Determine where the subject property is in 1) its life cycle and 2) the relevant economic cycle, and where the geographical area, in which it is located, is in its life cycle. This should include a discussion of the transportation network opportunities. You first need to discuss what kind of investor you represent, thus risk/return profile. Make sure that you discuss supply and demand as well as vacancy rates, both current and expected in the short, medium and long run. For the demand side of the property make sure that you analyze the relevant drivers of the demand