70.9	%
Development:
Properties	—	Revenue	$	—		$	—		$	—		$	—		$	—
Square Feet	—	Expense		—			—			—			—			—
		NOI		—			—			—			—			—
Occupancy - Period End				0.0	%		0.0	%		0.0	%		0.0	%		0.0	%
Asset Sales:
Properties	—	Revenue	$	264		$	119		$	327		$	0		$	289
Square Feet	—	Expense		(483	)		37			64			0			(40	)
		NOI		747			82			263			(0	)		329
Occupancy - Period End				0.0	%		0.0	%		0.0	%		0.0	%		0.0	%
Consolidated Portfolio
Properties	131	Revenue	$	40,931		$	39,468		$	37,402		$	35,281		$	36,118
Square Feet	10,079,599	Expense		16,036			15,537			15,431			13,907			14,693
		NOI		24,895			23,931			21,971			21,374			21,425
Occupancy - Period End				80.1	%		80.3	%		81.3	%		81.5	%		82.4	%

(a) Net Operating Income is defined as rental and other rental services revenue less property operating expense, excluding amortization of the fair value of acquired leases.

(b) Net Operating Income is a non-GAAP financial measure and should not be considered as comparable to Net Income.

(c) Excludes adjustments for the fair value of acquired leases.

Page 6

CRT PROPERTIES, INC. AND SUBSIDIARIES
NET OPERATING INCOME (a) (b)
(Unaudited)

In thousands, except SF and per share data

			Three Months Ended									Six Months Ended
			6/30/04			6/30/03			Fav/(Unfav)			6/30/04			6/30/03			Fav/(Unfav)
Same Store Sales:
Properties	120	Revenue	$	26,590		$	27,377		$	(787	)	$	52,796		$	54,915		$	(2,119	)
Square Feet	6,931,020	Expense		10,049			10,312			263			19,605			19,943			338
		NOI		16,541			17,065			(524	)		33,191			34,972			(1,781	)
Occupancy - Period End				83.1	%		85.7	%		-2.6	%		83.1	%		85.7	%		-2.6	%
Acquisitions:
Properties	11	Revenue (c)	$	14,077		$	8,452		$	5,625		$	27,220		$	17,048		$	10,172
Square Feet	3,148,579	Expense		6,470			4,421			(2,049	)		12,414			8,210			(4,204	)
		NOI		7,607			4,031			3,576			14,806			8,838			5,968
Occupancy - Period End				73.4	%		70.9	%		2.4	%		73.4	%		70.9	%		2.4	%
Development:
Properties	—	Revenue	$	—		$	—		$	—		$	—		$	—		$	—
Square Feet	—	Expense		—			—			—			—			—			—
		NOI		—			—			—			—			—			—
Occupancy - Period End				0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%
Asset Sales:
Properties	—	Revenue	$	264		$	289		$	(25	)	$	384		$	260		$	124
Square Feet	—	Expense		(483	)		(40	)		443			(446	)		(111	)		335
		NOI		747			329			418			830			371			459
Occupancy - Period End				0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%
Consolidated Portfolio
Properties	131	Revenue	$	40,931		$	36,118		$	4,813		$	80,400		$	72,223		$	8,176
Square Feet	10,079,599	Expense		16,036			14,693			(1,343	)		31,573			28,042			(3,531	)
		NOI		24,895			21,425			3,470			48,827			44,181			4,645
Occupancy - Period End				80.1	%		82.4	%		-2.3	%		80.1	%		82.4	%		-2.3	%

(a) Net Operating Income is defined as rental and other rental services revenue less property operating expense, excluding amortization of the fair value of acquired leases.

(b) Net Operating Income is a non-GAAP financial measure and should not be considered as comparable to Net Income.

(c) Excludes adjustments for the fair value of acquired leases.

Page 7

CRT PROPERTIES, INC. AND SUBSIDIARIES
CAPITAL EXPENDITURES
(Unaudited)

	Three Months Ended
	6/30/04		3/31/04		12/31/03		9/30/03			6/30/03		3/31/03
Revenue Maintaining:
Building Improvements	$	743,836	$	831,820	$	617,606	$	423,302		$	694,892	$	660,966
Tenant Improvements - 2001 Leasing		9,146		11,039		17,411		75,890			26,104		48,310
Tenant Improvements - 2002 Leasing		62,302		87,225		69,203		28,031			217,127		926,380
Tenant Improvements - 2003 Leasing		228,802		199,982		1,125,336		700,056			1,148,118		277,853
Tenant Improvements - 2004 Leasing		833,467		674,736		—		—			—		—
Leasing Commissions - 2001 Leasing		—		2,537		—		1,235			2,047		1,641
Leasing Commissions - 2002 Leasing		—		—		—		8,251			661		150,832
Leasing Commissions - 2003 Leasing		3,778		38,359		157,790		212,803			263,379		221,203
Leasing Commissions - 2004 Leasing		733,763		144,748		—		—			—		—
Revenue Maintaining Capital Expenditures		2,615,094		1,990,446		1,987,345		1,449,568			2,352,328		2,287,185
Revenue Enhancing:
Building Improvements		4,804,356		1,559,782		970,930		1,207,945			781,462		88,181
Tenant Improvements - 2002 Leasing		157		—		7,436		(63,719	)		732,711		1,005,839
Tenant Improvements - 2003 Leasing		33,778		700,580		1,871,953		1,127,369			421,104		77,044
Tenant Improvements - 2004 Leasing		2,989,738		572,475		—		—			—		—
Leasing Commissions - 2002 Leasing		—		—		—		53,491			10,250		156,756
Leasing Commissions - 2003 Leasing		24,196		196,953		407,466		208,379			251,269		42,730
Leasing Commissions - 2004 Leasing		962,064		264,787		—		—			—		—
Revenue Enhancing Capital Expenditures		8,814,289		3,294,577		3,257,785		2,533,465			2,196,796		1,370,550
Total Capital Expenditures	$	11,429,383	$	5,285,023	$	5,245,130	$	3,983,033		$	4,549,124	$	3,657,735

