|
Wells Fargo Center
LANDLORD PROPOSAL |
505 Union Station
LANDLORD PROPOSAL |
Columbia Center
LANDLORD COUNTER |
City Centre
TENANT COUNTER |
| Street Address | 999 3rd Avenue | 505 5th Ave S | 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 AA | Class A | Class A | Class A |
| Security Deposit | $100,000 | - | $50,000 | $100,000 |
| Parking Ratio | 1 per 1,000 | 5 per 1,000 | 4 per 1,000 | 2 per 1,000 |
| TI Allowance | $50.00 per RSF | $35.00 per RSF | $50.00 per RSF | $50.00 per RSF |
| Lease Structure | Modified Net | Full Service | Full Service | Full Service |
| Lease Term | 60 months | 72 months | 84 months | 84 months |
| Commencement Date | 05/15/2013 | 04/29/2013 | 03/19/2013 | 06/13/2013 |
| Expiration Date | 05/14/2018 | 04/28/2019 | 03/18/2020 | 06/12/2020 |
| Rentable Area | 100,000 SF | 100,000 SF | 100,000 SF | 105,000 SF |
| Useable Area | 87,720 SF | 90,091 SF | 84,746 SF | 91,305 SF |
| Load Factor | 14% | 11% | 18% | 15% |
| Avg. Total Cost / rsf | 24.35 | 24.36 | 30.01 | 31.99 |
| NPV of Total Cost / year / rsf | 20.5020.50 | 19.1219.12 | 22.7022.70 | 24.9324.93 |
| NPV of Total Cost / year / usf | 23.3723.37 | 21.2221.22 | 26.7826.78 | 28.6728.67 |
| Effective Rent | 14.35 | 18.70 | 23.01 | 24.98 |
| Avg. Monthly Base Rent | 168,638168,638 | 196,528196,528 | 179,762179,762 | 207,031207,031 |
| Avg. Monthly Occupancy Cost | 202,926 | 203,034 | 250,113 | 279,926 |
| NPV of Total Cost Per Month | 170,821 | 159,294 | 189,150 | 218,140 |
| NPV of Total Cost Per Year | 2,049,8542,049,854 | 1,911,5261,911,526 | 2,269,8002,269,800 | 2,617,6852,617,685 |
| Avg. Annual Base Rent | 2,023,6542,023,654 | 2,358,3332,358,333 | 2,157,1432,157,143 | 2,484,3752,484,375 |
| Avg. Annual Occupancy Cost | 2,435,117 | 2,436,402 | 3,001,361 | 3,359,113 |
| NPV of Base Rent @ 8.0% | 8,248,1808,248,180 | 10,980,77610,980,776 | 11,244,04711,244,047 | 13,186,02713,186,027 |
| NPV of Total Cost @ 8.0% | 10,249,26810,249,268 | 11,469,15611,469,156 | 15,888,60115,888,601 | 18,323,79318,323,793 |
| Total Base Rent | 10,118,27210,118,272 | 14,150,00014,150,000 | 15,100,00015,100,000 | 17,390,62517,390,625 |
| Total Occupancy Cost | 12,175,58312,175,583 | 14,618,41514,618,415 | 21,009,52621,009,526 | 23,513,79023,513,790 |
| Total Deal Cost | 12,375,583 | 14,768,415 | 21,159,526 | 23,913,790 |
| Total Cost per RSF | ||||
|---|---|---|---|---|
| Year 1 | 18.82 | 11.50 | 16.33 | 28.08 |
| Year 2 | 24.66 | 24.30 | 28.51 | 29.01 |
| Year 3 | 25.53 | 25.61 | 30.04 | 29.94 |
| Year 4 | 26.42 | 26.93 | 31.58 | 32.94 |
| Year 5 | 26.33 | 28.26 | 33.13 | 33.95 |
| Year 6 | - | 29.59 | 34.71 | 34.97 |
| Year 7 | - | - | 35.80 | 35.06 |
| Avg. Total Cost per RSF | 24.35 | 24.36 | 30.01 | 31.99 |
| Total Annual Cost | ||||
|---|---|---|---|---|
| Expenses & Credits | 300,000 | 150,000 | 200,000 | 500,000 |
| Year 1 | 1,882,000 | 1,150,000 | 1,633,333 | 2,948,750 |
| Year 2 | 2,466,000 | 2,430,000 | 2,851,000 | 3,045,700 |
| Year 3 | 2,552,520 | 2,560,901 | 3,003,531 | 3,144,116 |
| Year 4 | 2,641,636 | 2,692,728 | 3,157,637 | 3,458,414 |
| Year 5 | 2,633,426 | 2,825,510 | 3,313,366 | 3,564,267 |
| Year 6 | - | 2,959,276 | 3,470,768 | 3,671,721 |
| Year 7 | - | - | 3,579,891 | 3,680,823 |
| Security Deposit Refund | ($100,000) | - | ($50,000) | ($100,000) |
| Total Deal Cost | 12,375,583 | 14,768,415 | 21,159,526 | 23,913,790 |
