Tenants that are considered "credit worthy" and attract or generate traffic for a retail facility (e.g. Amps fields allow a range from low to accommodate different sources of power. Any service rated over 400 amps is typically commercial service although 200-400 amps are generally seen in flex buildings and 800+ for heavy industrial buildings. The basic unit of electrical current is measured in Amperes, often referred to as Amps. The basic flow of electrons in a conductor is called current. Items on the list with an asterisk have additional separate definitions found within this glossary.Īmenities are broken out between the unit and community level.Ĭontinuous repayment schedule of loan principal over a period of time until the debt is paid off. The list below identifies tracked Amenities. Special characteristics that can enhance a property's appeal. This term is applicable when several properties are financed under one blanket mortgage with each property allocated its share of the total mortgage balance. The portion of the principal amount of a portfolio loan associated with each individual property. Note that when CoStar is able to secure the actual price of a property, that will be used in lieu of the "allocated price," and the "allocated price" of any other properties in the portfolio will be adjusted accordingly. These market average values allow us to determined each property's portion of the actual portfolio value. Used in some Multi-Property/Portfolio Sales Comparables - If an individual property's sale price is unknown, CoStar will estimate a sale price for each property in the portfolio using market average sales prices for that property type and period of time to develop both a market average price for the portfolio and each individual property in the portfolio. Red exclamation marks serve as the notification symbol to highlight the new properties and new spaces. In CoStar's database this must be part of a land or building record.Ī CoStar Property, Comps, and Tenant feature that highlights new properties, spaces, or tenants matching the criteria of a saved survey. See also transferable development right (TDR). Such rights may be acquired to construct a building above the land or building of another or to protect the light and air of an existing or proposed structure on an adjoining lot. The right to undisturbed use and control of designated air space above a specific land area within stated elevations. Examples would include a factory converted to a retail use or an office building converted to a school.Ĭompressed air lines for operating machinery, such as pneumatic tools. See also: Gross Absorption, Net Absorption.Ī building converted to a different use in order to meet contemporary demand. (In that case, the additional space would be counted in absorption.) Pre-leasing of space in non-existing buildings (e.g., Proposed, Under Construction, Under Renovation) is not counted in absorption until the actual move-in date. Lease renewals are not factored into absorption unless the renewal includes the occupancy of additional space. Refers to the change in occupancy over a given time period. Owners that convert their buildings to residential use are also eligible for tax incentives. Tenants that lease space in these buildings are eligible for tax and energy expense discounts. Used in conjunction with the Downtown Revitalization Act passed to assist in filling commercial buildings that were built prior to 1975. No tenants could occupy the structure without substantial renovation work. This can also include buildings with the prior status of Existing that have fallen into disrepair and are unusable (e.g., 1 Star, and Building Class = Obsolete). All work has ceased and there are no active building permits. This status can include projects that were formally Proposed, Final Planning, Deferred, Under Construction or Under Renovation. Project has been terminated and is no longer being pursued or, the building is obsolete or non-competitive. Abbreviation for Air Conditioning - only used if buildings are completely air conditioned.
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