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One Worldwide Plaza contains 1.5 million square feet (140,000 m 2) of office space. [7] The upper stories each have 20,000 to 72,000 square feet (1,900 to 6,700 m 2) of rentable space. Each story has an open plan, and the slab-to-slab height of each story is 13 feet (4.0 m). [38]
The length of the lease is also a determinant of value (e.g., 20 years of guaranteed income will be worth more 10 or 15 year terms). Generous rental increases, also known as rent bumps, add value to the lease and protect the landlord against inflation. Some leases also have a percentage rent kick in if the tenant's gross sales hits a certain CAP.
In such a lease, the tenant or lessee is responsible for all costs associated with the repair and maintenance of any common area (also known as CAM - Common Area Maintenance). CAM fees typically are negotiated up front as a set dollar figure per square foot. This form of lease is most frequently used for commercial freestanding buildings.
The top city on the list according to the report, Johnstown, Pennsylvania, costs just 65 cents per square foot in terms of average rent, well below the national average of $1.78 per square foot ...
Rental Cost: $244.8 per 100 square feet Hawaii is the state with the highest rent per square foot in America and the smallest houses in the study, coming to about 1,164 square feet on average.
Commercial property, also called commercial real estate, investment property or income property, is real estate (buildings or land) intended to generate a profit, either from capital gains or rental income. [1] Commercial property includes office buildings, medical centers, hotels, malls, retail stores, multifamily housing buildings, farm land ...