Attachment 1 Appendix A. FY2027 FAR Contractor Tools v6.82.xlsx

XLSX spreadsheet 281 KB Posted

Attached to
FY2027 Fair Annual Rent Assessment, North Dakota
Solicitation number
EQ8PT-24-0007
Issued by

About this file

This document is a combined synopsis and solicitation for a federal contract opportunity. The General Services Administration, Public Buildings Service, Region 8 is seeking an appraiser to estimate the Fair Annual Rent on three federally controlled buildings located in North Dakota. This is a Women Owned Small Business set aside, with a NAICS code of 531320 and a $8M size standard. The required deliverables include a quote, a copy of the appraiser's Certified General Appraiser License, and the completed Representations and Certifications form. Proposals are due by August 26, 2024 and the contract is expected to be completed within 60 calendar days of award. The Statement of Work and other relevant attachments are provided, including the FY2027 FAR Contractor Tools and Instructions, and the FY2027 FAR Appraisal Report Template.

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Recent Changes

RECENT & PROPOSED CHANGES

RECENT CHANGES
Contractors Summary 10YR
Hidden starting for FY18
Office Rent 10YR
Hidden starting for FY18
Warehouse Rent 10YR
Hidden starting for FY18
Contractors Summary 5YR
This is now the only Contractors Summary tab, most of the data entry took place here and it was easier to modify this tab versus having to update all the data links throughout the workbook.
Removed 5YR from sheet name and workbook header
Section 4 header changed from "Rental Rate Conclusions (5 year level term)" to "Levelized Rate Conclusions"
Calculations for Fully Serviced Rent & Unserviced Rent were shuffled. Previous versions pulled the Full Serviced Rent and Total Services from the adjustment grid, then calculated Unserviced rent as the difference between the two. NOW the workbook pulls Unserviced Rent from the Levelization workbook, Total Services from the Adjustment Grid and then sums them for the Full Serviced Rent. This was carried out through the conversion to Billing R/U and the application of trending.
Office Rent 5YR
Renamed tab Office Rent
Removed "5 Year Term" from worksheet header
Lease Term changed from 5-Year term to 10-Year term
Lease Term comment changed to reflect 10 years
Rent Levelization (Row 48) Hidden
Removed VBA Macro that was causing issues in Office 2010
Warehouse Rent 5YR
Renamed tab Warehouse Rent
Removed "5 Year Term" from worksheet header
Lease Term changed from 5-Year term to 10-Year Term
Lease Term comment changed to reflect 10 years
Rent Levelization (Row 54) Hidden
Removed VBA Macro that was causing issues in Office 2010
Rent Levelization
New worksheet that automatically levels rent for Office & Warehouse space.
Section 1 - User selects "trend type" from drop down menu for Office and/or Warehouse. Four options are available; Constant $ per RSF, Variable $ per RSF, Constant % per Year, Variable % per Year
The sheet highlights (yellow) where the user can enter the required numbers. This allows them to either have one constant number applied to each year or they can customize it and enter a different number per year.
Section 2 - Automatically pulls the unserviced rent from the adjustment grid and calculates the trending based on the selection in Section 1.
Section 3 - Calculates the average rate over the 10 year period. This number is then sent to the Contractors Summary tab.
PROPOSED CHANGES
Warehouse Rent
Include comments for Market Conditions, Lease Concessions, Fixed Expenses from Office rent tab
Remove lease conditions adjustment
Unserviced Rate comment doesn't match Office Rent

Proposed Changes

REQUESTED FIXS
Office Rent Tab
Worksheet

Section 1

Section 2

Section 3
Implemented 6.45AppaluccioLease Concessions Comment: "For NNN Leases". Rent concessions are for all leases and not just NNN leases. I think this was meant to be part of the comment for Fixed Expenses below. However, that comment would not be entirely correct for Fixed Expenses either because the lease could something other than NNN and still require either a real estate tax and/or insurance adjustment.
Appaluccio1/18/18Adjusted Rental Rate should be Adjusted Fully Serviced Rental Rate
Implemented 6.77Appaluccio1/18/18Reintroduce Real Estate Taxes & Insur. line item
Implemented 6.77Saiidifar3/13/18Include specific areas to enter date of lease & lease type (Full Service, Net)
Implemented 6.77Saiidifar3/9/18Remove "initial" from comment in J18
Section 4
Appaluccio1/18/18If no adjustment is made in section 4, then Adjusted Gross Rent should change to Adjusted Rental Rate
Section 5

Section 6

Section 7

Contractors Summary Tab
Worksheet
Section 1
Implemented 6.77Appaluccio1/18/18Include error check formula to validate reversed RSFand USF numbers
Ulman1/6/21Remove / Round decimals from RSF and USF numbers
Section 2
Section 3
Implemented 6.56Wochna'Since we are requiring that the appraiser provide a rate per RSF, we need to break the link between the Market method of measurement cell and the labeling on rate conclusions statement.
ReedProvide ability to utilize various trend factors for years. Option to use X for all 3 or use X,Y,Z for each
Implemented 6.77Appaluccio1/18/18Remove entry of Billing R/U and return to calculation based on RSF/USF entered by appraiser (Solution: Implement error check on RSF/USF entries in section 1)
Implemented 6.77Saiidifar3/9/18Trending methodology should default to Unserviced
Implemented 6.77Saiidifar3/9/18Add comments to Billing & Tenanted RU that this data comes from SCR
Section 4
FloresNew calculation for trending calculating change/day X days between dates - coupdays, coupdaysbs
New Tab
Reedcreate new tab with explanations on formulas and functionality of sheet
Warehouse Rent Tab
Worksheet

Section 1

Section 2

Section 3
Implemented 6.75Reedinclude comments for Market Conditions, Lease Concessions, Fixed Expenses from Office rent tab (Fixed Expenses adjustment removed entirely)
Implemented 6.77Reedremove lease conditions adjustment (Solution: Changed label to Lease Concessions)
Implemented 6.75ReedUnserviced Rate comment doesn't match Office Rent (Comment removed)
Implemented 6.77Saiidifar3/13/18Change Label from Lease Conditions to Lease Concessions
Implemented 6.77Saiidifar3/13/18Change Label from Concessions to Fixed Expenses
Section 4
Section 5
Implemented 6.77Appaluccio1/18/18Floor Height should be Ceiling Height. No one knows what floor height is and there is no adjustment for ceiling height, which is one of the most common warehouse adjustments.
Section 6

Section 7

Workbook
Implemented 6.69ReedFont - Times New Roman or Arial
Rent Levelization
Worksheet
Reed3/6/18Separate Office and Warehouse into separate tabs. Layout is conducive for buildings that have both rate types and most buildings do not. When both rate types are present, the tab is duplicated in the template (once for the office discussion and again in warehouse).

