Square Feet

Square feet is the standard unit for measuring commercial space in the U.S., found by multiplying a space’s length by its width. It is the basis for pricing leases, set per square foot per year, for comparing properties, and for working out building ratios.

There is an important split between usable square feet, the space a tenant actually occupies, and rentable square feet, which adds a share of the common areas. The gap between the two is the load factor, sometimes called the add-on factor, and it raises the total rent a tenant ends up paying.