MovementMortgage_OM_Sept 5

NOTES TO CASH FLOW

GLOBAL ASSUMPTIONS

MARKET LEASE ASSUMPTIONS OFFICE

ANALYSIS PERIOD Commencement Date

Jan 1, 2020 Dec 31, 2030

RENEWAL PROBABILITY

90%

End Date

Analysis Length

11 years

FINANCIAL TERMS 2019 Market Rent

AREA MEASURE Building Square Feet

$16.00 PSF

205,430 SF

Annual Rent Escalations

2.00% 5 years

Occupancy (as of 1/2020)

100%

Lease Term

GROWTH RATES General Inflation Operating Expenses Real Estate Taxes

Expense Reimbursement

NNN

2.50% 2.50% 2.50%

LEASING COSTS TENANT IMPROVEMENTS

PSF

2021 2022 2023 2024

3.00% 3.00% 3.00% 3.00% 3.00%

New

$35.00 $10.00 $16.25

Renewal Weighted

Market Rent Growth

2025+

LEASING COMMISSIONS New

GENERAL VACANCY

N/A

6.00% 4.00% 4.50%

Renewal Weighted

DOWNTIME New

OPERATING EXPENSES

6 months 2 months

OPERATING EXPENSE SOURCE

Estimates

Weighted

CUSHMAN & WAKEFIELD

52

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