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Great Recession, The

Definitions

The most severe economic recession in the US since the Great Depression; applies to both the US recession, officially lasting from December 2007 to June 2009, and the ensuing globa ...

Gross Building Area

Definitions

The total floor area measured from the exterior of the walls, including below-grade space but excluding unenclosed areas.

Gross Domestic Product (GDP)

Definitions

An estimated value of the total worth of a country’s production and services, within its boundary, by its nationals and foreigners, calculated over the course of one year.

Gross Floor Area (GFA)

Definitions

The sum of the floor areas of the spaces within the building, including basements and mezzanine and intermediate-floored tiers; excludes non-enclosed (or non-enclosable) roofed-ove ...

Gross Income Multiplier (GIM)

Definitions

A capitalization technique that uses the ratio between the sale price of a property and its potential gross income or its effective gross income; may be multiplied against the inco ...

Gross Leasable Area (GLA)

Definitions

The total area rented to tenants, including basements and mezzanine and intermediate-floored tiers; measured from the outside wall surface to the center of interior partitions.

Gross Lease

Definitions

A commercial lease where the tenant pays a base rent and the landlord pays for all operating expenses related to the tenant’s occupancy of the space such as common area maint ...

Gross National Product (GNP)

Definitions

An estimated value of the total worth of production and services, by citizens of a country, on its land or on foreign land, calculated over the course on one year.

Gross Negligence

Definitions

A conscious and voluntary disregard of the need to use reasonable care, which is likely to cause foreseeable grave injury or harm to persons, property, or both; conduct that is ext ...

Gross Rent Multiplier (GRM)

Definitions

The factor by which gross rent is multiplied in order to obtain an estimate of value or the ratio between sale price and potential gross income (PGI) or effective gross income (EGI ...

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