Page 8

CRT PROPERTIES, INC. AND SUBSIDIARIES
SUMMARY OF OUTSTANDING DEBT
AS OF JUNE 30, 2004

							Monthly
	Interest						Debt		Outstanding		Balance
Description	Rate			Maturity			Service		6/30/04		12/31/03
							$(000)		$(000)		$(000)
Fixed Rate:
Northwestern Mutual — Tranche A		8.19	%		01/02/07			789		88,243		89,335
Northwestern Mutual — Tranche B		8.33	%		01/02/09			710		78,546		79,512
Northwestern Mutual — Tranche C		7.10	%		01/02/07			104		13,519		13,665
Northwestern Mutual — Tranche D		7.10	%		01/02/09			216		27,866		28,166
Allstate Life		8.20	%		12/01/06			165		18,398		18,592
Metropolitan Life		5.26	%		01/01/08			373		85,000		85,000
Innman Family		8.00	%		12/31/08			7		978		978
Total Fixed Rate Debt		7.29	%					2,364		312,550		315,248
Variable Rate:
GE Capital		6.38	%		06/30/21	(d)		11		1,440		1,468
Column Financial (a)		4.11	%		12/09/04	(b)		263		77,000		77,000
Secured Revolving Credit Facility - $100 Million		3.33	%		12/27/04			24		6,000		15,000
Metropolitan Life		2.71	%		01/01/15	(c)		177		75,876		0
Total Variable Rate Debt		4.02	%					475		160,316		93,468
Total Debt		6.54	%					2,839		472,866		408,716
Market Capitalization:
Total Debt										472,866		408,716
Preferred Stock										76,843		80,730
Common Stock										620,568		449,910
Total Market Capitalization										1,170,277		939,356

	Amount
	$000
Schedue of Mortgage Maturities by Year:
2004		85,909
2005		6,112
2006		23,706
2007		98,098
2008		89,606
Thereafter		169,435
Total		472,866

(a) Interest rate capped at 287 basis points over maximum LIBOR of 5.45 percent.

(b) Column Financial loan has three one-year extension options.

(c) Loan will convert to a fixed interest rate loan of 5.49% on January 1, 2005.

(d) This loan was prepaid in full without penalty on July 2, 2004.

Page 9

CRT PROPERTIES, INC. AND SUBSIDIARIES
OPERATING PROPERTY ACQUISITIONS
2003 AND 2004

		Rentable						Percent
		Square		Date		Purchase		Leased
Property	Location	Feet		Purchased		Price (a)		6/30/04
2003
Dallas Cigna Plaza	Dallas, TX		127,226		9/11/2003	$	15,170,000		92	%
Dallas Rosemeade	Dallas, TX		152,163		9/11/2003	$	17,980,000		100	%
McGinnis Park (b)	Atlanta, GA		202,279		12/30/2003	$	19,690,000		51	%
			481,668			$	52,840,000		77	%
2004
Broward Financial Center (c)	Fort Lauderdale, FL		325,583		1/12/2004	$	5,100,000		85	%
Atlantic Center Plaza	Atlanta, GA		502,579		1/27/2004	$	116,500,000		88	%
Decoverly	Rockville, MD		154,787		4/2/2004	$	42,000,000		92	%
			982,949			$	163,600,000		88	%

(a) Purchase price consists of the contract price only and does not include closing costs.

(b) Joint venture acquisition in which Koger is 75% partner with a cumulative preferred return.

(c) The Company has a 30% interest in this joint venture that is accounted for using the equity method.

Page 10

CRT PROPERTIES, INC. AND SUBSIDIARIES
BUILDING COMPLETIONS
2003 and 2004

					Percent
		Square	Month		Leased
Property	Location	Feet	Completed	Total Cost (a)	6/30/04
2003
None.
2004
None.

(a) Includes land and building construction costs. Does not include tenant improvement costs.

Page 11

CRT PROPERTIES, INC. AND SUBSIDIARIES
BUILDINGS UNDER CONSTRUCTION
JUNE 30, 2004

		Square		Expected	Projected		Pre-Leasing
Property	Location	Feet		Completion	Cost		to Date
None.
			—		$	—

Page 12

CRT PROPERTIES, INC. AND SUBSIDIARIES
TWENTY-FIVE LARGEST TENANTS
BASED ON ANNUALIZED GROSS RENTS
AS OF JUNE 30, 2004

					Remaining					Annualized
	Number		Occupied		Term		Percent of			Gross		Percent
Tenant (a)	of Leases		Square Feet		(Months)		Occupied			Rent (b)		of Rent
US GOVERNMENT		46		935,210		77		11.7	%	$	17,478,591		11.4	%
STATE OF FLORIDA		34		627,469		30		7.8	%		11,208,367		7.3	%
BLUE CROSS & BLUE SHIELD		10		557,547		14		7.0	%		9,716,943		6.3	%
SIX CONTINENTS HOTELS		2		309,641		57		3.9	%		8,492,860		5.5	%
ALSTON & BIRD, LLP		1		229,394		112		2.9	%		6,245,901		4.1	%
BECHTEL CORPORATION		1		335,031		60		4.2	%		6,023,085		3.9	%
CIGNA GENERAL LIFE INSURANCE		1		116,423		57		1.5	%		3,024,340		2.0	%
CITIFINANCIAL		1		159,827		38		2.0	%		2,927,248		1.9	%
SPIRENT		3		104,583		26		1.3	%		2,698,188		1.8	%
LANDSTAR SYSTEM HOLDINGS INC		1		176,000		125		2.2	%		2,600,905		1.7	%
ZURICH INSURANCE COMPANY		2		97,913		31		1.2	%		1,934,221		1.3	%
NORTHERN TELECOM, INC.		1		62,155		24		0.8	%		1,742,526		1.1	%
HUNTSMAN CORP		1		97,358		119		1.2	%		1,569,230		1.0	%
WASHINGTON MUTUAL BANK		2		86,361		52		1.1	%		1,481,791		1.0	%
TRANSCORE		1		60,840		41		0.8	%		1,461,691		0.9	%
FORD MOTOR COMPANY		3		63,337		23		0.8	%		1,339,881		0.9	%
ACS STATE HEALTHCARE		1		52,689		56		0.7	%		1,191,372		0.8	%
SARA LEE CORP		1		51,188		12		0.6	%		950,344		0.6	%
ENOVIA CORPORATION		1		44,095		2		0.6	%		907,112		0.6	%
CHECK SOLUTIONS COMPANY		1		40,307		55		0.5	%		830,679		0.5	%
NETWORK ASSOCIATES		2		31,484		25		0.4	%		816,989		0.5	%
NEXTIRA ONE		1		29,168		41		0.4	%		810,867		0.5	%
BEST SOFTWARE INC		1		47,110		54		0.6	%		801,058		0.5	%
MERGENT — FIS INC.		1		45,040		38		0.6	%		791,622		0.5	%
NAVISION SOFTWARE US, INC.		1		37,783		38		0.5	%		763,800		0.5	%
Total / Weighted Average		120		4,397,953		54		54.9	%	$	87,809,611		57.0	%

(a)	Actual tenant may be a subsidiary of, or an entity affiliated with, the named tenant.
(b)	Annualized Gross Rent is the monthly contractual base rent and current reimbursements under existing leases as of June 30, 2004 multiplied by 12.

