Property Management
What is 'gross square footage' (GSF) versus 'net rentable area' (NRA) in Illinois commercial leasing?
AThey are the same measurement; both describe the total space
BGSF is the total building floor area including structural elements; NRA is the area tenants pay rent on, excluding common areas and structural elements✓ Correct
CGSF is used for industrial; NRA is used for office buildings
DGSF includes all floors; NRA includes only above-grade floors
Explanation
Gross Square Footage (GSF) is the total floor area of a building including walls, columns, mechanical rooms, and common areas. Net Rentable Area (NRA) or Rentable Square Footage (RSF) is what tenants pay rent on—it includes the tenant's usable space plus their proportionate share of common areas. The 'load factor' or 'R/U ratio' measures the ratio of rentable to usable space, typically 1.10-1.25 in office buildings.
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