This office lease form describes provisions for using the area in the case of a single tenancy floor, within the exterior walls of the New Building, or, in the case of a multiple occupancy floor, within the exterior walls, party walls or corridor walls which is considered to be usable area .
California Provision Using Usable Area as the Measurement Standard for Midtown Manhattan Modern Office Towers The California Provision establishes a standardized measurement standard for determining the usable area of modern office towers in Midtown Manhattan. This provision ensures transparency and accuracy in assessing the actual size of office spaces, benefiting both tenants and property owners. By using usable area as the measurement standard, the California Provision offers a fair and consistent method to compare and evaluate office spaces in Midtown Manhattan. Under this provision, usable area refers to the floor area that can be utilized for office activities, excluding any non-usable spaces such as mechanical rooms, elevator shafts, and stairwells. This measurement standard allows tenants to have a clear understanding of the actual space they are leasing, enabling them to make informed decisions that align with their specific business needs. Property owners also benefit from this standardized measurement standard, as it ensures they provide accurate information regarding the size of their office spaces, fostering trust and transparency in the market. The California Provision recognizes the importance of a consistent measurement approach and establishes guidelines to ensure uniformity across Midtown Manhattan's modern office towers. By using usable area as the primary metric, this provision eliminates discrepancies that may arise due to different interpretations of measurement metrics. This, in turn, promotes fairness in the real estate market and encourages healthy competition among property owners. Different types of California Provision Using Usable Area as the Measurement Standard for Midtown Manhattan Modern Office Towers include: 1. Single-tenant office towers: These are office buildings that are occupied by a single tenant, offering exclusive and dedicated spaces tailored to their specific needs. The usable area of each floor or unit within such towers is accurately measured as per the California Provision, enabling tenants to assess the space's suitability for their operations. 2. Multi-tenant office towers: These office buildings feature multiple tenants occupying different units or floors within the tower. Each unit's usable area is measured using the California Provision, allowing for fair comparisons and assessments among various available spaces. This measurement standard ensures that each tenant has a reliable basis for evaluating the square footage and layout of their potential office space. 3. Mixed-use office towers: Some office towers in Midtown Manhattan incorporate a mix of office spaces, retail areas, and residential components. The California Provision ensures that only the usable area dedicated to office activities is considered in measurement calculations, excluding any non-office spaces. This allows for accurate assessments of office spaces within mixed-use towers and enables potential tenants to evaluate the appropriate usable area for their business needs. In conclusion, the California Provision establishes a standardized measurement standard for usable area in Midtown Manhattan's modern office towers. It ensures transparency, accuracy, and consistency in assessing office space, benefiting both tenants and property owners. By providing a fair and reliable basis for comparison and evaluation, this provision fosters a trustworthy real estate market and supports informed decision-making for businesses seeking office spaces in Midtown Manhattan.California Provision Using Usable Area as the Measurement Standard for Midtown Manhattan Modern Office Towers The California Provision establishes a standardized measurement standard for determining the usable area of modern office towers in Midtown Manhattan. This provision ensures transparency and accuracy in assessing the actual size of office spaces, benefiting both tenants and property owners. By using usable area as the measurement standard, the California Provision offers a fair and consistent method to compare and evaluate office spaces in Midtown Manhattan. Under this provision, usable area refers to the floor area that can be utilized for office activities, excluding any non-usable spaces such as mechanical rooms, elevator shafts, and stairwells. This measurement standard allows tenants to have a clear understanding of the actual space they are leasing, enabling them to make informed decisions that align with their specific business needs. Property owners also benefit from this standardized measurement standard, as it ensures they provide accurate information regarding the size of their office spaces, fostering trust and transparency in the market. The California Provision recognizes the importance of a consistent measurement approach and establishes guidelines to ensure uniformity across Midtown Manhattan's modern office towers. By using usable area as the primary metric, this provision eliminates discrepancies that may arise due to different interpretations of measurement metrics. This, in turn, promotes fairness in the real estate market and encourages healthy competition among property owners. Different types of California Provision Using Usable Area as the Measurement Standard for Midtown Manhattan Modern Office Towers include: 1. Single-tenant office towers: These are office buildings that are occupied by a single tenant, offering exclusive and dedicated spaces tailored to their specific needs. The usable area of each floor or unit within such towers is accurately measured as per the California Provision, enabling tenants to assess the space's suitability for their operations. 2. Multi-tenant office towers: These office buildings feature multiple tenants occupying different units or floors within the tower. Each unit's usable area is measured using the California Provision, allowing for fair comparisons and assessments among various available spaces. This measurement standard ensures that each tenant has a reliable basis for evaluating the square footage and layout of their potential office space. 3. Mixed-use office towers: Some office towers in Midtown Manhattan incorporate a mix of office spaces, retail areas, and residential components. The California Provision ensures that only the usable area dedicated to office activities is considered in measurement calculations, excluding any non-office spaces. This allows for accurate assessments of office spaces within mixed-use towers and enables potential tenants to evaluate the appropriate usable area for their business needs. In conclusion, the California Provision establishes a standardized measurement standard for usable area in Midtown Manhattan's modern office towers. It ensures transparency, accuracy, and consistency in assessing office space, benefiting both tenants and property owners. By providing a fair and reliable basis for comparison and evaluation, this provision fosters a trustworthy real estate market and supports informed decision-making for businesses seeking office spaces in Midtown Manhattan.
