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TysonsCity Website Commercial Building / Construction Glossary Page
Image COMMERCIAL BUILDING / CONSTRUCTION GLOSSARY and TERMS
(This page features common terms and definitions relating to commercial building / construction)		 Image
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Summary Description Source
Apron The area, within the truck court, where trucks are parked for loading and unloading. This area will be paved with more durable material than the rest of the truck court (e.g. concrete or other structural reinforcement vs. asphalt) to withstand the heavy loads being parked there.  NAIOP
Architecturally Topped Out The building is under construction and has reached its full height both structurally and architecturally (e.g., including its spires, parapets, etc.). CTBUH
Asking Rental Rate As stated by the broker or property owner, the rate per square foot for a particular spac  being marketed for lease. Disclosure o  th  basis for the asking rental rate is required (i.e., gross, modified net, etc.). (Synonyms: Quoted Rental Rate; Face Rate)  NAIOP
Automotive Parking Ratio Ratio of available standard parking spaces to the gross leaseable area of a property. Varies by property use with  labor-intensive operations needing higher parking ratios.   NAIOP
Available Space The total amount of space that is currently being marketed as available for lease in a given time period. It includes space that is available, regardless of whether the space is vacant, occupied, available for sublease, or available at a future date. Available Space excludes shadow space. If sub-tenant space is excluded from the calculation, the term Direct Available Space is recommended.   NAIOP
Backfill    
Bay Industrial building characteristic, interior building characteristics, space NAIOP
Bay Depth The distance from the front of the bay to the back of the bay NAIOP
Bay Width The distance from one side of the bay to the other. NAIOP
Biotech Space Highly specialized laboratory or research and development space in a structure that may include office space to support the operation of the technology in the building. The space is uniquely configured and developed to the needs of the biotech tenant and may require significant retrofit should the tenant vacate the space NAIOP
Brick A small modular structural component of a building made of pre-cast concrete. (Synonyms: cinder block, concrete masonry unit (CMU)) NAIOP
Brick and Block A building with the exterior façade made of a combination of brick and concrete block NAIOP
Brick and Glass A building with the exterior façade made of a combination of brick and glass NAIOP
Cap Rate Short for capitalization rate. Unleveraged initial yield on the investment expressed as the annual Net Operating Income divided by the property price (or asking sales price). [add CCIM variations of cap rate] NAIOP
Ceiling Height Distance from the floor to the inside overhead upper surface of the room. This measure will be higher than any hanging objects, beams, joists or truss work, unless there is a dropped ceiling NAIOP
Class A Buildings A classification used to describe an office building with asking gross rents based on a specified range between the top 30-40% of the office rents in the marketplace. Class A buildings are well located relative to the needs of major tenant sectors in the marketplace. Building systems (mechanical, HVAC, elevator and utility) have capacities that meet both tenant current requirements as well as anticipated future needs. Building services are characterized by above average maintenance, management and upkeep. Buildings must exhibit more than one of the characteristics but need not exhibit all of the characteristics to be considered Class A. Because property characteristics in different markets vary dramatically, property class definitions will remain subjective NAIOP
Class B Buildings A classification used to describe an office building with asking gross rents based on a specified range between the asking gross rents for Class A and Class C space. Class B buildings are in average to good locations relative to the needs of major tenant sectors in the marketplace. Building systems (mechanical, HVAC, elevator and utility) have adequate capacities to deliver services currently required by tenants. Building services are characterized by average to good maintenance, management and upkeep. Buildings must exhibit more than one of the characteristics but need not exhibit all of the characteristics to be considered Class B. Because property characteristics in different markets vary dramatically, property class definitions will remain somewhat subjective NAIOP
Class C Buildings A classification used to describe an office building with asking gross rents based on a specified range between the bottom 10% to 20% of office rents in the marketplace. Class C buildings are in less desirable locations relative to the needs of major tenant sectors in the marketplace. Building systems (mechanical, HVAC, elevator and utility) have capacities that may not meet current tenant needs. Building services are characterized by the existence of below average maintenance, management and upkeep. These buildings generally depend chiefly on a lower price to attract tenants. Buildings must exhibit more than one of the characteristics but need not exhibit all of the characteristics to be considered Class C. Because property characteristics in different markets vary dramatically, property class definitions will remain somewhat subjective NAIOP