Page 13

CRT PROPERTIES, INC. AND SUBSIDIARIES
INDUSTRY DIVERSIFICATION
AS OF JUNE 30, 2004

					Remaining					Annualized
	Number		Occupied		Term		Percent of			Gross		Percent
Industry (a)	of Leases		Square Feet		(Months)		Occupied			Rent (b)		of Rent
Professional, Scientific, and Technical Services		222		1,953,054		53		24.4	%	$	39,709,515		25.8	%
Finance and Insurance		172		1,866,376		28		23.3	%		34,958,299		22.7	%
Public Adminstration		90		1,614,332		57		20.1	%		29,512,251		19.2	%
Information		55		615,003		31		7.7	%		12,220,160		7.9	%
Manufacturing		49		493,835		48		6.2	%		9,106,520		5.9	%
Accomodation and Food Services		10		328,083		55		4.1	%		8,793,291		5.7	%
Transportation and Warehousing		7		228,587		110		2.9	%		3,389,901		2.2	%
Wholesale Trade		14		125,093		34		1.6	%		2,565,555		1.7	%
Construction		19		126,913		27		1.6	%		2,353,134		1.5	%
Administrative and Support Services		29		131,356		39		1.6	%		2,352,417		1.5	%
Other (c)		258		528,597		35		6.6	%		8,992,648		5.8	%
Total / Weighted Average		925		8,011,229		33		100.0	%	$	153,953,691		100.0	%

(a)	Classifications are based on the North American Indistrial Classification System (NAICS).
(b)	Annualized Gross Rent is the monthly contractual base rent and current reimbursements under existing leases as of June 30, 2004 multiplied by 12.
(c)	Includes leases whose classification does not total 1.0% or more of the portfolio’s annualized gross rent.

Page 14

CRT PROPERTIES, INC. AND SUBSIDIARIES
SUMMARY OF ASSETS BY CITY
AS OF JUNE 30, 2004

		# of		Age				% Square			%
City	State	Bldgs		(yrs)		Square Feet		Feet			NOI (a)
Atlanta	GA		29		13		3,077,205		30.5	%		31.1	%
Orlando	FL		28		19		1,303,866		12.9	%		10.6	%
Houston	TX		3		23		1,204,748		12.0	%		15.1	%
Jacksonville	FL		11		9		1,168,161		11.6	%		9.3	%
Tallahassee	FL		19		21		835,699		8.3	%		8.2	%
Charlotte	NC		15		16		709,265		7.0	%		6.7	%
St. Petersburg	FL		15		21		668,335		6.6	%		6.0	%
Memphis	TN		6		11		533,017		5.3	%		5.8	%
Dallas	TX		2		6		279,389		2.8	%		4.2	%
Rockville	MD		2		15		154,787		1.5	%		1.1	%
Richmond	VA		1		17		145,127		1.4	%		1.8	%
Total			131		16		10,079,599		100.0	%		100.0	%

(a) Based on Net Operating Income for the second quarter of 2004.

Page 15

CRT PROPERTIES, INC. AND SUBSIDIARIES
OCCUPANCY SUMMARY
AS OF JUNE 30, 2004

	Square Footage								Percentage
			Leased, Not									Leased, Not
	Occupied		Commenced (a)		Vacant		Total		Occupied			Commenced (a)			Vacant			Total
Atlanta		2,409,857		171,516		495,832		3,077,205		78.3	%		5.6	%		16.1	%		100.0	%
Jacksonville		1,145,696		45,757		-23,292		1,168,161		98.1	%		3.9	%		-2.0	%		100.0	%
Orlando		1,028,813		102,402		172,651		1,303,866		78.9	%		7.9	%		13.2	%		100.0	%
Houston		870,210		0		334,538		1,204,748		72.2	%		0.0	%		27.8	%		100.0	%
St. Petersburg		583,874		19,696		64,765		668,335		87.4	%		2.9	%		9.7	%		100.0	%
Tallahassee		589,073		1,200		245,426		835,699		70.5	%		0.1	%		29.4	%		100.0	%
Charlotte		442,447		30,537		236,281		709,265		62.4	%		4.3	%		33.3	%		100.0	%
Memphis		457,300		12,429		63,288		533,017		85.8	%		2.3	%		11.9	%		100.0	%
Dallas		268,586		0		10,803		279,389		96.1	%		0.0	%		3.9	%		100.0	%
Richmond		133,165		11,348		614		145,127		91.8	%		7.8	%		0.4	%		100.0	%
Rockville		141,809		0		12,978		154,787		91.6	%		0.0	%		8.4	%		100.0	%
Total		8,070,830		394,885		1,613,884		10,079,599		80.1	%		3.9	%		16.0	%		100.0	%

(a) Includes square footage of fully executed leases for vacant space that commence on a future date.

Page 16

CRT PROPERTIES, INC. AND SUBSIDIARIES
OCCUPANCY TREND

			As of
	MSA
	Square Feet		6/30/2004			3/31/2004			12/31/2003			9/30/2003			6/30/2003
Atlanta — SSS		1,567,550		1,379,866			1,396,485			1,390,533			1,396,604			1,429,547
				88.0	%		89.1	%		88.7	%		89.1	%		91.2	%
Orlando		1,303,866		1,028,813			1,023,348			1,090,309			1,082,934			1,090,238
				78.9	%		78.5	%		83.6	%		83.0	%		83.6	%
Jacksonville		1,168,161		1,145,696			1,107,116			1,160,504			1,160,630			1,156,829
				98.1	%		94.8	%		99.3	%		99.4	%		99.0	%
Charlotte		709,265		442,447			446,989			450,981			428,146			555,348
				62.4	%		63.0	%		63.6	%		60.4	%		78.3	%
St. Petersburg		668,335		583,874			592,001			593,381			587,761			571,262
				87.4	%		88.6	%		88.8	%		87.9	%		85.5	%
Tallahassee		835,699		589,073			594,955			587,201			593,429			595,557
				70.5	%		71.3	%		70.4	%		71.2	%		71.4	%
Memphis		533,017		457,300			436,888			430,435			426,170			398,625
				85.8	%		82.0	%		80.7	%		79.9	%		74.8	%
Richmond		145,127		133,165			136,839			136,534			143,184			141,013
				91.8	%		94.3	%		94.1	%		98.7	%		97.2	%
Same Store		6,931,020		5,760,234			5,734,621			5,839,878			5,818,858			5,938,419
				83.1	%		82.8	%		84.3	%		84.0	%		85.7	%
Houston		1,204,748		870,210			886,813			917,566			898,344			890,035
				72.2	%		73.6	%		76.2	%		74.6	%		73.9	%
Atlanta — ACQ		1,509,655		1,029,991			1,076,963			637,121			528,094			535,769
				68.2	%		71.3	%		63.3	%		65.6	%		66.6	%
Dallas — ACQ		279,389		268,586			268,586			268,586			268,586
				96.1	%		96.1	%		96.1	%		96.1	%
Rockville — ACQ		154,787		141,809
				91.6	%
Acquisitions		3,148,579		2,310,596			2,232,362			1,823,273			1,695,024			1,425,804
				73.4	%		74.6	%		73.2	%		74.1	%		70.9	%
Total		10,079,599		8,070,830			7,966,983			7,663,151			7,513,882			7,364,223
				80.1	%		80.3	%		81.3	%		81.5	%		82.4	%

