In commercial real estate, the floor plate is representative of the amount of leasable square footage on an individual floor of a building. Floor plate is most commonly referenced for office and retail asset classes since they are often leased on a per square feet (PSF) basis.

In multistory buildings, especially taller office properties in major urban areas, the floor plate on lower floors is likely to be larger than the the floor plate on higher floors. In some cases, a building's floor plate is also known as its footprint. A floor plate may also be described by shape, such as being square, rectangular, or in very rare cases, circular.

To better illustrate, consider a five-story office building. The first three floors have square floor plates with 20,000 square feet of gross leasable area each. The top two floors have rectangular floor plates with 15,000 square feet of gross leasable area each. Such a building would have a square base, before becoming a slimmer profile for the top two floors.

A property’s floor plate is typically a given indication of the gross leasable area and shape of a single floor of a commercial building. In commercial real estate, the gross leasable area refers to the entire leasable area of the whole building.

The benefits of a large floor plate in commercial real estate include increased flexibility for tenants, more efficient use of space, and the potential for higher rental rates. A larger floor plate allows tenants to customize their space to their needs, as well as create a more efficient layout. Additionally, larger floor plates can command higher rental rates due to the increased flexibility and efficiency they offer.

For example, a larger floor plate may allow for more efficient use of space, such as the ability to create multiple offices or conference rooms within the same space. Additionally, larger floor plates may also allow for more efficient use of utilities, such as heating and cooling, as well as more efficient use of lighting.

Overall, a larger floor plate in commercial real estate can provide tenants with increased flexibility and efficiency, as well as the potential for higher rental rates.

The drawbacks of a small floor plate in commercial real estate are that it can limit the amount of leasable space available, making it difficult to attract tenants. Additionally, a small floor plate can make it difficult to divide the space into smaller units, which can limit the types of tenants that can be attracted. Finally, a small floor plate can limit the amount of natural light that can enter the space, making it less desirable for tenants.

Source: https://commercialrealestate.loans/commercial-real-estate-glossary/floor-plate

The size of a floor plate in commercial real estate can vary greatly depending on the type of building and its location. Generally, floor plates in office and retail buildings are leased on a per square feet (PSF) basis. In multistory buildings, especially taller office properties in major urban areas, the floor plate on lower floors is likely to be larger than the the floor plate on higher floors. In some cases, a building's floor plate is also known as its footprint. A floor plate may also be described by shape, such as being square, rectangular, or in very rare cases, circular.

To better illustrate, consider a five-story office building. The first three floors have square floor plates with 20,000 square feet of gross leasable area each. The top two floors have rectangular floor plates with 15,000 square feet of gross leasable area each. Such a building would have a square base, before becoming a slimmer profile for the top two floors.

When selecting a floor plate in commercial real estate, the most important factors to consider are the shape of the floor plate, the size of the gross leasable area, and the location of the building. The shape of the floor plate will determine the layout of the space and the size of the gross leasable area will determine the amount of space available for tenants. The location of the building will also be important, as it will determine the accessibility of the building and the potential for tenant traffic.

The shape of the floor plate is important to consider because it will determine the layout of the space. A square or rectangular floor plate will provide a more efficient layout, while a circular floor plate will provide a more unique layout. The size of the gross leasable area is important to consider because it will determine the amount of space available for tenants. A larger gross leasable area will provide more space for tenants, while a smaller gross leasable area will provide less space.

The location of the building is also important to consider because it will determine the accessibility of the building and the potential for tenant traffic. A building located in a high-traffic area will be more accessible and have more potential for tenant traffic, while a building located in a low-traffic area will be less accessible and have less potential for tenant traffic.