A 15-story (equal size floors) office building has 10% nonrentable space, and the building lobby (151,200 square feet, rentable) occupies the first three floors. Company LYNX is interested in leasing one of the six equal sized usable areas for tenants on the sixth floor [floor total usable area = rentable square feet of the floor – common space of the floor]. The sixth floor’s common space is 22% of the floor’s rentable square feet. The leasing broker indicated that LYNX’s annual rent will be $199,500. The owner will apply load factor for the common rentable space on the sixth floor as well as the load factor for the building’s lobby to calculate the rentable area for LYNX. 

(a) What is the Gross Area of the Building? 

(b) What is the annual base rent per square feet of rentable space, rounded to zero decimal places, for LYNX?

Answer rating: 100% (QA)

Answer Part a gross area of the building 2520000 squ... View the full answer