Founded in Canada in 1996, Green Globes is a green building guidance and assessment program that offers a way to advance the overall environmental performance and sustainability of commercial buildings. After achieving a minimum of 350 of the total number of 1,000 points, new and existing commercial buildings can be certified for their environmental achievements … Read more
A building that is owned (and typically occupied) by public sector entities. Learn more at https://www.naiop.org
A clause in a retail tenant’s lease that allows a tenant to cease operations at a property if a defined event, such as the departure of an anchor tenant, should occur. Learn more at https://www.naiop.org
A descriptive term used to characterize a building that cannot be improved to meet current market standards or tastes without a complete replacement of buildings systems and finishes. Learn more at https://www.naiop.org
A legally binding contract in which a landlord receives stipulated rent from a tenant and is obligated to pay all or most of the property’s operating expenses and real estate taxes. Note: Disclosure of the specified costs of operation is required in some states. (See Common Lease Types Matrix.) (Synonym: full service lease) Learn more … Read more
An industrial property type that enables goods to be efficiently moved or transported from a warehouse directly to a consumer. (Typical characteristics are shown in the Industrial Building Types Matrix.) Learn more at https://www.naiop.org
A stand-alone retail structure that is not part of a complex (i.e., bank, bowling alley, Walmart, etc.). (See Retail Building Types Matrix.) Learn more at https://www.naiop.org
The gross square footage of each floor in a multistory building. Individual floor plate sizes may vary according to the design of a building. Learn more at https://www.naiop.org
FAR is the relationship between the total square footage of a building and the total square footage of the parcel on which the building is located. It is typically calculated by dividing the total square footage of the building by the land area in square feet. For example, if a 20,000-square-foot building is built on … Read more
As its name suggests, an industrial building designed to be used in a variety of ways. It is usually located in an industrial park setting. Specialized flex buildings can include service centers, showrooms, offices, warehouses and more. (Typical characteristics are shown in the Industrial Building Types Matrix.) Learn more at https://www.naiop.org