The total area for which rent is paid. It includes the space actually occupied by the tenant, as well as a pro-rata allocation for common areas such as public corridors, building lobbies, core areas, and restrooms.
The (square footage) for which rent can be charged. Generally it is the gross area of the full floor less the area of all vertical penetrations (elevator shafts, stairwells, mechanical shafts etc.) Rentable area can be measured in many ways, but the most common measurement for office buildings is according to Boma Standards.
Computed by measuring to the inside finished surface of the permanent outer building wall, excluding any major vertical penetrations of the floor. The areas of columns and building projections are included in rentable area. Excluded from rentable area are exterior walls, major vertical penetrations and interior parking spaces.
Denotes the number of square feet in a commercial building deemed for rent, according to BOMA. May include common area load factor or allowance for building amenities such as hallways and lavatories.
same as net leasable area.
The generally accepted means of measuring space within an office building is the Building Owners and Managers association (BOMA) standard. From the inside of the outside wall (or in new buildings from the glass line) to the outside of the inside wall (or hall wall) and center to center on the division walls. Columns are included.
The area of a building, floor or suite used as the basis for calculating Base Rent. Different measurement standards define this in different ways. Refer to individual standards for measurement methods and definitions.
See "net leasable area".
The area of floor space for which rent is calculated even though other areas, within or outside the premise, are lawfully used by the tenant. For example, in an office building it is customary to exclude from the direct calculation of rent the space used for corridors, atrium and stairways.
(See Leasable Area)
Floor space in a building that is actually under lease and able to be rented to tenants. Non-leasable space would be hallways, building foyers, areas devoted to utilities, elevators, etc. Also referred to as net leasable area.