Total square footage of all buildings used for business operations excluding vertical penetrations (stairways, elevators, and mechanical areas), and including common areas (lobbies, passageways, vestibules, and bathrooms). Rentable property may also include exterior space (except parking areas) that is actively used in Borrower’s business operations including outdoor storage yards for general contractors, trucking companies, and moving and storage companies, boat slips and docks for marinas.
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