GLA = Gross Leasable Area

The GLA should refer to the entire property, including the space that each tenant occupies, and any common or shared areas, such as parking lots, restrooms and hallways. The GLA is the denominator in the equation the landlord will use to determine a tenant’s...

NNN Lease

The three “nets ” or payments (besides rent) for a commercial real estate lease are: taxes, insurance, and common area maintenance/operating expenses.  A lease agreement with base rent, plus the net payments, is referred to as a triple net, or NNN, lease. Is...