(pronounced YU-zeh-behl skwair FU-tij)
Let’s start off by saying that we have to admit that we don’t exactly know why commercial real estate calculation terms like this are always capitalized like German nouns. Maybe it’s so that they are recognized as official terms and not just casual phrases. Calculating different types of square footage is a big deal, you know. In fact, it was only in April 2008 that the International Facility Association (IFMA) and Building Owners and Managers Association International (BOMA) announced a common definition for floor area measurements. This meeting of the minds was quite welcome because it should make it easier for companies that own or lease a wide array of buildings to define their space more accurately, which obviously affects them financially in a variety of ways. But we digress… Usable Square Footage is considered “the area contained within the demising walls of the tenant space.” To calculate the total Usable Square Footage, then multiply Net Square Footage by the Circulation Factor or, more simply, add the Net Square Footage to the circulation space. See the other terms listed below – it’ll help you sort this out.
See also: demising wall, Net Square Footage, Circulation Factor, Building Common Area