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A company is moving its headquarters from a city's central business district to its suburbs where it can find similar amenities but significantly lower rents. The company is deciding between two buildings with similar physical characteristics and on-site amenities.

 

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A company is moving its headquarters from a city's central business district to its suburbs where it can find similar amenities but significantly lower rents. The company is deciding between two buildings with similar physical characteristics and on-site amenities. Building #1 offers a Full-Service Gross (FSG) lease structure with rent of $60 per square foot per year. Building #2 offers a triple net rent (NNN) lease structure with rent of $45 per square foot per year. The second building has 10 floors (equal square footage on each floor) of which the firm would occupy one full floor, and it has a total of 150,000 square feet of office space. Estimated annual property taxes on this building are $1,500,000, insurance totals $400,000 per year, and estimated monthly utilities are $8,000 for the entire building. What is the annual effective rent for Building #1 What is the annual effective rent for Building #2 Which one of the building should the company choose based on annual effective rent? $ $ $

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For Building 1 the annual effective rent is equal to the FullService Gross rent per square foot per View the full answer


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Smith and Roberson Business Law

Smith and Roberson Business Law

ISBN: 978-0538473637

15th Edition

Authors: Richard A. Mann, Barry S. Roberts

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Posted Date: June 07, 2023 08:11:44
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