This office lease form describes provisions for using the area in the case of a single tenancy floor, within the exterior walls of the New Building, or, in the case of a multiple occupancy floor, within the exterior walls, party walls or corridor walls which is considered to be usable area .
Title: Alaska Provision: Utilizing Usable Area as the Baseline Measurement Standard for Midtown Manhattan's Modern Office Towers Keywords: Alaska Provision, Usable Area, Measurement Standard, Midtown Manhattan, Modern Office Towers Introduction: The Alaska Provision sets forth a distinctive approach to measuring the floor area of modern office towers in Midtown Manhattan. Instead of relying solely on the traditional methods of measuring office spaces, this provision introduces the concept of "Usable Area" as a more practical and efficient means of determining the usable space within these buildings. In this article, we will delve into the specifics of Alaska Provision and explore its significance for Midtown Manhattan's modern office towers. 1. Understanding Alaska Provision: The Alaska Provision is a building regulation guideline that aligns with contemporary real estate practices, emphasizing the importance of usable space within modern office towers. This provision aims to provide a more accurate depiction of the actual area that tenants can utilize for their business operations. 2. Key Aspects of Usable Area: Usable Area, as defined by the Alaska Provision, refers to the space within an office tower that can be effectively employed by tenants for their day-to-day operations. This measurement standard excludes certain elements like structural columns, common areas, mechanical rooms, and vertical penetrations, focusing exclusively on allocable spaces that directly contribute to the tenant's functionality and productivity. 3. Advantages of Alaska Provision: a. Enhanced Accuracy: By considering only the usable areas, the Alaska Provision offers a more precise representation of the true working space available to tenants. This ensures transparency and accountability between landlords and tenants during lease agreements. b. Efficient Space Utilization: The provision encourages efficient space utilization by maximizing the use of the actual workable area within office towers. This promotes effective use of resources, thereby contributing to sustainable practices. 4. Types of Alaska Provision within Midtown Manhattan Modern Office Towers: a. Alaska Provision — Core and Shell: This variation of the Alaska Provision primarily focuses on the measurement of usable area within the "core and shell" spaces of office towers. It excludes elements such as common lobbies, restrooms, and other shared areas from the usable floor area count. b. Alaska Provision — Full-Building Measurement: This type of Alaska Provision comprehensively measures and accounts for the usable area throughout the entire office tower, including shared spaces, amenities, and common areas. It provides a broader perspective on the available space within the building as a whole. Conclusion: The Alaska Provision, utilizing usable area as the measurement standard for Midtown Manhattan's modern office towers, represents an innovative approach to accurately evaluating usable space for tenants. By focusing on the practical areas that contribute directly to business operations, this provision enhances transparency, allows for efficient space utilization, and ultimately fosters a conducive environment for thriving commercial activities.