Page 17

CRT PROPERTIES, INC. AND SUBSIDIARIES
LEASING SUMMARY

			For The Three Months Ended 6/30/04
	MSA		Leased			Expirations (b)							New and
	Square Feet		3/31/04 (a)			(c)(d)		Renewals		Leasing Retention			Backfill
Atlanta		3,077,205		2,512,648			164,887		62,030		37.6	%		171,582
Jacksonville		1,168,161		1,152,873			44,736		44,736		100.0	%		38,580
Orlando		1,303,866		1,125,801			76,898		52,295		68.0	%		30,017
Houston		1,204,748		899,431			37,691		7,404		19.6	%		1,066
Tallahassee		835,699		596,154			34,849		18,169		52.1	%		10,799
St. Petersburg		668,335		601,320			69,571		54,182		77.9	%		17,639
Charlotte		709,265		486,072			46,213		25,589		55.4	%		7,536
Memphis		533,017		453,980			30,962		19,616		63.4	%		27,095
Richmond		145,127		147,707			25,762		22,568		87.6	%		0
Dallas		279,389		268,586			0		0		0.0	%		0
Rockville		154,787		141,809	(e)		0		0		0.0	%		0
Total		10,079,599		8,386,381			531,569		306,589		57.7	%		304,314

[Additional columns below]

[Continued from above table, first column(s) repeated]

	For The Three Months Ended 6/30/04
	Gross					Leased		Leased			Leased
	Activity		Net Absorption			6/30/04 (a)		3/31/04			6/30/04
Atlanta		233,612		68,725			2,581,373		81.7	%		83.9	%
Jacksonville		83,316		38,580			1,191,453		98.7	%		102.0	%
Orlando		82,312		5,414			1,131,215		86.3	%		86.8	%
Houston		8,470		(29,221	)		870,210		74.7	%		72.2	%
Tallahassee		28,968		(5,881	)		590,273		71.3	%		70.6	%
St. Petersburg		71,821		2,250			603,570		90.0	%		90.3	%
Charlotte		33,125		(13,088	)		472,984		68.5	%		66.7	%
Memphis		46,711		15,749			469,729		85.2	%		88.1	%
Richmond		22,568		(3,194	)		144,513		101.8	%		99.6	%
Dallas		0		0			268,586		96.1	%		96.1	%
Rockville		0		0			141,809		91.6	%		91.6	%
Total		610,903		79,334			8,465,715		83.2	%		84.0	%

(a)	Leased figures include all leases in effect as of the period end date, including those leases expiring on the period end date, as well as fully executed leases for vacant space that commences on a future date.
(b)	Includes the rentable square footage of expired leases, as well as the square footage of future expirations for which renewal and backfills have been signed.
(c)	Expirations also include leases that ended due to a termination right or default.
(d)	Negative expirations indicate the resumed occupancy of buffered space.
(e)	Includes Decoverly which was acquired 4/2/04.

Page 18

CRT PROPERTIES, INC. AND SUBSIDIARIES
LEASE DISTRIBUTION
AS OF JUNE 30, 2004

						Tenant
						Occupied		Percent			Annualized		Average		Percent
	Number of		Percent of			Square		of Square			Gross		Annualized		of Total			Remaining
Category	Leases (a)		Leases			Feet (b)		Feet			Rent (c)		Rent PSF		Rents			Term
2,500 or Less		438		47.4	%		548,396		6.8	%	$	9,903,385	$	18.06		6.4	%		21
2,501 - 5,000		194		21.0	%		690,105		8.6	%		12,719,470	$	18.43		8.3	%		30
5,001 - 7,500		94		10.2	%		575,126		7.2	%		10,615,287	$	18.46		6.9	%		32
7,501 - 10,000		44		4.8	%		374,786		4.7	%		6,720,624	$	17.93		4.4	%		37
10,001 - 20,000		62		6.7	%		859,419		10.7	%		16,239,094	$	18.90		10.5	%		35
20,001 - 40,000		53		5.7	%		1,518,571		19.0	%		28,625,965	$	18.85		18.6	%		46
40,001 - 60,000		19		2.1	%		930,268		11.6	%		17,096,826	$	18.38		11.1	%		44
60,001 - 100,000		13		1.4	%		1,030,575		12.9	%		20,551,033	$	19.94		13.3	%		58
100,001 or Greater		8		0.9	%		1,483,983		18.5	%		31,482,008	$	21.21		20.4	%		67
Total / Weighted Average		925		100.0	%		8,011,229		100.0	%	$	153,953,691	$	19.22		100.0	%		45

	Square Feet		% of Total
Square footage occupied by tenants		8,011,229		79.5	%
Square footage attributable to vending/antenna		4,188		0.0	%
Square footage occupied by owner/building use		55,413		0.5	%
Total Occupied Square Footage		8,070,830		80.1	%
Leased square footage		394,885		3.9	%
Vacant square footage		1,613,884		16.0	%
Total Net Rentable Square Footage		10,079,599		100.0	%

(a)	Analysis does not include owner occupied space, vending leases and antenna leases.
(b)	Total net rentable square feet represented by existing leases.

(c) Annualized Gross Rent is the monthly contractual base rent and current reimbursements under existing leases as of June 30, 2004 multiplied by 12.

