print header

# 1 Commercial Real Estate Information Company

Commercial Real Estate Glossary

Health Care
According to CoStar these facilities encompass numerous property uses, which include the following major secondary types: Assisted Living, Congregate Senior Housing, Continued Care Retirement Community, Hospital, Rehabilitation Center, and Skilled Nursing Facility. Within each secondary type, there may be numerous subtypes.
"Gas Fired" are heated coils with blowers. Other types are: Electric, Oil Fired and Oil
Steam. "Yes" means there is heat, but the type has yet to be confirmed. "None" means there is no heat.
High Speed Internet
Indicates that the building is wired specifically for Internet use, to avoid the typical on-line traffic associated with use of dial up services.
High Vacancy Property
A sale of a property that had a high vacancy where absorption will be an issue for the buyer and the market value was affected. It is important to understand why the vacancy is high -- is it due to Physical or Functional Obsolescence or possibly Economic Obsolescence from outside the property. Price must be below common market levels due to prolonged vacancy or stagnant market conditions. Vacancy created from departed owner-user is generally not sufficient to qualify as high-vacancy status. High Vacancy thresholds may vary by property types, but generally will be above 50%.
Historical Site
The declaration of a property as having special historical significance, and possibly imposing restrictions on its use or ability to redevelop the property in the future.
This type of property includes all types of lodging facilities including hotels and motels. Hotels are facilities that offer lodging accommodations and a wide range of other services, e.g., restaurants, casinos, convention facilities, meeting rooms, recreational facilities, and commercial shops. These facilities can be labeled Resort, Mixed Use, Luxury, Full Service, Extended Stay, Convention, Apartment, All Suite, etc.

Motels are single buildings or group of buildings typically located on or near a highway and are designed to serve the needs of travelers by offering lodging and parking; may also provide other services and amenities, e.g., telephones, food and beverages, meeting and banquet rooms, recreational areas, swimming pool, shops.
A facility that offers lodging accommodations and a wide range of other services, e.g., restaurants, convention facilities, meeting rooms, recreational facilities, casinos, and commercial shops. This type of facility is not primarily designed to serve those traveling by car, such as a motel.
Indicates whether this is the tenant's main headquarters ("Main Headquarters'), a branch office ("Branch Office") or it is a franchise ("Franchise").