Clear Height Distance from the floor to the lowest hanging ceiling member or hanging objects, beams, joists or truss work descending down into a substantial portion of the industrial work area. This is the most important measure of the interior height of an industrial building because it defines the minimum height of usable space within the structure. (Synonyms: Clear Headway, Clearance) NAIOP
Complete A building must fulfill all of the following criteria: Topped out structurally and architecturally8 Fully-clad9 Open for business, or at least partially occupiable CTBUH
Column Spacing The distance between posts or vertical supporting beams in the warehouse section of an industrial building. Column spacing defines the size of the bay and is usually expressed as width x depth. NAIOP
Competative Inventory Single and multi-tenant buildings that are on the market available for occupancy NAIOP
Composite A combination of two or more materials are used together in the main structural elements. Examples include buildings which utilize: steel columns with a floor system of reinforced concrete beams; a steel frame system with a concrete core; concrete-encased steel columns; concrete-filled steel tubes; a timber frame with a concrete core, etc. Where known, the CTBUH database breaks out the materials used in a composite building’s core, columns, and floor spanning separately. CTBUH
Concessions In negotiations to attract tenants, a landlord will sometimes grant concessions. These most often take the form of free rent but may also include lease buyouts, moving allowances and above-standard tenant improvement allowances. In a hot real estate market concessions are difficult to negotiate NAIOP
Concrete Block A small modular component of a building made of pre-cast concrete. (Synonyms: Cinder Block, Concrete Masonry Unit (CMU)) NAIOP
Construction Starts The total number of buildings or square feet where construction has been initiated as defined by the actual ground breaking. (See Under Construction.) NAIOP
Contract Rent The lease rates appearing in a signed contract of the lease. Typically the contract rate is the first year as opposed to the average rate over the term of the lease NAIOP
Conversion A general term applied to the change in usage of space. Space being converted is removed from current inventory and included in the under construction statistics for its planned use. (Example: An office building being converted to an apartment will be removed from current office inventory and included in the total of apartment space under construction.) NAIOP
Cross Deck A loading dock situated along two walls of the same building where goods are transferred from vehicle to vehicle for further distribution NAIOP
Delivered Total square footage and/or number of buildings that have completed construction (status changing from under construction to inventory) and received a certificate of occupancy (COO or CO) during a stated period. Once a certificate of occupancy has been issued, the property will be considered delivered whether or not tenants have occupied the space. (Synonyms: Completion; New Supply) NAIOP
Demolished Destroyed by controlled end-of-life demolition, fire, natural catastrophe, war, terrorist attack, or through other means intended or unintended. CTBUH
Direct New Space Space that is being offered for lease directly from the landlord or owner of a building, not space being offered by another tenant in the building trying to sublet a space that has already been leased NAIOP
Direct Vacancy Rate A measurement expressed as a percentage of the total amount of physically vacant space divided by the total amount of existing inventory. Space being built is not included in vacancy calculations. NAIOP
Distribution Building A type of warehouse facility designed to accommodate efficient movement of goods. NAIOP
Dock High Door An elevated loading dock door which usually opens at a height of four feet from the truck court level (the standard tractor trailer height). Some doors called semi-dock or half dock are constructed at a two-foot height to accommodate smaller sized delivery trucks. NAIOP
Door to Square Foot Ration The ratio of the total number of loading docks and drive-in doors to building square feet NAIOP
Drive in Door A door through which trucks, forklifts, and other machinery or vehicles can enter and exit without a change in elevation NAIOP
Energy Star Also referred to as an “EPA rating” or an “Energy Star rating,” The rating is a standardized national benchmark that helps architects and building owners assess energy use relative to similar buildings in the program. An Energy Star qualified building means the building meets EPA criteria for energy efficiency and displays the Energy Star building label. NAIOP
Flex Facility As its name suggests, an industrial building designed to allow its occupants flexibility of alternative uses of the space, usually in an industrial park setting. Specialized flex buildings include service center/showroom properties NAIOP
Government Office Building A building which is owned and/or at least 90 percent leased by public sector agencies NAIOP
