Gross leasable area
|This article appears to be a dictionary definition. Please rewrite it to present the subject from an encyclopedic point of view. If it cannot be turned into a full encyclopedia article in the near future, consider moving it to Wiktionary.|
|This article needs additional citations for verification. (December 2011)|
Gross leasable area (GLA) is the amount of floor space available to be rented in a commercial property. Specifically, gross leasable area is defined as the total floor area designed for tenant occupancy and exclusive use, including any basements, mezzanines, or upper floors. It is typically expressed in square metres (although in some places such as the United States, Canada and the United Kingdom, the square foot is used). It is measured from the center line of joint partitions and from outside wall faces. That is, gross leasable area is the area for which tenants pay rent, and thus the area that produces income for the property owner.
For a property with only one tenant, the measurements Gross Floor Area (GFA) and Gross Leasable Area (GLA) are essentially equal.
The Building Owners and Managers Association has established a standard with American National Standards Institute, ANSI/BOMA Z65.1-1996 for measuring floor area and calculating gross leasable area and loss factor.
|This real estate article is a stub. You can help Wikipedia by expanding it.|