This office lease provision describes the standard of measurement for usable area in office buildings recommended by building owners and managers associations.
Florida provisions used for measuring additional or option space are guidelines or regulations put in place by the state to determine the accurate measurement of extra or optional space within a property. These provisions ensure consistency and fairness in determining the size and value of such spaces. One of the most commonly used provisions in Florida is the Gross Leasable Area (GLA) measurement. GLA refers to the total space that can be leased to tenants and includes all floor areas, including common areas, corridors, and restrooms. This measurement is crucial for determining rental rates, tenant eligibility, and lease terms. Another provision used in Florida is the Net Leasable Area (LA) measurement. LA is derived from the GLA by excluding common areas, such as hallways and restrooms, and includes only the rentable space in which tenants can conduct their business operations. It is often used in lease agreements to calculate rental costs and tenant's responsibilities for maintaining their leased space. In addition to GLA and LA, the state of Florida also employs provisions to measure specific types of additional or option space, such as storage areas, parking spaces, and balconies. These spaces are typically evaluated separately from the primary leased areas and may have specific size requirements or restrictions outlined by the provisions. Furthermore, Florida may have provisions for measuring option spaces, which are areas that tenants have the right to use or occupy in addition to their leased space. This could include options to expand the leased premises, lease additional storage, or lease parking spaces. The provisions governing option space measurement ensure that the size and value of such areas are accurately determined, allowing for fair negotiations and lease agreements. Overall, the various provisions used in Florida for measuring additional or option space, such as GLA, LA, and specific space measurements, play a crucial role in determining the size, value, and terms of lease agreements. They provide a standardized methodology to ensure fairness and accuracy in the commercial real estate industry.
