This is a door that forklifts, trucks, and other heavy machinery or vehicles can enter and exit with ease as there is no change in elevation.
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Full Time Employment
This is the employment status of a particular individual who works for 35 or more hours per week doing a job that is income-producing. Full-time employment comes with benefits that are not given to employees on part-time...
Contingency
This is a contract clause detailing that in the event of a specific circumstance, some or all of the conditions of the contract will be voided or altered. It may also be called a condition.
Base
In reference to leases, base refers to a face, quoted, dollar amount illustrating the rent or rate in dollars per square foot per year. It is typically called the base rate. Base can also be a chart pattern depicting a relatively...
Design/build
Also known as construct/design, this is a system wherein a single entity is in charge of both the construction and design of a particular building. The term can be applied to an entire facility or to individual components of the...
Ceiling Height
This is the vertical distance between a room's finished ceiling and the finished floor. It is measured from the floor to the underside of the roof. This measurement is typically higher than any beams, joists, hanging objects, or...
Base Rent
Typically a fixed amount, the base rent is the asking price for the space itself. It does not include any maintenance, insurance, taxes, or any other type of financed money that may be used for the build-out. The base rent is the...
Delivered
Delivered is a term used for a building that has concluded its construction. The property will be considered whether or not tenants have already occupied the space. It may also be called completion or new supply.
Breakpoint
The breakpoint or percentage rate is a kind of lease wherein the rental charge is based on the gross income of the tenant as opposed to fixed monthly or annual value. It is calculated by dividing the annual base rent by the...
Clear title
This is a land title without any kind of lien or levy against it in which no creditors or other parties will question its legal ownership. It is crucial for any real estate transaction as it strongly establishes who the property...
