UPPER LEVE LOWER LEVEL For the calculations in this problem, increase decimal places for any intermediate calculations to say, 6 or higher. The more the better! If you can do the math in Excel with correct referencing to cells with intermediate results - even better because Excel by default doesn't round anything. In fact, I highly recommend to solve this problem in Excel because it'll save you a lot of time in part (c)! Simon Property Group (www.simon.com) is a real estate investment company that owns premier shopping, dining, entertainment and mixed-use properties in North America, as well as Europe and Asia. It generates billions in annual sales, and it's therefore the company's priority to maintain the right mix of tenants in its properties that pay the rental prices that are just right. The Maple Mall is a newly opened mall (this is a fictitious mall, by the way!) consists of a total area of 21 million square feet. Macy's, Nordstrom, Sears, and JC Penney are its anchors, and they altogether occupy 5.5 million square feet of space. The mall owner is planning that each in-line tenant in the mall would be paying $2.75 per year per usable square foot in common area maintenance (CAM) charges. In-line tenants will occupy 9.5 million square feet. The remainder is common area square feet (use "O" for any blank values)) which the landlord believes will require $6 per square foot to maintain and operate each year. (round to 2 decimal places and use "O" for any (a) If the shopping mall's owner would like to recover all CAM expenses from all tenants in the mall, the anchors would need to pay $ blank values) every year per square foot of their usable space for the CAM charges. The landlord has run some numbers and figured out a couple additional figures: (b) First, it can charge the anchors additional $0.50 in CAM charges per square foot per year, without risking them leaving for other locations. In this case, the in-line tenants would need to pay $ per square foot per year v (use "1" for "more" or "2" for "less"). (c) Second, if needed, the landlord has some flexibility in reallocating the space in the mall between the common areas and in-line tenants, as well as in adding extra common areas to the existing square footage of the mall. Assume that anchor stores' annual per square foot contribution to the CAM charges can never exceed the annual per square foot contribution by the in-line tenants. How can the square footage of common areas in the shopping mall (e.g., parking structures, food court areas, hallways, etc.) be altered in order for the anchors' annual CAM contribution per square foot to also equal $2.75? Your answer: the square footage of common areas would need to v (use "1" for "increase" or "2" for "decrease") by (round and use "O" for any blank values) square feet. (HINT: "Goal seek" in Excel might be the easiest way to figure this out!) UPPER LEVE LOWER LEVEL For the calculations in this problem, increase decimal places for any intermediate calculations to say, 6 or higher. The more the better! If you can do the math in Excel with correct referencing to cells with intermediate results - even better because Excel by default doesn't round anything. In fact, I highly recommend to solve this problem in Excel because it'll save you a lot of time in part (c)! Simon Property Group (www.simon.com) is a real estate investment company that owns premier shopping, dining, entertainment and mixed-use properties in North America, as well as Europe and Asia. It generates billions in annual sales, and it's therefore the company's priority to maintain the right mix of tenants in its properties that pay the rental prices that are just right. The Maple Mall is a newly opened mall (this is a fictitious mall, by the way!) consists of a total area of 21 million square feet. Macy's, Nordstrom, Sears, and JC Penney are its anchors, and they altogether occupy 5.5 million square feet of space. The mall owner is planning that each in-line tenant in the mall would be paying $2.75 per year per usable square foot in common area maintenance (CAM) charges. In-line tenants will occupy 9.5 million square feet. The remainder is common area square feet (use "O" for any blank values)) which the landlord believes will require $6 per square foot to maintain and operate each year. (round to 2 decimal places and use "O" for any (a) If the shopping mall's owner would like to recover all CAM expenses from all tenants in the mall, the anchors would need to pay $ blank values) every year per square foot of their usable space for the CAM charges. The landlord has run some numbers and figured out a couple additional figures: (b) First, it can charge the anchors additional $0.50 in CAM charges per square foot per year, without risking them leaving for other locations. In this case, the in-line tenants would need to pay $ per square foot per year v (use "1" for "more" or "2" for "less"). (c) Second, if needed, the landlord has some flexibility in reallocating the space in the mall between the common areas and in-line tenants, as well as in adding extra common areas to the existing square footage of the mall. Assume that anchor stores' annual per square foot contribution to the CAM charges can never exceed the annual per square foot contribution by the in-line tenants. How can the square footage of common areas in the shopping mall (e.g., parking structures, food court areas, hallways, etc.) be altered in order for the anchors' annual CAM contribution per square foot to also equal $2.75? Your answer: the square footage of common areas would need to v (use "1" for "increase" or "2" for "decrease") by (round and use "O" for any blank values) square feet. (HINT: "Goal seek" in Excel might be the easiest way to figure this out!)