You have been asked to develop a proforma statement of cash flow for Betts Distribution Center, an Internet-based order fulfillment/distribution/office/warehouse property. In addition to recoverable operating expenses, the new tenant will bebilled for pass throughs including 1 insuranceand property taxes, which will then be paid by the owner. The information given to you is listed below 2 Property Information: 3 BETTS DISTRIBUTION CENTER 4 Age of Improvement (in years) 5 Rentable Space (sq. ft.) 6 Number oftenants 7 Lease 8 Leaseterm (in years) 9 Other Cash Outlays: 10 Recurring CAPEX/Improve Allowance 11 a. Develop a pro forma statement for the Betts property for a base year showing net operating income (NOI). 12 b. If you plan to begin work on future pro formas for Betts, list at least five major factors that you would consider 13 Outputs: 14 a. 15 Proforma Income Statement 16 Revnues 17 Base rent 18 Recoverable expenses 19 Property tax recovery 20Insurance recovery 21Effective gross income (revenue) 22 -Operating expense 23Property taxes 24Insurance expense 25Operating income before capital expense 26Recurring capital expense 27Net operating income (NOI) 28 b Financial Information: Rent (per sq. ft.) 7.00 $1.50 $700,000.00 $50,000.00 15,000.00 8 Recoverable Expenses from Tenant (per sq. ft.) 00,000 Operating Expenses Property Taxes net, net Insurance $60,000.00 Period Input your five reasons below 29 2 30 31 4 32 5 34 You have been asked to develop a proforma statement of cash flow for Betts Distribution Center, an Internet-based order fulfillment/distribution/office/warehouse property. In addition to recoverable operating expenses, the new tenant will bebilled for pass throughs including 1 insuranceand property taxes, which will then be paid by the owner. The information given to you is listed below 2 Property Information: 3 BETTS DISTRIBUTION CENTER 4 Age of Improvement (in years) 5 Rentable Space (sq. ft.) 6 Number oftenants 7 Lease 8 Leaseterm (in years) 9 Other Cash Outlays: 10 Recurring CAPEX/Improve Allowance 11 a. Develop a pro forma statement for the Betts property for a base year showing net operating income (NOI). 12 b. If you plan to begin work on future pro formas for Betts, list at least five major factors that you would consider 13 Outputs: 14 a. 15 Proforma Income Statement 16 Revnues 17 Base rent 18 Recoverable expenses 19 Property tax recovery 20Insurance recovery 21Effective gross income (revenue) 22 -Operating expense 23Property taxes 24Insurance expense 25Operating income before capital expense 26Recurring capital expense 27Net operating income (NOI) 28 b Financial Information: Rent (per sq. ft.) 7.00 $1.50 $700,000.00 $50,000.00 15,000.00 8 Recoverable Expenses from Tenant (per sq. ft.) 00,000 Operating Expenses Property Taxes net, net Insurance $60,000.00 Period Input your five reasons below 29 2 30 31 4 32 5 34