FAR_Contractor_Tools_v6.73.xlsx
XLSX spreadsheet 283 KB Posted
- Attached to
- RFQ- Appraisal Lease
- Solicitation number
- DOL-SFO-16-Q-00003
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Contractor Tools
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Other files
| File | Type | Posted |
|---|---|---|
| FY2018_FAR_CONTRACTOR_INSTRUCTIONS_-_Final.pdf | ||
| DOL-SFO-16-Q-00003.pdf | ||
| CA0305_Space_Classification_Report.xlsx | XLSX spreadsheet | |
| FY2018_FAR_SCOPE_OF_WORK.docx | DOCX document | |
| FY2018_FAR_Appraisal_Template_Final_-_Compressed.dotx | DOTX file |
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Text version
Recent Changes
RECENT & PROPOSED CHANGES
| RECENT CHANGES | |
| Contractors Summary 10YR | |
| Hidden starting for FY18 | |
| Office Rent 10YR | |
| Hidden starting for FY18 | |
| Warehouse Rent 10YR | |
| Hidden starting for FY18 | |
| Contractors Summary 5YR | |
| This is now the only Contractors Summary tab, most of the data entry took place here and it was easier to modify this tab versus having to update all the data links throughout the workbook. | |
| Removed 5YR from sheet name and workbook header | |
| Section 4 header changed from "Rental Rate Conclusions (5 year level term)" to "Levelized Rate Conclusions" | |
| Calculations for Fully Serviced Rent & Unserviced Rent were shuffled. Previous versions pulled the Full Serviced Rent and Total Services from the adjustment grid, then calculated Unserviced rent as the difference between the two. NOW the workbook pulls Unserviced Rent from the Levelization workbook, Total Services from the Adjustment Grid and then sums them for the Full Serviced Rent. This was carried out through the conversion to Billing R/U and the application of trending. | |
| Office Rent 5YR | |
| Renamed tab Office Rent | |
| Removed "5 Year Term" from worksheet header | |
| Lease Term changed from 5-Year term to 10-Year term | |
| Lease Term comment changed to reflect 10 years | |
| Rent Levelization (Row 48) Hidden | |
| Removed VBA Macro that was causing issues in Office 2010 | |
| Warehouse Rent 5YR | |
| Renamed tab Warehouse Rent | |
| Removed "5 Year Term" from worksheet header | |
| Lease Term changed from 5-Year term to 10-Year Term | |
| Lease Term comment changed to reflect 10 years | |
| Rent Levelization (Row 54) Hidden | |
| Removed VBA Macro that was causing issues in Office 2010 | |
| Rent Levelization | |
| New worksheet that automatically levels rent for Office & Warehouse space. | |
| Section 1 - User selects "trend type" from drop down menu for Office and/or Warehouse. Four options are available; Constant $ per RSF, Variable $ per RSF, Constant % per Year, Variable % per Year | |
| The sheet highlights (yellow) where the user can enter the required numbers. This allows them to either have one constant number applied to each year or they can customize it and enter a different number per year. | |
| Section 2 - Automatically pulls the unserviced rent from the adjustment grid and calculates the trending based on the selection in Section 1. | |
| Section 3 - Calculates the average rate over the 10 year period. This number is then sent to the Contractors Summary tab. | |
| PROPOSED CHANGES | |
| Warehouse Rent | |
| Include comments for Market Conditions, Lease Concessions, Fixed Expenses from Office rent tab | |
| Remove lease conditions adjustment | |
| Unserviced Rate comment doesn't match Office Rent |
Proposed Changes
| REQUESTED FIXS | ||
| Office Rent Tab | ||
| Section 3 | ||
| Implemented 6.45 | Appalucio | Lease Concessions Comment: "For NNN Leases". Rent concessions are for all leases and not just NNN leases. I think this was meant to be part of the comment for Fixed Expenses below. However, that comment would not be entirely correct for Fixed Expenses either because the lease could something other than NNN and still require either a real estate tax and/or insurance adjustment. |
| Contractors Summary Tab | ||
| Section 3 | ||
| Implemented 6.56 | Wochna | 'Since we are requiring that the appraiser provide a rate per RSF, we need to break the link between the Market method of measurement cell and the labeling on rate conclusions statement. |
| Reed | Provide ability to utilize various trend factors for years. Option to use X for all 3 or use X,Y,Z for each | |
| Section 4 | ||
| Flores | New calculation for trending calculating change/day X days between dates - coupdays, coupdaysbs | |
| New Tab | ||
| Reed | create new tab with explanations on formulas and functionality of sheet | |
| Warehouse Rent Tab | ||
| Section 3 | ||
| Reed | include comments for Market Conditions, Lease Concessions, Fixed Expenses from Office rent tab | |
| Reed | remove lease conditions adjustment | |
| Reed | Unserviced Rate comment doesn't match Office Rent | |
| Workbook | ||
| Implemented 6.69 | Reed | Font - Times New Roman or Arial |
Contractors Summary
| CONTRACTOR'S DATA SUMMARY AND CONCLUSIONS | |
| Enter data in the shaded cells |
Nicholas S Hufford: Data from this sheet fills cells in the RENT grid sheets. The appraiser should provide the information on this sheet before moving to the RENT grids. (Trend factors are not required for the other sheets.)
