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9.B. - Page 26
<br /> November 21, 2014
<br /> Page 5 of 5
<br /> TABLE 4: RETAIL TO OFFICE CONVERSION
<br /> illir Daily Rates AM Peak Hour PM Peak Hour
<br /> IRetail s.f. Office s.f. Retail s.f. Office s.f. Retail s.f. Office s.f.
<br /> 1,000 2,700 1,000 400 1,000 1,900
<br /> 2,000 5,400 2,000 800 2,000 3,800
<br /> 3,000 8,000 3,000 1,300 3,000 5,700
<br /> 4,000 10,700 4,000 1,700 4,000 7,500
<br /> 5,000 13,400 5,000 2,100 5,000 9,400
<br /> 6,000 16,100 6,000 2,500 6,000 11,300
<br /> 7,000 18,700 7,000 2,900 7,000 13,200
<br /> 8,000 21,400 8,000 3,400 8,000 15,100
<br /> 9,000 24,100 9,000 3,800 9,000 17,000
<br /> 10,000 26,800 10,000 4,200 10,000 18,800
<br /> Source:Fehr&Peers,2014
<br /> Note: Retail and Office s.f. rounded to nearest hundred
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