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 .
Illinois Provision Using Usable Area as the Measurement Standard for Midtown Manhattan Modern Office Towers
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FAQ
Rentable space results in the largest measurement because it includes all areas where you will live plus a percentage of the common space. Usable space is the entire space you will occupy and use, even if it's a closet, storage, or hallway space.
Rentable Area when applied to the Premises, is that area equal to the usable area of the Premises, plus an equitable allocation of Rentable Area within the Building that is not then utilized or expected to be utilized as usable area, including that portion of the Building devoted to corridors, equipment rooms, ...
The Rentable Area of floor area shall be computed by measuring to the inside finished surface of the dominant portions of the permanent outer building walls, excluding any major vertical penetrations of the floor. No deduction shall be made for columns and projections necessary to the building.
Definitions of Rentable area The rentable area consists of the space occupied or leased by the tenant plus an allocated portion of the areas in the building that are shared with other tenants such as the lobby or corridors.
Calculating Rentable Square Footage Your rentable square footage is equal to your usable square footage plus your pro-rata share of the common areas of the building. To arrive at the rentable square feet, refer to The Building Owners and Managers Association (BOMA) standard.
Calculating Usable Square Footage Your usable square footage is the actual area of your space as measured within the demising exterior walls of your suite. If you have a 200-foot by 200-foot rectangular space, you would multiply the 200 feet of length by the 200 feet of width to come up with 40,000 usable square feet.
The usable area is measured from one of three points: The office side of the common corridor wall. The inside of the external wall of the building. The middle of partition wall, separating two adjacent tenant spaces.
The usable area of a house is calculated by measuring the area of each of the rooms, adding the areas of the rooms and subtracting the areas of the structural elements and perimeter walls.
