Total Project Costs: $$92,500,000$

Assumptions:

Acquisition Costs: $$40,000,000$

Construction Budget: Hard Costs $$24,000,000,$ Soft Costs $$6,000,000$

Leasing Costs: $$22,500,000$

Lease Type: Triple Net $($NNN$)$

Construction Spending$/$Timing: $100\%$ in $2025$

Lease Information:

Lease $1$ Commencement: $7/1/2026,$ Starting Rent$/$Yr: $$55\mathrm{.}50,$ NOI Based on $2034$ NOI

Annual Rent Growth $($Starts $1/1/29)$: $2\mathrm{.}5\%$

Cap Rate: $5\mathrm{.}75\%$

Free Rent: $9$ months

Tenant Improvements: $$5,000,000$

Lease Maturity: $13$ years, $10$ months

Lease $2$ Commencement: $12/1/2026,$ Starting Rent$/$Yr: $$56\mathrm{.}20$

Annual Rent Growth $($Starts $1/1/29)$: $2\mathrm{.}0\%$

Free Rent: $13$ months

Tenant Improvements: $$2,250,000$

Lease Maturity: $15$ years, $10$ months

Lease $3$ Commencement: $7/1/2027,$ Starting Rent$/$Yr: $$56\mathrm{.}90$

Annual Rent Growth $($Starts $1/1/29)$: $3\mathrm{.}0\%$

Free Rent: $6$ months

Tenant Improvements: $$2,500,000$

Lease Maturity: $15$ years, $8$ months

Other Information:

Vacancy Factor: $5\mathrm{.}0\%$

Rent will increase annually from $2029$ based on the provided growth rates.

These details will be used to calculate the Discounted Cash Flow analysis for the project.

please calculate the net operating income, net present value, and internal rate of return using those assumptions