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27 30 33 36 Question 39 (1 point) Consider an office building scheduled to open in Jan 2021. The center is 54,000 square feet (SF),
27 30 33 36 Question 39 (1 point) Consider an office building scheduled to open in Jan 2021. The center is 54,000 square feet (SF), and has three spaces. Suite 101: 18,000 SF of rentable area. Lease start date: Feb 1, 2021. 7-year gross lease at $19/SF. Suite 201: 22,000 SF of rentable area, Lease start date: Jan 1, 2021 3-year gross lease at $15/SF. Suite 202: 14,000 SF of rentable area, Lease start date: Mar 1, 2022 5-year gross lease at $12/SF. Re-leasing: When any lease ends, there is 25% chance tenant will renew. If tenant does not renew, space expected to remain vacant for 4 months until a new tenant arrives. Either renewal or a new lease will be for a 6-year gross lease at the market rate of $20/SF. 39 42 45 48 What is Potential Base Rental Revenue for the office building during 2024? Excel $1.000.000 Lease start date: Mar 1, 2022. 5-year gross lease at $12/SF. Re-leasing: When any lease ends, there is 25% chance tenant will renew. If tenant does not renew, space expected to remain vacant for 4 months until a new tenant arrives. Either renewal or a new lease will be for a 6-year gross lease at the market rate of $20/SF. What is Potential Base Rental Revenue for the office building during 2024? Excel $1,080,000 $950,000 $913,333 $840,000
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