Provation

RENEWAL STRATEGY RELEASE VS. RENEW SAMPLE

25,000 SF (BASED ON A 10 YEAR TERM)

DETAILS

RELEASE RENEW

COST

• • • • •

Release Space—12 months at $36.00

$900,000

Downtime

Renew Space—0 months

$0.00

Release Space—10 months

$750,000

Concessions

Renew Space—5 months

$375,000

Release Space—$60.00/RSF Renew Space—$30.00/RSF Release Space—4 months Renew Space—0 months Release Space—$15.50/RSF Renew Space—$10.30/RSF

$1,500,000

Tenant Improvements

$750,000

$300,000

Construction Time

$0.00

$387,500

Transaction Costs

$257,500

Total Cost to Landlord

$3,837,500 $1,382,500

$375,000

$1,125,000

$1,382,500

RENEW

$900,000

$1,650,000

$3,150,000

$3,450,000

$3,837,500

RELEASE

$300,000

$600,000

$900,000

$1,200,000

$1,500,000

$1,800,000

$2,100,000

$ 2,400,000 $2,700,000

$3,000,000

$3,300,000 $3,600,000