Chapter 13 PM PPT - Chapter 13 Office Property Learning...

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Chapter 13 Office Property
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Learning Objectives Explain importance of analyzing region for planning Relate differences of BOMAs classifications Identify key factors when choosing office space Discuss differences between minimum rent and base rent Review effectiveness of different marketing ways Discuss properly qualifying tenant’s spatial needs Explain importance of determining building standard Discuss unique maintenance requirements Identify management tasks for “intelligent buildings”
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Market Analysis Regional Analysis Considers the growing sectors of the regional economy National firms relocating to area Neighborhood Analysis Emphasizes transportation, parking and proximity to businesses and services
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Market Analysis Absorption Rate Number of SF that has historically been leased in the market area BOMA Office Classifications CLASS A – Relatively new, prime location, high occupancy rate, rental rates high, but comparative CLASS B – Older, fully renovated, prime location, high occupancy, competitive rates, a new building in a non prime area CLASS C – Older, not renovated, fairly good condition, good occupancy, rental rates are moderate to low CLASS D – at the end of it’s functional life, poor condition, low rental rates, low occupancy
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Market Analysis Site Selection – IREM Study Cost is number one concern Bus and highway accessibility Environment of the property Labor market
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Property Analysis BOMA/ANSI Standard Method for Measuring Floor Area Construction Area – New York method – outside finished surface of permanent outer building
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This note was uploaded on 10/10/2011 for the course REAL ESTAT 101 taught by Professor Green during the Spring '09 term at Irvine Valley College.

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Chapter 13 PM PPT - Chapter 13 Office Property Learning...

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