Page 19

CRT PROPERTIES, INC. AND SUBSIDIARIES
LEASE EXPIRATIONS
AS OF JUNE 30, 2004

City	Item	2004			2005			2006			2007			2008			2009
Atlanta	Square Feet (a)		127,447			179,347			103,862			234,127			257,483			657,091
	% Square Feet (b)		4.14	%		5.83	%		3.38	%		7.61	%		8.37	%		21.35	%
	Annualized Rent (c)		2,472,059			3,910,600			2,270,919			4,730,708			5,112,151			15,232,125
	Number of Leases (d)		36			37			43			36			27			21
	Rent PSF	$	19.40		$	21.80		$	21.86		$	20.21		$	19.85		$	23.18
Jacksonville	Square Feet (a)		157,948			172,508			184,790			289,001			97,729			6,917
	% Square Feet (b)		13.52	%		14.77	%		15.82	%		24.74	%		8.37	%		0.59	%
	Annualized Rent (c)		3,100,813			2,472,762			3,114,705			5,441,574			1,684,604			131,742
	Number of Leases (d)		7			3			7			9			4			2
	Rent PSF	$	19.63		$	14.33		$	16.86		$	18.83		$	17.24		$	19.05
Orlando	Square Feet (a)		236,230			184,940			174,668			188,120			159,653			70,966
	% Square Feet (b)		18.12	%		14.18	%		13.40	%		14.43	%		12.24	%		5.44	%
	Annualized Rent (c)		4,320,740			3,415,967			3,221,476			3,178,130			2,843,797			1,269,741
	Number of Leases (d)		54			54			46			29			14			10
	Rent PSF	$	18.29		$	18.47		$	18.44		$	16.89		$	17.81		$	17.89
Houston	Square Feet (a)		54,378			69,004			38,783			92,328			98,491			361,063
	% Square Feet (b)		4.51	%		5.73	%		3.22	%		7.66	%		8.18	%		29.97	%
	Annualized Rent (c)		1,057,526			1,310,958			750,597			1,723,187			1,861,072			6,505,072
	Number of Leases (d)		16			16			10			10			19			8
	Rent PSF	$	19.45		$	19.00		$	19.35		$	18.66		$	18.90		$	18.02
Tallahassee	Square Feet (a)		81,266			25,987			180,802			109,883			148,287			0
	% Square Feet (b)		9.72	%		3.11	%		21.63	%		13.15	%		17.74	%		0.00	%
	Annualized Rent (c)		1,510,755			457,674			3,091,457			2,031,271			2,605,694			0
	Number of Leases (d)		24			13			8			4			3			0
	Rent PSF	$	18.59		$	17.61		$	17.10		$	18.49		$	17.57		$	0.00
St. Petersburg	Square Feet (a)		102,432			144,369			79,193			76,417			109,533			36,072
	% Square Feet (b)		15.33	%		21.60	%		11.85	%		11.43	%		16.39	%		5.40	%
	Annualized Rent (c)		1,717,330			2,363,096			1,213,405			1,441,288			2,023,166			507,765
	Number of Leases (d)		35			29			16			18			8			7
	Rent PSF	$	16.77		$	16.37		$	15.32		$	18.86		$	18.47		$	14.08
Charlotte	Square Feet (a)		96,928			42,068			88,950			55,185			47,435			86,459
	% Square Feet (b)		13.67	%		5.93	%		12.54	%		7.78	%		6.69	%		12.19	%
	Annualized Rent (c)		1,905,115			739,263			1,458,756			945,155			784,860			1,400,380
	Number of Leases (d)		15			16			13			7			9			7
	Rent PSF	$	19.65		$	17.57		$	16.40		$	17.13		$	16.55		$	16.20
Memphis	Square Feet (a)		26,307			125,134			90,871			49,963			58,823			16,034
	% Square Feet (b)		4.94	%		23.48	%		17.05	%		9.37	%		11.04	%		3.01	%
	Annualized Rent (c)		509,152			2,429,897			1,681,359			882,414			1,154,301			288,966
	Number of Leases (d)		10			22			25			15			6			4
	Rent PSF	$	19.35		$	19.42		$	18.50		$	17.66		$	19.62		$	18.02
Richmond	Square Feet (a)		14,391			38,023			30,432			28,887			8,825			11,266
	% Square Feet (b)		9.92	%		26.20	%		20.97	%		19.90	%		6.08	%		7.76	%
	Annualized Rent (c)		291,420			785,026			625,902			567,588			168,658			224,545
	Number of Leases (d)		6			5			5			5			2			3
	Rent PSF	$	20.25		$	20.65		$	20.57		$	19.65		$	19.11		$	19.93
Dallas	Square Feet (a)		9,043			0			62,155			90,008			0			107,380
	% Square Feet (b)		3.24	%		0.00	%		22.25	%		32.22	%		0.00	%		38.43	%
	Annualized Rent (c)		206,542			0			1,742,526			2,272,558			0			2,817,797
	Number of Leases (d)		1			0			1			2			0			1
	Rent PSF	$	22.84		$	0.00		$	28.04		$	25.25		$	0.00		$	26.24
Rockville	Square Feet (a)		0			0			141,809			0			0			0
	% Square Feet (b)		0.00	%		0.00	%		91.62	%		0.00	%		0.00	%		0.00	%
	Annualized Rent (c)		0			0			3,672,937			0			0			0
	Number of Leases (d)		0			0			6			0			0			0
	Rent PSF	$	0.00		$	0.00		$	25.90		$	0.00		$	0.00		$	0.00
Total	Square Feet (a)		906,370			981,380			1,176,315			1,213,919			986,259			1,353,248
	% Square Feet (b)		8.99	%		9.74	%		11.67	%		12.04	%		9.78	%		13.43	%
	Annualized Rent (c)		17,091,453			17,885,242			22,844,038			23,213,873			18,238,302			28,378,133
	Number of Leases (d)		204			195			180			135			92			63
	Rent PSF	$	18.86		$	18.22		$	19.42		$	19.12		$	18.49		$	20.97

[Additional columns below]

[Continued from above table, first column(s) repeated]