| Section 1 | FOR FISCAL YEAR | 2018 | ||||
| Nicholas S Hufford: Enter the fiscal year (FY) for which this rent analysis is intended. Data in this cell populates related Fiscal Year fields. | 10/1/17 | |||||
| Building Number | TS12345ZZ | |||||
| Name of Building | Federal Bldg | Building Areas | ||||
| Address | 123 Main St. | General Use/Office Space | Warehouse Space | |||
| City | Oldtowne | GSA Usable SF | 0.00 | |||
| Nicholas S Hufford: As provided by GSA | GSA Usable SF | 0.00 |
Nicholas S Hufford: As provided by GSA
| State and Zip | TS | 01234 | GSA Rentable SF | 0.00 | ||
| Nicholas S Hufford: As provided by GSA | GSA Rentable SF | 0.00 |
Nicholas S Hufford: As provided by GSA
| Effective Dates of the Appraisal | |||||||
| Date of Inspection | |||||||
| Nicholas S Hufford: Enter the date of the appraisal, typically the date of the actual building inspection. | 10/01/2014 | (Appraisal date) | Parking Spaces | ||||
| Projected FY | 10/1/17 | (Prospective date) | Inside (Structured) | Outside (Surface) | |||
| Other | |||||||
| ChristopherHReed: Please Describe | 0 | 0.0 |
| Section 2 | APPRAISER AND REPORT DATA | |||
| Appraiser | Bob Best | Appraiser | James Better | |
| State Certification # | ABC 98765 | State Certification # | DEF 43210 | |
| Expiration Date | 7/17/14 | Expiration Date | 7/10/14 |
| Section 3 | ANALYSIS PARAMETERS AND TREND CONCLUSIONS | ||||||
| "As Is" Office Rate is fully serviced rental rate for space let with existing buildout or tenant improvements (TI). | This analysis is: | ||||||
| "Shell" rate is the GSA defined shell, with no services or TI included. | AS-IS | ||||||
| Nicholas S Hufford: Select from drop-down list | AS-IS | Fully Serviced Rent | |||||
| "As Renovated" Office Rate is fully serviced rental rate for renovated space, based on completion of project. (Describe renovated TI in report). | SHELL | Unserviced Rent | |||||
| Trend Factors, Annual Percentage* | Common Area Considerations (R/U or Load Factors) | AS RENOVATED | |||||
| *Annual projected change in Rent from "Inspection Date" to "Effective Date". |
| Trending Method: Choose between Fully Serviced Rent or Unserviced Rent. Total Services are always trended by the provided factor. Selection determines which rate is trended by the provided factor. The untrended rate is calculated based on your selection and Total Services. | *GSA Billing R/U Ratio: Recognizes rentable and usable space throughout the entire building and an allocation of any facility common area. This ratio is used to convert the concluded rates in the report to accommodate GSA's billing systems. | ||||||
| ** Tenanted Floor R/U Ratio: Recognizes rentable and usable space throughout the tenanted floors. It typically excludes basement, mechanical and penthouse floors from impacting the R/U ratio. This is the ratio used when adjusting the comparables to the subject. | AS COMPLETED | ||||||
| General Use/Office | Fully Serviced Rent | ||||||
| ChristopherHReed: Select from drop-down list | 0.00% | ||||||
| General Use/Office Services | 0.00% | General Use/Office | Warehouse | ||||
| Warehouse | Fully Serviced Rent | ||||||
| ChristopherHReed: Select from drop-down list | 0.00% | Largest Tenant Lease Size: |
Nicholas S Hufford: Enter the lease size for the predominant tenant in the subject.
| Nicholas S Hufford: Enter the fiscal year (FY) for which this rent analysis is intended. Data in this cell populates related Fiscal Year fields. | 0 SF | 0 SF | ||||
| Warehouse Services | 0.00% | Market Tenant Improvements per SF: | $0.00 | $0.00 | ||
| Parking (Inside) | 0.00% | *GSA Billing R/U Ratio: | 0.000000000 | |||
| Parking (Outside) | 0.00% | **Tenanted Floor R/U Ratio: | 0.000 |
| Section 4 | RENTAL RATE CONCLUSIONS | ||
| Appraised Annual Rate | Appraised Annual Rate Converted to GSA Billing R/U Basis | ||
| As of Current Date |
Nicholas S Hufford: This section fills with data from rent and levelization tabs Nicholas S Hufford: Data from this sheet fills cells in the RENT grid sheets. The appraiser should provide the information on this sheet before moving to the RENT grids. (Trend factors are not required for the other sheets.)
Nicholas S Hufford: Enter the date of the appraisal, typically the date of the actual building inspection.
Nicholas S Hufford: As provided by GSA ChristopherHReed: Please Describe Nicholas S Hufford: As provided by GSA Nicholas S Hufford: As provided by GSA Nicholas S Hufford: As provided by GSA ChristopherHReed: Select from drop-down list Nicholas S Hufford: Select from drop-down list
| ChristopherHReed: Select from drop-down list | As of Current Date | Fiscal Year 2016 | Fiscal Year 2017 | Fiscal Year 2018 | ||||||
| 10/1/14 | 10/1/14 | 10/1/15 | 10/1/16 | 10/1/17 | 1.000000000000 | yearfrac | ||||
| (Date of Inspection) | (Date of Inspection) | (Prospective date) | (Prospective date) | (Prospective date) | ||||||
| General Use/Office per Rentable SF | ||||||||||
| Fully Serviced Rent | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||
| Total Services | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||
| Levelized Unserviced Rent | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||
| Warehouse per Rentable SF | ||||||||||
| Fully Serviced Rent | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||
| Total Services | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||
| Levelized Unserviced Rent | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||
| Annual Parking (Inside, per Space) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||
| Annual Parking (Outside, per Space) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||
| 2018 V6.73 |
&"Times New Roman,Bold Italic"GSA Fair Annual Rent Appraisal
&"Times New Roman,Bold Italic"GSA Fair Annual Rent Appraisal
Contractors Summary 10yr
| CONTRACTOR'S DATA SUMMARY AND CONCLUSIONS (10 Year Term) | |
| Enter data in the shaded cells |
Nicholas S Hufford: Data from this sheet fills cells in the RENT grid sheets. The appraiser should provide the information on this sheet before moving to the RENT grids. (Trend factors are not required for the other sheets.)
| Section 1 | FOR FISCAL YEAR | 2018 | ||||
| Nicholas S Hufford: Enter the fiscal year (FY) for which this rent analysis is intended. Data in this cell populates related Fiscal Year fields. | 10/1/17 | |||||
| Building Number | TS12345ZZ | |||||
| Name of Building | Federal Bldg | Building Areas | ||||
| Address | 123 Main St. | General Use/Office Space | Warehouse Space | |||
| City | Oldtowne | GSA Usable SF | 0.00 | |||
| Nicholas S Hufford: As provided by GSA | GSA Usable SF | 0.00 |
Nicholas S Hufford: As provided by GSA
| State and Zip | TS | 1234 | GSA Rentable SF | 0.00 | ||
| Nicholas S Hufford: As provided by GSA | GSA Rentable SF | 0.00 |
Nicholas S Hufford: As provided by GSA
| Effective Dates of the Appraisal | |||||||
| Date of Inspection | |||||||
| Nicholas S Hufford: Enter the date of the appraisal, typically the date of the actual building inspection. | 10/01/2014 | (Appraisal date) | Parking Spaces | ||||
| Projected FY | 10/1/17 | (Prospective date) | Inside (Structured) | Outside (Surface) | |||
| Other | |||||||
| ChristopherHReed: Please Describe | 0 | 0.0 |
| Section 2 | APPRAISER AND REPORT DATA | |||
| Appraiser | Bob Best | Appraiser | James Better | |
| State Certification # | ABC 98765 | State Certification # | DEF 43210 | |
| Expiration Date | 7/17/14 | Expiration Date | 7/10/14 |
| Section 3 | ANALYSIS PARAMETERS AND TREND CONCLUSIONS | ||||||
| "As Is" Office Rate is fully serviced rental rate for space let with existing buildout or tenant improvements (TI). | This analysis is: | ||||||
| "Shell" rate is the GSA defined shell, with no services or TI included. | AS-IS | ||||||
| Nicholas S Hufford: Select from drop-down list | AS-IS | Fully Serviced Rent | |||||
| "As Renovated" Office Rate is fully serviced rental rate for renovated space, based on completion of project. (Describe renovated TI in report). | SHELL | Unserviced Rent | |||||
| Trend Factors, Annual Percentage* | Common Area Considerations (R/U or Load Factors) | AS RENOVATED | |||||
| *Annual projected change in Rent from "Inspection Date" to "Effective Date". |
| Trending Method: Choose between Fully Serviced Rent or Unserviced Rent. Total Services are always trended by the provided factor. Selection determines which rate is trended by the provided factor. The untrended rate is calculated based on your selection and Total Services. | *GSA Billing R/U Ratio: Recognizes rentable and usable space throughout the entire building and an allocation of any facility common area. This ratio is used to convert the concluded rates in the report to accommodate GSA's billing systems. | ||||||
| ** Tenanted Floor R/U Ratio: Recognizes rentable and usable space throughout the tenanted floors. It typically excludes basement, mechanical and penthouse floors from impacting the R/U ratio. This is the ratio used when adjusting the comparables to the subject. | AS COMPLETED | ||||||
| General Use/Office | Fully Serviced Rent | ||||||
| ChristopherHReed: Select from drop-down list | 0.00% | ||||||
| General Use/Office Services | 0.00% | General Use/Office | Warehouse | ||||
| Warehouse | Fully Serviced Rent | ||||||
| ChristopherHReed: Select from drop-down list | 0.00% | Typical lease size: |
Nicholas S Hufford: Enter the typical lease size for buildings with similar floor plates & partial floor tenants. (unless single tenant or special purpose building) Fills to RENT grids.
