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I need an Argus run completed on an income producing property. I have attached the 2 management reports, one for 09/12 and one for 01/13 which include the rent roll and expenses. Just extrapolate expenses based on the current and previous YTD numbers (I'll adjust the property taxes). Here are the assumptions:
1. Market leasing for space< 5,000 sf - 3 year term, rent is $1.70NNN with 3% annual increases
2. Market leasing for space> 5,000 sf - 5 year term, rent is $1.25NNN with 3% annual increases
3. Market leasing for space> 10,000 sf - 5 year term, rent is $.15Gross (no expense pass-throughs) NNN with 3% annual increases
4. Renewal probability - 65%
5. Tenant Improvements for new leases - $5 psf
6. Tenant Improvements for renewal leases - $2.50 psf
7. Expense Increase - 2% per year
8. Lease the vacant space over 6 months
9. Downtime between leases is 6 months
I'll need the cash flows and assumptions in Excel.
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