An urban area that serves as the catchment area for a proposed retail center with a population density of 60 persons per acre in 1500 acres will require a sales volume of $95 per square foot of leasable area to be profitable. If the average personal consumption expenditure per person is $300 within this catchment area, what is the maximum gross leasable area that is supportable?
A. 28,500 sf
B. 165,000 sf
C. 284,211 sf
D. 265,648 sf
AnswerC. 284,211 sf (1500 x 60 x $300 / $95)
ARE 4.0 exam prep: PPP
*updated
A. 28,500 sf
B. 165,000 sf
C. 284,211 sf
D. 265,648 sf
AnswerC. 284,211 sf (1500 x 60 x $300 / $95)
ARE 4.0 exam prep: PPP
*updated
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