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