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get answer 9401

For the sake of understanding your project better, I’d like for you to have a real life hands on exercise. This week- you will be researching how much it costs to lease commercial space if you were to operate your own business. This discussion question is worth 15 points and is an individual assignment. Be sure to respond to a minimum of two other classmates.

Use the website loopnet.com. At the homepage, select the lease tab. For the area enter a space use, students must determine office, retail, restaurant, or flex as a property type.

Students are to research three different commercial lease options.

Select a city, state (the leases can be in the same city and state- or it can be three different locations). Keep in mind you will be comparing all three. Only select commercials leases that have pricing.

Answer the following questions for each lease:

  • Location (city and state)
  • Which property type did you select? (office, retail, restaurant, or flex)
  • What is the square footage?
  • What is the cost for sf/yr?
  • Total cost for an annual lease?
  • What does the rate include? (utilities, building services, property expenses etc.)
  • What year was it built?
  • What’s included in the about the property section?
  • What is the center type?
  • Is there parking?
  • What are the features and amenities?
  • Who are the select tenants at this property?
  • What are the demographics and age distribution within 5 miles of the property? Both household income and age distribution.
  • Contact information (Company, names, phone number, website)

Out of the three lease options, which one did you select for your business location and why?

Is a new entrepreneur, is this attainable? Can you foresee this working for you?

What did you learn from this exercise?

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