Change History

VersionTabSectionChange
1.00 - 2/12/2007
Workbook
All Sheets
Deleted grid lines in all sheets
Allowed users to select locked cells so they can select and highlight to copy and paste
Change History Tab
Worksheet
Created
1.50 - 2/20/2007
Workbook
All Sheets
Changed comp numbers from ABC to 1,2,3 on all sheets. Parking 1-6.
2.00 - 3/14/2007
Contractors Summary Tab
Worksheet
Changed Rentable and usable to be input fields, with R/U as the result, rounding to 9 places, changed related comments
2.50 - 3/15/2007
Contractors Summary Tab
Worksheet
Changed all trend calculations to account for partial year time periods. 'Rents, services and parking calculate from current appraisal date to next fiscal year, then to effective fiscal year, then to future fiscal year.
Added monthly rates for parking 'Parking now indicates monthly and annual rates, with monthly being the working rate.
Added a line for indication of Market Tenant Improvements
Added a column in rates for AS OF CURRENT FY; now has Current date, Current FY, Effective minus 1, Effective, and Effective plus 1.
GSA Summary Tab
Worksheet
Changed all trend calculations to account for partial year time periods. 'Rents, services and parking calculate from current appraisal date to next fiscal year, then to effective fiscal year, then to future fiscal year.
Added monthly rates for parking 'Parking now indicates monthly and annual rates, with monthly being the working rate.
Added a line for indication of Market Tenant Improvements
Office Rent Tab
Worksheet
Changed some verbiage in rent grid adjustments, subject column, etc.
3.00 - 3/19/2007
Warehouse Rent Tab
WorksheetShaded E41 on Warehouse sheet.
3.50 - 3/21/2007
Workbook
All Sheets
Added section numbers
3.60 - 3/27/2007
GSA Summary Tab
Section 4
Added three additional columns on GSA Summary to show Effective FY plus 1 Yr. (had been left out)
4.00 - 4/24/2007
Contractors Summary Tab
Worksheet
Added "per sf" on CAF section
Changed Building shell description
Added PGI to Rental Rate Conclusions
5.00 - 5/29/2007
Contractors Summary Tab
Section 4
Changed titles of FY on bottom of Contractor summary from "less 1 year". etc. to the named fiscal year.
Corrected calculations throughout section 4 of Contactor's summary sheet.
Shaded cells on Contractor Summary page for Market typical TI
Added drop down box for Rentable/Usable/Gross
Tied Rentable/Usable/Gross to rent/income descriptions on grids and summary
Rounded results of rent escalations, so that the PGI would be the actual result of the rent times the area (not using the carried out digits)
Office Rent Tab
Worksheet
Changed adjustment description from "Lease Date/Time Adjustment" to Market Conditions
Added building number in Subject space on Rent Grids sheets
Changed some wording, added comments about levelizing.
Warehouse Rent Tab
Worksheet
Changed adjustment elements on the Warehouse grid
Parking Rents Tab
Worksheet
Unlocked annual rent cell so appraiser can use a different annual rate if not 12x monthly rate.
5.30 - 12/4/2008
Workbook
All Sheets
Many changes, too numerous to list, were incorporated after the Appraiser Conference.
6.10 - 3/4/2010
GSA Summary Tab
Worksheet
Removed
Contractors Summary Tab
Section 1
Removed General Use/Office Space Market RSF Cell
Removed Warehouse Space Market RSF Cell
Added cells for Inside Reserved and Outside Reserved parking spaces
Section 3
Removed Market R/U Ratio Cells
Section 4
Removed General Use, Warehouse & Parking Gross Potential Income Rows
Added Rows to reflect Inside Reserved and Outside Reserved Parking rates
Office Rent Tab
Worksheet
Adjusted layout to reflect only 5 comps in a single landscape page
Section 5
Changed Building Utility cell to reflect GSA R/U not Market R/U
Section 7
Adjusted layout of Section 7
Warehouse Rent Tab
Worksheet
Adjusted layout to reflect only 5 comps in a single landscape page
Section 5
Changed Building Composition cell to reflect GSA R/U not Market R/U
Section 7
Adjusted layout of Section 7
Parking Rents Tab
Section 1
Added row to account for any premium associated with RESERVED parking spaces
Added row to distinguish monthly rental rates for Unreserved/Reserved parking spaces
Section 2
Added row to account for any premium associated with RESERVED parking spaces
Added row to distinguish monthly rental rates for Unreserved/Reserved parking spaces
Section 3
Adjusted layout to reflect Reserved/Unreserved parking rates
Removed total annual calculation cells
6.20 - 3/17/2010
Parking Rents Tab
Section 3
Reformatted to incorporate Annual calculations for all parking rates
6.33 - 4/3/2012
Warehouse Rent Tab
Section 5
Reformatted Building Composition (R/U Adjustment) to accept 2 decimal places
Contractors Summary Tab
Section 1
Reformatted Building Area fields to accept 2 decimal places
6.40 - 4/3/2012
Contractors Summary Tab
Section 3
Added functionality to allow Contract Appraiser to determine trending methodology. Selection of methodology determines what rates are trended and what rates are calculated.
Section 4
Updated trending formulas to follow new trending methodology functionality. Services are always trended. If Full Service is selected, Full Service rate is trended and Unserviced rate is calculated as the difference between FS and Services. If Unserviced is selected, Unserviced rate is trended and Full Service rate is calculated as the sum of Unserviced and Services.
Office Rent Tab
Section 4
Inserted comment for Administrative Expenses: Administrative expenses including building management fees.
Warehouse Rent Tab
Section 4
Inserted comment for Administrative Expenses: Administrative expenses including building management fees.
6.41 - 4/3/2012
Contractors Summary Tab
Section 4
Parking Rates as of Current Date are now tied to Annual rates, not Monthly
6.42 - 4/5/2012
Contractors Summary Tab
Section 4
Services are now broken down into individual components for General Use and Warehouse. Total is no longer trended separately, new Total services is calculated as the sum of the individual components.