Green Globes 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 threshold of at least 35 percent of the total number of 1,000 points, new and existing commercial buildings can be certified for their environmental achievements and sustainability by pursuing Green Globes certification that assigns a rating of one to four globes. See www.thegbi.org/green-globes-tools/default.asp? NAIOP
Gross Absorbtion Expressed in total square footage, gross absorption is the total change in occupied space over a given period of time, counting space that is occupied but not space that is vacated by tenants. The inclusion (Total Gross Absorption) or exclusion (Direct Gross Absorption) of sublease space must be disclosed. Gross absorption differs from leasing activity, which is based on the lease signed date and is the sum of all space leased over a certain period of time NAIOP
Gross Building Area The total floor area of a building usually measured from its outside walls. Rentable area can change but the building size is always the same square footage NAIOP
Gross Lease A lease in which the landlord received stipulated rent is obligated to pay all or most of the property’s operating expenses and real estate taxes. Disclosure of the specified costs of operation is required. (Synonym: Full Service Lease) NAIOP
Industrial Building A facility in which the space is used primarily for research, development, service, production, storage or distribution of goods and which may also include some office space. Industrial buildings are further divided into three primary classifications: manufacturing, warehouse and flex buildings. Typical characteristics of the different types of Industrial Buildings are shown in the matrix (see Page 12). Buildings must exhibit more than one of the characteristics but need not exhibit all characteristics to be considered under a specific classification NAIOP
Leased Space Leased space includes all space under contract, regardless of whether the space is currently occupied by a tenant. Leased space need not be physically occupied; it also includes space being offered for sublease. If sub-tenant space is excluded from the calculation, the term Direct Leased Space is recommended NAIOP
Leasing Activity Leasing activity is the sum total of the square footage of space that is committed to and signed under a lease obligation for a specified building or market in a given period of time, without regard to actual occupancy status. It includes direct leases, subleases, renewals, expansions of existing leases. If a sub-tenant space is excluded from the calculation, the term Direct Leasing Activity is recommended. Leasing activity also includes any preleasing activity in under construction, planned buildings or under renovation buildings NAIOP
LEED or Leadership in Energy and Environmental Design LEED® is a third-party certification program under the U.S. Green Building Council (USGBC). It is a nationally accepted benchmark for the design, construction and operation of high performance sustainable buildings. Certification levels are Certified, Silver, Gold and Platinum and based on points obtained in seven areas: Sustainable Sites; Water Efficiency; Energy & Atmosphere; Material & Resources; Indoor Environmental Quality; Innovation in Design. See www.usgbc.org NAIOP
Loading Dock An elevated platform at the shipping and delivery door of a building; usually at the same height as the floor of a motor truck or railroad car to facilitate loading and unloading. These doors can be exposed on the outside wall of the building or covered with a canopy or other construction to cover or protect the loading area NAIOP
Manufacturing Building A facility used for the conversion, fabrication and/or assembly of raw or partly wrought materials into products/goods NAIOP
Masonary Construction A construction technique in which materials, usually brick or concrete block, are stacked and grouted together to form walls that bear the weight of the structure NAIOP
Master Lease The controlling lease identifying the terms and length of the lease. Note: Subleases cannot extend beyond the term of the master lease. NAIOP
Medical Office Building A building which consists of 90 percent or greater medical tenancy. NAIOP
Metal Building A building with the exterior façade primarily made of metal (typically steel or aluminum). NAIOP
Mezzanine Office An office build-out on an intermediate floor that is smaller than the main floor. When a mezzanine office is built above space that would otherwise be an industrial work area this additional square footage is not counted in the total square footage of the building NAIOP
Mixed Use Development An income-producing property that comprises multiple significant uses within a single site or building such as retail, office, residential or lodging facilities. Example: Office buildings that contain ground-level retail and housing; sites that have separate office, retail and multi-family properties NAIOP
Mixed Structure Utilizes distinct systems, one on top of the other. For example, a steel/concrete indicates a steel structural system located on top of a concrete structural system, with the opposite true of concrete/steel. CTBUH
