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Attachment 3 July 1, 2025 Pat, It was a pleasure to meet you Monday morning to discuss your requirements for the License and Passport Center, and the Dance Studio. As promised, here is a summary that should be helpful to you for your meeting with the City Council on Monday. Below are rates you can expect in Roseville for the various property types you are considering. Annual costs are determined by multiplying the sum of Net Rates and Tax & CAM charges by the square feet of any given space. Rents are quoted on a per foot per annum basis. To obtain the monthly rate divide this sum by 12. Annual escalations in base rent for these property types will typically vary from 2.5% to 5% and are negotiable. Tax & CAM (common area maintenance) charges are passed on annually based on actual costs and your prorata share of occupancy. Rates: Net Rates Tax & CAM Office Class A&B $12.00 - $18.00 $9.50 - $11.50 Retail Existing $13.00 - $28.00 $7.45 - $13.21 Retail New $40.00+ $10.00 - $14.00 Industrial Warehouse $6.00 - $8.00 $3.50 - $6.50 Industrial Office $12.00 - $15.00 $3.50 - $6.50 Rates for Office properties typically include utilities and janitorial expenses, but for retail and industrial properties the tenant is responsible for those expenses. Parking: Your parking requirement of 40+ parking stalls for the License and Passport Center will be most easily achieved with a retail property, or office property and then industrial. The 20 – 30 parking stall requirement for the Dance Studio may be achievable with all property types because of the prime hours of operation being after normal business hours. Tenant Improvements: Tenant Improvement dollars are typically provided by the Landlord as part of the net rental rates quoted for office and range from $5.00 - $10.00/SF per year of term for office properties. They are typically less for retail and warehouse properties but like office are negotiable versus $5.00 - $10.00/SF per year of term they may vary from $2.50 - $5.00/SF per year of term but are again always negotiable. Finding space with some residual value to its improvements can be a great value add for our clients as any savings on the tenant improvement component can be reflected in lower net rent. For example: For a five-year lease on a 10,000 SF office suite, the Landlord would provide $250,000 - $500,000 in tenant improvement dollars dependent upon length of term, improvements required, and the quality of the tenant’s credit. The net rates will reflect these costs, so the range of rents outlined often depend on what is required for tenant improvements. 150 South Fifth Street, Suite 1400 • Minneapolis, MN 55402 • 612.466.7300 • www.TATONKAre.com Qbhf!63!pg!488