This occupancy, together with occupancy 462 (Shell, Regional Shopping Center), allows you to individually price the shell and the tenant improvement costs for a regional shopping center (in separate sections of the report). This provides an alternative to occupancy 414 (Regional Shopping Center), which includes both the shell and tenant improvement costs.
The costs represent group averages of a typical mix of tenant finishes only (excluding major anchor occupancies). The storefronts, floor and ceiling finishes and finished electrical and plumbing are normally commensurate with the quality and type of general occupancies found within a center. Trade fixtures and equipment pertinent to individual tenants are not included.
The typical tenant mixes for Regional Shopping Centers are:
|
Retail |
47% |
All general retail and specialty occupancies |
|
Discount |
19% |
Large drug, furniture, hardware, garden, etc. |
|
Food |
8% |
Market, convenience-specialty foods, delicatessen, bakery, florist, etc. |
|
Food service |
8% |
Restaurant, lounge, cafeteria, fast food outlets, etc. |
|
Commercial |
4% |
Office, financial, medical, post office, etc. |
|
Personal services |
3% |
Laundry, barber, beauty, repair shops, health clubs, etc. |
|
Recreational |
4% |
Theater, bowling, skating, clubhouse, day care, etc. |
|
Miscellaneous |
7% |
Storage and center service areas (office, security, etc.) including non-public access ways and restrooms |
For the regional shopping center anchors, use the appropriate occupancies (e.g., 318 for department store, 319 for discount store, etc.).
For the mall concourse area, use the following mall components:
Availability of Elevators by Area for this occupancy: No
Marshall Valuation Service sections: 13 and 43
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Class |
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Quality |
A |
B |
C |
D |
H |
M |
P |
S |
W |
|
Low |
50 |
50 |
50 |
45 |
-- |
-- |
-- |
45 |
-- |
|
Average |
50 |
50 |
50 |
45 |
-- |
-- |
-- |
45 |
-- |
|
Good |
55 |
55 |
55 |
50 |
-- |
-- |
-- |
50 |
-- |
|
Excellent |
55 |
55 |
55 |
50 |
-- |
-- |
-- |
50 |
-- |
In addition to being an aid in selecting a building’s quality, the following indicates what is included in the interior space cost. Note that 100% of the HVAC costs have been included in this occupancy. If you allocated a prorated amount of the HVAC back to the shell cost, you should remove it from this interior space cost by selecting the appropriate HVAC component and entering an appropriate percentage of the total floor area (typically 50% to 70%). For example, if you included 40% of the HVAC cost in the shell, you should enter 60% for the HVAC component in this occupancy.
All Classes
|
Quality |
Interior Finish |
Lighting & Plumbing |
HVAC |
|
Average |
Adequate storefront entries, drywall, acoustic tile, vinyl composition, some carpet and trim |
Adequate lighting and plumbing, minimum service facilities |
Package AC |
|
Good |
Good display storefronts, good drywall or plaster, acoustic tile, terrazzo, carpet or vinyl tile |
Good lighting and outlets, adequate employees’ restrooms |
Warm and cool air (zoned) |
|
Excellent |
Staggered setbacks, fine display fronts, best plaster ornamental ceilings, paneling, carpet, tile or hardwood |
Special lighting, many good outlets, plumbing and restrooms |
Hot and chilled water (zoned) |