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A typical commercial real estate lease is based on a rate that is multiplied by the size of the unit, for instance, $20 per square foot per month, or 20psf/mo. In this case the inducement might be 3 months of free rent every other year.
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.
A CAM charge is an additional rent, charged on top of base rent, and is mainly composed of maintenance fees for work performed on the common area of a property Each tenant pays their pro rata share of a property's total CAM charges, which prorated share is the percentage of the tenant's rented square footage of the total, rentable square ...
The International Council of Shopping Centers makes the presence of anchors one of the main defining characteristics of the two largest categories of centres, the regional center with 400,000 to 800,000 square feet (74,000 m 2) in gross leasable area, and the superregional center with more than 800,000 square feet (74,000 m 2) of space.
The portfolio comprises approximately 127 million square feet. It features approximately 60,300 hotel rooms and over 500 restaurants, bars, nightclubs, and sportsbooks.