| Nicholas S Hufford: Enter the fiscal year (FY) for which this rent analysis is intended. Data in this cell populates related Fiscal Year fields. | 0 SF | 0 SF | ||||
| Warehouse Services | 0.00% | Market Tenant Improvements per SF: | $0.00 | $0.00 | ||
| Parking (Inside) | 0.00% | *GSA Billing R/U Ratio: | 0.000000000 | |||
| Parking (Outside) | 0.00% | *Tenanted Floor R/U Ratio: | 0.000 |
| Section 4 | STARTING RATE CONCLUSIONS (10-year term) | ||
| Appraised Annual Rate | Appraised Annual Rate Converted to GSA Billing R/U Basis | ||
| As of Current Date |
Nicholas S Hufford: This section fills with data from RENT grids.
Nicholas S Hufford: Data from this sheet fills cells in the RENT grid sheets. The appraiser should provide the information on this sheet before moving to the RENT grids. (Trend factors are not required for the other sheets.)
Nicholas S Hufford: Enter the date of the appraisal, typically the date of the actual building inspection.
Nicholas S Hufford: As provided by GSA ChristopherHReed: Please Describe Nicholas S Hufford: As provided by GSA Nicholas S Hufford: As provided by GSA
| Nicholas S Hufford: As provided by GSA | As of Current Date | Fiscal Year 2016 | Fiscal Year 2017 | Fiscal Year 2018 | |||||||
| 10/1/14 | 10/1/14 | 10/1/15 | 10/1/16 | 10/1/17 | 1.000000000000 | yearfrac | |||||
| (Date of Inspection) | (Date of Inspection) | (Prospective date) | (Prospective date) | (Prospective date) | |||||||
| General Use/Office per Rentable SF | |||||||||||
| Fully Serviced Rent | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||
| Total Services | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||
| Unserviced Rent | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||
| Warehouse per Rentable SF | |||||||||||
| Fully Serviced Rent | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||
| Total Services | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||
| Unserviced Rent | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||
| Annual Parking (Inside, per Space) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||
| Annual Parking (Outside, per Space) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 |
| Section 5 | LEVELIZED RATE CONCLUSIONS (10-year term) | ||
| Appraised Annual Rate | Appraised Annual Rate Converted to GSA Billing R/U Basis | ||
| As of Current Date |
Nicholas S Hufford: This section fills with data from RENT grids.
ChristopherHReed: Select from drop-down list Nicholas S Hufford: Select from drop-down list
| ChristopherHReed: Select from drop-down list | As of Current Date | Fiscal Year 2016 | Fiscal Year 2017 | Fiscal Year 2018 | ||||
| 10/1/14 | 10/1/14 | 10/1/15 | 10/1/16 | 10/1/17 | ||||
| (Date of Inspection) | (Date of Inspection) | (Prospective date) | (Prospective date) | (Prospective date) | ||||
| General Use/Office per Rentable SF | ||||||||
| Fully Serviced Rent | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||
| Total Services | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||
| Unserviced Rent | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||
| Warehouse per Rentable SF | ||||||||
| Fully Serviced Rent | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||
| Total Services | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||
| Unserviced Rent | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||
| Annual Parking (Inside, per Space) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||
| Annual Parking (Outside, per Space) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||
| 2018 V6.62 |
&"Times New Roman,Bold Italic"GSA Fair Annual Rent Appraisal
Office Rent
| GENERAL USE/OFFICE SPACE RENT COMPARISON GRID (Rent Comparisons 1 - 5) | ||||
| Section 1 | Appraisal Subject | |||
| Property Location | Comparable 1 |
Tenant Name and Property Location Comparable 2 Tenant Name and Property Location Comparable 3 Tenant Name and Property Location Comparable 4 Tenant Name and Property Location Comparable 5 Tenant Name and Property Location
| GENERAL USE/OFFICE | |
| SPACE | |
| Federal Bldg | |
| RENT GRID | 123 Main St. |
| SERVICES AND | Oldtowne, TS |
| ADJUSTMENTS | |
| Building TS12345ZZ |
Section 2 INTERIOR DESCRIPTION Nicholas S Hufford: Provide general interior descriptions of the subject and the compared properties, as the basis for further quality/condition or TI adjustments.
| Ceilings |
| Walls |
| Floor Coverings |
| Light Fixtures |
| Section 3 | RENTAL RATE PER RENTABLE SF | |||||||||||||||
| Date of Lease | ||||||||||||||||
| Nicholas S Hufford: Specify lease start date for each comparable lease. | 10/1/14 | $ - 0 | ||||||||||||||
| Nicholas S Hufford: Initial lease rate | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||||||
| Market Conditions | ||||||||||||||||
| Nicholas S Hufford: Adjustments reflect changes in market conditions over time (appreciation or depreciation in market rents) from date of comparable lease to appraisal date. | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||||||||
| Lease Concessions | ||||||||||||||||
| ChristopherHReed: Examples: Free Rent, Moving Allowance, Signage, etc. | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||||||||
| Fixed Expenses | ||||||||||||||||
| Wayne Bradley: Fixed expenses such as taxes & insurance should be adjusted here. | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||||||||
| Adjusted Rental Rate | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 |
| Section 4 | SERVICES (Rates and Adjustments) | ||
| PER RENTABLE SF | By GSA | Mkt Rate |
Nicholas S Hufford: Provide market supported expense estimates for the services provided in the subject building.