City	Item	2010			2011			2012			2013 +			2014 +			Total
Atlanta	Square Feet (a)		133,311			44,524			161,048			276,647			212,452			2,387,339
	% Square Feet (b)		4.33	%		1.45	%		5.23	%		8.99	%		6.90	%		77.58	%
	Annualized Rent (c)		2,449,004			811,083			3,852,036			6,882,752			3,619,876			51,343,312
	Number of Leases (d)		7			4			9			2			7			229
	Rent PSF	$	18.37		$	18.22		$	23.92		$	24.88		$	17.04		$	21.51
Jacksonville	Square Feet (a)		0			56,249			0			0			176,000			1,141,142
	% Square Feet (b)		0.00	%		4.82	%		0.00	%		0.00	%		15.07	%		97.69	%
	Annualized Rent (c)		0			1,001,351			0			0			2,600,905			19,548,456
	Number of Leases (d)		0			2			0			0			1			35
	Rent PSF	$	0.00		$	17.80		$	0.00		$	0.00		$	14.78		$	17.13
Orlando	Square Feet (a)		778			0			7,080			0			0			1,022,435
	% Square Feet (b)		0.06	%		0.00	%		0.54	%		0.00	%		0.00	%		78.42	%
	Annualized Rent (c)		14,241			0			174,992			0			0			18,439,085
	Number of Leases (d)		1			0			1			0			0			209
	Rent PSF	$	18.30		$	0.00		$	24.72		$	0.00		$	0.00		$	18.03
Houston	Square Feet (a)		29,092			6,812			0			0			110,502			860,453
	% Square Feet (b)		2.41	%		0.57	%		0.00	%		0.00	%		9.17	%		71.42	%
	Annualized Rent (c)		492,616			117,848			0			0			1,766,209			15,585,086
	Number of Leases (d)		4			1			0			0			2			86
	Rent PSF	$	16.93		$	17.30		$	0.00		$	0.00		$	15.98		$	18.11
Tallahassee	Square Feet (a)		9,791			26,696			0			0			0			582,712
	% Square Feet (b)		1.17	%		3.19	%		0.00	%		0.00	%		0.00	%		69.73	%
	Annualized Rent (c)		146,865			354,125			0			0			0			10,197,840
	Number of Leases (d)		1			1			0			0			0			54
	Rent PSF	$	15.00		$	13.27		$	0.00		$	0.00		$	0.00		$	17.50
St. Petersburg	Square Feet (a)		33,025			0			0			0			0			581,041
	% Square Feet (b)		4.94	%		0.00	%		0.00	%		0.00	%		0.00	%		86.94	%
	Annualized Rent (c)		477,835			0			0			0			0			9,743,885
	Number of Leases (d)		3			0			0			0			0			116
	Rent PSF	$	14.47		$	0.00		$	0.00		$	0.00		$	0.00		$	16.77
Charlotte	Square Feet (a)		16,504			5,627			0			0			0			439,156
	% Square Feet (b)		2.33	%		0.79	%		0.00	%		0.00	%		0.00	%		61.92	%
	Annualized Rent (c)		216,888			33,762			0			0			0			7,484,179
	Number of Leases (d)		2			1			0			0			0			70
	Rent PSF	$	13.14		$	6.00		$	0.00		$	0.00		$	0.00		$	17.04
Memphis	Square Feet (a)		13,935			69,165			0			4,500			0			454,732
	% Square Feet (b)		2.61	%		12.98	%		0.00	%		0.84	%		0.00	%		85.31	%
	Annualized Rent (c)		218,425			1,002,086			0			69,750			0			8,236,350
	Number of Leases (d)		2			4			0			1			0			89
	Rent PSF	$	15.67		$	14.49		$	0.00		$	15.50		$	0.00		$	18.11
Richmond	Square Feet (a)		0			0			0			0			0			131,824
	% Square Feet (b)		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		90.83	%
	Annualized Rent (c)		0			0			0			0			0			2,663,139
	Number of Leases (d)		0			0			0			0			0			26
	Rent PSF	$	0.00		$	0.00		$	0.00		$	0.00		$	0.00		$	20.20
Dallas	Square Feet (a)		0			0			0			0			0			268,586
	% Square Feet (b)		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		96.13	%
	Annualized Rent (c)		0			0			0			0			0			7,039,423
	Number of Leases (d)		0			0			0			0			0			5
	Rent PSF	$	0.00		$	0.00		$	0.00		$	0.00		$	0.00		$	26.21
Rockville	Square Feet (a)		0			0			0			0			0			141,809
	% Square Feet (b)		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		91.62	%
	Annualized Rent (c)		0			0			0			0			0			3,672,937
	Number of Leases (d)		0			0			0			0			0			6
	Rent PSF	$	0.00		$	0.00		$	0.00		$	0.00		$	0.00		$	25.90
Total	Square Feet (a)		236,436			209,073			168,128			281,147			498,954			8,011,229
	% Square Feet (b)		2.35	%		2.07	%		1.67	%		2.79	%		4.95	%		79.48	%
	Annualized Rent (c)		4,015,874			3,320,256			4,027,029			6,952,502			7,986,990			153,953,691
	Number of Leases (d)		20			13			10			3			10			925
	Rent PSF	$	16.99		$	15.88		$	23.95		$	24.73		$	16.01		$	19.22

(a)	Total net rentable square feet represented by expiring leases. Expiration date reflects renewal expiration if fully executed.
(b)	Percentage of total net rentable feet represented by expiring leases.
(c)	Annualized Gross Rent is the monthly contractual base rent and current reimbursements under existing leases as of June 30, 2004 multiplied by 12. Rent abatements are not included in this analysis.
(d)	Analysis does not include owner occupied space, vending leases and antenna leases.

Page 20

CRT PROPERTIES, INC. AND SUBSIDIARIES
NET EFFECTIVE RENTS (a)

	6/30/2004			3/31/2004			12/31/2003			9/30/2003			Average
New/Backfill
Number of leases		53			40			48			43			46
Rentable square footage leased		265,959			167,078			181,905			110,793			181,434
Average per rentable square foot over the lease term:
Gross Rent	$	21.46		$	18.17		$	18.02		$	17.17		$	18.84
Tenant improvements		(2.64	)		(2.72	)		(2.34	)		(2.40	)		(2.52	)
Leasing commissions		(1.06	)		(0.59	)		(0.75	)		(0.51	)		(0.75	)
Other/concessions		(0.72	)		(0.71	)		(0.44	)		(0.98	)		(0.71	)
Effective Rent		17.04			14.15			14.49			13.28			14.87
Expense stop		(6.41	)		(4.62	)		(5.46	)		(5.02	)		(5.45	)
Equivalent effective net rent	$	10.63		$	9.53		$	9.03		$	8.26		$	9.42
Average term (yrs)		6.5			5.4			4.0			3.9			5.0

