|
Wells Fargo Center
LANDLORD PROPOSAL |
505 Union Station
LANDLORD PROPOSAL |
Columbia Center
LANDLORD COUNTER |
| Street Address | 1420 5th Avenue | 999 3rd Avenue | 505 5th Ave S | 701 5th Ave |
|---|---|---|---|---|
| City, State Zip | Seattle, WA 98101 | Seattle, Washington 98104 | Seattle, Washington 98104 | Seattle, Washington 98104 |
| Country | USA | US | US | US |
| Property Level Report | View report | View report | View report | View report |
| Building Class | Class A | Class AA | Class A | Class A |
| Security Deposit | $100,000 | $100,000 | - | $50,000 |
| Parking Ratio | 2 per 1,000 | 1 per 1,000 | 5 per 1,000 | 4 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 | 06/13/2013 | 05/15/2013 | 04/29/2013 | 03/19/2013 |
| Expiration Date | 06/12/2020 | 05/14/2018 | 04/28/2019 | 03/18/2020 |
| Rentable Area | 105,000 SF | 100,000 SF | 100,000 SF | 100,000 SF |
| Useable Area | 91,305 SF | 87,720 SF | 90,091 SF | 84,746 SF |
| Load Factor | 15% | 14% | 11% | 18% |
| Avg. Total Cost / rsf | 23.66 | 3.42 | 0.08 | 2.09 |
| NPV of Total Cost / year / rsf | 24.9324.93 | 4.43 | 5.82 | 2.23 |
| NPV of Total Cost / year / usf | 28.6728.67 | 5.30 | 7.45 | 1.89 |
| Effective Rent | 24.9824.98 | 10.63 | 6.29 | 1.97 |
| Avg. Monthly Base Rent | 207,031207,031 | 38,393 | 10,503 | 27,269 |
| Avg. Monthly Occupancy Cost | 279,926 | 77,000 | 76,893 | 29,813 |
| NPV of Total Cost Per Month | 218,140 | 47,319 | 58,847 | 28,990 |
| Avg. Annual Base Rent | 2,484,375 | 460,721 | 126,042 | 327,232 |
| Avg. Annual Occupancy Cost | 3,359,113 | 923,996 | 922,710 | 357,752 |
| NPV of Total Cost Per Annum | 2,617,685 | 567,831 | 706,159 | 347,885 |
| NPV of Base Rent @ 8.0% | 13,186,027 | 4,937,846 | 2,205,251 | 1,941,980 |
| NPV of Total Cost @ 8.0% | 18,323,793 | 8,074,525 | 6,854,637 | 2,435,192 |
| Total Base Rent | 17,390,625 | 7,272,353 | 3,240,625 | 2,290,625 |
| Total Occupancy Cost | 23,513,790 | 11,338,208 | 8,895,376 | 2,504,265 |
| Total Deal Cost | 23,913,790 | 11,538,208 | 9,145,376 | 2,754,265 |
| Base Rent Schedule | ||||
|---|---|---|---|---|
| Year 1 | 21.08 | 6.08 | 9.58 | 11.08 |
| Year 2 | 21.54 | 0.94 | 2.46 | 0.54 |
| Year 3 | 22.00 | 0.78 | 3.00 | 0.00 |
| Year 4 | 24.50 | 2.65 | 1.50 | 1.50 |
| Year 5 | 25.00 | 2.49 | 2.00 | 1.00 |
| Year 6 | 25.50 | - | 2.50 | 0.50 |
| Year 7 | 26.00 | - | - | - |
| Avg. Base Rent | 23.66 | 3.42 | 0.08 | 2.09 |
| Total Annual Cost | ||||
|---|---|---|---|---|
| Expenses & Credits | 500,000 | 200,000 | 350,000 | 300,000 |
| Year 1 | 2,948,750 | 1,066,750 | 1,798,750 | 1,315,417 |
| Year 2 | 3,045,700 | 579,700 | 615,700 | 194,700 |
| Year 3 | 3,144,116 | 591,595 | 583,215 | 140,585 |
| Year 4 | 3,458,414 | 816,778 | 765,686 | 300,778 |
| Year 5 | 3,564,267 | 930,841 | 738,757 | 250,901 |
| Year 6 | 3,671,721 | - | 712,445 | 200,953 |
| Year 7 | 3,680,823 | - | - | 100,932 |
| Security Deposit Refund | (100,000) | - | 100,000 | 50,000 |
| Total Deal Cost | 23,913,790 | 11,538,208 | 9,145,376 | 2,754,265 |
