At the beginning of the year, the Tampa Westshore office sub…

At the beginning of the year, the Tampa Westshore office submarket had a total of 12.8 million square feet, of which 11 million were occupied. During the year, an additional 212,000 SF was added (new construction), and 1.2 million became occupied (new leases) while 750,000 SF became vacant (leases expired and tenants moved out). What is the approximate absorption rate for this year?

A national retailer uses 22,500 SF of “big box” store space …

A national retailer uses 22,500 SF of “big box” store space and develops these properties for an average cost of $4.5 million. The space leases for $22 per foot (absolute net) with $5 per foot in operating expenses. If the company does a sale-leaseback, what is the approximate price (rounded to thousands) they can expect to get if the property is sold at a 6.25 cap rate?

Consider an 18,000 SF shopping center where all tenants pay…

Consider an 18,000 SF shopping center where all tenants pay $21 per square foot, triple-net. Assume that operating expenses include real estate taxes of $56,000, insurance of $20,000, and CAM of $32,000. If a tenant requested full service gross (FSG) lease rather than a triple-net (NNN) lease, at what lease rate would the owner be indifferent between the two?

Consider an 18,000 SF shopping center where all tenants pay…

Consider an 18,000 SF shopping center where all tenants pay $20 per square foot, triple-net. Ignore the general vacancy allowance, and assume that reimbursable operating expenses are $90,000 and non-reimbursable operating expenses are only a management fee that is 3.5% of PGI. What is the approximate value of this property at an 8% cap rate?