Cleveland State of the Market

Brian A. Hurtuk serves as Managing Director for Colliers International in Cleveland. In his role, Mr. Hurtuk provides the leadership and guidance necessary to elevate the Colliers International brand to a wide variety of commercial real estate users. With more than 30 years of commercial real estate and business development expertise, Mr. Hurtuk utilizes his extensive background in office sales and leasing to serve as market leader for the Cleveland office. PROFESSIONAL ACCOMPLISHMENTS Mr. Hurtuk is an active member of numerous professional associations and also has been recognized for his professional expertise by many of the organizations below: • National Association of Industrial and Office Properties (NAIOP), “Investment Deal of the Year” Winner, 2012 • Newcomer of the Year, Colliers International, 2013 • Midwest Real Estate Hall of Fame, 2013 • Crain’s Cleveland Business, Forty Under 40 • NAIOP Board of Trustees, 1989-Present • Leadership Cleveland-Class of 2002 • NAIOP, President (Northern Ohio Chapter), 1992-1993 • CoStar Power Broker, 2012, 2014 & 2016 • St. Peter Chanel High School Alumni Hall of Fame, 1989 BUSINESS BACKGROUND Mr. Hurtuk began his career at Ernst & Whinney (now Ernst & Young) as an auditor. After more than five years in the accounting field, he made the transition into the commercial real estate industry when he joined Ostendorf-Morris Co. as a sales and leasing specialist. In 1992, he accepted a position with Amsdell Companies where he oversaw the ongoing leasing of more than 25 business parks throughout the United States, and spearheaded the development of several new projects in Northeastern Ohio. Prior to leading the Cleveland office of Colliers International, Mr. Hurtuk served as First Vice President for CBRE and specialized in office leasing in Cleveland’s Central Business District. COMMUNITY INVOLVEMENT • The Ohio Foundation of Independent Colleges Board of Trustees • The Cathedral of St. John The Evangelist Lector

Ed joined Weston in 1987, the first of the Asher brothers to join the corporation.  He has since held positions in acquisitions, development, dispositions, property management, financing and leasing.                                  Ed has identified attractive acquisition and development opportunities to expand Weston’s footprint.  He has worked on multiple complex debt and financing transactions including over $200 million of Federal and State Government loans, and conventional bank, insurance company and conduit loans and Port Authority Bond financings.  He has also raised over $50 million from various equity sources including Federal and State Historic Tax Credits and private and institutional investors.                 An active participant in the corporation’s Board of Directors, he has served on numerous Boards including The City Club of Cleveland, The Salvation Army, The American Task Force for Lebanon and the Aitaneet Foundation.                 Ed received a Bachelor’s degree from Auburn University and Master’s degree in Business Administration from Case Western Reserve University.  A Cleveland native, he resides in Russell, Ohio with his wife, Becky and their three children.

Terry Coyne is a vice chairman in the Cleveland office of commercial real estate services firm, Newmark Knight Frank (NKF). Over the past ten years, he has been involved in the sale or leasing of more than 1 billion dollars’ worth of real estate. In his 20-plus- year career, his specialty has become large, complex, industrial and investment properties that cover the northern part of the state of Ohio. A top earner in the Cleveland office since 2002, Terry has recently earned the distinction of being the top-producing industrial broker for NKF nationally in 2013, 2014 and 2016. He has placed in the top 50 (2013) and top 20 (2014) amongst all commercial real estate brokers in the United States. In 2017, Real Estate Forum selected Terry as 13th in the United States in overall industrial leasing and 13th in the United States in overall industrial investment sales from July 1, 2016 to June 30, 2017. Terry is also a multiple winner of NAIOP Broker of the Year, Industrial Transaction of the Year and Investment Broker of the Year. He is a Midwest Commercial Real Estate Hall of Famer. Terry is a member of the Society of Industrial and Office Realtors (SIOR), is a Certified Commercial Investment Member (CCIM) and a member of the Cleveland Area Board of Realtors (CABOR). In addition to being an active industry leader, he is a dedicated community leader as a board member of the Rock and Roll Hall of Fame and Museum, Village Capital Corporation and Magnificat High School. Terry earned his master’s degree from the University of Chicago and his bachelor’s degree from the University of Notre Dame. He has also attended St. Catherine’s College, Oxford University.

