CRE Terms to Know: Rail Door

A door that is generally side-loading, that has access to railroad tracks, and that facilitates the loading or unloading of goods from a railroad car to an industrial building. Learn more at https://www.naiop.org

CRE Terms to Know: Push-back Rack

Racking system with a sliding device that pushes back pallets, thereby allowing multiple pallets to be placed in the same location. Learn more at https://www.naiop.org

CRE Terms to Know: Pro Rata Share

The percentage that, when multiplied by reimbursable expenses (less an expense stop if referring to a gross lease), equals the amount to be reimbursed by a tenant to the landlord for expense recoveries. Typically, the percentage is calculated by dividing the net rentable area of a tenant’s leased premises by the net rentable area of … Read more

CRE Terms to Know: Preleased Space

The term applies to space that has been leased in a building that is under construction. Learn more at https://www.naiop.org

CRE Terms to Know: Power Center

Among the largest types of retail properties, they typically feature three or more big box retailers such as Home Depot, Target and Walmart. Various smaller retailers are usually clustered together in a community shopping center configuration. Power centers are typically made up of multiple large buildings that are one-level, rectangular structures with surface parking in … Read more

CRE Terms to Know: Pop-up Retail

A retail store, restaurant or kiosk intentionally designed to be in a location for a finite amount of time (i.e., a restaurant that opens for six months so it can test a market, or a store that operates in a location during the holiday season only). Learn more at https://www.naiop.org

CRE Terms to Know: Phantom Space

A portion of leased space that is not being used by the tenant. This area can include unused space that a tenant leased and is holding for expected future growth. It can also include unused space that was previously occupied but is no longer used as a result of downsizing the company’s workforce. Shadow space … Read more