Worksheet
Inserted new far left column to correct formatting while printing
6.43 - 4/5/2012
Contractors Summary Tab
Section 4
Parking labels now reflect Annual Amount
6.44 - 5/9/2012
Contractors Summary Tab
Worksheet
Version # in footer is now a formula linked to the Fiscal Year (Cell D3)
Section 4
Individual expense formulas updated to round to two decimals after trending. Solves issue of using manual sum calculation not equaling total (summed via excel)
All Calculations in this section now round components and results of calculations
Office Rent Tab
Section 4
VBA rounds inputs to 2 decimal places. Code specifies 3 for it to round correctly (.905 = .91, not .905=.90)
Section 7
VBA rounds inputs to 2 decimal places. Code specifies 3 for it to round correctly (.905 = .91, not .905=.90)
Warehouse Rent Tab
Section 4
VBA rounds inputs to 2 decimal places. Code specifies 3 for it to round correctly (.905 = .91, not .905=.90)
Section 7
VBA rounds inputs to 2 decimal places. Code specifies 3 for it to round correctly (.905 = .91, not .905=.90)
Parking Rents Tab
Section 1
Flipped Unreserved & Reserved to match ADS
Section 2
Flipped Unreserved & Reserved to match ADS
6.45 - 4/24/2013
Contractors Summary Tab
Section 1
Fixed comment for Other Field, previously blank, now "Please Describe"
Update default FY to 2016
ADS Data Entry Tab
Worksheet
Created
6.46 - 4/24/2013
Contractors Summary Tab
Section 1
Changed Date of Inspection to 6/13/13
Section 2
Changed Expiration Date to 7/17/14 & 7/10/14
Office Rent Tab
Section 3
Fixed Expense Comment - corrected formatting
Lease Concessions Comment - Changed from "For NNN Leases" to "Examples: Free Rent, Moving Allowance, Signage, etc.)
6.47 - 4/24/2013
Office Rent Tab
Section 4
Added new line for Adjusted Gross Rent
Reformatted Total Services Furnished line to incorporate 2 lines
Section 5
Updated Area Rented Field Comment to reflect actual cell reference
Updated Building Utility Field Comment to reflect actual cell reference
Warehouse Rent Tab
Section 4
Added new line for Adjusted Gross Rent
Reformatted Total Services Furnished line to incorporate 2 lines
Section 5
Added Area Rented Field Comment to reflect actual cell reference
Added Building Utility Field Comment to reflect actual cell reference
6.48 - 4/24/2013
Parking Rents Tab
Section 1
Removed Reserved Premium Adjustment Row
Removed Adjusted Reserved Inside (Structured) Parking Rental Rate (Monthly) row
Section 2
Removed Reserved Premium Adjustment Row
Removed Adjusted Reserved Outside (Surface) Parking Rental Rate (Monthly) row
Section 3
Corrected Section Header - Section 3
Removed Per RESERVED Space row
Reorganized and formatted section
Contractors Summary Tab
Section 1
Color filled Other field
Reformatted Parking Area Fields
Section 2
Reformatted Appraiser Two fields
Section 4
Removed Annual Parking (Inside, Per RESERVED Space) Row
Removed Annual Parking (Outside, Per RESERVED Space) Row
Changed Annual Parking (Inside, Per Space) Label
Changed Annual Parking (Outside, Per Space) Label
6.49 - 4/24/2013
Contractors Summary Tab
Section 3
Reformatted Common Area Considerations area
Added GSA Building Facility R/U Ratio field
Reformatted Typical Lease Size comment box
Added notes about Building & Building Facility R/U Ratio
Added note about Services Trend Factors being applied to each component before arriving at the Total Services Rate
Updated Trend Factor note from "As Is Date" to "Inspection Date", for consistency across form
Added Comment to select Fully Serviced Rent or Unserviced Rent (General Use/Office & Warehouse)
Section 4
Hid individual expense component trending (Office & Warehouse)
Bolded Parking Rates
ADS Data Entry Tab
Appraisal Information
Formatted Fields populated by Contractor's Tools
FY
Added new title block
Formatted column widths - 115 pixels, Boarder columns - 19 pixels
Formatted row widths - 35 pixels, Boarder rows - 19 pixels
Removed Usable rate calculations
Moved Rentable Rates Column
Merged Rate Labels
Corrected Parking references
Reformatted Reserved parking rates as Grey
Formatted Gross Potential Income as N/A, Grey
Formatted TI Residual Rate as Grey
Added Version Number
FY-1
Added new title block
Formatted column widths - 115 pixels, Border columns - 19 pixels
Formatted row widths - 35 pixels, Border rows - 19 pixels
Removed Usable rate calculations
Moved Rentable Rates Column
Merged Rate Labels
Corrected Parking references
Reformatted Reserved parking rates as Grey
Formatted Gross Potential Income as N/A, Grey
Formatted TI Residual Rate as Grey
Added Version Number
FY-2
Added new title block
Formatted column widths - 115 pixels, Border columns - 19 pixels
Formatted row widths - 35 pixels, Border rows - 19 pixels
Removed Usable rate calculations
Moved Rentable Rates Column
Merged Rate Labels
Corrected Parking references
Reformatted Reserved parking rates as Grey
Formatted Gross Potential Income as N/A, Grey
Formatted TI Residual Rate as Grey
Added Version Number
6.50 - 4/30/2013
Office Rent Tab
Section 3
Included Rounding function for Adjusted Rental Rate (Market Rate)
Section 4
Included Rounding function for Total Services Furnished (Market Rate)
Included Rounding function for Adjustment total
Included Rounding function for Adjusted Gross Rent
Section 5
Included Rounding function for Total Other Adjustments
Section 6
Included Rounding function for Net Adjustments
Included Rounding function for Indicated Annual Rent
Section 7
Included Rounding function and Changed Highlighting for Selected Annual Rent, Per X SF, Unserviced for the Subject
Warehouse Rent Tab
Section 3
Included Rounding function for Adjusted Rental Rate (Market Rate)
Section 4
Included Rounding function for Total Services Furnished (Market Rate)
Included Rounding function for Adjustment total
Fixed Border for Adjustment total
Included Rounding function for Adjusted Gross Rent
Section 5
Included Rounding function for Total Other Adjustments
Section 6
Included Rounding function for Net Adjustments
