Amazon Teterboro OM

31

GENERAL ASSUMPTIONS

MARKET LEASING ASSUMPTIONS

$10.75 PSF

Net Rentable Area:

616,992

Renewal Probability:

85%

Analysis Start Date:

March 1, 2018

Months Vacant:

7

Analysis Hold:

10 Years

Market Rent ($/sf): Tenant Improvements: New: Renew: Leasing Commissions*: Rent Abatements (mos.): New: Renew:

$10.75

General Inflation:

2.0%

$0.75 PSF $0.25 PSF

Market Rent Inflation:

5%, 5%, 4%, 2%+

6.25%

General Vacancy(1):

3.0%

Capital Reserve (PSF):

$0.10

2 None

(1) Excluding Amazon and its renewal

Rent Changes: Reimbursements:

3% increase annually

Net

Lease Term:

10 years

*Assumes a 5.0% agency commission with a 50% override for leases procured by an outside broker (2.5%) which is projected to occur 50% of the time

AMAZON TETERBORO | NEW JERSEY