This office lease provision describes the standard of measurement for usable area in office buildings recommended by building owners and managers associations.
South Dakota Provisions Used for Measuring Additional or Option Space: A Detailed Description of their Usage When it comes to measuring additional or option space in South Dakota, there are specific provisions that play a crucial role in determining the accurate measurement. These provisions help ensure transparency and consistency while considering the allocation of additional or option space. Here, we will delve into the details of these South Dakota provisions and shed light on their different types: 1. South Dakota Revised Statutes (SARS) — The South Dakota Revised Statutes serve as the primary legal reference for measuring additional or option space in the state. These statutes outline specific guidelines and requirements that property owners, tenants, and developers must adhere to when determining the measurement of such spaces. They provide a standardized approach for calculating additional or option space, ensuring fairness and precision in real estate transactions. 2. Gross Leasable Area (GLA) — GLA is one of the most common provisions used to measure additional or option space in South Dakota. It refers to the total floor area of a property that is available for lease to tenants. GLA considers only the space that tenants can occupy and excludes common areas, such as hallways, staircases, and elevators. By utilizing GLA, property owners can accurately determine the leasable space of their property, which helps in negotiating leases and determining rental rates. 3. Usable Area — Usable area is another provision employed to measure additional or option space in South Dakota. Unlike GLA, usable area takes into account all areas within a property that occupants can utilize, including common areas. It provides a broader measurement that includes spaces commonly used by tenants but not included in the GLA calculation. Usable area is particularly important in properties where shared spaces are integral to the overall functionality and value, such as shopping centers with common seating areas or office buildings with shared conference rooms. 4. Net Settable Area (LA) — NeSettablele Area is yet another provision utilized to measure additional or option space in South Dakota. LA includes both the leasable space and a portion of common areas. It considers areas that may benefit multiple tenants, such as courtyards or atria. Property owners often use this measurement to determine rental rates that reflect the added value provided by these shared spaces. LA provides a more accurate reflection of a property's potential income-generating capacity. In conclusion, South Dakota has several provisions in place to measure additional or option space accurately. These provisions include the South Dakota Revised Statutes, Gross Leasable Area (GLA), Usable Area, and Net Settable Area (LA). Each provision possesses its own unique characteristics and plays a vital role in determining the appropriate measurement for additional or option space. By adhering to these provisions, property owners, tenants, and developers can ensure consistency, transparency, and fairness in real estate transactions throughout South Dakota.