Included Rounding function for Indicated Annual Rent
Fixed Border for Indicated Annual Rent
Section 7
Included Rounding function and Changed Highlighting for Selected Annual Rent, Per X SF, Unserviced for the Subject
Parking Rents Tab
Section 1
Included Rounding function for Adjusted INSIDE (Structured) Parking Rental Rate (Monthly)
Section 2
Included Rounding function for Adjusted OUTSIDE (Surface) Parking Rental Rate (Monthly)
Section 3
Included Rounding function for Annual Rent
Contractors Summary Tab
Section 3
Reformatted R/U Factors to 9 decimals
Updated Building Facility R/U from "calculation that takes into account a building's proportional" to "calculation that allocates a building's proportional"
Section 4
Added absolute cell referencing to FY Unserviced Rent
6.51 - 5/1/2013
Workbook
All Sheets
Enabled protection of structure & windows - Password: gsaFAR16
Parking Rents Tab
Worksheet
Locked & Hid white & blue shaded cells
Warehouse Rent Tab
Worksheet
Locked & Hid white & blue shaded cells
Section 1
unshaded Appraisal Subject Property Location - consistent with Office Rent Tab
Section 4
Resized Security comment box
Removed +/-ADJ Comment for Comp 4
Office Rent Tab
Worksheet
Locked & Hid white & blue shaded cells
Section 7
Removed Annual Rate comment "per Rentable SF"
Contractors Summary Tab
Worksheet
Locked & Hid white & blue shaded cells - except trended FS, Shell, Parking
ADS Data Entry Tab
Worksheet
All cells Locked & Hidden
FY
Corrected border for GU R/U Factor
FY-1
Corrected border for GU R/U Factor
FY-2
Corrected border for GU R/U Factor
6.52 - 5/23/2013
Contractors Summary Tab
Worksheet
Unmerged cells N5-P5
Removed Column A
Allowed selection of locked cells - allows user to copy workbook into report template
Section 1
Updated border on For Fiscal Year cell
Section 3
Removed GSA Building R/U Ratio fields
Removed GSA Building R/U Ratio note
Updated GSA Building Facility R/U Ratio note "This represents the ratio that the concluded rates in your report will be billed against."
Changed Building Facility R/U Ratio to Building R/U (Billing)
Section 4
Unhid Individual expense components (Office & Warehouse)
Office Rent Tab
Section 5
Changed cell reference for Building R/U to Building R/U (Billing) on Contractor's Summary Tab and TRUNCATED to 3 decimal places
Removed Building R/U Comment
Unlocked Building R/U Cell
Removed Area Rented Field Comment
Warehouse Rent Tab
Section 5
Changed cell reference for Building R/U to Building R/U (Billing) on Contractor's Summary Tab and TRUNCATED to 3 decimal places
Removed Building R/U Comment
Unlocked Building R/U Cell
Removed Area Rented Field Comment
Removed Building Composition Comment
Parking Rents Tab
Section 3
Removed " ' " from Adjusted Rates title
Proposed Changes Tab
Worksheet
Added
ADS Data Entry Tab
Worksheet
Hidden for FY16, implementation for FY17
6.53 - 5/23/2013
Contractors Summary Tab
Section 3
Remove note "Services Trend Factors are applied to each component before arriving at the Total Services rate."
Center height aligned GSA Building R/U Note
Section 4
Remove individual line item trending
Changed Total Services to being trended
Updated lower border on F36:I36
Updated border on Line 39, 43, 45,
Formatted row widths - 21 pixels, rows 38,39,40, 42,43,44,45,46
6.54 - 3/26/2014
Contractors Summary Tab
Worksheet
Changed Row Height to 107 - Row 25
Inserted New Row 34
Changed Column Width to 168 - Column E
Section 3
Moved Cells F27 - I31 up one row to make room for new field
Added GSA Tenanted Floor R/U Field
Added ** GSA Tenanted Floor R/U Ratio: This ratio only considers the typical tenanted floors in the subject. It typically removes basement, mechanical and penthouse floors from impacting the R/U ratio. Explanation
Update instructions for Trending Method: Choose between Fully Serviced Rent or Unserviced Rent. Total Services are always trended by the provided factor. Selection determines which rate is trended by the provided factor. The untrended rate is calculated based on your selection and Total Services.
Changed alignment to Center - Cell B25
Changed Row Height to 107 - Row 25
Updated definition of GSA Building R/U (Billing): The result of a calculation that includes all areas of the building and a portion of any facility common area. This represents the ratio that is used to adjust the concluded rates in the report to GSA's Billing System.
Section 4
Inserted Row 34
Moved row headings from Column E to Column D to make room for Appraised Annual Rate column
Created column for Appraised Annual Rate
Added Fill to Appraisal Annual Rate column
Added title to F34 - Appraised Annual Rate Converted to GSA Billing R/U Basis
Added Fill Appraised Annual Rate Converted to GSA Billing R/U Basis columns F34 to I47
Added formulas to reference selected rates on Office & Warehouse Rent tabs - Fully Serviced and Total Services are pulled.
Added formula to calculate Unserviced rent for Office & Warehouse rates
Added formulas to reference selected parking rates
Updated formula F39 to reference Office Rent Tab rate that has been adjusted for billing RU
Updated formula F43 to reference Warehouse Rent Tab rate that has been adjusted for billing RU
Updated formula F46 to reference E46
Updated formula F47 to reference E47
Office Rent Tab
Section 5
Changed Building Utility field Label to note the Tenanted Floor R/U, Original: Building Utility (R/U Factor, efficiency) to Building Utility (Tenanted Floor R/U Ratio)
Changed Building Utility field to reference new Tenanted Floor R/U on contractors summary, removed truncation to 3 decimals
Section 8
New section to calculate billing r/u adjustment
New field: Adjusted Annual Rate, Per SF, Fully Serviced (Except Security) For the Subject Property
New field: Adjusted Annual Rate, Per SF, Unserviced For the Subject Property
Warehouse Rent Tab
Section 5
Changed Building Composition field Label to note the Tenanted Floor R/U, Original: Building Composition (R/U adjustments) to Building Utility (Tenanted Floor R/U Ratio)
