GLA (Gross Leasable Area)

Gross Leasable Area (GLA) refers to the total area in a commercial property that can be rented out to tenants. This includes all spaces that generate rental income, such as retail stores, office spaces, and storage areas, but excludes common areas like hallways, restrooms, and elevators. GLA is an important measure for property owners and investors as it helps determine the potential revenue a property can generate from leasing. Understanding GLA is essential for evaluating the value and performance of commercial real estate.