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Rent Comparables

Rent ComparablesOffice - 1st Quarter 2012

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Rent Comparables2100 ROSS AVE

2100 Ross Ave, Dallas, TX -- 07/20/2012

Subject Property Location Subject Property Statistics

Comparable Group Summary Statistics

Average Submarket Lease Terms

As of 3/31/12

As of 3/31/12

SUBJECT PROPERTY

COMPARABLE GROUP MARKET SUMMARY

LEASE TERMS

Address 2100 Ross Ave

City Dallas

State TX

ZIP 75201

Metro Dallas

Submarket Dallas CBD

Latitude 32.78757

Longitude -96.79823

Property Type Office

Year Built 1982

Size (SF) 843,728

Asking Rent $20.09

Vacancy 30.9%

Low Mean Median High

Current Asking Rent/SF $14.95 $21.22 $18.81 $32.67

Current Vacancy Rate 0.0% 25.1% 27.6% 58.6%

Operating Expenses/SF $5.85 $7.85 $6.99 $10.86

Real Estate Taxes/SF $1.93 $2.96 $2.88 $4.80

Property Size (SF) 273,000 801,463 774,718 1,248,230

Year Built 1973 1981 1981 1987

Contract Rent Discount -6.4%

Free Rent (months/lease) 2.2

Lease Length (years) 4.5

Tenant Improvements/SF $22.42

Commissions 6.1%


2100 ROSS AVEDALLAS, TX 75201

Prepared by Michael RizzoClearly Objective.

Copyright 2012Reis Services, LLC

This report has been generated for the exclusive use of Michael Rizzo of Reis SE Employee AccountThe use, distribution and display of this report and any of the information contained herein are subject to the Terms and Conditions at ReisReports.com.