	6/30/2004			3/31/2004			12/31/2003			9/30/2003			Average
Renewals
Number of leases		56			42			37			30			41
Rentable square footage leased		278,593			142,832			202,518			134,632			189,644
Average per rentable square foot over the lease term:
Gross Rent	$	18.97		$	16.68		$	18.02		$	16.55		$	17.66
Tenant improvements		(0.84	)		(1.37	)		(0.39	)		(0.96	)		(0.87	)
Leasing commissions		(0.26	)		(0.28	)		(0.08	)		(0.25	)		(0.22	)
Other/concessions		(0.33	)		(0.08	)		(0.21	)		(0.35	)		(0.25	)
Effective Rent		17.54			14.95			17.34			14.99			16.33
Expense stop		(5.45	)		(5.54	)		(5.66	)		(4.84	)		(5.38	)
Equivalent effective net rent	$	12.09		$	9.41		$	11.68		$	10.15		$	10.95
Average term (yrs)		3.3			3.4			2.5			3.3			3.1

	6/30/2004			3/31/2004			12/31/2003			9/30/2003			Average
Total
Number of leases		109			82			85			73			87
Rentable square footage leased		544,552			309,910			384,423			245,425			371,078
Average per rentable square foot over the lease term:
Gross Rent	$	20.61		$	17.64		$	18.02		$	16.88		$	18.42
Tenant improvements		(2.02	)		(2.24	)		(1.54	)		(1.72	)		(1.87	)
Leasing commissions		(0.78	)		(0.48	)		(0.47	)		(0.39	)		(0.54	)
Other/concessions		(0.59	)		(0.48	)		(0.34	)		(0.68	)		(0.52	)
Effective Rent		17.22			14.43			15.67			14.09			15.48
Expense stop		(6.08	)		(4.94	)		(5.54	)		(4.94	)		(5.43	)
Equivalent effective net rent	$	11.14		$	9.49		$	10.13		$	9.15		$	10.05
Average term (yrs)		4.8			4.5			3.3			3.3			4.0

(a) Analysis does not include owner occupied space or leases with less than a one year term.

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CRT PROPERTIES, INC. AND SUBSIDIARIES
CAPITAL EXPENDITURES — LEASING ACTIVITY (a)

	Three Months Ended, Dollars (b)
	6/30/04		3/31/04		12/31/03		9/30/03		6/30/03
Renewal Leasing:
RSF Leased		278,593		142,832		202,518		134,632		108,254
Tenant Improvements	$	764,892	$	671,760	$	198,645	$	368,405	$	265,789
Leasing Commissions	$	238,207	$	138,663	$	40,153	$	96,107	$	133,622
Total Renewal	$	1,003,099	$	810,423	$	238,798	$	464,512	$	399,411
Backfill Leasing:
RSF Leased		64,345		45,853		47,586		73,355		34,603
Tenant Improvements	$	395,464	$	666,295	$	342,765	$	618,026	$	222,803
Leasing Commissions	$	263,069	$	119,045	$	113,057	$	129,522	$	71,506
Total Backfill	$	658,533	$	785,340	$	455,822	$	747,548	$	294,309
Sub-Total Revenue Maintaining:
RSF Leased		342,938		188,685		250,104		207,987		142,857
Tenant Improvements	$	1,160,356	$	1,338,055	$	541,410	$	986,431	$	488,592
Leasing Commissions	$	501,276	$	257,708	$	153,210	$	225,629	$	205,128
Total Revenue Maintaining	$	1,661,632	$	1,595,763	$	694,620	$	1,212,060	$	693,720
Revenue Enhancing — New/First Generation
RSF Leased		201,614		121,225		134,319		37,438		91,556
Tenant Improvements	$	4,194,926	$	1,784,295	$	1,371,742	$	425,671	$	1,128,510
Leasing Commissions	$	1,576,313	$	410,100	$	436,085	$	94,002	$	370,359
Total New/First Generation	$	5,771,239	$	2,194,395	$	1,807,827	$	519,673	$	1,498,869
Total:
RSF Leased		544,552		309,910		384,423		245,425		234,413
Tenant Improvements	$	5,355,282	$	3,122,350	$	1,913,152	$	1,412,102	$	1,617,102
Leasing Commissions	$	2,077,589	$	667,808	$	589,296	$	319,631	$	575,487
Total	$	7,432,871	$	3,790,158	$	2,502,447	$	1,731,733	$	2,192,589

[Additional columns below]

[Continued from above table, first column(s) repeated]

	Three Months Ended, PSF
	6/30/04		3/31/04		12/31/03		9/30/03		6/30/03
Renewal Leasing:
RSF Leased		278,593		142,832		202,518		134,632		108,254
Tenant Improvements	$	2.75	$	4.70	$	0.98	$	2.74	$	2.46
Leasing Commissions	$	0.86	$	0.97	$	0.20	$	0.71	$	1.23
Total Renewal	$	3.60	$	5.67	$	1.18	$	3.45	$	3.69
Backfill Leasing:
RSF Leased		64,345		45,853		47,586		73,355		34,603
Tenant Improvements	$	6.15	$	14.53	$	7.20	$	8.43	$	6.44
Leasing Commissions	$	4.09	$	2.60	$	2.38	$	1.77	$	2.07
Total Backfill	$	10.23	$	17.13	$	9.58	$	10.19	$	8.51
Sub-Total Revenue Maintaining:
RSF Leased		342,938		188,685		250,104		207,987		142,857
Tenant Improvements	$	3.38	$	7.09	$	2.16	$	4.74	$	3.42
Leasing Commissions	$	1.46	$	1.37	$	0.61	$	1.08	$	1.44
Total Revenue Maintaining	$	4.85	$	8.46	$	2.78	$	5.83	$	4.86
Revenue Enhancing — New/First Generation
RSF Leased		201,614		121,225		134,319		37,438		91,556
Tenant Improvements	$	20.81	$	14.72	$	10.21	$	11.37	$	12.33
Leasing Commissions	$	7.82	$	3.38	$	3.25	$	2.51	$	4.05
Total New/First Generation	$	28.63	$	18.10	$	13.46	$	13.88	$	16.37
Total:
RSF Leased		544,552		309,910		384,423		245,425		234,413
Tenant Improvements	$	9.83	$	10.08	$	4.98	$	5.75	$	6.90
Leasing Commissions	$	3.82	$	2.15	$	1.53	$	1.30	$	2.46
Total	$	13.65	$	12.23	$	6.51	$	7.06	$	9.35

(a)	Analysis does not include owner occupied space or leases with less than a one year term.
(b)	These figures reflect the dollars committed for improvements under the terms of the leases executed during each period. Actual expenditures and the period in which they are expended will vary.

