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Glossary of Real Estate Terms

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June 12, 2019

A

Assignment – An agreement conveying the leasehold interest, including the financial responsibilities, from one tenant to another. Not synonymous with sublease.

Absorption – The amount of space that is leased and taken off the market during a given time frame.

Amenity – A feature of a building or neighborhood that supplements and eases the daily tasks of an office tenant.

B

Base Building Improvements – A defined set of property improvements to the structural elements of a building and its common areas, such as the shell and core, HVAC systems, lobbies restrooms, corridors, etc. These would be exclusive.

Base Rent – The amount of rent to be paid during the term of the lease exclusive of any other payments to the landlord, e.g. Percentage rent or expense adjustments.

C

CAM Charge – CAM (Common Area Maintenance) charges refer to the fees collected by the landlord of maintaining and operating common areas of a retail property, such as courtyards, walkways, restrooms, etc.

Cancellation Clause, Capital Contribution, Certificate of Occupancy, Class A Building…

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