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Real Estate Finance 11.431/15.426J Fall 2002 Problem Set 4 Due (end of lecture or beginning of recitation) In this assignment you are to develop a multi-year cash flow proforma projection for an office building with multiple long-term leases, using an Excel spreadsheet. (Hopefully, later in this course you will duplicate this feat using Argus software. By having developed this spreadsheet, you will understand what Argus actually does.) The office building is Rentleg Plaza, which has 30,000 net rentable square feet divided into two office suites. Suite 100 is 20,000 SF and is leased out under a 5-year lease signed 2 years ago (3 more years left on the lease) at $15.00/SF (per year). (Suppose it is the end of 2000, so the lease expires in 3 years at the end of 2003.) The other office, Suite 200, is 10,000 SF and is currently vacant. In the land where Rentleg Plaza is located, the past few years have seen the office market softened greately due to excess supply of newly-built space. As a ...