BOMA Measurements refer to the standards offered by the Building Owners and Managers Association for accurately measuring the leasable square footage of commercial buildings.
Commercial property refers to buildings or land intended to generate a profit, either from capital gain or rental income. This category includes a diverse array of properties such as shopping centers, office buildings, hotels, resorts, and restaurants.
Core Space refers to the central areas of a building that house essential services like elevator banks, restrooms, stairwells, electrical services, and janitorial closets. This space is crucial for the functionality and accessibility of the building.
The efficiency ratio in real estate is the proportion of a building's area that is leasable space, reflecting how efficiently space within the building is utilized for leasing purposes.
A prime tenant in real estate is the tenant who occupies the most space within a shopping center or office building. These tenants are considered creditworthy and are essential in attracting additional customers or traffic.
A see-through building refers to a vacant or largely unoccupied building, typically characterized by its clear visibility from one side to the other due to the absence of tenants or furnishings.
Amounts paid by a tenant to a landlord for the tenant’s share of expenses, typically encountered in net leases and leases with stop clauses. These payments help cover specific property-related costs such as common area maintenance, property taxes, and utility expenses.
