Acme Investors is considering the purchase of an undeveloped tract of land currently zoned for agricultural use. If purchased, ACME must decide what use to target in applying for a zoning variance. Based on a market study ACME estimates the following. What is the highest and best use of the site? Office Retail Rentable/SF 100,000 80,000 Rents/SF $24.00 $28.50 Operating Expense Ratio 40% 35% NOI growth 3% 2% Required Return 13% 14% Cost/SF $120 $100