Changed Building Composition field to reference new Tenanted Floor R/U on contractors summary, removed truncation to 3 decimals
Section 8
New section to calculate billing r/u adjustment
New field: Adjusted Annual Rate, Per SF, Fully Serviced (Except Security) For the Subject Property
New field: Adjusted Annual Rate, Per SF, Unserviced For the Subject Property
6.55 - 3/27/2014
Contractors Summary Tab
Worksheet
Changed Row Height to 100 - Row 25
Changed Column Width to 165 - Column E
Ran Spell-check
Section 3
Changed font size to 9 - Cell B25
Changed Row Height to 100 - Row 25
Updated Definition of GSA Tenanted Floor R/U Ratio: This ratio only considers the typical tenanted floors in the subject. It typically removes basement, mechanical and penthouse floors from impacting the R/U ratio. This is the ratio that is used when making adjustments to the comparables.
Section 4
Changed formula E41 to reference Unserviced Rent from Office Rent Tab
Changed formula E45 to reference Unserviced Rent from Warehouse Rent Tab
Moved Comment from F35 to E35
Updated formula F39 to calculate adjusted annual rate
Updated formula F40 to reference E40
Updated formula F43 to calculate adjusted annual rate
Updated formula F44 to reference E44
Changed alignment to Center - Cell E38 to I47
Office Rent Tab
Worksheet
Ran Spell-check
Changed Background Color (Blue) to match workbook
Section 8
Removed Section 8 - This calculation now takes place on Contractors Summary
Warehouse Rent Tab
Worksheet
Ran Spell-check
Section 5
Added comment to Building Utility field Label - Provide R/U factors for comps and adjust to subject for differences in building efficiency, if appropriate.
Section 8
Removed Section 8 - This calculation now takes place on Contractors Summary
Parking Rents Tab
Worksheet
Ran Spell-check
Changed Background Color (Blue) to match workbook
6.56 - 4/11/2014
Contractors Summary Tab
Section 1
Changed inspection date to 10/1/2013
Section 3
Removed "GSA" from Tenanted Floor R/U Ratio label and definition
Removed "Building" and "(Billing)" from GSA Billing R/U Ratio label and definition
Changed Tenanted Floor R/U Ratio definition to match verbiage in instructions: ORIGINAL - This ratio only considers the typical tenanted floors in the subject. It typically removes basement, mechanical and penthouse floors from impacting the R/U ratio. This is the ratio that is used when making adjustments to the comparables.
Changed GSA Billing R/U Ratio definition to match verbiage in instructions: ORIGINAL - The result of a calculation that includes all areas of the building and a portion of any facility common area. This represents the ratio that is used to adjust the concluded rates in the report to GSA's Billing System.
Removed from Market Method of Measurement comment "This is the measurement used to report your rates on the adjustment grids, and is the measurement used to report your rate conclusions."
Section 4
Corrected formulas in Cells F39 & F43, Formulas now divide Tenanted Floor RU by Billing RU
Removed reference to the market method of measurement for GU/Office and Warehouse rate titles
Office Rent Tab
Section 3
Removed reference to the market method of measurement (Contractors Summary) for the title
Section 4
Removed reference to the market method of measurement (Contractors Summary) for the title
Section 7
Removed reference to the market method of measurement (Contractors Summary) for the title
Warehouse Rent Tab
Section 3
Removed reference to the market method of measurement (Contractors Summary) for the title
Section 4
Removed reference to the market method of measurement (Contractors Summary) for the title
Section 7
Removed reference to the market method of measurement (Contractors Summary) for the title
6.57
Contractors Summary Tab
Worksheet
Converted all cells to Arial Font
Section 1
Replaced ":" with a space " ", after Building Number, Building Name, Address, City and State/Zip, Right Aligned those label cells
Replaced ":" with a space " ", after building area SF cells
Removed ":" on parking area labels
Inserted space after "Other"
Section 2
Right aligned cell labels
Inserted space after each label
Section 3
Removed "Market Method of Measurement" Drop down Menus
Removed "Market Method of Measurement" data validation list N23, N24, N25 (Per Usable SF, Per Rentable SF, Per Gross SF)
Merged F25 with F26 to make additional room for R/U definitions
Office Rent Tab
Worksheet
Corrected rounding macro to reference concluded rate (M54)
Added "Range.NumberFormat = "_($* #,##0.00_);_($* (#,##0.00);_($* ""-""??_);_(@_)"" to Sub to format Expense Components as Accounting
Warehouse Rent Tab
Worksheet
Corrected rounding macro to reference concluded rate (M60)
Added "Range.NumberFormat = "_($* #,##0.00_);_($* (#,##0.00);_($* ""-""??_);_(@_)"" to Sub to format Expense Components as Accounting
Section 3
Concessions (Row 25) merged appropriate cells together
Optional Checklist
Worksheet
Converted all cells to Arial Font
Deleted Row 1
Deleted Column A
Changed Background Color (Blue) to match workbook
Formatted Row height and column width to match workbook standards
Updated borders to reflect workbook format
Updated labels to reflect workbook verbiage
Removed FY comment "Enter the fiscal year (FY) for which this rent analysis is intended. Data in this cell populates related Fiscal Year fields. Enter four digit year only, no text."
Removed comments referencing data entry (cells are all linked to Contractors Summary)
Removed "review" from "This review checklist is provided..."
Removed from Instructions "In Section 7, or on a separate sheet, the review appraiser should address any deficiencies found during the review, discuss any other issues relevant to the analysis or the report, and identify the steps necessary to correct the report."
Removed from Instructions "It is not a substitute for the reviewer's own analysis, judgment, and experience."
Section 1
1c - Updated name of Appraiser's Data Summary to Contractor's Data Summary and Conclusions
