Question

Occupied sf of office space in market area is 14,236,875. The number of office workers in market area is 63,275 . What is the average demand ratio of sf per office worker? Suppose an EBA forecasts that there will be 69,600 office workers in three years, a 3.23% annual growth rate assuming. What is the forecasted office demand sf?

Answer 1

To find the average demand ratio of square feet (sf) per office worker, divide the total occupied sf of office space by the number of office workers in the market area. The average demand ratio in this case is approximately 225 sf per office worker.

Step-by-step explanation:

To find the average demand ratio of square feet (sf) per office worker, we divide the total occupied sf of office space by the number of office workers in the market area. So, the average demand ratio is:

Average Demand Ratio = Occupied sf of Office Space / Number of Office Workers

Plugging in the given values:

Average Demand Ratio = 14,236,875 sf / 63,275 office workers

Calculating this gives us an average demand ratio of approximately 225 sf per office worker.