By Lessor +/-ADJ Nicholas S Hufford: Services adjustments reflect the difference in expense rates for services provided in the comparable property as compared to expense rates for the subject (assumed to be at market rates).
| By Lessor | +/-ADJ | By Lessor | +/-ADJ | By Lessor | +/-ADJ | By Lessor | +/-ADJ | ||||||||||||
| Cleaning | Included | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||||||
| Repairs & Maintenance | Included | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||||||
| Utilities | Included | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||||||
| Roads/Grounds | Included | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||||||
| Administrative Expenses | |||||||||||||||||||
| Christopher Reed: Administrative expenses including building management fees. | Included | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||||||
| Security | |||||||||||||||||||
| Nicholas S Hufford: Security is managed, calculated and billed separately by the Department of Homeland Security. FAR rates do not include any expenses related specifically to Security. Downward adjustments are required if your comparable properties include Security related expenses. | NOT INCLUDED | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||||||
| Other (Describe) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||||||||||
| TOTAL SERVICES FURNISHED (Market Rate) | $ - 0 | Adjustment | $ - 0 | Adjustment | $ - 0 | Adjustment | $ - 0 | Adjustment | $ - 0 | Adjustment | $ - 0 | ||||||||
| Adjusted Gross Rent | $ - 0 | Adjusted Gross Rent | $ - 0 | Adjusted Gross Rent | $ - 0 | Adjusted Gross Rent | $ - 0 | Adjusted Gross Rent | $ - 0 |
| Section 5 | OTHER ADJUSTMENTS | |||||||||||||
| Lease Term | ||||||||||||||
| Nicholas S Hufford: The subject is leased with a 10 year term. Adjustments reflect market reaction to differing lease terms - premiums or discounts for longer or shorter terms - as compared to the subject's 10 year term. | 10-YEAR TERM | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||
| Area Rented (Largest Tenant Lease Size) | ||||||||||||||
| Nicholas S Hufford: Describe area. Adjust for differences in scale (subject lease size as indicated by the largest lease; vs. area leased in comp). | 0 SF | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||
| Building Utility (Tenanted Floor R/U Ratio) | ||||||||||||||
| Nicholas S Hufford: Provide R/U factors for comps and adjust to subject for differences in building efficiency, if appropriate. | 0.000 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||
| Location (in market) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||||||
| Location (in building) | Average | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||
| Parking | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||||||
| Initial Alterations/Tenant Improvements | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||||||
| Building Quality | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||||||
| Building Age and Condition | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||||||
| Other (Describe) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||||||
| Other (Describe) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||||||
| Rent Levelization | ||||||||||||||
| Nicholas S Hufford: The adjustment reflects the difference between the initial rate (adjusted for concessions) and the levelized rate of the contract rents, which incorporates all rent escalations during the term of the contract. | Flat 10-Yr Base, services escalate | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||
| TOTAL OTHER ADJUSTMENTS | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 |
| 6 | NET ADJUSTMENTS | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 |
| INDICATED ANNUAL RATE | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 |
7 SELECTED ANNUAL RATE, PER RENTABLE SF, FULLY SERVICED (EXCEPT SECURITY) FOR THE SUBJECT PROPERTY $ - 0 SELECTED ANNUAL RATE, PER RENTABLE SF, UNSERVICED FOR THE SUBJECT PROPERTY $ - 0 Nicholas S Hufford: The imputed unserviced rate is the Fully Serviced Rate, less the Market Rate cost of services, from above.
Nicholas S Hufford: Provide general interior descriptions of the subject and the compared properties, as the basis for further quality/condition or TI adjustments.
Nicholas S Hufford: The adjustment reflects the difference between the initial rate (adjusted for concessions) and the levelized rate of the contract rents, which incorporates all rent escalations during the term of the contract.
Nicholas S Hufford: Specify lease start date for each comparable lease.
Nicholas S Hufford: Adjustments reflect changes in market conditions over time (appreciation or depreciation in market rents) from date of comparable lease to appraisal date.
ChristopherHReed: Examples: Free Rent, Moving Allowance, Signage, etc.
Wayne Bradley: Fixed expenses such as taxes & insurance should be adjusted here.
Nicholas S Hufford: Initial lease rate Nicholas S Hufford: Provide market supported expense estimates for the services provided in the subject building.
Christopher Reed: Administrative expenses including building management fees.
Nicholas S Hufford: Security is managed, calculated and billed separately by the Department of Homeland Security. FAR rates do not include any expenses related specifically to Security. Downward adjustments are required if your comparable properties include Security related expenses. 2018 V6.73
&"Times New Roman,Bold Italic"GSA Fair Annual Rent Appraisal
&"Times New Roman,Bold Italic"GSA Fair Annual Rent Appraisal
Office Rent 10yr
| GENERAL USE/OFFICE SPACE RENT COMPARISON GRID - 10 Year Term (Rent Comparisons 1 - 5) | ||||
| Section 1 | Appraisal Subject | |||
| Property Location | Comparable 1 |
Tenant Name and Property Location Comparable 2 Tenant Name and Property Location Comparable 3 Tenant Name and Property Location Comparable 4 Tenant Name and Property Location Comparable 5 Tenant Name and Property Location
| GENERAL USE/OFFICE | |
| SPACE | |
| Federal Bldg | |
| RENT GRID | 123 Main St. |
| SERVICES AND | Oldtowne, TS |
| ADJUSTMENTS | |
| Building TS12345ZZ |
Section 2 INTERIOR DESCRIPTION Nicholas S Hufford: Provide general interior descriptions of the subject and the compared properties, as the basis for further quality/condition or TI adjustments.
| Ceilings |
| Walls |
| Floor Coverings |
| Light Fixtures |
| Section 3 | RENTAL RATE PER RENTABLE SF | |||||||||||||||
| Date of Lease | ||||||||||||||||
| Nicholas S Hufford: Specify lease start date for each comparable lease. | 10/1/14 | $ - 0 | ||||||||||||||
| Nicholas S Hufford: Initial lease rate | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||||||
| Market Conditions | ||||||||||||||||
| Nicholas S Hufford: Adjustments reflect changes in market conditions over time (appreciation or depreciation in market rents) from date of comparable lease to appraisal date. | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||||||||
| Lease Concessions | ||||||||||||||||
| ChristopherHReed: Examples: Free Rent, Moving Allowance, Signage, etc. | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||||||||
| Fixed Expenses | ||||||||||||||||
| Wayne Bradley: Fixed expenses such as taxes & insurance should be adjusted here. | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||||||||
| Adjusted Rental Rate | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 |
| Section 4 | SERVICES (Rates and Adjustments) | ||
| PER RENTABLE SF | By GSA | Mkt Rate |
Nicholas S Hufford: Provide market supported expense estimates for the services provided in the subject building.
