Aug. 7 at 7:49 PM
$ONL As predicted more shady stuff from ONL management. In Q1 they reported 202 S. Cheyenne as a 330,000 sq ft building at
$5.971,000 in annual base rent going vacant at the end of the quarter [i.e., .3 remaining lease term]. (See Q1 Ex. 99.2 at p27). Now in Q2 they report the building as having 1.1 years remaining on the lease at an ABR of just
$718,000 -- or just over
$2 a foot for 330K sq ft. (Q2 Ex 99.2 p. 28). Next, on page 18 of Q2 Ex 99.2 they assert 5 purported lease renewals in the quarter totaling 330,000 sq ft with a rent concession of
$4,761,000 for the renewals and an average remaining lease term of 3.4 years, which contradicts p.28 which lists a remaining term of 1.1 years on the 330,000 sq ft lease.
