Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2) You have been sent out to find new office space for your company. You tour a 145,000 square foot, 5-story office building. Each floor

2) You have been sent out to find new office space for your company. You tour a 145,000 square foot, 5-story office building. Each floor is 29,000 square feet and contains 4,500 square feet of common space for bathrooms and elevators. The building has a total of 5,000 square feet of elevator shafts and stairwells (1,000 square feet per floor). The building also has a 13,000 square foot lobby and elevator corridor on the first floor and a 4,000 square foot conference center on the top floor that is used by all tenants. You tour an 8,000 square foot space on the top floor. If your rent is quoted as $40 per square foot per year gross rent based on usable area, what is your total amount of rent you would pay in the first year of your lease after applying the load factor? (Hint: You should assume 3,000 square feet of common space on the top floor is exclusively used by the 5th floor tenants).

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Handbook Of Alternative Assets

Authors: Peter Temple

1st Edition

161477076X, 978-1906659219

More Books

Students also viewed these Finance questions