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 $12,375,583 |
NPV of Total Cost @ 8.0% $10,249,268 |
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 | 24.35 | 18.8218.82 | 24.6624.66 | 25.5325.53 | 26.4226.42 | 26.3326.33 |
Average Monthly Cost | 202,926 | 156,833 156,833 | 205,500 205,500 | 212,710 212,710 | 220,136 220,136 | 219,452 219,452 |
Per Annum Total | 2,435,117 | 1,882,000 1,882,000 | 2,466,000 2,466,000 | 2,552,520 2,552,520 | 2,641,636 2,641,636 | 2,633,426 2,633,426 |
Cumulative Total | 1,882,000 1,882,000 | 4,348,000 4,348,000 | 6,900,521 6,900,521 | 9,542,157 9,542,157 | 12,175,583 12,175,583 |
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 |