By Lessor +/-ADJ Nicholas S Hufford: Services adjustments reflect the difference in expense rates for services provided in the comparable property as compared to expense rates for the subject (assumed to be at market rates).
| By Lessor | +/-ADJ | By Lessor | +/-ADJ | By Lessor | +/-ADJ | By Lessor | +/-ADJ | ||||||||||||
| Cleaning | Included | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||||||
| Repairs & Maintenance | Included | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||||||
| Utilities | Included | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||||||
| Roads/Grounds | Included | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||||||
| Administrative Expenses | |||||||||||||||||||
| Christopher Reed: Administrative expenses including building management fees. | Included | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||||||
| Security | |||||||||||||||||||
| Nicholas S Hufford: Security is managed, calculated and billed separately by the Department of Homeland Security. FAR rates do not include any expenses related specifically to Security. Downward adjustments are required if your comparable properties include Security related expenses. | NOT INCLUDED | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||||||
| Other (Describe) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||||||||||
| TOTAL SERVICES FURNISHED (Market Rate) | $ - 0 | Adjustment | $ - 0 | Adjustment | $ - 0 | Adjustment | $ - 0 | Adjustment | $ - 0 | Adjustment | $ - 0 | ||||||||
| Adjusted Gross Rent | $ - 0 | Adjusted Gross Rent | $ - 0 | Adjusted Gross Rent | $ - 0 | Adjusted Gross Rent | $ - 0 | Adjusted Gross Rent | $ - 0 |
| Section 5 | OTHER ADJUSTMENTS | |||||||
| Lease Term | ||||||||
| Nicholas S Hufford: The subject is leased with a ten year term. Adjustments reflect market reaction to differing lease terms - premiums or discounts for longer or shorter terms - as compared to the subject's ten year term. | 10-YEAR TERM | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||
| Area Rented (typical lease size) | ||||||||
| Nicholas S Hufford: Describe area. Adjust for differences in scale (subject lease size as indicated by typical leases for buildings with similar floor plates offering partial floor tenancy; vs. area leased in comp) or for partial floor vs. full floor; if appropriate. | 0 SF | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||
| Building Utility (Tenanted Floor R/U Ratio) |
Nicholas S Hufford: Provide R/U factors for comps and adjust to subject for differences in building efficiency, if appropriate.
| Nicholas S Hufford: Provide general interior descriptions of the subject and the compared properties, as the basis for further quality/condition or TI adjustments. | 0.000 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||||
| Location (in market) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||
| Location (in building) | Average | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||||
| Parking | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||
| Initial Alterations/Tenant Improvements | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||
| Building Quality | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||
| Building Age and Condition | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||
| Other (Describe) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||
| Other (Describe) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||
| TOTAL OTHER ADJUSTMENTS, EXCEPT LEVELIZATION | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||
| Rent Levelization Adjustment | |||||||||||||
| Nicholas S Hufford: The adjustment reflects the difference between the initial rate (adjusted for concessions) and the levelized rate of the contract rents, which incorporates all rent escalations during the term of the contract. | Flat 10-Yr Base, services escalate | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||||
| TOTAL OTHER ADJUSTMENTS | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 |
| Section 6 | STARTING RATE CONCLUSION | ||||||
| NET ADJUSTMENTS, EXCEPT LEVELIZATION | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||
| INDICATED ANNUAL STARTING RATE | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||
| SELECTED ANNUAL STARTING RATE, FULLY SERVICED (EXCEPT SECURITY) FOR THE SUBJECT PROPERTY | $ - 0 | SELECTED ANNUAL STARTING RATE, UNSERVICED FOR THE SUBJECT PROPERTY | $ - 0 |
ChristopherHReed: The imputed unserviced rate is the Fully Serviced Rate, less the Market Rate cost of services, from above.
| Section 7 | LEVELIZED RATE CONCLUSION | ||||||
| NET ADJUSTMENTS | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||
| INDICATED ANNUAL LEVELIZED RATE | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||
| SELECTED ANNUAL LEVELIZED RATE, FULLY SERVICED (EXCEPT SECURITY) FOR THE SUBJECT PROPERTY | $ - 0 | SELECTED ANNUAL LEVELIZED RATE, UNSERVICED FOR THE SUBJECT PROPERTY | $ - 0 |
ChristopherHReed: The imputed unserviced rate is the Fully Serviced Rate, less the Market Rate cost of services, from above.
Nicholas S Hufford: The adjustment reflects the difference between the initial rate (adjusted for concessions) and the levelized rate of the contract rents, which incorporates all rent escalations during the term of the contract.
Nicholas S Hufford: Specify lease start date for each comparable lease.
Nicholas S Hufford: Adjustments reflect changes in market conditions over time (appreciation or depreciation in market rents) from date of comparable lease to appraisal date.
ChristopherHReed: Examples: Free Rent, Moving Allowance, Signage, etc.
Wayne Bradley: Fixed expenses such as taxes & insurance should be adjusted here.
Nicholas S Hufford: Initial lease rate Nicholas S Hufford: Provide market supported expense estimates for the services provided in the subject building.
Christopher Reed: Administrative expenses including building management fees.
Nicholas S Hufford: Security is managed, calculated and billed separately by the Department of Homeland Security. FAR rates do not include any expenses related specifically to Security. Downward adjustments are required if your comparable properties include Security related expenses. 2018 V6.62
&"Times New Roman,Bold Italic"GSA Fair Annual Rent Appraisal
Warehouse Rent
| WAREHOUSE SPACE RENT COMPARISON GRID (Rent Comparisons 1 - 5) | ||||
| Section 1 | Appraisal Subject | |||
| Property Location | Comparable 1 |
Tenant Name and Property Location Comparable 2 Tenant Name and Property Location Comparable 3 Tenant Name and Property Location Comparable 4 Tenant Name and Property Location Comparable 5 Tenant Name and Property Location
| WAREHOUSE | |
| SPACE | |
| Federal Bldg | |
| RENT GRID | 123 Main St. |
| SERVICES AND | Oldtowne, TS |
| ADJUSTMENTS | |
| Building TS12345ZZ |
Section 2 BUILDING DESCRIPTION Nicholas S Hufford: Provide general descriptions of the subject and the compared properties, as the basis for further quality/condition or TI adjustments.
