This pertains to any office, industrial, residential, or retail property that can either be sold or bought in a real estate market. Commercial real estate (CRE) is property that is utilized for the purpose of business or to...
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Gross Floor Area
This is the total square footage of a property that is measured between all the buildings exterior walls. It takes into consideration the number of stories contained in the structure. Included in the GFA are stairwells, elevator...
Brownfield Site
This is an area that was previously used mainly for industrial and commercial purposes. It may presently be environmentally impaired. Brownfield sites are often abandoned areas in cities or towns as they may be cheaper to buy...
Bids
This involves a system wherein each bidder submits a sealed and signed proposal to carry out construction work for a designated sum. The list of bidders, which is also called a bid list, is managed by both the client and the...
Forecast Period
This is a forthcoming period of interest in which a forecast is to be made.
Cloud on title
This is an encumbrance, a claim, an unreleased lien, or a document that might impair or invalidate a title to a land or property. It is often found during a title search, but it can be resolved through a quitclaim deed.
Build-to-suit
This is a method of commercial property leasing wherein the owner or developer of the property constructs a building according to a tenant's specifications.
Facility space
In hospitality properties, this is the area devoted to operating divisions such as health clubs, gift shops, and restaurants. Those places can service the general public or various guests on an interactive basis. Facility space...
Government Office Building
This is a building that public sector entities possess and occupy.
FAD multiple
This is the share price of a real estate investment trust (REIT) that is divided by its funds available for distribution (FAD).