Mr. Goldberg joined Seefried in May 2016 as Vice President of Construction. He is responsible for managing development and construction activities for Seefried’s build-to- suit and speculative developments throughout the United States from entitlements through construction completion. He has recently completed an Amazon fulfillment center in Houston, TX and a two building speculative development in Buford, GA. Currently he is managing the two new Amazon fulfillment centers being built in NE Ohio – North Randall and Euclid. Prior to joining Seefried, Adam spent 11 years with ARCO Design/Build as a Senior Project Manager on industrial speculative & build-to- suit projects and cold storage facilities on the Eastern half of the United States for companies such as Whole Foods, Icelandic, Topgolf, Mando America, Vistar and American Tire. Prior to ARCO, Adam spent 8 years at The Facility Group as a Project Manager on industrial and food processing projects across the Unites States and France for such companies as Coca-Cola Enterprises, Dairy Farmers of America, Randalls Markets and Meadowbrook Farms. Adam earned a Bachelor of Science in Building Construction from The Georgia Institute of Technology and is a LEED Accredited Professional.

J. Kieran Jennings is Managing Partner at Siegel Jennings Co., L.P.A. Previously a Certified Public Accountant (CPA), Kieran focuses his practice on real property taxation and general state and local tax litigation. He has successfully tried cases before administrative boards, tribunals, courts, and appellate courts, including the Ohio Supreme Court. Kieran has experience in managing real property tax appeals throughout the U.S. and Canada and assists clients in due diligence property acquisitions, tax planning, and structured agreements between taxpayers and taxing jurisdictions. Kieran is the Vice President and a member of the Executive Board of the American Property Tax Counsel (APTC), a national organization of which Siegel Jennings is a founding member. Kieran is also on the Board of Directors for the Northern Ohio Chapter of NAIOP. Kieran regularly conducts seminars and workshops on numerous on property tax issues to industry groups like the National Retail Round Table, The Ohio Society of CPAs, Institute for Professionals in Taxation (IPT), International Association of Assessing Officers (IAAO), National Business Institute, and Lorman Education Service. In 2016, Kieran was awarded the CRE (Counselor of Real Estate) credential by The Counselors of Real Estate, an international group of high-profile real estate practitioners who provide expert advisory services to clients on complex real property and land-related matters. Of the over 150,000 practitioners in commercial real estate today, fewer than 1,100 currently hold the CRE credential.

Richard Pace is a registered architect in Ohio. Upon receiving his architectural degree from the University of Michigan in 1979, Pace began his practice with Dalton, van Dijk, Johnson Architects in Cleveland, Ohio. During his time at the firm, he managed numerous large and complex projects, including master plans for the city’s waterfront, Warehouse District and University Circle, as well as corporate headquarter projects for BF Goodrich, Lubrizol and Parker Hannifin. He also managed the preservation of the Society for Savings Building on Public Square (KeyBank Headquarters) as well as the preservation of President Garfield’s home in Lawnfield. Pace became Partner at the firm in 1989 and Managing Partner in 1992. During his time in management, the firm integrated engineering into its services; an office in Phoenix, Arizona was added; the firm’s staff more than doubled to 125 people, and revenues increased from $4 million to $18 million annually. At the end of 2001, Pace sold his ownership in the firm to his Partners and, in 2002, founded Cumberland Development, LLC. Cumberland Development currently owns and manages two properties - the Cleveland Clinic Foundation Business Operation Center in Independence, Ohio, and the Baker Electric Building in Cleveland, Ohio - and maintains a master lease on the ground floor retail portion of a third - the historic Euclid and Colonial Arcades, now branded as the 5 th Street Arcades, in downtown Cleveland. In early 2014, the City of Cleveland selected Pace as the developer for the Cleveland Lakefront project. In June 2014, Cleveland City Council approved plans for the $700 million development that will be built over three phases. The project, a joint venture between Cumberland Development and Trammell Crow Company of Dallas, is situated on 20+ acres north of the Cleveland Browns’ stadium and Rock and Roll Hall of Fame and Museum, and will include a school, a boutique hotel, restaurants, office space and apartments. Pace’s other real estate development experience includes the purchase, renovation, management and successful sale of three apartment buildings in University Circle and a commercial project, the Lorenzo Carter Building, in downtown Cleveland’s Warehouse District. Dick lives in Shaker Heights, Ohio with his wife, Cheri, and his son, Alex and daughter, Catherine. He currently serves as a Trustee for the Breakthrough Charter Schools.

