What is Gross Leasable Area (GLA) in Retail? Explained

Gross Leasable Area (GLA) represents the entire floor space within a commercial property open for tenant leasing. It includes all areas available for rent to retailers, excluding spaces like common areas, hallways, and utility rooms. A vital metric for property stakeholders, including owners, developers, and retailers, GLA plays a crucial role in evaluating the revenue potential of shopping centers or malls. It serves as a fundamental measure of the total leasable space accessible to tenants, impacting rental rates and contributing significantly to the overall valuation of the property.