Property legal owner
The property legal owner is that entity/those entities reflected as property owners on the title deed. Oftentimes a property legal owner is a “shelf company” – a separate legal entity…
Archives: CRE Dictionary
Archives: CRE Dictionary
Property ownership
Property ownership in commercial real estate (CRE) can feel complex. Here we try make it simpler. Baby steps – residential property ownership Let’s start off with residential property – familiar…
Property name
As you are known by your name, so is a property known by theirs. As human names may change, in the event of, for example, marriage (or fame), so may…
Building name
In the instance of a property comprising one building, the property name and building name may be the same. Where the property is comprised of various buildings (such as an…
Building component
A building component is nested inside of a property’s hierarchy. In its simplest form, a commercial real estate (CRE) property hierarchy is two-tiered: property as parent, with units as child.…
Unit ID
A unit ID is the unique identifier for a property unit or listing. In the same way that a person has a name, a unit ID is the unit’s name.…
Tenant’s proportionate share
A tenant’s proportionate share is also known as a tenant’s pro rata share. This is the portion of the property, by GLA or usable area, that the tenant is occupying,…
Lease floor number
In the vanilla lease floor number instance, there are two cases A tenant may occupy one (of many units) – and units do not straddle floors A tenant may occupy…
Supplementary space – rent attracting
Supplementary space – rent attracting generally comprises these sub-categories of space: office storage, office terrace, industrial yard, parking bays. An abbreviation for supplementary space – rent attracting is “SRA”. SRA…
Supplementary space – not rent attracting
Supplementary space – not rent attracting generally comprises these sub-categories of space: Balcony, decks, patios. An abbreviation for supplementary space – not rent attracting is “SNRA“. SNRA is one of…