Business Definition for: gross leasable area
gross leasable area
total floor area of a building, usually measured from its outside walls.
See also
net leasable area
gross leasable area
the floor area that can be used by
tenants
. Generally measured from the center of joint partitions to outside wall surfaces. Contrast
net leasable area
.
Example: Figure 95.
Of the 20,000 gross leasable square feet on each floor, approximately 25% is used for purposes of common use.
Related Terms:
in a building or project, floor space that may be rented to tenants; area upon which rental payments are based. It generally excludes common areas and space devoted to the heating, cooling, and other equipment of a building.
Referring Terms:
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Copyright © 2004, 2000, 1997, 1993, 1987, 1984 by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.