Page 4 - Thomas Title - Market Overview April 2020
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LEASE ABSTRACT
Premises
Suite 170: 5,011 RSF
Commencement Date
November 1, 2015
Expiration Date
February 28, 2021
Lease Term
64 months
Base Rental Rate
*does not include NNN’s or electricity
Months Rental Rate Monthly Rent Total Rent
11/1/2015 - 2/29/2016 $0.00 $0.00 $0.00
3/1/2016 - 2/28/2017 $24.50 $10,230.79 $122,769.50
3/1/2017 - 2/29/2018 $25.00 $10,439.58 $125,275.00
3/1/2018 - 2/28/2019 $25.50 $10,648.38 $127,780.50
3/1/2019 - 2/29/2020 $26.00 $10,857.17 $130,286.00
3/1/2020 - 2/28/2021 $26.50 $11,065.96 $132,791.50
Occupancy Cost Analysis
Thomas Title Current Occupancy Cost Current Quoted Rate
Current Weighted Rent: $26.50/RSF + E Current Weighted Rent: $30.00/RSF NNN
2020 Est. OPEX Pass Throughs: $4.86/RSF NNN: $11.64/RSF
2020 Est. Electric: $1.70/RSF Electric: $1.70/RSF
Total Occupancy Cost: $33.06/RSF Total Cost: $43.34/RSF
Operating Expenses
2016 Base Year: $6.78
7.5% annual cap on Controllable Operating Expenses on a cumulative, compounding basis.
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