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 14.5514.55 4.15 8.53 10.57
 
Avg. Monthly Base Rent 168,638168,638 27,890 11,124 38,393
Avg. Monthly Occupancy Cost 204,593 1,560 46,116 76,524
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 2,455,117 18,714 553,387 918,282
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 12,275,583 2,342,832 8,783,943 11,338,208
Total Deal Cost 12,475,583 2,292,832 8,733,943 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 2,733,426 92,084 579,941 830,841
Year 6 - - - -
Year 7 - - - -
Security Deposit Refund (100,000) 100,000 50,000 -
Total Deal Cost 12,475,583 2,292,832 8,733,943 11,538,208