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The IRS tax code that says the seller of a property can defer the payment of any capital gains on a sale if he uses the proceeds of that sale to buy a “like” property.

The major or prime tenant in a shopping center, building,etc.

Rating assigned to a particular building, often very subjective.

Building class composed of typically newer buildings with superior construction and finish in excellent locations with easy access, attractive to credit tenants and which offer a multitude of amenities such as one-site management or covered parking. These buildings, of course, command the highest rental rates in their sub-market. Note that a building of this class in one sub-market might rank lower if it were located in a distinctly different sub-market just a few miles away containing a higher end product.

The three building classes following Class "A" properties. As the "Class" of the building decreases, one component or another such as age, location or construction of the building becomes less desirable.

Total Building Square Ft

An agent licensed by the state to represent buyers or sellers of property; normally receive a commission.

Another way of determining the value of a building. (pre-tax cash flow divided by down payment expressed as a %)

How much of the commission the listing broker is willing to split w/ the broker who brings a tenant to lease a space.

The percentage rate of return estimated from the net income of a piece of property. The rate that is considered a reasonable return on investment (on the basis of both the investor's alternative investment possibilities and the risk of the investment.) Used to determine and value real property through the capitalization process. Net Operating Income (NOI) divided by asking price expressed as %.

(1) Multiple suites/spaces within the same building and on the same floor which can be combined and rented to a single tenant. (2) A block of space located on multiple adjoining floors in a building (i.e., a tenant leases floors 6 through 12 in a building).

The deal between the seller in a property sale or the owner in a property lease that says that the broker listed in the deal gets paid a commission on the sale or lease of the property regardless of whether that broker participates in the transaction. If the transaction occurs, the principal (seller or owner) has to give the broker the commission regardless of how the transaction came about.

The abbreviation for the amount of rentable space in a shopping center. Does not include common areas, parking lots, etc., just the space that can be leased.

It’s a lease (just like leasing a building) for use of land, typically used in areas where there is not much open land available for purchase or development (such as New York, San Francisco, etc.)

A lease in which the tenant pays a flat sum for rent out of which the landlord must pay all expenses such as taxes, insurance, maintenance, utilities, etc.

A property for which the seller has accepted the buyer's offer to purchase is referred to as being this. Generally, the prospective buyer is given a certain period of time in which to perform its due diligence and finalize financing arrangements. During this period of time, the seller is precluded from entertaining offers from other buyers.

Lease Rental Rates Most rental rates expressed in which four ways? Most of the United States quotes rental rates on the __/__/__ basis?

A property in which the tenant occupying the property pays most, if not all of the property expenses.

The “income” a building generates (or the money left over after the building’s expenses are taken away from the money generated from rent and other sources of revenue such as parking, etc.)

A listing given to any broker without liability to compensate any broker except the one who first secures a buyer who is ready, willing, and able to meet the terms of the listing, or secures the acceptance by the landlord of a satisfactory offer; the lease of the property automatically terminates the listing.

The listing agent has the option of entering the price into this field to keep the price confidential. To do this, enter the price and next to the price field check the box that says ____________. By entering the price in this field, the price will not be listed when viewing the listing and will simply display "Not Disclosed" in the price field. If a search is performed and the searching criteria meets the amount entered as this, the listing will appear in the search results page.

The intent of this ratio is to provide a uniform method of expressing the amount of parking that is available at a given building. Dividing the total rentable square footage of a building by the building's total number of parking spaces provides the amount of rentable square feet per each individual parking space (expressed a 1/xxx or 1 per xxx). Dividing 1000 by the previous result provides the ratio of parking spaces available per each 1000 rentable square feet (expressed as x per 1000).

In real estate, one of the chief parties in the transaction, meaning once the transaction is complete, this person has either sold a property s/he owned, bought a property that s/he now owns, leased a property s/he owns to a tenant, or acted as a tenant and leased a property that s/he will occupy. (To be this on LoopNet you must select one of the following roles when you become a member: Owner/Investors, Acquisitions Managers, Tenants, Landlords, Developers, Asset Manager, Site Selection Managers, Dispositions Manager, and Corporate R.E. Executives). The employer (e.g., landlord) of an agent or broker. This is the agent's or broker's client.

LoopNet supplied unique identifier. Sometimes referred to as Listing ID.

Two exchangeable terms which are the Assessor's identification number for a specific property. LoopNet allows agents to list either of these terms instead of address for LAND listing ONLY. The latter of these two exchangeable terms is not universal and is mostly used in CA. Other states use the term former term.

Lease which requires tenant to pay property expenses such as taxes, insurance, maintenance, utilities, etc.