--_004_MWHPR08MB2736449B0D43B6329CAFB168F0CF9MWHPR08MB2736namp_ Content-Type: multipart/alternative; boundary="_000_MWHPR08MB2736449B0D43B6329CAFB168F0CF9MWHPR08MB2736namp_" --_000_MWHPR08MB2736449B0D43B6329CAFB168F0CF9MWHPR08MB2736namp_ Content-Type: text/plain; charset="Windows-1252" Content-Transfer-Encoding: quoted-printable Happy to jump on a call. I=92m flexible after 1pm (PST) today and before 1= pm (PST) tomorrow? Zach Wittenberg Personal Real Estate Corporation Vice President, CBRE Limited D: (604) 662-5158 C: (778) 990-9105 ________________________________ From: Timothy Thomas Sent: Thursday, January 26, 2023 8:36:32 AM To: Wittenberg, Zachary @ Vancouver Cc: Fuller, Lauren @ San Diego ; Madonna Borger Subject: Re: 1861 Marine Dr., West Vancouver, B.C. External Hi Zach, Thanks for the detailed update. We're interested in remaining at this locat= ion however a renovation is needed. What would you recommend we do to secur= e this commitment from the landlord? Perhaps we should schedule another quick call with the team before proceedi= ng with an LOI? Thoughts? Thanks On Tue, Jan 24, 2023 at 1:57 AM Wittenberg, Zachary @ Vancouver > wrote: Hi Team =96 Apologies for the delay in responding. I connected with Bill th= is morning and had a good conversation about the market, your requirements = and renewal terms. He=92s owned the building since 1985 and has had a solid= of run of medical(esq) tenants with little to no vacancy. (Which is not su= rprising given the West Van market). Most of this sub-market is made up of = private owners and the buildings are retirement plans for keeping cash flow= . He has been getting decent action from a posted sign but is still OK to g= ive us the first blush. What I was able to discuss with him: * 3 year term with 3 yr option to renew * $5,980/mth gross (inclusive of property taxes, but those can change y= ear over year) =96 are you able to confirm your current monthly? As I only = have the 2020 figures. * We typically don=92t see this type of rent structure much anymore,= usually it=92s triple net. For example in this neighborhood for similar bu= ildings the rent would be between $40-46 psf net + $20-24 psf in Additional= Rent (prop tax, building common area costs etc). * Renovation allowance: he wasn=92t keen on committing to providing one= but would be dependent on the terms. * Parking: 3 Stalls @ $90/mth + tax * Signage: I understand this is taken care of by the Landlord =96are th= ere any changes/upgrades needed? There are only a few comparable options to consider in the neighborhood: 1. 1820 Marine Dr =96 Across the street from your current location. Woul= d likely require a large reno =96 time/cost would be a big factor. It=92s a= lso a bit smaller. (brochure attached). 2. 1405 Bellevue =96 This would be a good comp. It=92s currently under o= ffer. (brochure attached). 3. 1441 Clyde =96 Also a bit small and not on the main street but a good= comparable option. (no brochure) https://www.spacelist.ca/li