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A 10-story building has a Gross Building Area (GBA) of 250,000 square feet and an...

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Finance

A 10-story building has a Gross Building Area (GBA) of 250,000 square feet and an efficiency of 80%. The first floor of the building, has a rentable area of 20,000 square feet, is the building lobby that serves all tenants. The base rent for the building is $25 per square foot of rentable area. Your firm, Green Acres Development, Inc. (GADI), occupies 4500 square feet of usable area on the 10th floor (which has a rentable area of 20,000 square feet) along with three other tenants. Each of these tenants occupies 4500 square feet of usable area as well. The remaining 2,000 sq. ft. on the 10th floor is the common area for only the floor tenants.

Calculate:

  1. the Gross Leasable Area of the building (2 pt.)
  2. (ii) the buildings overall load factor (2 pt.)
  3. The specific load factor applicable to only the 10th floor tenants. (2 pt)

  1. What is GADIs rent for the year based on these calculations? [NOTE: Gross Leasable Area is the same as Rentable Area.] (4 points)

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