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CONSULTATION (continued)
<br />~ T~CFINIQUE TWO -LEASE VS. CONTRACT RENT/OWN~RSI~ ANALYSIS
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<br />Income Stream (Ixase Scenario)- '
<br />Office Lease Income: 114,557 SF x 1.47/SF = $168,399
<br />Parking LeaseIncome: 277 Spaces z 47.22lSpace = 13.080
<br />Total Monthly Income $181,479
<br />Present Value Malysis--
<br />Montlily Income Stream: x Preseut Value of One per Period* = Presen[ Value
<br />$181,479 z 137.9544 (7.5%) _ $25,035,827
<br />Cost per Square Foot $218.54/SF
<br />$181,479 x 153.5146 (6.34%) _ $27,859,676
<br />Cost per Squere Foot
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<br />Income Stream (Contract Scenario)-
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<br />Office Contract Income: 114,557 SF z$1.30/SF = $148,924
<br />Parking Contract Income: 277 Spaces x$40/Space = ' $11.080
<br />Total Montlily Income $160,004
<br />Present Value Analysis-
<br />Monthly Income Stream: z Present Value oF One per Period* = Present Value
<br />~160,004 x 137.9544 (7.S~O) _ $22,073,256
<br />I.ess Reversion: $20,826,149 x .152539 = ($3.176.800a
<br />Total $18,896,456
<br />Cost per Square Foot $164.95/SF
<br />$160,004 z 153.5146 (6.34%) _ $24,562,950
<br />Less Reversion: $20,826,149 x .202249 = ($4.212.068
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