1e - Updated name of Appraiser's Data Summary to Contractor's Data Summary and Conclusions
Section 3
3e - Updated terminology to R/U Ratios
Section 4
4b - added "stated in terms of rentable square feet"
4d - added "stated in terms of rentable square feet"
4i - Updated terminology to subject's Tenanted Floor R/U Ratios
4i - Updated terminology for Building Utility adjustment
4n - Updated description that rental rate is based on rentable square feet, not market method of measurement
Section 5
5h - Updated reference to contractor's data summary and conclusions sheet
Section 7
7d - REMOVED - 'An electronic copy (e-mail or disk in PDF format) of the final report has been received.
7e - REMOVED - 'The data presented appear to be complete and adequate for the analysis at hand; appropriate methodology and appraisal techniques are employed, and are properly applied, resulting in opinions and conclusions that are appropriate, reasonable, and well supported.
7f - REMOVED - 'The report includes all information necessary to enable a reader to reasonably understand the opinions expressed in the analysis; the opinions expressed appear reasonable and realistically reflect the subject's position in its market, and I recommend that the FAR values stated be used as the basis for GSA rental decisions.
6.58 - 6/30/2014
Contractors Summary 5yr
Section 4
Changed Unserviced Rent (E41 & E45) from a reference to the rent grid to a calculation
Changed Unserviced Rent (F41 & F45) from a conversion calculation (Tenanted RU - Billing RU) to calculation of the difference between FS and Services
Renamed to Contractors Summary 5yr
Duplicated for Contractors Summary 10yr
Contractors Summary 10yr
Section 4
Renamed to Rental Rate Conclusions (10-yr Level Term)
Section 5
Duplication of Section 4
Renamed to Rental Rate Conclusions (10-yr Term)
Formulas Updated for correct references on Office Rent 10yr
Office Rent 5yr
Worksheet
VBA Macro error corrected - Removed line attempting to format Services as Accounting, not Currency
Renamed to Office Rent 5yr
Resized Area Rented Comment box
duplicated for Office Rent 10yr
Office Rent 10yr
Worksheet
Updated VBA Macro to point to new indicated annual rates (M57&M58)
Section 5
Changed Lease Term to 10 yrs.
Updated Lease Term comment to reflect 10 year term
Moved Rent Levelization adjustment to bottom of section
Added Row 50 - Total Other Adjustments, Less Rent Levelization
Section 6
Added Row 54 - Net Adjustments, Less Rent Levelization
Added Row 55 - Indicated Annual Rate, Less Rent Levelization
Section 7
Added Row 58 for unlevelized/going-in rates
Duplicated Unserviced Rent (V57) comment for going-in unserviced rent (V58)
Warehouse Rent 5yr
Worksheet
VBA Macro error corrected - Removed line attempting to format Services as Accounting, not Currency
Renamed to Warehouse Rent 5yr
Duplicated for Warehouse Rent 10yr
6.59 - 7/3/2014
Contractors Summary 5yr
Section 1
Version 6.59
Unmerged Other Date (C12:E12), to make 2 separate columns similar to Date of Inspection and Projected FY
Contractors Summary 10yr
Section 1
Version 6.59
Changed cell format to general and added references to Contractors Summary 5yr cells
Unmerged Other Date (C12:E12), to make 2 separate columns similar to Date of Inspection and Projected FY
Section 2
Changed cell format to general and added references to Contractors Summary 5yr cells
Office Rent 10yr
Option 1
Section 5
Changed Label to Total Other Adjustments Except Levelization
Section 6
Changed section to contain entire Starting Rate conclusion
Changed label to Indicated Annual Starting Rate from Indicated Annual Rate
Moved Selected Annual Rate line (fully serviced and unserviced) (Row 58) to this section
Section 7
Changed section to contain entire levelized Rate conclusion
Changed label to Indicated Levelized Annual Rate from Indicated Annual Rate, Levelized
Moved Selected Annual Rate line (fully serviced and unserviced) (Row 57) to this section
Option 2
Section 6
Changed section to contain entire Starting Rate conclusion
Changed label to Indicated Annual Starting Rate from Indicated Annual Rate
Moved Selected Annual Rate line (fully serviced and unserviced) (Row 58) to this section
Section 5
Moved Rent Levelization adjustment to Section7
Section 7
Changed section to contain entire levelized Rate conclusion
Changed label to Indicated Levelized Annual Rate from Indicated Annual Rate, Levelized
Moved Selected Annual Rate line (fully serviced and unserviced) (Row 57) to this section
6.60 - 7/3/2014
Workbook
All Sheets
Prepared for feedback from regions. Using Option 1 for Office Rent 10 Yr.
6.61 - 7/9/2014
Contractors Summary 5yr
Worksheet
Updated Version to 6.61
Contractors Summary 10yr
Worksheet
Updated Version to 6.61
Section 1
Changed Other Effective Date field (C12:E12) to reference on Contractors Summary 5 YR
Section 4
Updated General Use Full Service & Total Services Cells to reference Office Rent 10yr
Update Warehouse Use Full Service & Total Services cells to reference Warehouse Rent 10yr
Section 5
Update Warehouse Use Full Service & Total Services cells to reference Warehouse Rent 10yr
Office Rent 10yr
Worksheet
Corrected Version reference to I64
Section 1
Updated references for Subject Property Location
Section 3
Updated Date of Lease reference
Section 5
Locked Total Other Adjustments calculations
Updated references for Area Rented and Building Utility
Section 6
Changed Net Adjustments label to include, "except levelization"
Section 7
Removed Bold, Wrap Text, Left Alignment from cells
Office Rent 5yr
Section 5
Updated Total Other Adjustments formula to include moved rent levelization
Warehouse Rent 5yr
Section 5
Moved Rent Levelization adjustment to bottom of section
Section 7
Removed "Per RSF" from labels
Worksheet
Duplicated for Warehouse Rent 10yr
Warehouse Rent 10yr
Section 1
Updated Subject Property Location References
Section 3
Updated Date of Lease reference
Section 5
Updated Area Rented and Building Utility references
Inserted row 54 for Total Other Adjustments, Except Levelization
