Wells Fargo Center LANDLORD PROPOSAL	705 Union Station LANDLORD PROPOSAL	Columbia Center LANDLORD COUNTER	City Centre TENANT COUNTER

Street Address	999 3rd Avenue	705 5th Ave S	701 5th Ave	1420 5th Avenue
City, State Zip	Seattle, WA 98104	Seattle, WA 98104	Seattle, WA 98104	Seattle, WA 98101
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	$100.00 per RSF	$50.00 per RSF	$50.00 per RSF
Lease Structure	Full Service	Full Service	Modified Gross	Modified Gross
Lease Term	61 months	84 months	84 months	96 months
Commencement Date	05/15/2013	04/29/2013	03/19/2013	06/13/2013

Rentable Area	100,000 SF	100,000 SF	100,000 SF	105,000 SF
Useable Area	87,719 SF	95,000 SF	84,745 SF	87,000 SF
Load Factor	14%	5.26%	18%	20.69%

Avg. Monthly Base Rent	211,301211,301	178,571178,571	179,762179,762	210,137210,137
Avg. Monthly Occupancy Cost	249,153	186,458	250,709	286,515
Avg. Annual Base Rent	2,535,6112,535,611	2,142,8572,142,857	2,157,1432,157,143	2,521,6412,521,641
Avg. Annual Occupancy Cost	2,989,833	2,237,496	3,008,504	3,438,177

Cumulative Base Rent	12,889,35512,889,355	15,000,00015,000,000	15,100,00015,100,000	20,173,12520,173,125
Cumulative Occupancy Cost	15,198,31815,198,318	15,662,46915,662,469	21,059,52621,059,526	27,505,41327,505,413

NPV of Base Rent @ 8.0%	10,472,33310,472,333	11,184,27811,184,278	11,244,04711,244,047	14,721,63514,721,635
NPV of Total Cost @ 8.0%	12,514,20512,514,205	11,788,64411,788,644	15,888,60115,888,601	20,475,93420,475,934

Avg. Base Rent / rsf	25.36	21.43	21.57	24.02
Avg. Total Cost / rsf	29.90	22.37	30.09	32.74
NPV of Base Rent / rsf / year	20.6020.60	15.9815.98	16.0616.06	17.5317.53
NPV of Total Cost / rsf / year	24.6224.62	16.8416.84	22.7022.70	24.3824.38

Avg. Base Rent / usf	28.9128.91	22.5622.56	25.4525.45	28.9828.98
Avg. Total Cost / usf	34.0834.08	23.5523.55	35.5035.50	39.5239.52
NPV of Base Rent / usf / year	23.4923.49	16.8216.82	18.9518.95	21.1521.15
NPV of Total Cost / usf / year	28.0628.06	17.7317.73	26.7826.78	29.4229.42

Base Rent Schedule
Year 1	18.75	10.00	10.00	21.08
Year 2	25.75	21.00	21.00	21.54
Year 3	26.52	22.00	22.00	22.00
Year 4	27.32	23.00	23.00	24.50
Year 5	28.14	24.00	24.00	25.00
Year 6	2.42	25.00	25.00	25.50
Year 7	-	25.00	26.00	26.00
Year 8	-	-	-	26.50
Avg. Base Rent	25.36	21.43	21.57	24.02

Total Annual Cost
Expenses & Credits	300,000	150,000	200,000	500,000
Year 1	2,263,000	1,000,000	1,633,333	2,948,750
Year 2	2,985,460	2,130,000	2,851,000	3,045,700
Year 3	3,085,744	2,260,901	3,003,531	3,144,116
Year 4	3,188,934	2,392,728	3,157,637	3,458,414
Year 5	3,295,115	2,525,510	3,313,366	3,564,267
Year 6	380,065	2,659,276	3,470,768	3,671,721
Year 7	-	2,694,054	3,629,891	3,780,823
Year 8	-	-	-	3,891,623
Security Deposit Refund	(100,000)	-	(50,000)	(100,000)
Cumulative Deal Cost	15,398,318	15,812,469	21,209,526	27,905,413