Rentable Area 124,800 SF |
Lease Term 60 months |
Commencement Date 05/07/2013 |
TI Allowance $5.00 per RSF |
Landlord Duke Realty |
Building Class Class A |
Dock description 16 Dock doors (9' x10') |
Lease Structure Modified Gross |
Power 2,500 amps; 480 volt; 3-phase |
Concessions / Incentives 3 months free rent |
Column Spacing 40' x 40' column spacing |
Sprinklers ESFR sprinkler system |
Total Deal Cost $2,718,406 |
NPV of Total Cost @ 8.0% $2,226,968 |
Key Lease Metrics | 1 | 2 | 3 | 4 | 5 | |
Period Ending | Average | 05/2014 | 05/2015 | 05/2016 | 05/2017 | 05/2018 |
Months in Period | 12 | 12 | 12 | 12 | 12 | |
Base Rent per RSF | 2.63 | 1.99 | 2.70 | 2.76 | 2.81 | 2.87 |
Expenses per RSF | 1.73 | 1.63 | 1.68 | 1.73 | 1.78 | 1.83 |
Total Cost per RSF | 4.36 | 3.623.62 | 4.384.38 | 4.494.49 | 4.594.59 | 4.704.70 |
Average Monthly Cost | 45,307 | 37,622 37,622 | 45,572 45,572 | 46,658 46,658 | 47,771 47,771 | 48,911 48,911 |
Per Annum Total | 543,681 | 451,464 451,464 | 546,861 546,861 | 559,894 559,894 | 573,250 573,250 | 586,937 586,937 |
Cumulative Total | 451,464 451,464 | 998,325 998,325 | 1,558,219 1,558,219 | 2,131,468 2,131,468 | 2,718,406 2,718,406 |
Annual Financial Detail | 1 | 2 | 3 | 4 | 5 | |
Period Ending | Average | 05/2014 | 05/2015 | 05/2016 | 05/2017 | 05/2018 |
Base Rent | 344,216 | 330,720330,720 | 337,334337,334 | 344,081344,081 | 350,963350,963 | 357,982357,982 |
Rent Abatement | (16,536) | (82,680)(82,680) | ||||
Total Rent | 327,680 | 248,040248,040 | 337,334337,334 | 344,081344,081 | 350,963350,963 | 357,982357,982 |
Expenses | ||||||
Property Taxes | 139,142 | 131,040131,040 | 134,971134,971 | 139,020139,020 | 143,191143,191 | 147,487147,487 |
CAM & Mgmt Fee | 76,859 | 72,38472,384 | 74,55674,556 | 76,79276,792 | 79,09679,096 | 81,46981,469 |
Total Expenses | 216,001 | 203,424203,424 | 209,527209,527 | 215,813215,813 | 222,287222,287 | 228,956228,956 |