This is the official population count illustrating the number of people living in a certain area, whether it be on a small scale or a large scale. It includes districts, cities, counties, states, or the entire nation. It is...
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Efficiency Factor
This is the portion of net rentable square feet dedicated to the common areas of a building. It includes restrooms, lobbies, corridors, and other areas, and it can be calculated for an entire building or a single floor...
Average downtime
Indicated in months, average downtime is the period anticipated between the expiration of the lease and the start of a replacement lease according to the current market. An example of this is that if a space may take three months...
Exclusive right to sell (ERS)
This is a listing agreement that gives the agent the full right to sell a particular property for a designated period. The agent is also able to collect a set fee/commission if the property is sold by anyone—even the owner—during...
Closed-end fund
This is a blended fund that has a finite life and targets a specific range of investor capitals. It has a professional manager supervising the portfolio and actively buying and selling holding assets. It can also be referred to...
In-migration
This is the process wherein a particular geographic area incorporates new households or individuals from areas outside the normal location.
Catch Up Provision
This is a provision found in real estate partner agreements where a special distribution tier is incorporated into the equity waterfall that allows a general partner to "catch up" with the limited partner's cash flow...
Cantilever Rack
This is a kind of racking system specifically designed to store long, bulky, and awkward materials like piping and lumber. Cantilever racking doesn't have any vertical obstructions in the storage area. It is only composed of...
Full Service Gross Lease
This is a commercial lease wherein the tenant is required to pay a base rent while the landlord pays for all operating expenses related to the tenant's occupancy of the space. Those include common area maintenance, property...
Creative Office Space
This is a space that was previously meant for industrial purposes, complete with high ceilings and air ducts. It is often made of brick and timber, and it has been converted into an office space or a studio that caters to...
