Feasibility Study

Nearly all existing owned residential is priced above the $250,000 threshold, with a majority above the $400,000 price-point. Office The outlook for the West Palm coast potency market, comprised of 6,623,841 rentable square feet of Class A, B and C office space in 151 buildings, is mildly verificatory. Supporting facts and data follow: No new commercial buildings have been constructed in past 5 years. 250,000 square feet of new office supply may dispense with in 2006 to 2007, which equals 3.7% of new supply. Vacancy rates hover at 18% having dropped slightly from 19% one year agone in Q2 2003. There is positive submersion of 2.5%. Time to lease-up is averaging 20.3 months notwithstanding is dropping. 3,000 residential units volition deliver over the next 24 months, which will have a positive impact on absorption and the demand for office space. County-wide population is reportedly increasing by 2% to 3%, which will also have a positive impact. The paucity of land in the Downtown area will gambol a role. Scripps interest in the County may play a minor positive role. These facts predict a project absorption for new office proceeds demand of 99,000 to 197,000 SF. land site specific factors impacting demand include: The State of Florida Department of wellness may require 85,000 RSF.

FINAL DRAFT October 13, 2004 6 The national governings courthouse expansion (87,000 SF currently with an supernumerary 240,000 SF) will create a demand for adjacent uses equal to 240,000 SF in or around 2007. The Federal Government onsite use equals 327,000 (240,000 + 87,000). The total demand for office product relative to this site is projected to equal 424,000 to 522,000 plus an additional 327,000 SF Federal Government Use as follows: Department of health: 85,000 RSF Federal Courthouse Adjacent Use 240,000 RSF New Demand 99,000 - 197,000 RSF SUB-TOTAL 424,000 - 522,000 RSF alive & Planned Fed Use +327,000 RSF TOTAL Public & personal Office Uses:... If you want to get a full essay, arrangement it on our website: Orderessay

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