Page 2 - Thomas Title - Market Overview - June 2020

PROPOSAL SUMMARY

Landlord First Round Proposal - 5.28.2020 Landlord Second Round Proposal - 6.3.2020 Landlord Third Round Proposal - 6.8.2020
Citymark on the Katy Trail Citymark on the Katy Trail Citymark on the Katy Trail
3100 McKinnon St 3100 McKinnon St 3100 McKinnon St
Dallas, TX 75201 Dallas, TX 75201 Dallas, TX 75201

PROPOSED SPACE: Suite 170: 5,333 RSF* Suite 170: 5,333 RSF* Suite 170: 5,333 RSF*

TOTAL BUILDING SIZE: 226,344 RSF 226,344 RSF 226,344 RSF

TARGET POSSESSION DATE: March 1, 2020 March 1, 2021 March 1, 2021

TARGET COMMENCEMENT March 1, 2020 March 1, 2021 March 1, 2021
DATE:

TERM: 76 Months 77 Months 77 Months

Months 1 - 4: $0.00 + E Months 1 - 4: $0.00 + E Months 1 - 4: $0.00 + E
Months 5 - 16: $31.00 + NNN Months 5 - 16: $29.50 + NNN Months 5 - 16: $29.50 + NNN
Months 17 - 28: $31.78 + NNN Months 17 - 28: $30.00 + NNN Months 17 - 28: $30.00 + NNN
Months 29 - 40: $32.57 + NNN Months 29 - 40: $30.50 + NNN Months 29 - 40: $30.50 + NNN
QUOTED RENTAL RATE:
Months 41 - 52: $33.38 + NNN Months 41 - 52: $31.00 + NNN Months 41 - 52: $31.00 + NNN
Months 53 - 64: $34.22 + NNN Months 53 - 64: $31.50 + NNN Months 53 - 64: $31.50 + NNN
Months 65 - 76: $35.07 + NNN Months 65 - 76: $32.00 + NNN Months 65 - 76: $32.00 + NNN
Net Effective Rate: $31.27 + NNN Net Effective Rate: $28.75 + NNN Net Effective Rate: $28.75 + NNN

2020 NNN ESTIMATE: $11.68/RSF $11.68/RSF $11.68/RSF

GROSS EFFECTIVE RENT: $42.95/RSF + E $40.43/RSF + E $40.43/RSF + E
(NET OF ELECTRIC)

2020 ELECTRIC ESTIMATE: $1.70/RSF $1.70/RSF $1.70/RSF

Per the Existing Lease: 7.5% annual cap on Controllable Per the Existing Lease: 7.0% annual cap on Controllable Per the Existing Lease: 7.0% annual cap on Controllable
OPERATING EXPENSES: Operating Expenses on a cumulative, compounding Operating Expenses on a cumulative, compounding Operating Expenses on a cumulative, compounding
basis. basis. basis.
$20.00/RSF ($106,660.00) $23.00/RSF ($122,659.00)
$17.50/RSF ($93,327.50)
If Landlord manages construction: Landlord shall charge If Landlord manages construction: Landlord shall charge
If Landlord manages construction: Landlord shall charge
TENANT IMPROVEMENT a construction management fee equal to 5% of total a construction management fee equal to 3% of the a construction management fee equal to 3% of the
managed hard costs only.
managed hard costs only.
ALLOWANCE: project costs.
If Tenant manages construction: Landlord shall charge a If Tenant manages construction: Landlord shall charge a
If Tenant manages construction: Landlord shall charge a
supervisory fee equal to 2% of total project costs. supervisory fee equal to 1.5% of the managed hard costs supervisory fee equal to 1.5% of the managed hard costs
only. only.