|
Wells Fargo Center
LANDLORD PROPOSAL |
505 Union Station
LANDLORD PROPOSAL |
City Centre
TENANT COUNTER |
| Street Address | 701 5th Ave | 999 3rd Avenue | 505 5th Ave S | 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 | $50,000 | $100,000 | - | $100,000 |
| Parking Ratio | 4 per 1,000 | 1 per 1,000 | 5 per 1,000 | 2 per 1,000 |
| TI Allowance | $50.00 per RSF | $50.00 per RSF | $35.00 per RSF | $50.00 per RSF |
| Lease Structure | Full Service | Modified Net | Full Service | Full Service |
| Lease Term | 84 months | 60 months | 72 months | 84 months |
| Commencement Date | 03/19/2013 | 05/15/2013 | 04/29/2013 | 06/13/2013 |
| Expiration Date | 03/18/2020 | 05/14/2018 | 04/28/2019 | 06/12/2020 |
| Rentable Area | 100,000 SF | 100,000 SF | 100,000 SF | 105,000 SF |
| Useable Area | 84,746 SF | 87,720 SF | 90,091 SF | 91,305 SF |
| Load Factor | 18% | 14% | 11% | 15% |
| Avg. Total Cost / rsf | 21.57 | 1.33 | 2.01 | 2.09 |
| NPV of Total Cost / year / rsf | 22.7022.70 | 2.20 | 3.58 | 2.23 |
| NPV of Total Cost / year / usf | 26.7826.78 | 3.42 | 5.57 | 1.89 |
| Effective Rent | 23.0123.01 | 8.66 | 4.32 | 1.97 |
| Avg. Monthly Base Rent | 179,762179,762 | 11,124 | 16,766 | 27,269 |
| Avg. Monthly Occupancy Cost | 250,113 | 47,187 | 47,080 | 29,813 |
| NPV of Total Cost Per Month | 189,150 | 18,329 | 29,856 | 28,990 |
| Avg. Annual Base Rent | 2,157,143 | 133,489 | 201,190 | 327,232 |
| Avg. Annual Occupancy Cost | 3,001,361 | 566,244 | 564,958 | 357,752 |
| NPV of Total Cost Per Annum | 2,269,800 | 219,947 | 358,274 | 347,885 |
| NPV of Base Rent @ 8.0% | 11,244,047 | 2,995,867 | 263,271 | 1,941,980 |
| NPV of Total Cost @ 8.0% | 15,888,601 | 5,639,333 | 4,419,446 | 2,435,192 |
| Total Base Rent | 15,100,000 | 4,981,728 | 950,000 | 2,290,625 |
| Total Occupancy Cost | 21,009,526 | 8,833,943 | 6,391,111 | 2,504,265 |
| Total Deal Cost | 21,159,526 | 8,783,943 | 6,391,111 | 2,754,265 |
| Base Rent Schedule | ||||
|---|---|---|---|---|
| Year 1 | 10.00 | 5.00 | 1.50 | 11.08 |
| Year 2 | 21.00 | 0.40 | 3.00 | 0.54 |
| Year 3 | 22.00 | 0.78 | 3.00 | 0.00 |
| Year 4 | 23.00 | 1.15 | 3.00 | 1.50 |
| Year 5 | 24.00 | 1.49 | 3.00 | 1.00 |
| Year 6 | 25.00 | - | 3.00 | 0.50 |
| Year 7 | 26.00 | - | - | - |
| Avg. Base Rent | 21.57 | 1.33 | 2.01 | 2.09 |
| Total Annual Cost | ||||
|---|---|---|---|---|
| Expenses & Credits | 200,000 | 100,000 | 50,000 | 300,000 |
| Year 1 | 1,633,333 | 248,667 | 483,333 | 1,315,417 |
| Year 2 | 2,851,000 | 385,000 | 421,000 | 194,700 |
| Year 3 | 3,003,531 | 451,010 | 442,630 | 140,585 |
| Year 4 | 3,157,637 | 516,000 | 464,909 | 300,778 |
| Year 5 | 3,313,366 | 679,941 | 487,856 | 250,901 |
| Year 6 | 3,470,768 | - | 511,492 | 200,953 |
| Year 7 | 3,579,891 | - | - | 100,932 |
| Security Deposit Refund | (50,000) | 50,000 | 50,000 | 50,000 |
| Total Deal Cost | 21,159,526 | 8,783,943 | 6,391,111 | 2,754,265 |
