Definitions for "NET LEASABLE AREA"
The area in a building which is available for rent to tenants (excludes common areas, wasted space, etc.).
Floor space in a building that is actually under lease and able to be rented to tenants. None leasable space would be hallways, building foyers, areas devoted to utilities, elevators, etc.
The area within a building or structure that is actually occupied by an individual tenant. Net leasable area does not include any of the common areas shared by other tenants, such as lobbies, restrooms, etc.