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COMPARABLE GROUP LOCATION






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COMPARABLE GROUP LISTING

1

Name Chase Tower Current Asking Rent/SF $32.67

Address 2200 Ross Ave Current Vacancy Rate 14.9%

City Dallas Distance from Subject (miles) 0.05

State TX Property Size (SF) 1,248,230

ZIP 75204 Floors 55

County Dallas Year Built 1987

Submarket Dallas CBD Class A

Data As Of 3/31/12

2

Name Trammell Crow Center Current Asking Rent/SF $28.38

Address 2001 Ross Ave Current Vacancy Rate 27.6%



ZIP 75201 Floors 50



Data As Of 3/31/12

3

Name St Paul Place Current Asking Rent/SF $18.01

Address 750 N Saint Paul St Current Vacancy Rate 38.1%


State TX Property Size (SF) 273,000

ZIP 75201 Floors 22



Data As Of 3/31/12

4

Name Kpmg Center Current Asking Rent/SF $16.01

Address 717 N Harwood St Current Vacancy Rate 27.7%



ZIP 75201 Floors 34



Data As Of 3/31/12






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5

Name Plaza of Americas North Current Asking Rent/SF $19.06

Address 700 N Pearl St Current Vacancy Rate 31.7%



ZIP 75201 Floors 25


Submarket Dallas CBD Class BC

Data As Of 3/31/12

6

Name Plaza of the Americas South Current Asking Rent/SF $19.03

Address 600 N Pearl St Current Vacancy Rate 26.5%



ZIP 75201 Floors 25



Data As Of 3/31/12

7

Name Harwood Center Current Asking Rent/SF $18.59

Address 1999 Bryan St Current Vacancy Rate 39.7%



ZIP 75201 Floors 36



Data As Of 3/31/12

8

Name Bryan Tower Current Asking Rent/SF $19.09

Address 2001 Bryan St Current Vacancy Rate 22.3%



ZIP 75201 Floors 40



Data As Of 3/31/12






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9

Name Patriot Towers Current Asking Rent/SF $14.97

Address 350 N Saint Paul St Current Vacancy Rate 58.6%



ZIP 75201 Floors 30



Data As Of 3/31/12

10

Name Lincoln Plaza Current Asking Rent/SF $14.95

Address 500 N Akard St Current Vacancy Rate 0.0%



ZIP 75201 Floors 45



Data As Of 3/31/12






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GLOSSARY

Subject Property Location

Address: Street address of the property as defined by the user.City: The city in which the property is located as defined by the user.State: The state in which the property is located as defined by the user.ZIP: ZIP code in which the property is located as defined by the user.Metro: The Metropolitan Statistical Area in which the property is located as defined by its addressSubmarket: The submarket in which the property is located as defined by its address. Submarkets withinsufficient inventory for reporting purposes are excluded.

Subject Property Stats

Property Type: Primary property use as defined by the user.Year Built: Year of construction as defined by the user.Size: Property's total square feet of gross leaseable space.Latitude: Property's latitude based upon street address.Longitude: Property's longitude based upon street address.

Comp Group Summary Stats

Current Asking Rent: The weighted average gross annual rent per square foot.Current Vacancy Rate: Amount of available space expressed as a percentage of total square footage.Operating Expenses: Annual cost, per square foot, of operating commercial buildings. Includes property taxes,energy, janitorial service, insurance, general maintenance and managementReal Estate Taxes: Annual expense, per square foot, for the real estate property tax.Property Size: Gross leaseable area in square feet.Year Built: Year of completed construction.Low: Minimum value for the selected peer group.Mean: Arithmetic average value for the selected peer group.Median: The 50th percentile value for the selected peer group.High: Maximum value for the selected peer group.

Avg. Submarket Lease Terms

Contract Rent Discount: The average percentage discount offered by building owners/managers in thissubmarket from the asking rent to final negotiated base rent for new leases.Free Rent: The average free rent concession in this submarket expressed as the number of months over thelease term for new leases.Lease Length: The average term (in years) currently being quoted for new leases in this submarket.Tenant Improvements: The average value granted to a new tenant by an owner for work done on previouslyoccupied space in this submarket, expressed as dollars per square foot per lease term for new leases.Commissions: The average commission paid to leasing agents in this submarket, expressed as a percentage ofmarket rent for newleases.

Comp Group Listing

Name: Name of peer building.Address: Street address of peer.City: City in which the peer is located.State: The state in which the peer is located.ZIP: ZIP Code in which the peer is located.County: County in which the peer is located.Submarket: Reis defined submarket in which the peer is located.SubID: Reis code for the applicable submarket.






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GLOSSARY

Current Asking Rent: Average asking gross rent for the peer property as of the most recent quarterly update tothis peer's record of information.Current Vacancy Rate: Amount of space available for lease expressed as a percentage of total leasable areaas of the most recent quarterly update to this peer's record of information.Distance from Subject: Distance, in miles, from the peer property to the subject property.Property Size: Total leaseable area of the peer in square feet.Floors: Number of floors in the peer.Year Built: Year in which the peer was built.Class: Reis-defined class category for the peer.Data as of: Reis's most recent quarterly update to this peer's record of information.






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Appraisal Institute Designated and Associate Members receive up to 50% off – pay as little as $450 per year.

YOUR SUBSCRIPTION INCLUDES:

» Reports from all sectors in your choice of 200 metros and 2,100 submarkets

» 5 detailed property reports per month, each report contains up to 10 sales comps, 10 rent comps, and a detailed metro and submarket analysis

Rent Comps:

• Asking rents

• Vacancy rates

• Concession data

• Lease terms

• Operating expenses

Sales Comps:

• Sale price

• Cap rates

• Buyer

• Seller

• Financing Terms

Market Analysis:

• Metro & submarket data

• Rent growth trends

• Vacancy rate trends

• Inventory growth

• Construction & absorption

rent comparables - reis inc · pdf filerent comparables 2100 ross ave 2100 ross ave, dallas,...

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