LeaseMatrix Headquarters

Wells Fargo Center
LANDLORD PROPOSAL
999 3rd Avenue
Seattle, Washington 98104
US
Rentable Area
100,000 SF
Useable Area
87,720 SF
Load Factor
14%
Lease Term
60 months
Commencement Date
05/15/2013
Expiration Date
05/14/2018
TI Allowance
$50.00 per RSF
Landlord
The CAC Group
Building Class
Class AA
Floor / Suite
Full floors 14,15, 17, 22
Parking ratio
1 per 1,000
Security Deposit
$100,000
Lease Structure
Modified Net
Renewal options
Three (3) Five (5) Year Options
Total Deal Cost
$12,475,583
NPV of Total Cost @ 8.0%
$10,249,268
Notes
Tenant pays janitorial and electric
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 20.24 15.00 20.60 21.22 21.85 22.51
Expenses per RSF 4.31 3.82 4.06 4.31 4.56 4.82
Total Cost per RSF 24.55 18.8218.82 24.6624.66 25.5325.53 26.4226.42 27.3327.33
Average Monthly Cost 204,593 156,833156,833 205,500205,500 212,710212,710 220,136220,136 227,785227,785
Per Annum Total 2,455,117 1,882,0001,882,000 2,466,0002,466,000 2,552,5202,552,520 2,641,6362,641,636 2,733,4262,733,426
Cumulative Total   1,882,0001,882,000 4,348,0004,348,000 6,900,5216,900,521 9,542,1579,542,157 12,275,58312,275,583
Annual Financial Detail 1 2 3 4 5
Period Ending Average 05/2014 05/2015 05/2016 05/2017 05/2018
Base Rent 2,123,654 2,000,0002,000,000 2,060,0002,060,000 2,121,8002,121,800 2,185,4542,185,454 2,251,0182,251,018
Rent Abatement (100,000) (500,000)(500,000)
Total Rent 2,023,654 1,500,0001,500,000 2,060,0002,060,000 2,121,8002,121,800 2,185,4542,185,454 2,251,0182,251,018
             
Expenses            
Over Base Year Stop 49,462 24,00024,000 48,72048,720 74,18274,182 100,407100,407
Janitorial 82,000 82,00082,000 82,00082,000 82,00082,000 82,00082,000 82,00082,000
Utilities 300,000 300,000300,000 300,000300,000 300,000300,000 300,000300,000 300,000300,000
Total Expenses 431,462 382,000382,000 406,000406,000 430,720430,720 456,182456,182 482,408482,408
Expenses and Credits 0 1 2 3 4 5
Landlord Credits            
TI Allowance (5,000,000)          
Tenant Cash Outlay            
Security Deposit 100,000         (100,000)
Moving Expenses 200,000
Total Buildout Cost 5,000,000
Total Expenses & Credits 300,000300,000 (100,000)(100,000)