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NOV-25-96 MON 02;27 PM THE SCHOENING GROUP FAX NO, 9201369 P. 03
<br /> COMPARISON OF LEASE PROPOSALS
<br /> SAV Liquor Store
<br /> St.Anthony Vfdage,Minnesota
<br /> •
<br /> Landlord Offer Tenant Response Revised Landlord
<br /> (11176198) (11/78/98) Offer(111211991
<br /> PROPOSAL TERMS
<br /> Promisee,ON 8,508 8F 81508 6F 8,508 OF
<br /> Lease Tumt Ph4sen(16)years Fifteen(16)years Fifteen(15)years
<br />:aneedstlen of Complete: $148,171 Complain: $148,171 Complete:, 4148,171
<br /> 1lpecho Weds Leaser benefit to City of SAV benefit to City of SAV benefit to City of$AV
<br />:onsetrodon Cost Est by Walsh: 15601000 8650,000 !650,000
<br /> W.Tan4m Contrlbudenr 0275,000 1278,000 0278,000
<br /> Est.Lsndlerd Contribuden: !278,000 0278,000 0275,000
<br /> Base Rent,PSP. D25
<br /> Yew t-5: 48.26 $8.50
<br /> Yom 6-10: 48.78 7.25
<br /> Year■11-18: 17.28 =8.00
<br /> Parcent■ge Rant - -----, - -- - -
<br /> Years 1-8: 5%of Was a 41.2M Nene 3%of salsa 41.6M-MOM
<br /> Yeira 8.101 8%of sales>SIAM Nene 3%of sales 11.7M-02.2M
<br /> yaws 11-16: 5%of sake> 11.8M None 3%of solve I1.9M-02AM
<br /> Londlord Offer Tenant Responie Revised landlord
<br /> FWANCLAL ANALYsis (t 1/161981 (11/18/98) Offer(11121/981
<br /> Yre. Yrs. Yea. YN. We. Ym. Yrs. Yrs. Yrs.
<br /> 1_s 9.10 11.16 L 6.10 11•tll 1-s s.10 11 .1s
<br /> Searodo A:Salta at s1.7M
<br /> Annual Base Ram ; 183,183 067,418 081,$"1 1 $63 ,163 487,416 $01,6091 1 165,289 1811889 088,048
<br /> Annutl P tQ.Rent r 16 000 t t 0 l 1 6 000 0
<br /> Tata/ i 4788,1103 472,416 366,669 it 1 163,183 467,416 481,889 i i $61 289 181,869 188,048
<br /> P rs Foot i 49.18 48.61 17.84 i i 18.25 46.76 !7.26 1 1 $7.21 47.25 $8.00
<br /> Ann Avg.over Tarin _' 072,418 ! 467,418 1 1 MASS
<br /> Per Square Peet 48.51 ( 46.75 l r 47.49
<br /> Ann.Profit ever Current
<br /> t t
<br /> at 2M.alta,ten Pota.Rent 376,000 !88,000 696,000 1 i 4100AW 4100,000 3100,000 1 1 494,000 1100,000 $100,000
<br />.Seenarb be Salve at$21CM
<br /> Annual Bae Rent 1 !69,183 457,416 181,809 i 1 483,163 087,418 181,809 1 1 $55.299 381,688 488,048
<br />(Annual Pate.Rent i 40,000 20.000 2Q.000 i i o O Q 1 1 16,000 8,000 3.000
<br /> Cemblmd Total 1 083,163 187,418 381,888 t t 163,163 457.419 48!,689 t $70,298 670,889 !71,048
<br /> Pu Square foot 1 110.88 110.28 38,80= { 48,25 18.76 37.76 1 1 18.28 48.31 18136
<br /> Ann Avg,over Tenn 1 187,418 1 1 057AIS 1 1 $70,669
<br /> P:r Square fleet 1 310.29 ; 1 $0.75 1 1 48.31
<br /> Ann.Pre fft over oun'ent 1 1 1 r
<br /> 11.2M 4.144,Tess Pato.Rene 1 e120,000 3130,000 !!40,000 1 1 1160,000 31e0,000 $100,000, ! $145,000 4161,000 1167,000
<br /> soen!lo a saltie as 42.aM t t
<br /> Anrw■t Ba■e Rent 483,183 !67,418 381,868= t 453,183 467,416 461,869 1 1 066,288 4811889 466,048
<br /> Annual P1etQ.Rent 80.000 50 40,0001 tO 4
<br /> 21 1 27.000 21.000 16,800
<br /> Combined Total t 41!3,163 4107,4-19 $101,6881 1 153,183• 057,416 481,889 i i $82.289 182,883 099,048
<br /> Per Square Peet = 113.30 SIZ03 111.86 1 1 18.25 $8.75 47.28 1 1 39.87 48.72 49.78
<br /> Ann Avg.bear Term r 4107,416 i = 4157A18 i $men
<br /> Per Square PVet 1 1 412.93 i t 48.75 1 1 $9.72 l t
<br /> Ann.ProfR over eurre,t t t t t
<br />/1.310 eaka,less Psty.Rent i $180,000 3190,000 $200,0001 i 4240,000 $240.000 $240,0001 i 8213.000 4239,000 $225.000
<br /> r t t i t
<br /> Nntat
<br /> 11.1 Annud Profit Calculations us swaps annual figures over the o ntba legs term(15
<br /> years)based on a 30%Profit margin an grass sales,as provided by SAV Liquor.
<br /> 12.1 The ficuree above aro cod at"only.Presented for dlustradva pun"M.
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