When looking for commercial real estate for lease, one of the most important considerations is to determine the amount of space that your operations will need. An office space calculator can help you decide on the floor space you need based on the amount of staff you have and the type of layout you’re looking for. However, once you’ve got the magic number – there’s still plenty to understand when it comes to leasing office space.

Commercial property jargon can be daunting and the terminology used just to describe the empty space can be complicated. Usable area pertains to the actual occupiable area of floor space for an office suite. The usable area of a building can change with the renovation and remodelling of floors. Building codes and updates can also affect the amount of usable area that is available. The usable area is calculated by calculating the amount of space from the outside wall to any dividers or interior walls. It is also sometimes referred to as net rentable area.

Floor rentable area – this is the fixed measure of the tenant’s pro-rata portion of an office floor, excluding any area that is lost to major vertical penetrations such as stairs or elevator shafts. The floor rentable area remains fixed for the life of the building regardless of remodelling and includes the individual tenant’s portion of any building common areas that are a service to the tenant, such as restrooms, common corridors and the elevator lobby on the tenant’s specific floor. Building common area – these are the common services and areas that are shared by tenants including restrooms, elevator lobbies and janitor closets. These areas are calculated as part of the floor rentable area for a tenancy but are not a part of the usable area.