Gross leasable area (GLA)
Gross leasable area (GLA) is a term commonly used in the real estate industry to describe the total floor space available for lease in a commercial property. It includes all areas that can be rented out to tenants, such as retail stores, office spaces, and storage areas.
GLA is typically measured in square feet or square meters and does not include common areas such as hallways, stairwells, and restrooms. It is an important metric for property owners and investors as it helps determine the potential rental income and overall value of the property.
For example, a shopping mall may have a total GLA of 100,000 square feet, with individual retail stores ranging from 500 to 10,000 square feet. The GLA of each store is added up to calculate the total GLA of the mall.
It is important to note that GLA can vary depending on the method of measurement used, so it is essential to clarify how it is calculated when comparing different properties.
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