Question about general vacancy
So I'm looking for answers from other aquisition guys rather than the debt guys (sorry).
This may be a bit too specific, so much so that many or all of you may not have an answer for me.
When underwritting an industrial warehouse aquisition do you take a general vacancy if its only two tenants? I was thinking about this because when we do portfolio's theres always a general vacancy (obviously) but when we do one off buildings its pretty willy nilly on if theres a GV in the model or not.
So what would you guys do? 300k sqft vacant warehouse to be leased up over the course of 15 months to two tenants. Do you / would you take a market general vacancy?