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MinnisCRE Newsletter

Welcome to the MinnisCRE Newsletter!

Assuming you want to get a great deal and maximize ROI on your next lease – This is a good place to start 🙂

Whether you’re in the market now or just curious about commercial real estate… Check out our newsletter for current Silicon Valley | SF Bay Area CRE tips, trends and news.

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MinnisCRE Glossary

Are you puzzled by or need a refresher on MinnisCRE terms or abbreviations? Then you’re in the right place. MinnisCRE’s glossary lists and explains commonly used terms in the industry and throughout the blog. This is the best place to refer back to and familiarize yourself with the various distinctions. If you’d like something explained that’s not listed here, then please contact me.

Glossary

All | # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

There are currently 19 names in this directory

Availability

Vacant or occupied space that is offered for lease, sublease or sale (to an owner occupant).

Build-to-Suit

A developable parcel that an owner will improve to suit the needs of a particular tenant. Construction does not begin until a tenant has committed to the property.

Building Base

Total square footage developed. Colliers tracks office buildings from 3,500 square feet, R&D from 5,000 square feet, industrial buildings from 7,500 square feet, and warehouse buildings from 10,000 square feet.

Class A Office

Modern, steel-framed low, mid or high-rise structures used predominately for office tenants.

Class B Office

Wood and steel mix framed low to mid-rise structures and older brick or concrete structures used predominately for office.

Critical Elements

As it relates to the office moving process, these are fundamental items to your business, if they were missing, damaged or not operational then it would greatly impact your ability to conduct business. These items typically require extra attention to detail, are difficult/expensive to replace, repair or relocate and may have longer lead times; and therefore, must be identified early in the move process in order to plan effectively. Supplemental consultants, personnel, permits or certifications may even be required.

Direct Space

Space available through a landlord/owner directly.

Effective Net Absorption

Effective net absorption is a Colliers measurement of the net change in available space during a given period of time after adjustments for space taken off the market. Effective net absorption utilizes the same formula to measure change of occupancy as a net absorption except that it treats any newly available space, whether available direct or for sublease, as if it is coming onto the market vacant.

Gross Absorption

The total square footage sold (to owner/occupants) or leased during a given time period.

Industrial/Light Industrial

Generally, buildings with drive-in and/or dock-high truck capabilities, clear heights of less than 20 feet and parking ratios of 2.0/1,000 or less.

PSF

Per square foot.

PSF/MO

Per square foot per month.

R&D

Research and development. As a CRE asset class – generally, one to three story structures with extensive glass, heavy office buildout and around 3.5/1,000 parking ratio. Buildings may include high-end production facilities, laboratory space and grade level truck doors.

Rental Rates (Colliers)

As it relates to Colliers market stats in Silicon Valley - all rental rates for office are calculated on a Full Service basis unless otherwise noted. All rental rates for R&D, Industrial and Warehouse space are calculated on a NNN basis unless otherwise noted.

Square foot or square feet.

Silicon Valley

Colliers International defines Silicon Valley as all of Santa Clara County plus Fremont, for the purposes of its market reports.

Total Available or Total Availability

The sum of available direct and available sublease space – includes both vacant and occupied space.

Vacant/Vacancy

Vacant – space that is not occupied. Vacancy – the amount of vacant inventory available, including both vacant direct and vacant sublease space. Typically shown as a percentage of the building base or square footage amount.

Warehouse/Distribution

Generally, buildings with a minimum 20-foot clear height, dock-high truck loading and parking ratios of 2.0/1,000 or less.

Disclaimer: The views expressed on this website/blog are mine alone and do not necessarily reflect the views of my employer, MinnisCRE. The information furnished has been obtained from sources I deem reliable and is submitted subject to errors, omissions and changes. Although I have no reason to doubt its accuracy, I do not guarantee it. All information should be verified by the recipient prior to lease, purchase, exchange, or execution of legal documents.

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