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Glossary

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OCCUPANT

Permanent/regular occupants of the building, such as tenants and staff. If the building is owner-occupied, surveys should be directed to staff. Visitors to the building are not considered occupants.

 

OCCUPANCY COSTS 

Costs incurred from operating a business within a commercial property. These can include rent, property taxes, insurance, security, and equipment for business operation.

 

OFFICE BUILDING

A property providing environments conducive to the performance of management and administrative activities, accounting, marketing, information processing, consulting, human resources management, financial and insurance services, educational and medical services and other professional services.

 

OPEN AIR RETAIL

Refers to configurations where there is no indoor common space, and stores may be unconnected or attached in a strip or row type of fashion. This type of property may also be called a Strip Mall.

 

OPERATING EXPENSE

Expenditures that a business incurs to engage in activities not directly associated with the production of goods or services.

 

ORI

Opportune Realty Investors

 

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