LeaseMatrix Headquarters

Columbia Center
LANDLORD COUNTER
701 5th Ave
Seattle, Washington 98104
US
Rentable Area
100,000 SF
Useable Area
84,746 SF
Load Factor
18%
Lease Term
84 months
Commencement Date
03/19/2013
Expiration Date
03/18/2020
TI Allowance
$50.00 per RSF
Landlord
Columbia Center, LLC
Building Class
Class A
Floor / Suite
Floors 14-17
Parking ratio
4 per 1,000
Security Deposit
$50,000
Lease Structure
Full Service
Renewal options
Two (2) Five (5) Year Options
Total Deal Cost
$21,209,526
NPV of Total Cost @ 8.0%
$15,888,601
Other notes
Landlord is willing to provide other floors for consideration.
Key Lease Metrics 1 2 3 4 5 6 7
Period Ending Average 03/2014 03/2015 03/2016 03/2017 03/2018 03/2019 03/2020
Months in Period 12 12 12 12 12 12 12
Base Rent per RSF 21.57 10.00 21.00 22.00 23.00 24.00 25.00 26.00
Expenses per RSF 8.51 6.33 7.51 8.04 8.58 9.13 9.71 10.30
Total Cost per RSF 30.09 16.3316.33 28.5128.51 30.0430.04 31.5831.58 33.1333.13 34.7134.71 36.3036.30
Average Monthly Cost 250,709 136,111136,111 237,583237,583 250,294250,294 263,136263,136 276,114276,114 289,231289,231 302,491302,491
Per Annum Total 3,008,504 1,633,3331,633,333 2,851,0002,851,000 3,003,5313,003,531 3,157,6373,157,637 3,313,3663,313,366 3,470,7683,470,768 3,629,8913,629,891
Cumulative Total   1,633,3331,633,333 4,484,3344,484,334 7,487,8647,487,864 10,645,50110,645,501 13,958,86713,958,867 17,429,63517,429,635 21,059,52621,059,526
Annual Financial Detail 1 2 3 4 5 6 7
Period Ending Average 03/2014 03/2015 03/2016 03/2017 03/2018 03/2019 03/2020
Base Rent 2,300,000 2,000,0002,000,000 2,100,0002,100,000 2,200,0002,200,000 2,300,0002,300,000 2,400,0002,400,000 2,500,0002,500,000 2,600,0002,600,000
Rent Abatement (142,857) (1,000,000)(1,000,000)
Total Rent 2,157,143 1,000,0001,000,000 2,100,0002,100,000 2,200,0002,200,000 2,300,0002,300,000 2,400,0002,400,000 2,500,0002,500,000 2,600,0002,600,000
                 
Expenses                
Over Base Year Stop 94,637 30,00030,000 60,90060,900 92,72792,727 125,509125,509 159,274159,274 194,052194,052
Janitorial 109,464 100,000100,000 103,000103,000 106,090106,090 109,273109,273 112,551112,551 115,927115,927 119,405119,405
Utilities 433,093 366,667366,667 412,000412,000 424,360424,360 437,091437,091 450,204450,204 463,710463,710 477,621477,621
Parking 214,166 166,667166,667 206,000206,000 212,180212,180 218,545218,545 225,102225,102 231,855231,855 238,810238,810
Total Expenses 851,361 633,333633,333 751,000751,000 803,531803,531 857,637857,637 913,366913,366 970,768970,768 1,029,8911,029,891
Expenses and Credits 0 1 2 3 4 5 6 7
Landlord Credits                
TI Allowance (5,000,000)              
Moving Allowance (100,000)
Tenant Cash Outlay                
Security Deposit 50,000             (50,000)
Moving Expenses 250,000
Total Buildout Cost 5,000,000
Total Expenses & Credits 200,000200,000 (50,000)(50,000)