Office percentage is the percent of an industrial property’s square footage that is attributed to office usage. In scenarios where mezzanine office space been built above an area that would have otherwise been used for industrial use, the additional square footage is not factored into the total square footage of the building.
To provide a simple example, say a 100,000 square foot industrial flex property has 10,000 square feet of office space currently being used. The property’s office percentage would then be 10%.