|
Wells Fargo Center
LANDLORD PROPOSAL |
Columbia Center
LANDLORD COUNTER |
City Centre
TENANT COUNTER |
| Street Address | 505 5th Ave S | 999 3rd Avenue | 701 5th Ave | 1420 5th Avenue |
|---|---|---|---|---|
| City, State Zip | Seattle, Washington 98104 | Seattle, Washington 98104 | Seattle, Washington 98104 | Seattle, WA 98101 |
| Country | US | US | US | USA |
| Property Level Report | View report | View report | View report | View report |
| Building Class | Class A | Class AA | Class A | Class A |
| Security Deposit | - | $100,000 | $50,000 | $100,000 |
| Parking Ratio | 5 per 1,000 | 1 per 1,000 | 4 per 1,000 | 2 per 1,000 |
| TI Allowance | $35.00 per RSF | $50.00 per RSF | $50.00 per RSF | $50.00 per RSF |
| Lease Structure | Full Service | Modified Net | Full Service | Full Service |
| Lease Term | 72 months | 60 months | 84 months | 84 months |
| Commencement Date | 04/29/2013 | 05/15/2013 | 03/19/2013 | 06/13/2013 |
| Expiration Date | 04/28/2019 | 05/14/2018 | 03/18/2020 | 06/12/2020 |
| Rentable Area | 100,000 SF | 100,000 SF | 100,000 SF | 105,000 SF |
| Useable Area | 90,091 SF | 87,720 SF | 84,746 SF | 91,305 SF |
| Load Factor | 11% | 14% | 18% | 15% |
| Avg. Total Cost / rsf | 23.58 | 3.35 | 2.01 | 0.08 |
| NPV of Total Cost / year / rsf | 19.1219.12 | 1.38 | 3.58 | 5.82 |
| NPV of Total Cost / year / usf | 21.2221.22 | 2.15 | 5.57 | 7.45 |
| Effective Rent | 18.7018.70 | 4.35 | 4.32 | 6.29 |
| Avg. Monthly Base Rent | 196,528196,528 | 27,890 | 16,766 | 10,503 |
| Avg. Monthly Occupancy Cost | 203,034 | 107 | 47,080 | 76,893 |
| NPV of Total Cost Per Month | 159,294 | 11,527 | 29,856 | 58,847 |
| Avg. Annual Base Rent | 2,358,333 | 334,679 | 201,190 | 126,042 |
| Avg. Annual Occupancy Cost | 2,436,402 | 1,286 | 564,958 | 922,710 |
| NPV of Total Cost Per Annum | 1,911,526 | 138,328 | 358,274 | 706,159 |
| NPV of Base Rent @ 8.0% | 10,980,776 | 2,732,596 | 263,271 | 2,205,251 |
| NPV of Total Cost @ 8.0% | 11,469,156 | 1,219,887 | 4,419,446 | 6,854,637 |
| Total Base Rent | 14,150,000 | 4,031,728 | 950,000 | 3,240,625 |
| Total Occupancy Cost | 14,618,415 | 2,442,832 | 6,391,111 | 8,895,376 |
| Total Deal Cost | 14,768,415 | 2,392,832 | 6,391,111 | 9,145,376 |
| Base Rent Schedule | ||||
|---|---|---|---|---|
| Year 1 | 11.50 | 3.50 | 1.50 | 9.58 |
| Year 2 | 24.00 | 3.40 | 3.00 | 2.46 |
| Year 3 | 25.00 | 3.78 | 3.00 | 3.00 |
| Year 4 | 26.00 | 4.15 | 3.00 | 1.50 |
| Year 5 | 27.00 | 4.49 | 3.00 | 2.00 |
| Year 6 | 28.00 | - | 3.00 | 2.50 |
| Year 7 | - | - | - | - |
| Avg. Base Rent | 23.58 | 3.35 | 2.01 | 0.08 |
| Total Annual Cost | ||||
|---|---|---|---|---|
| Expenses & Credits | 150,000 | 150,000 | 50,000 | 350,000 |
| Year 1 | 1,150,000 | 732,000 | 483,333 | 1,798,750 |
| Year 2 | 2,430,000 | 36,000 | 421,000 | 615,700 |
| Year 3 | 2,560,901 | 8,380 | 442,630 | 583,215 |
| Year 4 | 2,692,728 | 51,092 | 464,909 | 765,686 |
| Year 5 | 2,825,510 | 192,084 | 487,856 | 738,757 |
| Year 6 | 2,959,276 | - | 511,492 | 712,445 |
| Year 7 | - | - | - | - |
| Security Deposit Refund | - | 100,000 | 50,000 | 100,000 |
| Total Deal Cost | 14,768,415 | 2,392,832 | 6,391,111 | 9,145,376 |
