Gross Leasable Area | Practical Law - Thomson Reuters
Property
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Understanding Gross Leasable Area (GLA)
Gross Leasable Area (GLA) is an essential concept in the field of real estate and property management. It refers to the total floor area available for lease to tenants in a given property, excluding common areas and non-leasable spaces.
GLA plays a crucial role in determining the financial aspects of a property. It is often used to calculate rental income, lease terms, and overall valuation. Property owners, developers, and investors rely on GLA as a key metric when making important business decisions.
Understanding GLA is essential for both tenants and landlords. Tenants need to know the GLA to negotiate lease agreements, while landlords rely on accurate GLA measurements to determine fair rents and manage their properties effectively.
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