Updated Total Other Adjustments formula
Changed Lease Term to and Rent Levelization to10 yrs.
Worksheet
Updated Version reference
Section 6
Updated section title to Section 6
Inserted row 58 for Starting Rate Conclusions heading
Updated Net Adjustments to Net Adjustments, Except Levelization
Updated Net Adjustments formula
Updated Indicated Annual Rate to Indicated Annual Starting Rate
Inserted row 61 for Selected annual starting rate
Section 7
Updated section title to Section 7
Inserted row 63 for Levelized Rate Conclusions heading
Inserted row 64 for New Adjustments
Inserted row 65 for Indicated Annual Levelized Rate
6.62 - 7/15/2014
Parking Rents Tab
Section 1
Changed Lease Date Adjustment to Center Align
Section 2
Changed Lease Date Adjustment to Center Align
Contractors Summary 5yr
Section 1
Added border between State and Zip Code
Merged Effective Date and Prospective Date Rows
Contractors Summary 10yr
Section 1
Added border between State and Zip Code
Merged Effective Date and Prospective Date Rows
Section 2
Changed 2nd Appraiser Expiration date format to Date
Added references to additional lines (row 18) from 5yr Summary
Section 4
Changed Header to Starting Rate Conclusions (10 year term)
Changed Header color to Purple
Section 5
Changed Header to Levelized Rate Conclusions (10 year term)
Changed Header color to Green
Office Rent 10yr
Section 6
Changed Header color to Purple
Section 7
Changed Header color to Green
Changed labels to Annual Levelized Rate
Warehouse Rent 5yr
Section 5
Area Rented format changed to Custom "SF"
Warehouse Rent 10yr
Section 5
Area Rented format changed to Custom "SF"
Section 6
Changed Header color to Purple
Unlocked Selected Full Service Starting Rate
Section 7
Changed Header color to Green
Changed labels to Annual Levelized Rate
6.63 - 9/3/2014
Change History Tab
Worksheet
Cleaned/Formatted Data
Added Dates to Version Field
Below Items Removed:
ROI value for parking if no comps: if necessary, contractor will address independently in report and enter rate in Parking Rent spreadsheet.
Building measurement and R/U changes: this is not an appraisal issue; the appraiser is appraising at a specific point in time. 'This needs to be addressed in the regional offices as changes occur. Appraisers are appraising as of the current conditions, ratios, measurements at the time of the appraisal.
Building shell should indicate inclusion of ceiling: will be included in instructions.
Description/definition of market standard build-out (TI): will be addressed in instructions.
Escalation: Rent grid adjustments reflect the difference between the rent escalation schedule in the comps as compared to the subject's level rent.
Residual Buildout: if needed by region for a particular building, region is to instruct contractor to address separately in report. Region will use value from report to put in ADS.
6.64 - 9/3/2014
Warehouse Rent 10yr
Worksheet
VBA Macro REMOVED, Continual errors in various versions of Excel
Warehouse Rent 5yr
Worksheet
VBA Macro REMOVED, Continual errors in various versions of Excel
Office Rent 10yr
Worksheet
VBA Macro REMOVED, Continual errors in various versions of Excel
Office Rent 5yr
Worksheet
VBA Macro REMOVED, Continual errors in various versions of Excel
Workbook
All Sheets
Saved as Non-Macro Enabled Workbook
Protected Structure to prevent Unhiding tabs - gsaFAR17
6.65 - 2/19/2015
Contractors Summary 10yr
Worksheet
Hidden starting for FY18
Office Rent 10yr
Worksheet
Hidden starting for FY18
Warehouse Rent 10yr
Worksheet
Hidden starting for FY18
Contractors Summary 5yr
Worksheet
Renamed tab Contractors Summary
Removed 5 yr. term from worksheet header
Section 4
Changed Header from "Rental Rate Conclusions (5 year level term)" to "Levelized Rate Conclusions"
GU Fully Serviced Rent - As of Current Date (per Tenanted Floor R/U) E39 - cell changed from reference to office rent grid to a calculation summing services and unserviced rent
GU Unserviced Rent - As of Current Date (per Tenanted Floor R/U) E41- cell changed from a calculation subtracting services from fully serviced rent to a reference to the levelization chart D39
WH Fully Serviced Rent - As of Current Date (per Tenanted Floor R/U) E43 - cell changed from reference to office rent grid to a calculation summing services and unserviced rent
WH Unserviced Rent - As of Current Date (per Tenanted Floor R/U) E45- cell changed from a calculation subtracting services from fully serviced rent to a reference to the levelization chart F39
GU Fully Serviced Rent - As of Current Date (per GSA Billing R/U) F39 - cell changed from calculation converting to billing RU to a calculation summing services and unserviced rent
GU Unserviced Rent - As of Current Date (per GSA Billing R/U) F41- cell changed from a calculation subtracting services from fully serviced rent to a calculation converting to billing RU
WH Fully Serviced Rent - As of Current Date (per GSA Billing R/U) F43 - cell changed from calculation converting to billing RU to a calculation summing services and unserviced rent
WH Unserviced Rent - As of Current Date (per GSA Billing R/U) F45- cell changed from a calculation subtracting services from fully serviced rent to a calculation converting to billing RU
Office Rent 5yr
Worksheet
Renamed tab Office Rent
Removed "5 Year Term" from worksheet header
Section 5
Lease Term changed from 5-Year term to 10-Year term
Lease Term comment changed to reflect 10 years
Rent Levelization changed from "Flat 5-Year base" to "Flat 10-Year base"
Warehouse Rent 5yr
Worksheet
Renamed tab Warehouse Rent
Removed "5 Year Term" from worksheet header
Section 5
Lease Term changed from 5-Year term to 10-Year Term
Lease Term comment changed to reflect 10 years
Rent Levelization changed from "Flat 5-Year base" to "Flat 10-Year base"
Section 7
Unserviced Rate comment - reshaped/resized
Rent Levelization
Worksheet
Created 2/19/2015
Gridlines removed
Background fill - Dark Blue, 80% Lighter
Column A, H, I resized to 2.00
