700 Technology Park, Billerica

As sump t i ons

GENERALASSUMPTIONS

MARKET LEASINGASSUMPTIONS

MARKET RENT ($/SF/YR)

ANALYSIS PERIOD

$16.75

The Analysis Start Date is 7/1/2019. A ten (10) year holding period is assumed.

INFLATION RATE

The global inflation rate is assumed to be 3%. The rate is applied to Market Leasing Assumptions and Operating Expenses.

RENT INCREASES (ANNUAL)

$0.50

REIMBURSEMENTS

Base Year Stop

OPERATING EXPENSES

Operating Expenses are based on 2019 projected expenses.

EXPENSES REIMBURSEMENTS

Reimbursements are assumed to be Base Year Stop for Office.

ABATEMENT (MONTHS)

5 Months

GENERAL VACANCY

A General Vacancy of 5.0% is applied to potential gross revenue.

TERM LENGTHS (YEARS)

5 Years / 5 Months

DOWNTIME BETWEEN LEASES (MONTHS TO ABSORB)

9 Months

CAPITAL RESERVE

A Capital Reserve of $0.15/SF is applied.

TENANT IMPROVEMENTS - $/SF (NEW / RENEWAL)

$20 / $10

BUILDING INFORMATION

BUILDING AREA (SF)

44,226 SF

LEASING COMMISSIONS - $/SF/YR (NEW / RENEWAL)

$1.00 / $1.00

BUILDING TYPE

Office

OCCUPIED AREA (SF)

44,226 SF

PROBABILITY OF RENEWAL

75%

OCCUPANCY %

100.0%

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700 Technology Park Drive | billerica, ma