What does the term "Building Rentable Area" refer to?

The term "Building Rentable Area" specifically refers to the sum of all floor rentable areas within a building. This encompasses all the spaces that are available for lease to tenants, including individual office spaces, conference rooms, and any other areas that can be used for tenant purposes. It is a critical measurement in real estate leasing because it determines the amount of space available for rental income, which directly impacts a landlord's revenue.

Recognizing that the rentable area does not typically include common areas shared by all tenants—such as hallways, lobbies, and elevators—clarifies why the other options do not accurately represent the term. Common areas may be necessary for a comprehensive understanding of a building's space efficiency but are not included in the calculation of the Building Rentable Area. Rather, rentable area is focused strictly on those portions of a building that are exclusively designated for tenant use.