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11-1 An office building has three floors of rentable space with a single tenant on each floor. The first floor has 20,240 square feet of
11-1 An office building has three floors of rentable space with a single tenant on each floor. The first floor has 20,240 square feet of rentable space and is currently renting for $15 per square foot. Three years remain on the lease. The lease has an expense stop at $4 per square foot. The second floor has 15,240 square feet of rentable space and is leasing for $15.50 per square foot and has four years remaining on the lease. This lease has an expense stop at $4.50 per square foot. The third floor has 15,240 square feet of leasable space and a lease just signed for the next five years at a rental rate of $17 per square
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