Chapter 8 - Area Measurement Flashcards
What is usable area?
Area that is physically occupied by the tenant
What is basic rentable area?
Usable area of the tenant plus their proportionate share of floor area common
What is rentable area?
Basic rentable areas plus their share of building common area. This is the fully grossed up area of each tenant space and is the basis for rent calculation.
What is the difference between Gross Building Area and Gross Measured Area?
Gross Building Area includes the external wall thickness whereas Gross Measured Area does not.
What are the exceptions to the exclusion of exterior wall thickness when calculating Gross Measured area.
- Single tenant buildings - Gross building area is the primary measure used
- Measurement of store area - Store area will include the thickness of the exterior wall along the street frontage.
What is Floor Rentable Area?
Floor Rentable Area = Gross Measured Area - Major Vertical Penetrations
What are some examples of Major Vertical Penetrations?
- Elevator shafts
- Public and emergency stairways
- Vertical raceways for electrical and plumbing systems or HVAC ducting
- Building voids or open space within a building enclosure such as atriums and multi-level lobbies
In order to be considered “Store Area” what are the three conditions it must satisfy?
- It must be located on the ground floor
- It must have street frontage
- It must be suitable for retail occupancy
What is the difference between building common areas and floor common areas?
Building common areas are areas that benefit all building occupants whereas floor common areas only services the occupants on that floor.
How do you calculate floor usable area?
Office usable area + Store usable area + building common areas OR
Floor rentable area - floor common areas
What is the Floor R/U Ratio
The floor R/U ratio is used to apportion the floor common area to each tenant’s usable area.
Floor Rentable Area/Floor Usable area
