1400 18th Ave
Assumptions
Property Assumptions
Market Leasing Assumptions
Analysis Start
August 1, 2013
Rentable Building Area
SF
%
Initial Lease-Up Period
12 months
Occupied
76,390
94.26% 5.74% 100.00%
Vacant
Office Renewal
4,651
Total
2013 Market Rental Rates
81,041
$23.00
Growth Rates
Rent Structure
Full Service
General Growth Rate Operating Expenses Real Estate Taxes
3.00% 3.00% 3.00%
Rent Adjustment
2.50% annually
Annual Market Rent Growth Rate
Lease Terms
36 months
Yr 1 Yr 2 Yr 3
3.00% 3.00%
2013 Tenant Improvements
3.00% New 3.00% Renewal
$15.00
Yr 4+
$5.00 $7.50
Weighted
Miscellaneous Revenue
Future Leasing Commissions New
6.00% 3.00% 3.75%
2013 Miscellaneous Revenues
Renewal Weighted
Parking
$100,000 $100,000
Total 2013 Misc. Revenues
Free Rent (Outside)
0 Month(s) Free
Operating & Capital Expense Assumptions
Renewal Probability
75%
Management Fee (% of EGR)
Downtime Period New
3.00%
6 Month(s) 2 months
Weighted
Capital Reserves
$0.35 psf
FOOTNOTES: Actual total square footage for the three buildings is 81,041. The square footage referenced in the leases for Building C results in a discrepancy of 1,479 RSF. It is assumed this RSF is corrected after the first year of tenancy for the tenants in Building C.
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