GLOSSARY

Capital Expenditures (CAPEX) - money spent on assets the benefit of which is expected to be enjoyed well beyond the financial year in which such expenditure is incurred.
Efficiency factor - The number resulting from dividing the usable area by the gross building area in a office building, providing a benchmark measurement for the building's use as an office building
FF&E - Furniture, fittings and equipment not fixed to the structure that are required in the fit-out of a facility
Green field site - a site, separate from existing developments, which is to be developed for the first time.
Gross building area - defined by exterior dimensions of a building including enclosed rentable areas/floors such as office, retail, vending machine and storage spaces. Excludes parking and roof space. Definition can vary from country to country.
Net absorption - change in occupied real estate stock between two points in time
Operating expenses (OPEX) - expenses incurred in managing an investment property, including repairs and maintenance, legal and management fees.
Principal - when JLL is appointed by their client to act as principal, JLL has authority to make decisions based on established parameters, including but not limited to capital sourcing, contract negotiations, vendors appointments, PO issuance, invoice payments, amongst others.
REIT - a real estate investment trust is a corporation or trust that uses pooled capital of many investors to purchase and manage real estate assets and/or mortgage loans.
Space utilization - Number of employees divided by total workplace capacity. If you have 75 employees in a space designed for 100, you're utilization is 75%.