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 .
Hawaii Provision Using Usable Area as the Measurement Standard for Midtown Manhattan Modern Office Towers The Hawaii Provision is a concept introduced in Midtown Manhattan, specifically for modern office towers, that emphasizes the utilization of usable area as the primary measurement standard. By focusing on usable space instead of gross leasable area (GLA) or rentable square footage (RSF), the Hawaii Provision aims to provide a more accurate reflection of the actual space available for efficient occupancy and productivity within Midtown Manhattan's bustling business district. Under the Hawaii Provision, the usable area measurement standard considers only the office space that can be directly utilized by tenants for their specific business operations. This excludes common areas, hallways, restrooms, and other non-usable spaces, which are typically included in the GLA or RSF calculations. By eliminating these non-usable areas, the Hawaii Provision gives a clearer representation of the actual functional space available for tenants, ensuring fair and accurate assessments of rental costs. Midtown Manhattan's modern office towers adopting the Hawaii Provision as the measurement standard can offer several distinct benefits to tenants. First and foremost, tenants can have a more precise understanding of the actual area they can utilize for their business functions, allowing for optimal planning and space allocation. This increased transparency can help tenants make informed decisions regarding their office needs, leading to better space utilization, cost efficiency, and improved overall productivity. Moreover, the Hawaii Provision encourages developers and property owners to design and construct office towers that prioritize usable space efficiency. They are consequently motivated to allocate more square footage to tenants and reduce non-usable areas, making their properties more attractive and competitive within the market. This incentive also drives innovation in office design and layout, resulting in more modern, ergonomic, and flexible workspaces that align with evolving business requirements and practices. Different types of Hawaii Provision Using Usable Area as the Measurement Standard may include "Hawaii Provision Certified Midtown Manhattan Modern Office Towers," "Hawaii Provision Compliant Commercial Properties in Midtown Manhattan," or "Hawaii Provision Verified Workspace Solutions." These designations can help distinguish buildings that adhere to the Hawaii Provision measurement standard and provide tenants with the highest level of usable space efficiency. Overall, the Hawaii Provision's focus on usable area as the measurement standard for Midtown Manhattan modern office towers revolutionizes the approach to office space evaluation. It ensures accurate representation of usable space, promotes effective space utilization, encourages innovation in office design, and ultimately enhances the overall tenant experience in Midtown Manhattan's vibrant business landscape.
