Terminology

Availability RateThe percentage of all space being marketed for sale or lease at a period of time in a given area.Vacancy RateThe percentage of all unoccupied space being marketed for sale or lease at a period of time in a given area.Gross Lease (GRS)A lease agreement in which the stated rent being paid to the landlord includes property taxes and property insurance.Gross AbsorptionTotal number of properties leased or sold for occupancy at a period of time in a given area.Triple Net Lease (NNN)A lease agreement whereby the tenant is obligated to pay for all the operating expenses, i.e. property taxes, property insurance, and facility maintenance.

In Los Angeles Commercial Real Estate