Put a vacancy-heavy deal in front of IC on realistic lease-up rents

For Acquisition & investment teams · also REITs & asset managers

What is the fair market rent for [size] of vacant space at [address]? Give $/SF/year with the leases it is based on. Then underwrite this for our investment committee: [address] at [asking price] from the attached T-12 and rent roll, leasing up the vacancy at that market rent. What is the return and is the entry price right?

You give

The address; the size of vacant space; the T-12; the rent roll; the asking price

You get

Fair market rent, $/SF/year and per month, with the leases behind it, in the assistant

Then

Underwriting — ask for it in the same conversation once step 1 is done