Question: Develop a pro forma statement of cash flow for West Office Plaza. The information given to you is listed below.

Property Information: WEST OFFICE

Rentable Area 334,000 square feet

Age 8 years

Number of Stories 15

Number of Tenants 40

Financial Information:

Base Rent Average $ 20 per square feet

Other Income/Parking/Storage $ 3.20 per square feet

Expenses Recoverable from Tenants $ 4.20 per square feet

Current Vacancy 5%

Expenses: Management/Administration/Security/Ownership $ 698,400 Property Taxes $ 683,500 Insurance $ 433,400 General Operations/Leasing Expense/Marketing $ 675,500 Utilities $ 1,167,600 Janitorial/Cleaning $ 497,500 Business Taxes $ 118,500 Other: Recurring CAPEX/Improvement Allowance $ 708,500