HW Quiz 2

Question 1

What does a stacking plan include?

Answer 1

It generally has tenants, expiration date, and rents.

Question 2

What is a flex building?

Answer 2

A mixed-use office/warehouse structure

Question 3

Heavy manufacturing facilities are generally special purpose properties, which can be thought of more as pieces of equipment.

Answer 3

True

Question 4

Which tenants are likely to be anchors in a strip centre?
-Walmart
-grocery store
-2,000 SF movie rental store
-dry cleaner
-local Chinese restaurant
-50,000 SF national fitness chain

Answer 4

Walmart, grocery store, 50,000 SF national fitness chain

Question 5

Average FAR of Atlanta and Ithaca: 0.89 or 4.56

Answer 5

Atlanta: 4.56
Ithaca: 0.89

Question 6

In an apartment property, what is included in Gross Square Footage but not Net Leasable Square Footage?

Answer 6

Lobbies
Mechanical rooms
Laundry rooms located outside of unit
Stairwells and elevators
Elevator waiting areas

Question 7

TRUE or FALSE: economic occupancy can exist without physical occupancy

Answer 7

TRUE

Question 8

Economic occupancy

Answer 8

refers to the space that generates rent

Question 9

Physical occupancy

Answer 9

the space that is currently physically occupied

Question 10

Shadow vacancy

Answer 10

the space a tenant pays for but does not physically occupy

Question 11

Why might a building’s economic occupancy differ from its physical occupancy?

Answer 11

A tenant may physically occupy a space without paying rent due to lease concessions or “free rent”
A tenant may be leasing space in anticipation of future expansion and has not yet moved into that space
A tenant may have vacated a property before the end of its lease and therefore continues to pay rent without occupying the space

Question 12

TRUE or FALSE Key design issues for warehouse properties are clear height for ceilings and ease of entry and exit of the property.

Answer 12

True

Question 13

Assume the lot size is 20,000 sf and there is no height limit and setback restrictions. What is the average gross square footage of each floor for a 4-floor office building with FAR of 1? Please round the number to the nearest integer.

Answer 13

5,000

Question 14

A 150,000 sf building rests on one acre and has a FAR of 6. How many more square feet can be built on the parcel?

Answer 14

111,360

1 acre = 43,560. With FAR=6, total square foot it built = 261,360.
261,360 - 150,000=111,360

Question 15

Differences between a regional mall and a strip center

Answer 15

Strip centres may be dependent on a single anchor tenant, while regional malls usually have several anchors such as department stores.
Strip centres often have out parcels, and regional malls usually do not.
Regional malls are, in general, significantly bigger than strip centres
Locations of the two are different. Shoppers normally are willing to drive a longer distance to the regional malls.

Question 16

TRUE or FALSE: A CBD office building is highrise in form, while suburban office buildings tend to be new midrise structures.

Answer 16

True

Question 17

TRUE or FALSE: Light assembly space combines warehouse, product assembly, and office space, and may be multi-tenanted.

Answer 17

True

Question 18

TRUE or FALSE: Full-service hotels include urban CBD and resort properties, which may carry the flag of high-price point operators such as Four Seasons or Mandarin, or a mid-price point operator like Marriott.

Answer 18

True