Harry needs to lease 3,000 square feet of usable area, and is considering two different buildings. The first building has a gross leasable area of 21,000 square feet with 1,000 square feet of common areas. The landlord of this building is asking $12.00 per square foot (psf) of rentable area. The second building has a gross leasable area of 33,000 square feet with 3,000 square feet of common areas; the asking rent for this building is $11.50 psf of rentable area.

a) (6points) Calculate the load factor for the first building.

b) (6 points) Calculate the load factor for the second building.

c) (8 points) Assuming that the space being rented is otherwise identical, which option should Harry choose? Explain your answer.