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LeaseMatrix Example

LeaseMatrix Example

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Published by Coy Davidson

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Published by: Coy Davidson on Jul 28, 2012
Copyright:Attribution Non-commercial

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07/28/2012

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Deal: LeaseMatrix Headquarters
Seattle City Center
5th & Columbia
705 Union Station
Columbia Center
Street Address
1420 Fifth Avenue 811 5th Avenue 705 5th Ave S 701 Fifth Avenue
City, State Zip
Seattle, WA 98101 Seattle, WA 98104 Seattle, WA 98104 Seattle, WA 98104
Property Level Report
View report View report View report View report
Building Class
Class A Class AA Class A Class A
Security Deposit
$100,000 $100,000 - $50,000
Parking Ratio
2 per 1,000 4 per 1,000 5 per 1,000 4 per 1,000
TI Allowance
$50.00 per RSF $50.00 per RSF $100.00 per RSF $50.00 per RSF
Lease Term
96 months 61 months 84 months 84 months
Commencement Date
06/13/2013 05/15/2013 04/29/2013 03/19/2013
Rentable Area
105,000 SF 100,000 SF 100,000 SF 100,000 SF
Useable Area
87,000 SF 87,500 SF 95,000 SF 85,000 SF
Loss Factor
17.14% 12.50% 5.00% 15.00%
Add On Factor
1.21 1.14 1.05 1.18
Cumulative Base Rent
20,173,125 11,014,355 15,000,000 15,100,000
Cumulative Occupancy Cost
27,505,402 12,982,626 15,662,462 21,059,519
Avg. Monthly Base Rent
210,137 180,563 178,571 179,762
Avg. Monthly Occupancy Cost
286,515 212,830 186,458 250,709
Avg. Annual Base Rent
2,521,641 2,166,758 2,142,857 2,157,143
Avg. Annual Occupancy Cost
3,438,175 2,553,959 2,237,495 3,008,503
NPV of Base Rent @ 8.0%
14,721,635 8,682,282 11,184,278 11,244,047
NPV of Total Cost @ 8.0%
20,474,953 10,536,477 11,788,528 16,113,114
Avg. Base Rent / rsf
24.02 21.67 21.43 21.57
Avg. Base Rent / usf
29.87 30.38 24.06 27.06
Avg. Total Cost / rsf
32.74 25.54 22.37 30.09
Avg. Total Cost / usf
39.52 29.19 23.55 35.39
NPV of Base Rent / rsf / year
17.53 17.08 15.98 16.06
NPV of Base Rent / usf / year
21.15 19.52 16.82 18.90
NPV of Total Cost / rsf / year
24.37 20.73 16.84 23.02
NPV of Total Cost / usf / year
29.42 23.69 17.73 27.08
Base Rent Schedule
 
Year 1
21.08 - 10.00 10.00
Year 2
21.54 25.75 21.00 21.00
Year 3
22.00 26.52 22.00 22.00
Year 4
24.50 27.32 23.00 23.00
Year 5
25.00 28.14 24.00 24.00
Year 6
25.50 2.42 25.00 25.00
Year 7
26.00 - 25.00 26.00

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