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QUALIFICATIONS | Project Management Services 5

November 9, 2018

Austin Reynolds
Senior Vice President
Grmaercy Property Trust
550 Reserve Street, Suite 245
Southlake, Texas 76092
Re: Development Advisory and Project Management Services — 6000 Connection Drive | Irving, Texas

Dear Austin,

Thank you for the opportunity to provide our service and staffing solution to Gramercy Property Trust (GPT).
GPT is looking to engage a representative to i) advise on the value of existing conditions and assist in assessing what improvements should
remain and what additional enhancements should be made to the asset, ii) drive the project delivery process from concept development
through budget and jurisdictional approvals/permitting and iii) oversee and manage all capital improvements to the asset, providing direction
and leadership for the Architect and Engineers throughout the process. The identified scope of work includes: upgrades to the main and
secondary lobbies, new 500-car garage, covered walkway, +/- 10,000 sf amenity building, white box buildout of leasable area and other building
amenities.

Our Project & Development Services Team operates in a client-focused, best-in-class service-delivery mindset. Our approach is to work as an
extension of our owners, and instill a collaborative work environment with professional team members to drive the focus of your vision and
goals. By hiring JLL you get access to the largest network of project managers in the country—with over 1,950 professionals in 72 regional offices.
JLL is a leader in the management of design, construction and relocation services for corporate and institutional clients across the United States
and has been since 1967. We manage more than 15,000 projects annually, including $14 billion in project volume currently under management.

We believe we are uniquely positioned to represent GPT and deliver value in the following areas:

• Market presence – We have 60 Project Managers in the DFW Market and manage approximately $140 million in construction on over 250
projects annually. Our team manages approximately 40% of all third-party PM projects in the DFW market. We have great insight on the GC
and Trade market. We know who is over-burdened and we know who has the best project managers, superintendents and trade foreman.
We have strong relationships with local vendors and will bring the best to the bidding table. Furthermore, vendors will go the extra mile to
maintain strong relationships with JLL. This converts to leverage and value for you.
• Knowledge of 6000 Connection - One of our project managers has been involved with 6000 Connection since Nokia occupied the property
in 1998. He is intimately aware of the property’s MEP systems and additional improvements made to the building.
• Insight and knowledge of local jurisdiction and associations – Through our on-going work at 6000 Connection we are very familiar with
the Las Colinas Association and City of Irving building review and approval processes. We know what to anticipate for and how to navigate
through these agencies.
• Investor Focused Expertise – We have a team that is focused on working with our Institutional Clients on Investment properties. We
have experience working with a number of Investors on similar programs including Brookdale Group, KBS, Tier REIT, Beacon Capital, Union
Investment, Callahan Capital and others.
• Senior team – Our proposed team has an average of over 25+ years’ experience.
• Greater cost savings - Through our partnerships with industry-leading suppliers, we have developed a comprehensive list of top performing
suppliers and negotiated the best rates ensuring greater cost savings and high quality. In addition, we will save you money in the bidding
and negotiation process with vendors, by driving value engineering ideas, performing detailed cost reviews (including change orders), and a
reduction in the construction timeline
We hope the enclosed proposal meets your needs; however, if you require further information or clarification, please contact me.

We look forward to being your partner on this important project.

Sincerely,

R. Byron Edgmon
Managing Director
JLL, Project and Development Services

cc: Joe Winning, Gramercy Property Trust, Inc.