This indicates the rail line servicing the building. For a building to have rail line service, the building must have areas for train cars to pull up at one time for loading and unloading. "None", means there is no rail service. If there is rail service, the number of exterior and interior rail spots is indicated under Rail Spots. If there is no data, CoStar Group has not yet researched this field for this particular building.
Industrial buildings are said to be rail served when rail cars can be directly pulled up to the building at dock designed for loading and unloading of goods to and from the cars. A property can have multiple rail loading docks that can be either exterior or interior
Indicates that the floor is raised so computer wiring may run beneath the floor.
The buyer's name on the deed. Could be an individual, individuals, or company.
The date the grant deed, warranty deed or other conveying instrument was recorded at the County Recorder's office.
Expenses paid by the tenant over and above the rent - see Pass throughs
Provides shopping goods, general merchandise, apparel, and furniture , and home furnishings in full depth and variety. It is built around the full-line department store with a minimum GLA of 100,000 square feet, as the major drawing power. For even greater comparative shopping, two, three, or more department stores may be included. In theory a regional center has a GLA of 400,000 square feet, and may range from 300,000 to more than 1,000,000 square feet. Regional centers in excess of 750,000 square feet GLA with three or more department stores are considered Super Regional.
Real Estate Investment Trust. A real estate mutual fund, allowed by income tax laws to avoid corporate income tax. It sells share of ownership and must invest in real estate or mortgages. It must meet certain other requirements, including number of shareholders, widely dispersed ownership, asset and income tests. If it distributes 95% of its income to shareholders, it is not taxed on that income, but shareholders must include their share of REIT's income in their personal tax returns.
Space that was previously built out or occupied, but the lease has expired and the building owner is releasing it.
The amount of time left on the tenant's current lease, in months or years.
A building that has been completely restored so that the existing space becomes "new" space again. The date of the last major renovation is tracked. Minor renovations, such as the improvement of a building's lobby or exterior are not considered full building renovations. They may be noted as remodeled (cosmetically change), rehabbed (necessary repairs made or updated building materials), or restored (restored a building to its original condition at a certain date.
Asking or Face Rent. This represents the amount for which the landlord is offering their space per square foot, per year for lease for a listing. The amount for which the tenant will be responsible is negotiated between the tenant and landlord. Rents will vary depending upon the services provided. For example, full service rents are significantly higher than triple net (see Services).
(AKA RBA) Expressed in square feet, this area includes the usable area and its associated share of the common areas. Typically rents are based on this area. It is the space the tenant will occupy in addition to the associated common areas of the building such as the lobby, hallways, bathrooms, equipment rooms, etc. There is no real difference between RBA and GLA (Gross Leasable Area) except that GLA is used when referring to retail properties while RBA is used for other commercial properties.
Rental rates are defined as the annual rental costs for a particular space quoted on a per square foot basis. Rental rates are based on the rentable square footage of a property. They are calculated by taking the annual rental obligation of a particular space divided by the rentable square footage of that space. Rental rate totals are calculated on a weighted average of the size of the space. That is, the bigger the square footage of a particular space, the more heavily that space's rental rate will factor into the overall rental rate calculation.
Indicates the building contains a restaurant.
A Retail property's primary intended use is to promote, distribute or sell products and services to the general public. It will often be in high traffic or easily accessible areas. Retail buildings are configured for the display of merchandise or the interaction of company sales personnel with others.
Retail buildings can be used for various sales opportunities, including, but not limited to, stand-alone (convenience stores to department stores), store fronts, strip centers (no anchors), neighborhood, community, regional, and super-regional malls, power centers, factory outlet centers, and fashion or specialty centers.
Common area that may be used by tenants for lunch, breaks, receptions or meetings.
|