Column B,C resized to 19
Column D,F resized to 12.00
Column E,G resized to 15.00
Rows 2, 20, 36 resized to 8.00
Header created Rent Levelization, font size 14, bold, italics
Enter Data in Shaded Cells notification created, font size 12, bold, italics
Trend Factor Type to Use validation list created, Cells M10:M13, Constant % per Year, Variable % per Year, Constant $ per RSF, Variable $ per RSF
Section 1
Heading created - Trend Factors, font size 12, bold
Rows 10-19 resized 25.00
Trend Factor Type to Use header, font size 11, bold
Trend Factor Type to Use cell validation to list M10:M13
Trend Factor Type General Use/Office & Warehouse headers, bold
General Use/Office & Warehouse headers, font size 11, bold, italics
Percentage per Year & Dollars per RSF headers, bold
Constant & Variable headers, bold
Year 1 - Year 10 headings, bold, underline
Conditional Formatting to highlight select trend factor type
Section 2
Heading created - Rent Rate Projections, font size 12, bold
Rows 25-35 resized 25.00
General Use/Office & Warehouse headers, font size 11, bold, italics
General Use/Office Selected Unserviced Rent cell reference updated to Office Rent V54
Warehouse Selected Unserviced Rent cell reference updated to Warehouse Rent V60
Selected Trend Factor & Selected Unserviced Rate headers, bold
As of Current Date, Year 1 - Year 10 headings, bold, underline
Conditional Formatting to determine $ or % based on "Trend Factor Type"
Section 3
Heading created - Levelized Rate Conclusions, font size 12, bold
General Use/Office & Warehouse headers, font size 11, bold, italics
Row 39 resized 25.00
As of Current Date heading, bold, underline
6.66 - 3/3/2015
Workbook
All Sheets
Protected Structure to prevent Unhiding tabs - gsaFAR18
Recent Changes
Worksheet
Created 3/3/2015
Outlines recent changes to workbook since 6.62
Protected Sheet - gsaFAR18
6.67 - 3/4/15
Contractors Summary
Worksheet
Changed version number from 6.65 to 6.67
Rent Levelization
Section 2
Added trend calculations to E26 - E35, G26 - G35 - =IF($C$7=$M$10,ROUND(E25*(1+D26),2),IF($C$7=$M$11,ROUND(E25*(1+D26),2),IF($C$7=$M$12,ROUND(E25+D26,2),IF($C$7=$M$13,ROUND(E25+D26,2),0))))
Workbook
All Sheets
Protected Structure to prevent Unhiding tabs - gsaFAR18
6.68 - 3/17/15
Contractors Summary
Worksheet
Changed version number from 6.67 to 6.68
Office Rent
Section 5
Rent Levelization (Row 48) Hidden
Warehouse Rent
Section 5
Rent Levelization (Row 54) Hidden
6.69 - 3/19/15
Contractors Summary
Worksheet
Changed version number from 6.68 to 6.69
Protected gsaFAR18
Section 1
For Fiscal Year changed to 2018
Date of Inspection changed to 10/1/2014
Section 3
Added second asterisk * to Tenanted Floor R/U Ratio label
Section 4
As of Current Date comment font changed to size 10, not-bold, Text changed from "This section files with data from RENT grids" to "This section fills with data from rent and levelization tabs"
Office Rent
Worksheet
Changed version number font to 8
Changed font to Arial
Changed Column G width to 8.43 (64 pixels)
Protected gsaFAR18
Section 4
Changed Adjustments & Adjusted Gross Rent labels to font size 9 (Rows 33 & 34)
Warehouse Rent
Worksheet
Changed version number font to 8
Changed font to Arial
Changed Column G width to 8.43 (64 pixels)
Protected gsaFAR18
Section 4
Changed Adjustments & Adjusted Gross Rent labels to font size 9 (Rows 38 & 39)
Rent Levelization
Worksheet
Changed version number font to 8
Added Comment to General Use Trend Type "Select from drop-down list"
Added Comment to Warehouse Trend Type "Select from drop-down list"
Locked all cells
Protected gsaFAR18
Section 1
Unlocked, Trend Factor Type (C7 & C8)
Unlocked General Use constant trend factors (D8 & E8)
Unlocked General Use variable trend factors (D10 thru E19)
Unlocked Warehouse constant trend factors (F8 & G8)
Unlocked Warehouse variable trend factors (F10 thru G19)
Directions added "Select "factor type" from the drop-down menu, then populate trend rate in shaded cells."
"Trend Factor Type To Use" header changed to "Trend Factor Type"
Parking Rents
Worksheet
Changed version number font to 8
Changed font to Arial
Protected gsaFAR18
Optional Checklist
Worksheet
Protected gsaFAR18
Section 7
Resized row 111 to fit text
Recent Changes
Proposed Changes
Corrected capitalization of "Include"
Worksheet
Hidden
Workbook
All Sheets
Protected Structure to prevent unhiding of tabs gsaFAR18
Version 6.70 - 3/23/15
Workbook
All Sheets
Unprotected Structure - gsaFAR18
Protected Structure - gsaFAR18
Contractors Summary
Worksheet
Unprotected sheet - gsaFAR18
Changed version number from 6.69 to 6.70
Protected - gsaFAR18
Section 4
Section header changed from "Levelized Rate Conclusions" to "Rental Rate Conclusions"
General Use Unserviced Rent label updated to included "levelized"
Warehouse Unserviced Rent label updated to included "levelized"
Rent Levelization
Worksheet
Unprotected sheet - gsaFAR18
Protected - gsaFAR18
Section 1
Locked General Use variable trend factors (Year 1) (D10 & E10)
Locked Warehouse variable trend factors (Year 1) (F10 & G10)
Removed from conditional formatting (D10, E10, F10, G10)
Added lower border (D10, E10, F10, G10)
Section 2
General Use Year 1 trend factor set to zero (D26)
Warehouse Year 1 trend factor set to zero (F26)
Inserted new Row 36
Adjusted borders for new row
Added Rent Levelization Adjustment Label (B36)
Added General Use Adjustment calculation (E36) ROUND(AVERAGE(E26:E35),2)-E25
Added Warehouse Adjustment calculation (G36) ROUND(AVERAGE(G26:G35),2)-G25
Section 3
changed General Use conclusion calculation (E40) from ROUND(AVERAGE(E26:E35),2) to ROUND(SUM(E25,E36),2)
changed Warehouse conclusion calculation (G40) from ROUND(AVERAGE(G26:G35),2) to ROUND(SUM(G25,G36),2)
As of Current Date heading changed to include "Unserviced Rent (As of Current Date)"
Version 6.71 - 3/26/15
Workbook
All Sheets
Unprotected Structure - gsaFAR18
Protected Structure - gsaFAR18
Contractors Summary
Worksheet
Unprotected sheet - gsaFAR18

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