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 25.1225.12 10.57 6.42 2.04
 
Avg. Monthly Base Rent 207,031207,031 38,393 10,503 27,269
Avg. Monthly Occupancy Cost 281,117 76,524 78,083 30,408
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 3,373,399 918,282 936,996 364,895
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 23,613,790 11,338,208 8,995,376 2,554,265
Total Deal Cost 24,013,790 11,538,208 9,245,376 2,804,265
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 3,564,267 830,841 738,757 250,901
Year 6 3,671,721 - 712,445 200,953
Year 7 3,780,823 - - 150,932
Security Deposit Refund (100,000) - 100,000 50,000
Total Deal Cost 24,013,790 11,538,208 9,245,376 2,804,265