| Height/Bay Spacing |
| Floor Height |
| Sprinklers |
| Heat/Air |
| Docks |
| Office/Finishes |
| Lighting |
| Other |
| Section 3 | RENTAL RATE PER RENTABLE SF | |||||||||||
| Date of Lease | ||||||||||||
| Nicholas S Hufford: Specify lease start date for each comparable lease. | 10/1/14 | $ - 0 | ||||||||||
| Christopher Reed: Initial Lease Rate | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||
| Market Conditions | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||||
| Lease Conditions | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||||
| Concessions | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||||
| Fixed Expenses | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||||
| Adjusted Rental Rate (Adjusted to appraisal date, unaffected by concessions, etc.) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 |
| Section 4 | SERVICES (Rates and Adjustments) | ||||
| PER RENTABLE SF | By GSA | Mkt Rate | |||
| Nicholas S Hufford: Provide market supported expense estimates for the services provided in the subject building. | By Lessor | +/-ADJ |
Nicholas S Hufford: Services adjustments reflect the difference in expense rates for services provided in the comparable property as compared to expense rates for the subject (assumed to be at market rates).
| By Lessor | +/-ADJ | By Lessor | +/-ADJ | By Lessor | +/-ADJ | By Lessor | +/-ADJ | ||||||||||||
| Cleaning | Included | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||||||
| Repairs & Maintenance | Included | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||||||
| Utilities | Included | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||||||
| Roads/Grounds | Included | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||||||
| Administrative Expenses | |||||||||||||||||||
| Christopher Reed: Administrative expenses including building management fees | Included | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||||||
| Security | |||||||||||||||||||
| Nicholas S Hufford: Security is managed, calculated and billed separately by the Department of Homeland Security. FAR rates do not include any expenses related specifically to Security. Downward adjustments are required if your comparable properties include Security related expenses. | NOT INCLUDED | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||||||
| Other (Describe) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||||||||||
| TOTAL SERVICES FURNISHED (Market Rate) | $ - 0 | Adjustment | $ - 0 | Adjustment | $ - 0 | Adjustment | $ - 0 | Adjustment | $ - 0 | Adjustment | $ - 0 | ||||||||
| Adjusted Gross Rent | $ - 0 | Adjusted Gross Rent | $ - 0 | Adjusted Gross Rent | $ - 0 | Adjusted Gross Rent | $ - 0 | Adjusted Gross Rent | $ - 0 |
| Section 5 | OTHER ADJUSTMENTS | |||||||||||||
| Lease Term | ||||||||||||||
| Nicholas S Hufford: The subject is leased with a 10 year term. Adjustments reflect market reaction to differing lease terms - premiums or discounts for longer or shorter terms - as compared to the subject's 10 year term. | 10-YEAR TERM | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||
| Area Rented (Largest Tenant Lease Size) | ||||||||||||||
| Nicholas S Hufford: Describe area. Adjust for differences in scale (subject lease size as indicated by the largest lease; vs. area leased in comp) | 0 SF | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||
| Building Utility (Tenanted Floor R/U Ratio) | ||||||||||||||
| ChristopherHReed: Provide R/U factors for comps and adjust to subject for differences in building efficiency, if appropriate. | 0.000 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||
| Location (in market) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||||||
| Location (in building) | Average | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||
| Quality (height, bay size, construction, etc.) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||||||
| Age/Condition | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||||||
| Office Ratio and Finish/TI | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||||||
| Docks/Doors/Access | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||||||
| Floor Height | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||||||
| Other (Describe) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||||||
| Other (Describe) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||||||
| Rent Levelization | ||||||||||||||
| Nicholas S Hufford: The adjustment reflects the difference between the initial rate (adjusted for concessions) and the levelized rate of the contract rents, which incorporates all rent escalations during the term of the contract. | Flat 10-Yr Base, services escalate | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||
| TOTAL OTHER ADJUSTMENTS | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 |
| 6 | NET ADJUSTMENTS | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 |
| INDICATED ANNUAL RATE | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 |
7 SELECTED ANNUAL RATE, FULLY SERVICED (EXCEPT SECURITY) FOR THE SUBJECT PROPERTY $ - 0 SELECTED ANNUAL RATE, UNSERVICED FOR THE SUBJECT PROPERTY $ - 0 Nicholas S Hufford: Calculated; Fully serviced rate less the Services Furnished rate.
Nicholas S Hufford: Provide market supported expense estimates for the services provided in the subject building.
Christopher Reed: Administrative expenses including building management fees Nicholas S Hufford: Security is managed, calculated and billed separately by the Department of Homeland Security. FAR rates do not include any expenses related specifically to Security. Downward adjustments are required if your comparable properties include Security related expenses.
Nicholas S Hufford: Specify lease start date for each comparable lease.
Nicholas S Hufford: Services adjustments reflect the difference in expense rates for services provided in the comparable property as compared to expense rates for the subject (assumed to be at market rates).
Nicholas S Hufford: The adjustment reflects the difference between the initial rate (adjusted for concessions) and the levelized rate of the contract rents, which incorporates all rent escalations during the term of the contract.
Nicholas S Hufford: The subject is leased with a 10 year term. Adjustments reflect market reaction to differing lease terms - premiums or discounts for longer or shorter terms - as compared to the subject's 10 year term.
Nicholas S Hufford: Provide general descriptions of the subject and the compared properties, as the basis for further quality/condition or TI adjustments.
Nicholas S Hufford: Describe area. Adjust for differences in scale (subject lease size as indicated by the largest lease; vs. area leased in comp) ChristopherHReed: Provide R/U factors for comps and adjust to subject for differences in building efficiency, if appropriate.
Christopher Reed: Initial Lease Rate 2018 V6.73
&"Times New Roman,Bold Italic"GSA Fair Annual Rent Appraisal
&"Times New Roman,Bold Italic"GSA Fair Annual Rent Appraisal
Warehouse Rent 10yr
| WAREHOUSE SPACE RENT COMPARISON GRID - 10 Year Term (Rent Comparisons 1 - 5) | ||||
| Section 1 | Appraisal Subject | |||
| Property Location | Comparable 1 |
Tenant Name and Property Location Comparable 2 Tenant Name and Property Location Comparable 3 Tenant Name and Property Location Comparable 4 Tenant Name and Property Location Comparable 5 Tenant Name and Property Location
| WAREHOUSE | |
| SPACE | |
| Federal Bldg | |
| RENT GRID | 123 Main St. |
| SERVICES AND | Oldtowne, TS |
| ADJUSTMENTS | |
| Building TS12345ZZ |
Section 2 BUILDING DESCRIPTION Nicholas S Hufford: Provide general descriptions of the subject and the compared properties, as the basis for further quality/condition or TI adjustments.
