- Gross leasable area
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 Statesand 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.
It is well established that for a retail store with only one major vendor, the measurements Gross Floor Area (GFA) and Gross Leasable Area (GLA) are essentially equal.
The Gross Leasable Area (GLA) means the Total Floor Area designed for tenant occupancy and exclusive use. Except for the recent small addition, a single major vendor in a retail building is the only tenant in the total square foot (TFA) store. Since the owner essentially owns the entire building, and all areas are essentially used for the operation of the store, then for Loblaws GFA = GLA.
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