Industrial buildings are typically measured in terms of which area?

The correct choice is gross building area, which is a crucial measure when dealing with industrial buildings. Gross building area represents the total area of a building, including all usable spaces, hallways, walls, mechanical rooms, and other areas that are part of the building's envelope. This measurement accounts for everything from the foundation to the roof, reflecting the total footprint of the structure.

For industrial buildings, understanding the gross building area is essential for appraisers, as it allows them to evaluate the space in relation to its functionality and potential for various uses, such as manufacturing, warehousing, or distribution. This comprehensive measurement aids in determining overall value, rental rates, and market comparisons.

When considering the other options, gross living area refers specifically to residential properties and focuses on the living spaces that occupants utilize, excluding garages and unfinished basements. Net leasable area typically pertains to commercial office space and represents areas a tenant can lease and use but does not include common areas. Interior area, while similar to gross building area, is less commonly used in appraisals and may not capture all necessary areas of an industrial facility. Thus, gross building area is the most appropriate measurement for industrial buildings.