Gross leasable area (GLA) in the retail development industry is a term applied to shopping malls, lifestyle centers, outlet malls and other retail centers to indicate the amount of floor space available to be rented. Specifically, gross leasable area is defined as the total floor area designed for tenant occupancy and exclusive use, including any basements, mezzanines, or upper floors. It is typically expressed in square metres (although in some places such as the United States and Canada, the square foot is used). It is measured from the center line of joint partitions and from outside wall faces. That is, gross leasable area is the area for which tenants pay rent, and thus the area that produces income for the property owner. McArthur Glen Designer Outlet, Swindon, England, a shopping mall built within a disused railway engine works. ... The term lifestyle center is used in a variety of ways. ... The Nebraska Crossing Outlet Mall An outlet mall (or outlet centre) is a type of shopping mall, in which manufacturers sell their products directly to the public through their own branded stores. ... A townhouse with basement windows showing A basement is one or more floors of a building that are either completely or partially below the ground floor. ... Mezzanine may refer to: Mezzanine (architecture), an intermediate floor between main floors of a building In technology, a mezzanine can refer to a thin sheet of plastic insulating different parts of circuitry from each other in cramped environments, such as laptop interiors. ... The or meter (see spelling differences) is a measure of length. ... A foot (plural: feet or foot;[1] symbol or abbreviation: ft or, sometimes, â² â a prime) is a unit of length, in a number of different systems, including English units, Imperial units, and United States customary units. ...
For centers having a grossleasablearea of 25,000 to 400,000 square feet: 4.0 spaces per 1,000 square feet of grossleasablearea.
For centers having a grossleasablearea from 400,000 to 600,000 square feet: From 4.0 to 5.0 spaces per 1,000 square feet of grossleasablearea, with the number of spaces calculated in linear progression between 400,000 and 600,000 square feet of grossleasablearea.
Shopping centers with 100,000 to 200,000 square feet of grossleasablearea having cinemas with up to 450 seats, and centers with over 200,000 square feet of grossleasablearea having cinemas with up to 750 seats, can be accommodated without providing parking spaces in addition to those imposed by the overall parking indices.
This group of acquisitions will expand the REIT's total grossleasablearea by more than 5 million square feet, geographically diversify the Company's portfolio into three additional states and strengthen its presence in several of the top trade areas in the U.S. as one of the country's leading mall owners and developers.
This growth is in addition to the Company's record $260 million in acquisitions executed in 1997, when the grossleasablearea of properties owned or under management in Glimcher's combined portfolio increased 37.2%.
A unique bi-level regional mall with nearly 1.1 million square feet of grossleasablearea, Eastland Mall features an ice rink at the center court that is visible from both levels via an open atrium.