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 $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 87,719 SF 90,090 SF 84,745 SF 91,304 SF
Load Factor 14% 11% 18% 15%
 
Avg. Base Rent / rsf 20.24 23.58 21.57 23.66
Avg. Base Rent / usf 23.07 26.18 25.45 27.21
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 14.55 18.70 23.09 25.12
 
Avg. Monthly Base Rent 168,638168,638 196,528196,528 179,762179,762 207,031207,031
Avg. Monthly Occupancy Cost 204,593 203,034 250,709 281,117
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 2,455,117 2,436,402 3,008,504 3,373,399
 
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 12,275,58312,275,583 14,618,41514,618,415 21,059,52621,059,526 23,613,79023,613,790
Total Deal Cost 12,475,583 14,768,415 21,209,526 24,013,790
Base Rent Schedule        
Year 1 15.00 11.50 10.00 21.08
Year 2 20.60 24.00 21.00 21.54
Year 3 21.22 25.00 22.00 22.00
Year 4 21.85 26.00 23.00 24.50
Year 5 22.51 27.00 24.00 25.00
Year 6 - 28.00 25.00 25.50
Year 7 - - 26.00 26.00
Avg. Base Rent 20.24 23.58 21.57 23.66
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 2,733,426 2,825,510 3,313,366 3,564,267
Year 6 - 2,959,276 3,470,768 3,671,721
Year 7 - - 3,629,891 3,780,823
Security Deposit Refund ($100,000) - ($50,000) ($100,000)
Total Deal Cost 12,475,583 14,768,415 21,209,526 24,013,790