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Glossary

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USABLE AREA 

This relative term is best compared to rentable area. Usable area is the amount of space that can actually be used by tenants within the space they lease. For example, columns inside a tenant space are counted in the measure of rentable area, but the space occupied by the column cannot be used by the tenant. A tenant’s usable area does not include common areas in the building. Source: The NAIOP Research Foundation, 2017

 

USEABLE SQUARE FOOTAGE (USF)

Is the amount of space that is actually available to be used in a commercial real estate rental property. There is a tremendous amount of space that is not useable such as exit hallways, stairways, bathrooms, etc. Therefore, the USF gives you an accurate idea of how much working space you have.

 

UTILITY PROVIDER

An organization which provides water and/or power, such as electricity or natural gas, to customers. Utilities are allowed certain monopoly rights due to the practical need to service entire geographic areas with one system, but they are regulated by state, county and/or city public utility commissions under state laws.

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