Modified Lease A lease in which the landlord receives a stipulated rent and the payment of the property’s operating expenses are divided between the lessor and lessee via specified terms in the lease; also called Modified Gross, Net-Net (Double Net), Net-Net-Net (Triple Net), etc., depending on the dgree to which the tenant or landlord are responsible for operating costs. NAIOP
Multi Tenant Office Building A building for which there are multiple lease obligations and less than 90% of which may be owner occupied. NAIOP
Net Absorbtion The net change in occupied space in a given market between the current measurement period and the last measurement period. Net absorption can be either positive or negative and must include decreases as well as increases in inventory levels. It is recommended to disclose the inclusion (Total Net Absorption) or exclusion (Direct Net Absorption) of sublease space in any calculation of net absorption. NAIOP
Net Effective Rent Expressed in dollars per square foot per month, it is all the concessions given by a landlord to entice tenants to lease space plus escalations and, in some cases, broker commissions. (Synonym: Landlord Effective Rent) 
(CoStar) Effective rent equals contract rent less free rent and any cash allowances such as a lease buyout or moving allowance. Escalations written into the lease are included in the calculation of effective rent. Tenant improvement allowances and brokerage commissions are not subtracted from the contract rate in calculating effective rent. (This definition is equivalent to the tenant effective rent. A landlord or lender would likely include all tenant improvement allowances and brokerage commissions in calculating effective rent.) 		 NAIOP
Net lease A lease in which the tenant pays all property operating expenses in addition to the stipulated rent. Disclosure of the specific expenses to be paid directly by the tenant is required. NAIOP
Net Rentable Area Net Rentable Area (NRA) [BOMA] - no definition provided NAIOP
Never Completed Construction work was halted and never resumed. The site may go on to accommodate a new building, different to the original design, that may or may not retain the original construction. CTBUH
Occupied Space Space that is occupied by a tenant, subtenant or owner. The total amount of occupied space is calculated by subtracting the amount of vacant space from the amount of inventory. If subtenant space is excluded from the calculation the term Direct Occupied.  Space is recommended. Disclosure of whether owner occupied buildings are included in any data statistic of occupied space is recommended. (Synonym: Total Occupied Space). NAIOP
Office Building A property providing environments conducive to the performance of management and administrative activities, accounting, marketing, information processing, consulting, human resources management, financial and insurance services, educational and medical services and other professional services.3 At least 75% of the interior space is designed and finished to accommodate office usage but the space may include other usage. NAIOP
Office Building Types Low-rise: fewer than seven stories above ground level. 
Mid-rise: Between seven and 25 stories above ground level. 
High-rise: Higher than 25 stories above ground level.4 
Disclosure of the number of stories in the building is recommended.		 NAIOP
Office Condo Individual units for lease or sale in a multi-tenant low-rise office building, typically a flex type structure of two stories NAIOP
Office Park A group of two or more properties that are contiguous (i.e., Real Capital Analytics counts the sale of ten buildings in the same park as one sale). (Synonym: office campus) NAIOP
Office Percentage The percentage of an industrial property that built out for office use. When a mezzanine office is built above space that would otherwise be an industrial work area, this square footage is not counted in the total footage of the building NAIOP
On Hold Construction work has been halted indefinitely, however, there is an intent to complete construction to the original design at a future date. CTBUH
Owner Occupied Building A building which is at least 90 percent occupied by its owner. NAIOP
Pre Cast Concrete Both the main vertical/lateral structural elements and the floor spanning system are constructed from steel reinforced concrete which has been precast as individual components and assembled together on-site. CTBUH
Pre Cast Foundation A construction technique in which concrete panels are manufactured off-site and transported to the site for assembly into a building NAIOP
Pre Leased Space Restricted to Under Construction. The amount of space in a building that has been leased prior to its construction completion date, or certificate of occupancy (COO or CO) date. Disclosure of whether proposed/planned projects are tracked in any data statistic of pre-leased space is recommended. NAIOP
Proposed A proposal must fulfill all the following criteria: Have a specific site with ownership interests within the building development team Have a full professional design team progressing the design beyond the conceptual stage Have obtained, or is in the process of obtaining, formal planning consent/legal permission for construction Have a full intention to progress to construction and completion Only projects that have been announced publicly by a credible source (e.g., the client) are included in the CTBUH “proposed” building listings. Due to the changing nature of early stage designs and client information restrictions, height data for proposals is always considered unconfirmed. CTBUH
