Assignable Square Feet

Assignable Square Feet (ASF) is a term used in real estate to define the area of a building that can be allocated or "assigned" to a tenant for their exclusive use. It's a subset of the Usable Square Feet (USF) and is typically used in office or commercial properties.

In a commercial building, for example, the assignable square footage of an office suite would include the private office spaces, workstations, private restrooms, closets, or storage areas within the suite. It does not include areas such as common lobbies, shared hallways, building mechanical rooms, or any shared amenities.

The assignable square footage is typically less than the usable square footage, which includes a proportional share of the building's common areas along with the space that a tenant can actually occupy and use.

Tenants care about the assignable square footage because it represents the space that they can actually occupy for their own exclusive use. Landlords care about it because it is one of the factors that determine how much rent they can charge. The difference between the usable and assignable square footage is often referred to as the "loss factor," which landlords need to take into account when pricing their spaces.