Question
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).
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