square footage

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square footage

The area of a space measured in feet.A rectangular parcel of land 100 feet wide by 150 feet deep is 100 150 1,500 square feet.For buildings,the measurements are usually taken at the outside walls.Leased space is measured in usable or in rentable square feet,which differ from each other. Usable square feet consist of the space capable of being occupied by the tenant. Rentable square feet may include a percentage add-on, such as ten percent increase over usable square feet,so that the tenant is paying rent on its proportionate share of the common areas in addition to its own space.Space is generally quoted as a certain number of square feet,“more or less.”This is because there have been successful lawsuits for fraud against real estate agents who represented that, for example, a house contained 2,050 square feet when it really measured out to only 2,000 square feet—a difference of one large closet.

References in periodicals archive ?
Rents on Seventh Avenue in Midtown rose 42 percent to $479 per square foot and the price per square foot on West 42nd Street soared 50 percent to $300.
In Dallas, Texas, a 51,000 square foot industrial project located in Duke's Freeport North industrial park that is 78 percent pre-leased to Computer Sciences Corporation, a global IT services company, and will be constructed in Duke's Texas Dugan joint venture;
Markington Square, a 174,997 square foot retail property located in the Greater Toronto Area, was acquired for $14.
Also in Atlanta, a 504,000 square foot industrial expansion project located at the Company's Park 85 at Braselton that is 58 percent pre-leased to Progressive Lighting, Inc.
This site is complementary with its existing Wal-Mart anchored centre, RioCan Warden a 232,000 square foot new format retail centre which is tenanted by national retailers such as Winners, Future Shop, Mark's Work Wearhouse, Reitmans and The Shoe Company.
In Atlanta, a 301,000 square foot industrial project located at the Company's Camp Creek Business Center that is 100 percent pre-leased to Hartsfield Warehouse Corporation; and a 657,000 square foot industrial project that is also located at Camp Creek;
Approximately half of GE Commercial Finance's 221,000 square foot lease at Merritt 7, for one, counted towards absorption--the landlord relocated six tenants from the 201 Merritt 7 building to other buildings within the park to make way for the mega-tenant.
TYCO leased Blanchard's 150,000 square foot building in Florham Park.
In Atlanta, Georgia, a 130,000 square foot industrial project in the Company's Camp Creek Business Center that is 100 percent pre-leased to R.
2 million square foot, Class "AA" office building located on Central Expressway and Haskell Street just north of downtown Dallas and east of the Uptown/Turtle Creek submarket.
22,000 square foot lease which was scheduled to expire in
The buildings are divisible to accommodate two 50,000 square foot users or the two buildings can be leased together to create a 253,000 square foot secured compound.