A secondary type of industrial building generally used for storage and/or distribution.
Building must be located on the water (water views do not qualify).
The average rental rate for all spaces within a building or a market, with the average being skewed, or weighted, according to the size of the space available (the larger the space, the more that particular rental rate counts in the average). The weighted average is calculated by multiplying the square footage of each unit by its asking rental rate to obtain the total asking rent for each space, then totaling the rents for each space and dividing that sum by the total square footage for all units. Negotiable rental rates and rental rates of zero are excluded in this calculation.
Example:
(20,000 sf x $20/sf = $400,000) + (12,000 sf x $10/sf = $120,000) = $520,000 /32,000 sf= $16.25/sf
See also: Asking Rent, Effective Rent, Estimated Rent, Estimated Gross Rent, Services
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