| Height/Bay Spacing |
| Floor Height |
| Sprinklers |
| Heat/Air |
| Docks |
| Office/Finishes |
| Lighting |
| Other |
| Section 3 | RENTAL RATE PER RENTABLE SF | |||||||||||
| Date of Lease | ||||||||||||
| Nicholas S Hufford: Specify lease start date for each comparable lease. | 10/1/14 | $ - 0 | ||||||||||
| Christopher Reed: Initial Lease Rate | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||
| Market Conditions | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||||
| Lease Conditions | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||||
| Concessions | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||||
| Fixed Expenses | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||||
| Adjusted Rental Rate (Adjusted to appraisal date, unaffected by concessions, etc.) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 |
| Section 4 | SERVICES (Rates and Adjustments) | ||||
| PER RENTABLE SF | By GSA | Mkt Rate | |||
| Nicholas S Hufford: Provide market supported expense estimates for the services provided in the subject building. | By Lessor | +/-ADJ |
Nicholas S Hufford: Services adjustments reflect the difference in expense rates for services provided in the comparable property as compared to expense rates for the subject (assumed to be at market rates).
| By Lessor | +/-ADJ | By Lessor | +/-ADJ | By Lessor | +/-ADJ | By Lessor | +/-ADJ | ||||||||||||
| Cleaning | Included | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||||||
| Repairs & Maintenance | Included | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||||||
| Utilities | Included | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||||||
| Roads/Grounds | Included | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||||||
| Administrative Expenses | |||||||||||||||||||
| Christopher Reed: Administrative expenses including building management fees | Included | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||||||
| Security |
Nicholas S Hufford: Security is managed, calculated and billed separately by the Department of Homeland Security. FAR rates do not include any expenses related specifically to Security. Downward adjustments are required if your comparable properties include Security related expenses.
Nicholas S Hufford: Services adjustments reflect the difference in expense rates for services provided in the comparable property as compared to expense rates for the subject (assumed to be at market rates).
| NOT INCLUDED | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||||||
| Other (Describe) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||||||
| TOTAL SERVICES FURNISHED (Market Rate) | $ - 0 | Adjustment | $ - 0 | Adjustment | $ - 0 | Adjustment | $ - 0 | Adjustment | $ - 0 | Adjustment | $ - 0 | |||||||
| Adjusted Gross Rent | $ - 0 | Adjusted Gross Rent | $ - 0 | Adjusted Gross Rent | $ - 0 | Adjusted Gross Rent | $ - 0 | Adjusted Gross Rent | $ - 0 |
| Section 5 | OTHER ADJUSTMENTS |
| Lease Term |
Nicholas S Hufford: The subject is leased with a five year term. Adjustments reflect market reaction to differing lease terms - premiums or discounts for longer or shorter terms - as compared to the subject's five year term.
| Nicholas S Hufford: Provide general descriptions of the subject and the compared properties, as the basis for further quality/condition or TI adjustments. | 10-YEAR TERM | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||||
| Area Rented (market lease size/floor plate) | |||||||||||||
| Nicholas S Hufford: Describe measurement type and area. Adjust for measurement type (such as rentable vs. usable) and for differences in scale (subject typical plate size vs. area leased in comp) if appropriate. | 0 SF | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||||
| Building Utility (Tenanted Floor R/U Ratio) | |||||||||||||
| ChristopherHReed: Provide R/U factors for comps and adjust to subject for differences in building efficiency, if appropriate. | 0.000 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||||
| Location (in market) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||
| Location (in building) | Average | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||||
| Quality (height, bay size, construction, etc.) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||
| Age/Condition | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||
| Office Ratio and Finish/TI | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||
| Docks/Doors/Access | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||
| Floor Height | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||
| Other (Describe) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||
| Other (Describe) | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||
| TOTAL OTHER ADJUSTMENTS, EXCEPT LEVELIZATION | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||||||||
| Rent Levelization | |||||||||||||
| Nicholas S Hufford: The adjustment reflects the difference between the initial rate (adjusted for concessions) and the levelized rate of the contract rents, which incorporates all rent escalations during the term of the contract. | Flat 10-Yr Base, services escalate | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||||||
| TOTAL OTHER ADJUSTMENTS | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 |
| Section 6 | STARTING RATE CONCLUSION | ||||||
| NET ADJUSTMENTS, EXCEPT LEVELIZATION | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||
| INDICATED ANNUAL STARTING RATE | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||
| SELECTED ANNUAL STARTING RATE, FULLY SERVICED (EXCEPT SECURITY) FOR THE SUBJECT PROPERTY | $ - 0 | SELECTED ANNUAL STARTING RATE, UNSERVICED FOR THE SUBJECT PROPERTY | $ - 0 |
Nicholas S Hufford: Calculated; Fully serviced rate less the Services Furnished rate.
| Nicholas S Hufford: Specify lease start date for each comparable lease. | Section 7 | LEVELIZED RATE CONCLUSION | ||||||
| NET ADJUSTMENTS | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||
| INDICATED ANNUAL LEVELIZED RATE | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||
| SELECTED ANNUAL LEVELIZED RATE, FULLY SERVICED (EXCEPT SECURITY) FOR THE SUBJECT PROPERTY | $ - 0 | SELECTED ANNUAL LEVELIZED RATE, UNSERVICED FOR THE SUBJECT PROPERTY | $ - 0 |
Nicholas S Hufford: Calculated; Fully serviced rate less the Services Furnished rate.
Nicholas S Hufford: The adjustment reflects the difference between the initial rate (adjusted for concessions) and the levelized rate of the contract rents, which incorporates all rent escalations during the term of the contract.
