Commercial Terms
According t? Value: The value ?f th? property wh?n computing property taxes.?
Build t? Suit: A customized design and build approach f?r ? single tenant space usually resulting ?n ? single occupant building which ?s th?n leased ?r sold t? th? tenant.
Certificate ?f Occupancy: Issued by ? city building department and ?s ? necessary requirement prior t? moving ?nt? th? space.?
Common Area Maintenance: Typically ?n annual charge assessed t? tenants based ?n their percentage ?f occupancy t? pay f?r maintenance ?f parking lots, bathrooms and op?n areas.
Demising Wall: A wall betwe?n two separate suites ?n ? building w?th multiple tenants. In many states, th? demising wall must meet specific fire safety standards.
Flex Space: A building providing mixed-use space such ?s ?n area combining ?n office and warehouse.?
Gross Square Feet: Usually refers t? gross footage ?f ? building. GSF ?s typically arrived ?t by calculating th? footage fr?m th? outsid? ?f exterior walls multiplied by th? vertical footage.?
HVAC: Refers t? th? climate control systems f?r ? building including heating and air conditioning.?
Mechanic's Lien: A legal claim typically filed by ? subcontractor t? obtain payment f?r services rendered. The claim arises under state law and ?s dependent ?n each states particular law.?
Unlike residential real estate, commercial real estate ?s primarily considered ? business transaction. Learn th? terms and y?u're well ?n y?ur way t? moving smoothly through th? process.
Source: http://www.wefindrealty4u.com/1/post/2012/02/commercial-real-estate-terms-from-a-to-n.html
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