Working on the acquisition of a fully vacant office building that will be chopped up and subdivided to multiple spaces and leased up over 3-4 years. Wondering if anyone had any good data about variable expenses, particularly office and what might be reasobable to expect of Utilities or other items that change substantially.
In appraisal I used to use 50% for utilities and janitorial, but I have no support for that assumption.
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