Quote:
Originally Posted by OKTX
$36 NNN is about right for downtown class A. But operating expenses are about $20-25/ft because of our insane property taxes so they are paying closer to $56-$61/ft gross.
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I do not believe you are correct. $36/SF "NNN" means base rent plus the tenants proportionate share of operating experiences (usually including property taxes, insurance, maintenance, etc.) Office leases are not usually "gross leases" (similar to renting an apartment).
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AUSTIN (City): 993,588 +3.30% - '20-'24 | AUSTIN MSA (5 counties): 2,550,637 +11.70% - '20-'24
SAN ANTONIO (City): 1,526,656 +6.41% - '20-'24 | SAN ANTONIO MSA (8 counties): 2,763,006 +8.01% - '20-'24
AUS-SAT REGION (MSAs/13 counties): 5,313,643 +9.75% - '20-'24 | *SRC: US Census*
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