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What is the building gross area

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A 15-story (equal size floors) office building has 10% nonrentable space, and the building lobby (151,200 square feet, rentable) occupies the first three floors. Company Alpha is interested in leasing one of the six equal sized usable areas for tenants on the sixth floor (floor total usable area = rentable square feet of the floor - common space of the floor). The sixth floor's common space is 22% of the floor's rentable square feet. The leasing broker indicated that Alpha's annual rent will be $199,500. The owner will apply load factor for the common rentable space on the sixth floor as well as the load factor for the building's lobby to calculate the rentable area for Alpha.

(a) What is the building's Gross Area?

(b) What is the annual base rent per square feet of rentable space (round 2 decimal places)?

Reference no: EM132396707

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