I forgot to add trading with retention. Retention saving would be against the minors number. How much do you pay for the extra savings?
If your trade with 50% retention ($1.625M) you are only saving: $550K, $500K, $500K
How much is $500K space worth? A 1st? Heck no. A 5th? Nothing?
If your trade with $1M retention you are saving: $1.175M, $1.125M, $1.125M
How much is $1M space worth, really?