Property Management
A NJ commercial property's 'gross leasable area' (GLA) typically differs from the building's gross building area in that GLA:
AIncludes all mechanical and utility space
BIs the total floor area designed for tenant occupancy and lease, excluding common areas and mechanical space✓ Correct
CIncludes parking areas in the calculation
DIs always larger than the gross building area
Explanation
GLA is the total floor area designed for tenant occupancy and use from which rent is calculated. It excludes common areas (lobbies, restrooms, mechanical rooms) that are not directly leased to tenants.
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