Proposed Planned The status of a building that has been announced for future development but not yet started construction. The probability of successfully completing any individual development is difficult to determine at this stage. Criteria for inclusion in this data set are somewhat subjective NAIOP
Rail Door A door, generally side-loading, with access to railroad tracks, that facilitate the loading or unloading of railroad cars directly to or from the building NAIOP
Ramp Door A dock-high door that has been converted to a drive-in door by creating a ramp from ground level to dock level NAIOP
Reinforced Concrete Both the main vertical/lateral structural elements and the floor spanning systems are constructed from concrete which has been cast in place and utilizes steel reinforcement bars. CTBUH
Relet Space Sometimes called second generation space, refers to existing space that has previously been occupied by another tenant NAIOP
Renovation Also called Redevelopment.  A general term applied to the process of upgrading an existing improvement.  A qualifying question is whether the renovation changed the building class.  Renovations are included in under construction if the renovation is major, that is, where 75% or more of the building is not available for lease and the building generally requires a certificate of occupancy (COO or CO) to be made available for lease. Conversely, if less than 75% of the building is undergoing renovation, the building remains in total inventory. NAIOP
Rentable Building Area The total square footage of a building that can be occupied by, or assigned to a tenant for the purpose of determining a tenant’s rental obligation. Generally RBA includes a percentage of common areas including all hallways, main lobbies, bathrooms and telephone closets. [use BOMA definition] (Synonym: Gross Building Area) NAIOP
Retrofit Involves more functional and substantial changes to modernizing building systems such as HVAC, security, fire alarms and energy management. The tenant doesn’t move out and the square feet and space use doesn’t change. (Synonym: Renovation) Adaptive resuse refers to a process of retrofitting old buildings for new uses which allows structures to retain the building’s integrity while meeting the needs of modern occupants. NAIOP
Service Center Showroom A type of flex facility characterized by a substantial showroom area, usually fronting a freeway or major road. NAIOP
Shadow Space That portion of leased space which is vacant but not available space. Shadow space is difficult to measure. (Synonym: Phantom Space) NAIOP
Side Loading Dock A loading dock configuration designed to facilitate the loading and unloading of a vehicle through its side NAIOP
Single Tenant Office Building A building for which there is a single lease obligation or is 100 percent owner occupied NAIOP
Site Preparation Site work done before groundbreaking. Typically, leveling ground construction permits are issued prior to the “under construction” phase NAIOP
Split Face Block A split-face block is a concrete block molded with two units face-to-face and subsequently split apart. This process allows a more fnished appearance on the exposed surface NAIOP
Straight Line Rent The accumulation of rental income (including months that have free rent, discounted rent and fixed rent increases) divided by the term of the lease will give you a straight line rent. Straight-line rent provides a way to compare rents on various properties using a consistent methodology NAIOP
Steel Both the main vertical/lateral structural elements and the floor spanning systems are constructed from steel. Note that a building of steel construction with a floor system of concrete planks or concrete slab on top of steel beams is still considered a “steel” structure as the concrete elements are not acting as the primary structure. CTBUH
Structurally Topped Out The building is under construction and the highest primary structural element is in place. CTBUH
Sublease Space Sublet space that is available for sublease by a tenant (the "Sub-Lessor") to another lessee (the "Sub-Lessee") for a term equal to or shorter than that held by the tenant under its original lease with the landlord. NAIOP
Submarket Specific geographic boundaries that delineate core areas within a market area. Submarkets are non-overlapping, contiguous geographic designations having a cumulative sum that matches the boundaries of the market they are located within. Submarkets are defined by distinct boundaries dependent on market factors such as a core of competitive buildings NAIOP
Super Flat Floor Concrete floors with minimal variations in elevation from point to point. These floors are primarily found in automated warehouses where picking machinery and closed spaced racks mandate the need for level flooring to insure proper operation of the warehousing machinery. Super Flat Floors are specified according to the “F-Number System” which is government by The American Concrete Institute (#117) and Canadian Standards Association (#A23.1) standards for the specification and measurement of concrete floor flatness and levelness. NAIOP