Page 22

CRT PROPERTIES, INC. AND SUBSIDIARIES
SAME SUITE ANALYSIS - GAAP BASIS
YEAR TO DATE JUNE 30, 2004

	New/Backfill (a)												Renewal
	RSF		New		Expiring					Percent			RSF		New		Expiring					Percent
	Leased		Gross Rent		Gross Rent		Change			Change			Leased		Gross Rent		Gross Rent		Change			Change
Atlanta		48,292	$	19.13	$	18.58		$0.55			3.0	%		73,619	$	19.82	$	20.06		($0.24	)		-1.2	%
Orlando		53,857	$	17.77	$	17.96		($0.19	)		-1.1	%		56,920	$	17.19	$	16.37		$0.82			5.0	%
Jacksonville		12,492	$	22.34	$	18.35		$3.99			21.7	%		49,027	$	11.82	$	11.62		$0.20			1.7	%
Houston		9,681	$	17.49	$	16.81		$0.68			4.0	%		10,879	$	17.17	$	17.82		($0.65	)		-3.6	%
St. Petersburg		29,904	$	14.15	$	16.78		($2.63	)		-15.7	%		93,071	$	14.63	$	15.31		($0.68	)		-4.4	%
Tallahassee		10,799	$	21.57	$	21.43		$0.14			0.7	%		18,978	$	16.70	$	16.39		$0.31			1.9	%
Charlotte		14,146	$	14.36	$	15.83		($1.47	)		-9.3	%		47,247	$	19.83	$	19.05		$0.78			4.1	%
Memphis		22,574	$	15.88	$	18.48		($2.60	)		-14.1	%		37,312	$	18.66	$	19.61		($0.95	)		-4.8	%
Richmond		703	$	7.43	$	7.00		$0.43			6.1	%		22,568	$	19.52	$	20.46		($0.94	)		-4.6	%
Total		202,448	$	17.55	$	17.96		($0.41	)		-2.3	%		409,621	$	16.98	$	17.09		($0.11	)		-0.6	%

[Additional columns below]

[Continued from above table, first column(s) repeated]

	Total Leasing
	RSF		New		Expiring					Percent
	Leased		Gross Rent		Gross Rent		Change			Change
Atlanta		121,911	$	19.55	$	19.47		$0.07			0.4	%
Orlando		110,777	$	17.47	$	17.14		$0.33			1.9	%
Jacksonville		61,519	$	13.96	$	12.99		$0.97			7.5	%
Houston		20,560	$	17.32	$	17.34		($0.02	)		-0.1	%
St. Petersburg		122,975	$	14.51	$	15.67		($1.15	)		-7.4	%
Tallahassee		29,777	$	18.47	$	18.22		$0.25			1.4	%
Charlotte		61,393	$	18.57	$	18.31		$0.26			1.4	%
Memphis		59,886	$	17.61	$	19.18		($1.57	)		-8.2	%
Richmond		23,271	$	19.15	$	20.05		($0.90	)		-4.5	%
Total		612,069	$	17.17	$	17.38		($0.21	)		-1.2	%

(a) Analysis includes leases fully executed from 1/1/04 to 6/30/04 for buildings owned at 6/30/04.
Does not include First Generation space.

Page 23

CRT PROPERTIES, INC. AND SUBSIDIARIES
SAME SUITE ANALYSIS - CASH BASIS
YEAR TO DATE JUNE 30, 2004

	New/Backfill (a)												Renewal
	RSF		New		Expiring					Percent			RSF		New		Expiring					Percent
	Leased		Gross Rent		Gross Rent		Change			Change			Leased		Gross Rent		Gross Rent		Change			Change
Atlanta		48,292	$	18.07	$	19.21		($1.14	)		-5.9	%		73,619	$	20.14	$	20.30		($0.16	)		-0.8	%
Orlando		53,857	$	17.53	$	19.07		($1.54	)		-8.1	%		56,920	$	16.57	$	18.21		($1.64	)		-9.0	%
Jacksonville		12,492	$	22.22	$	18.42		$3.80			20.6	%		49,027	$	11.69	$	11.70		($0.01	)		-0.1	%
Houston		9,681	$	17.36	$	16.81		$0.55			3.3	%		10,879	$	16.49	$	18.09		($1.60	)		-8.8	%
St. Petersburg		29,904	$	14.51	$	18.32		($3.81	)		-20.8	%		93,071	$	14.38	$	15.82		($1.44	)		-9.1	%
Tallahassee		10,799	$	15.09	$	21.46		($6.37	)		-29.7	%		18,978	$	16.23	$	15.97		$0.26			1.6	%
Charlotte		14,146	$	14.27	$	17.06		($2.79	)		-16.4	%		47,247	$	18.74	$	19.09		($0.35	)		-1.8	%
Memphis		22,574	$	15.17	$	19.60		($4.43	)		-22.6	%		37,312	$	17.92	$	20.22		($2.30	)		-11.4	%
Richmond		703	$	7.00	$	7.00		$0.00			0.0	%		22,568	$	18.85	$	20.80		($1.95	)		-9.4	%
Total		202,448	$	16.84	$	18.85		($2.01	)		-10.7	%		409,621	$	16.61	$	17.58		($0.97	)		-5.5	%

[Additional columns below]

[Continued from above table, first column(s) repeated]

	Total Leasing
	RSF		New		Expiring					Percent
	Leased		Gross Rent		Gross Rent		Change			Change
Atlanta		121,911	$	19.32	$	19.87		($0.55	)		-2.8	%
Orlando		110,777	$	17.04	$	18.63		($1.59	)		-8.5	%
Jacksonville		61,519	$	13.83	$	13.06		$0.76			5.8	%
Houston		20,560	$	16.90	$	17.49		($0.59	)		-3.4	%
St. Petersburg		122,975	$	14.41	$	16.43		($2.02	)		-12.3	%
Tallahassee		29,777	$	15.82	$	17.96		($2.14	)		-11.9	%
Charlotte		61,393	$	17.71	$	18.62		($0.91	)		-4.9	%
Memphis		59,886	$	16.88	$	19.99		($3.10	)		-15.5	%
Richmond		23,271	$	18.49	$	20.38		($1.89	)		-9.3	%
Total		612,069	$	16.69	$	18.00		($1.32	)		-7.3	%

(a) Analysis includes leases fully executed from 1/1/04 to 6/30/04 for buildings owned at 6/30/04.
Does not include First Generation space.

Page 24