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 .
The Texas Provision refers to the measurement standard used for Midtown Manhattan Modern Office Towers in terms of usable area. This provision sets guidelines for determining the floor area of office spaces within these buildings, allowing for more accurate evaluation and comparison of different properties. One of the key concepts in the Texas Provision is the use of usable area as the measurement standard. Usable area refers to the actual space within an office that can be occupied and utilized by tenants for various purposes such as workstations, meeting rooms, and common areas. It excludes areas that are not directly usable by occupants like mechanical rooms, stairwells, and elevator shafts. By using usable area as the measurement standard, the Texas Provision aims to provide a more realistic representation of the actual working space available to tenants. This helps potential occupants understand the true efficiency and functionality of a particular office building. It also facilitates fair comparisons between different properties, allowing businesses to make informed decisions based on their specific spatial requirements. In Midtown Manhattan's modern office towers, where space is often at a premium, accurately measuring usable area becomes crucial. The Texas Provision ensures that office spaces are evaluated consistently, taking into account the specific needs and preferences of potential tenants. While the Texas Provision is primarily focused on usable area as the measurement standard, it is worth noting that there may be variations or additional provisions related to this concept. Some examples include: 1. Gross Area Provision: In certain cases, the gross area provision may be used alongside the Texas Provision. Gross area includes all the spaces within an office building, including usable area, as well as areas that are not directly occupied, such as building amenities, circulation areas, and common corridors. While usable area focuses on tenant-specific occupied spaces, the gross area provides a broader overview of the entire floor or building. 2. Net Area Provision: Net area is another measurement standard that may be used in conjunction with the Texas Provision. Net area represents the usable area after deducting certain common areas or spaces that are shared among multiple tenants or to serve the entire building. This measurement provides a more accurate understanding of the actual space available exclusively for a particular tenant's use. 3. Efficiency Ratios: In addition to the Texas Provision, office developers might also provide efficiency ratios that demonstrate the ratio of usable area to the gross or net area of the building. These ratios can help tenants determine the efficiency and effectiveness of the rentable space and how it aligns with their spatial requirements. In summary, the Texas Provision is a measurement standard used for Midtown Manhattan Modern Office Towers, with a primary focus on usable area. By accurately determining the actual space available for occupancy, this provision aims to provide fair evaluations and comparisons of office spaces, facilitating informed decision-making for prospective tenants. Additional provisions such as gross area, net area, and efficiency ratios may be used to provide a broader understanding of the office spaces available within these buildings.