Christopher Reed: Initial Lease Rate 2018 V6.62
&"Times New Roman,Bold Italic"GSA Fair Annual Rent Appraisal
Change History
| Version | Tab | Section | Change |
| 1.00 - 2/12/2007 | |||
| Workbook | |||
| All Sheets | |||
| Deleted grid lines in all sheets | |||
| Allowed users to select locked cells so they can select and highlight to copy and paste | |||
| Change History Tab | |||
| Worksheet | |||
| Created | |||
| 1.50 - 2/20/2007 | |||
| Workbook | |||
| All Sheets | |||
| Changed comp numbers from ABC to 1,2,3 on all sheets. Parking 1-6. | |||
| 2.00 - 3/14/2007 | |||
| Contractors Summary Tab | |||
| Worksheet | |||
| Changed Rentable and usable to be input fields, with R/U as the result, rounding to 9 places, changed related comments | |||
| 2.50 - 3/15/2007 | |||
| Contractors Summary Tab | |||
| Worksheet | |||
| Changed all trend calculations to account for partial year time periods. 'Rents, services and parking calculate from current appraisal date to next fiscal year, then to effective fiscal year, then to future fiscal year. | |||
| Added monthly rates for parking 'Parking now indicates monthly and annual rates, with monthly being the working rate. | |||
| Added a line for indication of Market Tenant Improvements | |||
| Added a column in rates for AS OF CURRENT FY; now has Current date, Current FY, Effective minus 1, Effective, and Effective plus 1. | |||
| GSA Summary Tab | |||
| Worksheet | |||
| Changed all trend calculations to account for partial year time periods. 'Rents, services and parking calculate from current appraisal date to next fiscal year, then to effective fiscal year, then to future fiscal year. | |||
| Added monthly rates for parking 'Parking now indicates monthly and annual rates, with monthly being the working rate. | |||
| Added a line for indication of Market Tenant Improvements | |||
| Office Rent Tab | |||
| Worksheet | |||
| Changed some verbiage in rent grid adjustments, subject column, etc. | |||
| 3.00 - 3/19/2007 | |||
| Warehouse Rent Tab | |||
| Worksheet | Shaded E41 on Warehouse sheet. | ||
| 3.50 - 3/21/2007 | |||
| Workbook | |||
| All Sheets | |||
| Added section numbers | |||
| 3.60 - 3/27/2007 | |||
| GSA Summary Tab | |||
| Section 4 | |||
| Added three additional columns on GSA Summary to show Effective FY plus 1 Yr (had been left out) | |||
| 4.00 - 4/24/2007 | |||
| Contractors Summary Tab | |||
| Worksheet | |||
| Added "per sf" on CAF section | |||
| Changed Building shell description | |||
| Added PGI to Rental Rate Conclusions | |||
| 5.00 - 5/29/2007 | |||
| Contractors Summary Tab | |||
| Section 4 | |||
| Changed titles of FY on bottom of Contractor summary from "less 1 year". etc to the named fiscal year. | |||
| Corrected calculations throughout section 4 of Contactor's summary sheet. | |||
| Shaded cells on Contractor Summary page for Market typical TI | |||
| Added drop down box for Rentable/Usable/Gross | |||
| Tied Rentable/Usable/Gross to rent/income descriptions on grids and summary | |||
| Rounded results of rent escalations, so that the PGI would be the actual result of the rent times the area (not using the carried out digits) | |||
| Office Rent Tab | |||
| Worksheet | |||
| Changed adjustment description from "Lease Date/Time Adjustment" to Market Conditions | |||
| Added building number in Subject space on Rent Grids sheets | |||
| Changed some wording, added comments about levelizing. | |||
| Warehouse Rent Tab | |||
| Worksheet | |||
| Changed adjustment elements on the Warehouse grid | |||
| Parking Rents Tab | |||
| Worksheet | |||
| Unlocked annual rent cell so appraiser can use a different annual rate if not 12x monthly rate. | |||
| 5.30 - 12/4/2008 | |||
| Workbook | |||
| All Sheets | |||
| Many changes, too numerous to list, were incorporated after the Appraiser Conference. | |||
| 6.10 - 3/4/2010 | |||
| GSA Summary Tab | |||
| Worksheet | |||
| Removed | |||
| Contractors Summary Tab | |||
| Section 1 | |||
| Removed General Use/Office Space Market RSF Cell | |||
| Removed Warehouse Space Market RSF Cell | |||
| Added cells for Inside Reserved and Outside Reserved parking spaces | |||
| Section 3 | |||
| Removed Market R/U Ratio Cells | |||
| Section 4 | |||
| Removed General Use, Warehouse & Parking Gross Potential Income Rows | |||
| Added Rows to reflect Inside Reserved and Outside Reserved Parking rates | |||
| Office Rent Tab | |||
| Worksheet | |||
| Adjusted layout to reflect only 5 comps in a single landscape page | |||
| Section 5 | |||
| Changed Building Utility cell to reflect GSA R/U not Market R/U | |||
| Section 7 | |||
| Adjusted layout of Section 7 | |||
| Warehouse Rent Tab | |||
| Worksheet | |||
| Adjusted layout to reflect only 5 comps in a single landscape page | |||
| Section 5 | |||
| Changed Building Composition cell to reflect GSA R/U not Market R/U | |||
| Section 7 | |||
| Adjusted layout of Section 7 | |||
| Parking Rents Tab | |||
| Section 1 | |||
| Added row to account for any premium associated with RESERVED parking spaces | |||
| Added row to distinguish monthly rental rates for Unreserved/Reserved parking spaces | |||
| Section 2 | |||
| Added row to account for any premium associated with RESERVED parking spaces | |||
| Added row to distinguish monthly rental rates for Unreserved/Reserved parking spaces | |||
| Section 3 | |||
| Adjusted layout to reflect Reserved/Unreserved parking rates | |||
| Removed total annual calculation cells | |||
| 6.20 - 3/17/2010 | |||
| Parking Rents Tab | |||
| Section 3 | |||
| Reformatted to incorporate Annual calculations for all parking rates | |||
| 6.33 - 4/3/2012 | |||
| Warehouse Rent Tab | |||
| Section 5 | |||
| Reformatted Building Composition (R/U Adjustment) to accept 2 decimal places | |||
| Contractors Summary Tab | |||
| Section 1 | |||
| Reformatted Building Area fields to accept 2 decimal places | |||
| 6.40 - 4/3/2012 | |||
| Contractors Summary Tab | |||
| Section 3 | |||
| Added functionality to allow Contract Appraiser to determine trending methodology. Selection of methodology determines what rates are trended and what rates are calculated. | |||
| Section 4 | |||
| Updated trending formulas to follow new trending methodology functionality. Services are always trended. If Full Service is selected, Full Service rate is trended and Unserviced rate is calculated as the difference between FS and Services. If Unserviced is selected, Unserviced rate is trended and Full Service rate is calculated as the sum of Unserviced and Services. | |||
| Office Rent Tab | |||
| Section 4 | |||
| Inserted comment for Administrative Expenses: Administrative expenses including building management fees. | |||
| Warehouse Rent Tab | |||
| Section 4 | |||
| Inserted comment for Administrative Expenses: Administrative expenses including building management fees. | |||
| 6.41 - 4/3/2012 | |||
| Contractors Summary Tab | |||
| Section 4 | |||
| Parking Rates as of Current Date are now tied to Annual rates, not Monthly | |||
| 6.42 - 4/5/2012 | |||
| Contractors Summary Tab | |||
| Section 4 | |||
| Services are now broken down into individual components for General Use and Warehouse. Total is no longer trended separately, new Total services is calculated as the sum of the individual components. | |||
| Worksheet | |||
| Inserted new far left column to correct formatting while printing | |||
| 6.43 - 4/5/2012 | |||
| Contractors Summary Tab | |||
| Section 4 | |||
| Parking labels now reflect Annual Amount | |||
| 6.44 - 5/9/2012 | |||
| Contractors Summary Tab | |||
| Worksheet | |||
| Version # in footer is now a formula linked to the Fiscal Year (Cell D3) | |||
| Section 4 |
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