Gross leasable area (GLA) is a measure of the total rentable space in a commercial property, including both tenant spaces and common areas. It is typically used to determine the size and capacity of a property, as well as to calculate rent rates.
GLA is typically measured in square feet and includes all areas of a property that are available for lease, such as office spaces, retail spaces, and storage areas. It does not include areas that are not available for lease, such as mechanical rooms or janitorial closets.
GLA is an important consideration for both landlords and tenants when leasing a commercial property. For landlords, it is used to determine the overall size and capacity of the property, as well as to set rent rates based on the demand for similar properties in the area. For tenants, it is important to understand the GLA of a property in order to accurately compare different leasing options and determine which one is the most suitable for their needs.
Throughout my career as a commercial real estate agent, I've helped many business owners and investors identify, negotiate and secure commercial properties that aligned with their business and investment goals. If you're a business owner and/or investor in Louisville, KY, or its surrounding areas, I'd be happy to help guide you through the process! Feel free to call/text me at (502) 536-7315 or email me at raphael@grisantigroup.com.
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