Small City currently has 972,000 square feet of office space, of which 729,000 square feet is occupied by 3,000 employees who are mainly involved in professional services such as finance, insurance, and real estate. Small City's economy has been fairly strong in recent years, but employment growth is expected to be somewhat lower during the next few years, with projections of an increase of the end of the current year (one year from now). No more space is expected to become available after that for quite some time. Required: a. What is the current occupancy rate for office space in Small City? b. How much office space will be absorbed each year for the next three years? c. What will the occupancy rate be at the end of each of the next three years? d. Based on the above analysis, do you think it is more likely that office rental rates will rise or fall over the next three years? Complete this question by entering your answers in the tabs below. What is the current occupancy rate for office space in Small City? How much office space will be absorbed each year for the next three years? What will the occupancy rate be at the end of each of the next three years? (Do not round intermediate calculations. Round 'our final answers to 2 decimal places.) \begin{tabular}{|l|l|l|} \hline Required A & Required B & Required C \\ \hline \end{tabular} Based on the above analysis, do you think it is more likely that office rental rates will rise or fall over the next three years? Rents are likely to Small City currently has 972,000 square feet of office space, of which 729,000 square feet is occupied by 3,000 employees who are mainly involved in professional services such as finance, insurance, and real estate. Small City's economy has been fairly strong in recent years, but employment growth is expected to be somewhat lower during the next few years, with projections of an increase of the end of the current year (one year from now). No more space is expected to become available after that for quite some time. Required: a. What is the current occupancy rate for office space in Small City? b. How much office space will be absorbed each year for the next three years? c. What will the occupancy rate be at the end of each of the next three years? d. Based on the above analysis, do you think it is more likely that office rental rates will rise or fall over the next three years? Complete this question by entering your answers in the tabs below. What is the current occupancy rate for office space in Small City? How much office space will be absorbed each year for the next three years? What will the occupancy rate be at the end of each of the next three years? (Do not round intermediate calculations. Round 'our final answers to 2 decimal places.) \begin{tabular}{|l|l|l|} \hline Required A & Required B & Required C \\ \hline \end{tabular} Based on the above analysis, do you think it is more likely that office rental rates will rise or fall over the next three years? Rents are likely to
