A building is designed and tailored for a specific tenant, often because the tenant is unable to find suitable space in the speculative market. Sometimes (but not always), a build-to-suit project includes specific design features not commonly found in the speculative market, thus compelling the tenant to have a special facility built. The build-to-suit project … Read more

Abandoned, idled, or underused land or facilities where expansion or redevelopment is complicated by real or perceived environmental contamination. Learn more at https://www.naiop.org

The point at which an additional lease rate kicks in. For example, in addition to base rent, after a certain amount of sales revenue is generated in a month, a retailer will pay the landlord some percentage of in-store sales, typically about 5 percent. Learn more at https://www.naiop.org

A blend and extend lease is a type of renewal that allows tenants to blend their existing lease into a new and longer lease. If a tenant is paying rent that is above current market rents, this arrangement will lower the current rental rate. The tenant benefits by an immediate reduction in the rental rate, … Read more

Highly specialized laboratory or research and development space. The space is uniquely configured and is typically developed to the needs of the biotech tenant. It may require significant retrofit should the tenant vacate the space. The space is often characterized by robust mechanical, electrical and plumbing systems, as well as by sophisticated ventilation systems to … Read more

A freestanding structure occupied by a dominant retailer such as Home Depot. (See Retail Building Types Matrix.) Learn more at https://www.naiop.org

The distance from one side of the bay to the other. Learn more at https://www.naiop.org

The distance between columns. (Synonyms: clear span, column spacing) Learn more at https://www.naiop.org

Values equal to one-hundredth of one percentage point. For example, 100 basis points = 1 percentage point. Learn more at https://www.naiop.org

The total amount of space that is currently being marketed for lease. It includes space that is vacant or also space that is currently occupied but will be vacant in the future. Available space can include both direct and sublet space. If sublet space is excluded from the calculation, the term “direct available space” is … Read more