Question 6 10 pts A major retail company plans to build 30,000 square building that would cost $8 million to develop. It is expected to lease for $22 per foot (absolute net) with $5 per foot in operating expenses. If the company develops the property and does a sale-leaseback, what price will they get if the property is sold at a 6.25% cap rate? $ 9,777,778 $ 10,153,846 $ 10,560,000 $ 11,000,000 $ 11,478,261