Rate/ Monthly AnnualPeriod PSF Base Rent Base Rent
5/1/17 - 4/30/18 $31.
The agreement also provides for annual increases in the base rent
of no less than 2 percent and not more than 4 percent.
The resulting base rent
is used to determine whether a tax remittance or filing obligation exists.
The aggregate annualized straight line rental income for the occupied units, is approximately $40,000 per unit and the average monthly base rent
, calculated as the monthly base rent
divided by the number of occupied units, is approximately $3,000 per unit.
As part of the plan, the hotel's operator, Seaway, would resume paying rent to the city, with base rent
at about $800,000 per month, and it would also pay back about $650,000 in unpaid golf management fees.
The pay structure -- in which the landlord takes a base rent
plus an additional amount if the retailer achieves a certain sales threshold, or "breakpoint" -- has long been used in malls, brokers said.
During the first quarter, 156 new leases, aggregating approximately 699,000 s/f were signed at an average annual base rent
But there are signs that lenders may be allowing landlords to lower the base rent
instead of relying on concessions, thus recognizing that market-rate rent levels have lowered.
United Parcel Service has leased the corner retail consisting of 2,100 s/f with a base rent
of $33 psf.
Larger tenants, with more negotiating leverage, generally negotiated floors and ceilings which would bracket their escalation liabilities or agreed upon a formula which permitted a percentage of the CPI increase to be passed thru to become additional base rent