You have been asked to develop a pro forma statement of cash flow for West Office Plaza. The information given to you is listed below.

Property Information:

WEST OFFICE PLAZA

Rentable Area $300,000$ square feet

Age $8$ years

Number of Stories $15$

Number of Tenants $40$

Financial Information:

Base Rent Average $ $20$ per square foot

Other Income or Parking or Storage $ $1\mathrm{.}50$ per square foot

Expenses Recoverable from Tenants $ $2\mathrm{.}50$ per square foot

Current Vacancy $5\%$

Expenses:

Management or Administration or Security or Ownership $ $695,000$

Property Taxes $ $675,000$

Insurance $ $430,000$

General Operations or Leasing Expense or Marketing $ $667,000$

Utilities $ $1,159,100$

Janitorial or Cleaning $ $489,000$

Business Taxes $ $110,000$

Other:

Recurring CAPEX or Improvement Allowance $ $700,000$

Required:

a$.$ Develop a pro forma statement of cash flow for a base year showing net operating income $($NOI$)$ for West Office PlazaWEST OFFICE PLAZA

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