Commercial Real Estate Dictionary
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AbatementIn a legal context in real estate, an abatement refers to a reduction in something such as a nuisance or hazard. It can also refer to the process of pursuing a remedy to a nuisance or code violation.

In the event a nuisance infringes upon a property owner's ability to reasonably use their property, the property can seek to abate the nuisance to remedy the problem.
Absorption ScheduleAn absorption schedule is the timeline at which available property or space will be either sold or leased. Affordable HousingAffordable housing refers to any type of housing made affordable for low-income individuals or families through government subsidy or incentive.

Rents at market rates can cause an undue financial burden and cause difficulty in meeting basic necessities for those with low incomes.

Affordable housing incentives are designed to lower the cost of capital and/or cash flow demands to allow landlords and investors an ability to invest in and operate rental properties at lower rents. AgglomerationAgglomeration is the tendency of businesses to locate and concentrate in a given area, typically due to the advantages gained by being within proximity to other businesses. These advantages may include efficiencies, logistics, support, and synergies that arise as businesses cluster in a given area. AmenityAn amenity is a feature or benefit of a space or property. Amenities offered should respond to a need or preference in the marketplace. AmortizationAmortization is the repayment of a debt or financial obligation over a period of time. Anchor TenantAn anchor tenant is an occupant in a retail center that draws traffic which drives business for other tenants in that retail center. AppraisalA real estate appraisal is an estimate or determination of a property's value. ArchitectAn architect is a designer of buildings, environments, and spaces. The architect may also consult on or supervise the construction process. Asset ManagerAn asset manager is a profesional or firm that oversees the management and value of an asset or portfolio of assets. Axial theoryAxial theory is a principle that states land use, land values, and real estate development radiate outward along axes that are driven by transportation routes and emanate from a city's center.
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