Michael Barron is a senior managing director of Institutional Property Advisors (IPA), a division of Marcus & Millichap. Mr. Barron and his business partners, Daniel Burkons and Joshua Wintermute, oversee IPA’s Midwest multifamily operations.  Mr. Barron is one of three original founders of Marcus & Millichap’s Cleveland Office. His leadership and specialization within the Midwest apartment market enables him to create substantial value for major private and institutional investors.  Mr. Barron joined the firm in 2003 and he and his team, Barron, Burkons, Wintermute Group (BBWG) have sold over 42,000 units across 14 states totaling over $1.83 billion. In 2012, Mr. Barron was inducted into the Midwest Commercial Real Estate Hall of Fame , he currently holds the CCIM designation, and he received his Bachelor of Arts degree from The Ohio State University.

With more than 40 years of public accounting experience, Cindy has spent the majority of her career concentrating in taxation. Regularly assisting clients with tax, financial, and estate planning. She specializes in partnership and corporate tax law with an emphasis in the real estate, health care, and dental industries. A graduate of Cleveland State University with a Bachelor of Science in computer and information science, Cindy is a frequent speaker to and writer for industry, business, and community groups and trade associations. Cindy is a member of the American Institute of CPAs, The Ohio Society of CPAs, and The OSCPA Scholarship Committee. She also sits on The OSCPA Global Advisory Committee and previously was part of the planning committee of the MEGA Tax conference. Cindy is a Eucharistic minister and former PSR instructor at St. Columbkille. In addition, she served on the strategic planning committee of Parma City Schools. An honorary lifetime member of both the National Parent Teacher Association and Ohio PTA, Cindy held many different offices over the years, including president. In her spare time, she enjoys walking, volunteering, and spending time with family.

A seasoned financial professional with more than two decades of experience, Suzanne Hamilton is Vice President and Commercial Real Estate Loan Officer at First Federal Lakewood, the largest independent depositor-owned bank headquartered in Ohio with assets of $1.6 billion. In this role, she cultivates new client relationships, provides expert profitability analysis of project investments, and manages commercial real estate customers. Suzanne has received several professional accolades including the CREW Award for Exceptional Achievement and the CREW Member of the Year Award. She was also inducted to the Biltmore’s “Who’s Who” list in 2007 and in 2008 was named as a YWCA Woman of Professional Excellence. Suzanne graduated with a degree in Accounting and Finance from Otterbein College and holds a Master of Business Administration degree in finance and marketing from The Ohio State University. BUSINESS DEVELOPMENT • As the Vice President at a $162 billion international financial organization, generated $150 million in new business annually. • Developed and managed portfolios ranging in size from $56 million to $300 million. • Increased commercial real estate sales for a local financial group from $20 million to $56.5 million within 18 months. • Implemented initiatives with the commercial real estate team of a $58 billion regional financial institution and the treasury management group that increased deposits by 27% in one year. PORTFOLIO MANAGEMENT • Structured financial solutions for investors and developers that included loans, derivatives, deposits, and cash management strategies. • Created a loan portfolio for Real Estate lnvestment Trusts and REIT-sized companies of $230 million. • Delivered an innovative model of Optimal Customer Relationship strategy to Commercial Real Estate teams. UNDERWRITING • Directed the Underwriting process to ensure viability and accuracy. • Developed analyses and valuations on commercial properties, investments and projects. CIVIC & PROFESSIONAL ASSOCIATION INVOLVEMENT • Advisory Council member and former President of Commercial Real Estate Women • Current member and former President of Greater Cleveland Real Estate Association • First American National Commercial Services Advisory Board • YWCA Board of Directors • Member of Commercial Real Estate Women (President 2002) and NAIOP • HRC Board of Directors • Guest Lecturer at Cleveland State University, College of Urban Affairs • Treasurer of the United Church of Christ Council

Cleveland’s 56th Mayor, Frank G. Jackson, took office January 2, 2006. He has since been re-elected three times - in 2009, 2013, and 2016. As Mayor, Jackson is focused on ensuring that the City offers an excellent quality of life for every resident, business and visitor; and, is addressing every aspect of operations and policy to guarantee that he reaches that goal. He is committed to providing exceptional, quality service and has led positive change throughout his tenure as mayor, particularly in the areas of Public Safety, City Finances and Operations, Education, Sustainability and Development. Mayor Jackson is a Cleveland Public Schools graduate and Army veteran. He earned an associate’s degree from Cuyahoga Community College and his bachelor’s degree, master’s degree, and law degree from Cleveland State University. Jackson began his public service career as an Assistant City Prosecutor in the Cleveland Municipal Court Clerk’s Office. From 1990 through 2005, Jackson represented Cleveland’s 5th Ward on Cleveland City Council. From 2002 – 2005, Jackson also served as President of Cleveland City Council.