Takeup When the space is physically occupied. (Synonym for leasing activity) NAIOP
Timber Both the main vertical/lateral structural elements and the floor spanning systems are constructed from timber. An all-timber structure may include the use of localized non-timber connections between timber elements. Note that a building of timber construction with a floor system of concrete planks or concrete slab on top of timber beams is still considered a “timber” structure as the concrete elements are not acting as the primary structure. CTBUH
Tilt Up Construction A construction technique in which concrete panels for structural support for the buildings are cast at the site and hoisted, or tilted, upright into vertical position. Although it is possible that a pre-cast panel would be similarly tilted into position, the term tilt-up is reserved for panels cast on site NAIOP
Total Inventory Total inventory is the total square footage of net rentable area in a specific market. It includes the net rentable area in buildings that have received a certificate of occupancy (COO or CO). (See delivered.) Total inventory increases when a new building is delivered and decreases when an existing building is destroyed, demolished or its use changes. Total inventory includes office properties under renovation when the renovation is not major and excludes office properties undergoing conversion.    Market analysts often create statistical subsets of inventory. Inventory analysis in certain markets may exclude selected building types or attributes such as minimum size thresholds, government, medical, single tenant or owner occupied buildings. Disclosure of the elements of a competitive inventory subset including market boundaries is required. (Synonym: Stock) NAIOP
Triple Net Lease The tenant pays taxes, maintenance and property insurance and all costs associated with their occupancy, including personal property taxes, janitorial services and all utility costs. The landlord is responsible for the roof, the structure and sometimes the parking lot. NAIOP
Trophy Building A landmark property that is well known by the public and highly sought by investors such as pension funds, insurance companies, foreign investors and tenants. Generally one-of-a-kind architectural designs, with the highest quality of materials and finish, expensive trim. These properties are more desirable than Class A buildings. (Synonym: AAA) NAIOP
Truck Court An area adjacent to a building’s loading docks comprising the loading and truck maneuvering areas. The most important measure of the truck court is the depth from the building to the end of the truck court, as this will impact truck maneuverability. NAIOP
Truck Terminal A specialized distribution building for redistributing goods from one truck to another as an intermediate transfer point. These facilities are primarily used for staging loads (rather than long-term storage) and possess very little if any storage area. NAIOP
Truss A framework of beams forming a rigid structure (as a roof truss) NAIOP
Truss Height Distance from the floor to the bottom edge of any truss used to support the ceiling or roof of a building. If there are any hanging objects, beams or joists below the truss the clear height will be lower than the truss height. NAIOP
Under Construction Buildings where either: a) actual ground breaking has occurred (site excavation for foundation work) and construction is ongoing (not abandoned or discontinued) but for which a certificate of occupancy (COOO or CO) has not yet been issued; or b) properties undergoing conversion to office from another use; or c) properties undergoing a major renovation where 75 percent or more of the building is not available for least and the building generally requires a certificate of occupancy (COO or CO) to be made available for lease. NAIOP
Usable Area SEE “STANDARD METHOD FOR MEASURING FLOOR AREA IN OFFICE BUILDINGS” (An American National Standard) Approved June 7, 1996 by American National Standards Institute, Inc. Secretariat Building Owners and Managers Association International REF: ANSI/BOMA Z65.1-1996). The document is available for sale on both the ANSI (www.ansi.org) and BOMA (www.boma.org) web sites. NAIOP
Vacancy Rate A measurement expressed as a percentage of the total amount of vacant space divided by the total amount of inventory. This measurement can be applied to either an individual building or an aggregation. If sub-tenant space is excluded from the calculation, the term Direct Vacancy Rate is recommended. (Synonym: Overall Vacancy Rate) NAIOP
Vacant Space Inventory that is not currently occupied. If sub-tenant space is excluded from the calculation, the term Direct Vacant Space is recommended. (Synonym: Total Vacant Space) NAIOP
Vision A scheme that is either: In the early stages of inception and does not yet fulfill the criteria for a “proposed” building; was a proposal that never advanced to the construction stage; or is a theoretical proposition with no intention of being built. CTBUH
Warehouse A facility primarily used for the storage and/or distribution of materials, goods, and merchandise. Typical characteristics are shown in the matrix NAIOP
Year Built The year the building delivered to the market due to completed construction NAIOP



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