|
505 Union Station
LANDLORD PROPOSAL |
Columbia Center
LANDLORD COUNTER |
City Centre
TENANT COUNTER |
| Street Address | 999 3rd Avenue | 505 5th Ave S | 701 5th Ave | 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 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 | 87,720 SF | 90,091 SF | 84,746 SF | 91,305 SF |
| Load Factor | 14% | 11% | 18% | 15% |
| Avg. Total Cost / rsf | 20.24 | 3.35 | 1.33 | 3.42 |
| NPV of Total Cost / year / rsf | 20.5020.50 | 1.38 | 2.20 | 4.43 |
| NPV of Total Cost / year / usf | 23.3723.37 | 2.15 | 3.42 | 5.30 |
| Effective Rent | 14.3514.35 | 4.35 | 8.66 | 10.63 |
| Avg. Monthly Base Rent | 168,638168,638 | 27,890 | 11,124 | 38,393 |
| Avg. Monthly Occupancy Cost | 202,926 | 107 | 47,187 | 77,000 |
| NPV of Total Cost Per Month | 170,821 | 11,527 | 18,329 | 47,319 |
| Avg. Annual Base Rent | 2,023,654 | 334,679 | 133,489 | 460,721 |
| Avg. Annual Occupancy Cost | 2,435,117 | 1,286 | 566,244 | 923,996 |
| NPV of Total Cost Per Annum | 2,049,854 | 138,328 | 219,947 | 567,831 |
| NPV of Base Rent @ 8.0% | 8,248,180 | 2,732,596 | 2,995,867 | 4,937,846 |
| NPV of Total Cost @ 8.0% | 10,249,268 | 1,219,887 | 5,639,333 | 8,074,525 |
| Total Base Rent | 10,118,272 | 4,031,728 | 4,981,728 | 7,272,353 |
| Total Occupancy Cost | 12,175,583 | 2,442,832 | 8,833,943 | 11,338,208 |
| Total Deal Cost | 12,375,583 | 2,392,832 | 8,783,943 | 11,538,208 |
| Base Rent Schedule | ||||
|---|---|---|---|---|
| Year 1 | 15.00 | 3.50 | 5.00 | 6.08 |
| Year 2 | 20.60 | 3.40 | 0.40 | 0.94 |
| Year 3 | 21.22 | 3.78 | 0.78 | 0.78 |
| Year 4 | 21.85 | 4.15 | 1.15 | 2.65 |
| Year 5 | 22.51 | 4.49 | 1.49 | 2.49 |
| Year 6 | - | - | - | - |
| Year 7 | - | - | - | - |
| Avg. Base Rent | 20.24 | 3.35 | 1.33 | 3.42 |
| Total Annual Cost | ||||
|---|---|---|---|---|
| Expenses & Credits | 300,000 | 150,000 | 100,000 | 200,000 |
| Year 1 | 1,882,000 | 732,000 | 248,667 | 1,066,750 |
| Year 2 | 2,466,000 | 36,000 | 385,000 | 579,700 |
| Year 3 | 2,552,520 | 8,380 | 451,010 | 591,595 |
| Year 4 | 2,641,636 | 51,092 | 516,000 | 816,778 |
| Year 5 | 2,633,426 | 192,084 | 679,941 | 930,841 |
| Year 6 | - | - | - | - |
| Year 7 | - | - | - | - |
| Security Deposit Refund | (100,000) | 100,000 | 50,000 | - |
| Total Deal Cost | 12,375,583 | 2,392,832 | 8,783,943 | 11,538,208 |
