Net Absorption is the square feet leased in a specific geographic area or defined sub-market over a fixed period of time and offset by space vacated in the same area during the same period.

The Net Operating Income (NOI) represents all revenue from the property, minus operating expenses. This metric does not count capital expenditures and debt service.

Normal Wear and Tear reflects the deterioration or loss in value caused by normal and reasonable use by a tenant. A tenant is typically not responsible for "normal wear and tear" when the tenant vacates the premises.