You are offered the opportunity to develop a $400,000$ sf warehouse facility for General Foods in suburban Philadelphia. Attracted by your expertise as a local warehouse developer, General Foods has offered to sign a triple net lease for seven years at a rent for $$2$ million per year. They also insist that at the end of the seven$-$year lease term they have the option to purchase the property at $$26$ million. Their final major condition is that the project be completed and ready for occupancy in $11$ months. If it is not complete by that time the deal is void. You estimate that the property will cost $$20$ million to complete $($including all costs$)$ and that you should be able to complete it in ten months if you commence construction immediately. You believe that you can obtain a construction cost guarantee that guarantees costs will not exceed $$20\mathrm{.}5$ million. You believe that you will be able to obtain a $$15$ million, $25-$year amortization loan $($with a seven$-$year balloon$),$ at a fixed interest rate of $4\%,$ and a $50$ basis point fee $($loan points$).$ You believe that you can close this loan within three weeks from now.

You believe that your company can access up to approximately $$8$ million in equity, assuming that you can successfully tap into appreciated equity positions in three existing properties without triggering capital gains taxes on these positions. Your company will receive a development fee of roughly $3\%$ of project costs $($this cost is included in your $$20$ million cost estimate$).$

Finally, vacancy rates in the market are approximately $4\%,$ gross rents in the market run $$11-13$ per square foot, with operating expenses and taxes running $$2-$$$4$ per square foot. Negotiations are over and it is time to make a decision.

Write an excel pro forma model with all the answers, DON$$T USE CH ATGPT OR ANY AI OR I WILL REPORT YOU TO CHEGG. Thank you for your help. answer here with a table.