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.
The total floor space that is actually leased to a tenant, per the lease agreement. For more information, see the "Overview of Leases" article in the "Real Estate In-Depth" section.
Another word for Rentable Area. This term is not defined in the BOMA Standards or any major published measurement standard. This term should not be used if the BOMA Standards are being employed.
The space in a development, outside of the common areas, that can be rented to tenants.
In a building or project, floor space that may be rented to tenants. The area upon which rental payments are based. Generally excludes common areas and space devoted to the heating, cooling, and other equipment of a building.
Floor space in a building that is actually under lease and able to be rented to tenants. Non-leasable area includes hallways, building foyers, areas devoted to utilities, elevators, etc.