Help with excel test for brokerage (Retail)

Hi all,

New guy both to the industry and here. I have been working in real estate for the past year trying to soak up as much knowledge as I can (just graduated from school last year). I have an excel test coming up for an analyst job for a retail brokerage team (good market, well known company). Unfortunately, I am not very familiar with retail as I have never worked in on the asset class.

I have been told that I will be given a 3 tenant rent roll along with year end historical expense statements. I will be tasked with making a:
- in place expense summary
-stabilized expense summary

Could anyone help me with what this would look like for retail? Tips or examples would be much appreciated as I really want to study to make sure I can pass this. Thank you!

Thank you Jiggy95 for the help on my first question!

Comments (7)

Sep 6, 2019

Do you have any experience in Argus?

Sep 6, 2019

Somewhat. I took a course on it in school to make myself more competitive in the job market. However I currently work in multifamily so we predominantly use excel. The test will definitely be in excel (they have an argus test as well, but they told me they could teach argus to me more thoroughly and were only going to give an excel assessment). But thank you for the tips! I am used to breaking down T12s for multifamily, but just was wondering what nuances there were for retail. That does give me a better idea. Thank you for the response!

    • 1
Sep 6, 2019

I'd say I specialize in Multi as well, Retail is pretty nuanced based on the type of retail your dealing with. But if you're already exposed to basic P&L mapping you'll do fine. Just don't touch the mouse when you are constructing the model, people get axed for doing that sometimes but just ask a bunch of questions.

    • 1
Sep 6, 2019
Jiggy95:

Just don't touch the mouse when you are constructing the model, people get axed for doing that sometimes

Why? I understand not using a mouse is much more efficient, but I think people really go overboard for the importance of an extreme level of excel skills.

Most Helpful
Sep 6, 2019

Just know how to break down a Cash Flow Report

Rental Revenue
-Potential Base Rent
-Absorption/Turnover Vacancy
-Scheduled Base Rent
Other Income

Vacancy & Credit Loss

Operating Expenses
-Parking
-R&M
-Cleaning
-Signage
-Taxes
Mgmt fees

NOI

Leasing Costs
- Tenant Improvements
-Leasing Commisions

Cap Ex

Cash debt servive
Cash Distributions

    • 2
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Sep 6, 2019

Thank you again everyone for the help. As a new guy to a lot of this terminology and to retail I really appreciate it.

    • 1
Sep 8, 2019
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