It is telling you the cost (lease rate) of the property is $13 per square foot per year.
Here is how you use it;
Assuming you are looking at a 1000 square foot space
$13 x 1000 (SF)= $13,000 per year cost
You can break it down further by dividing the year cost by 12 months
$13,000 / 12 months= $1083 / month to lease.
Keep in mind that there are other cost involved that may add to this square foot price, such as, utilities, taxes, insurance, and common areas.
Big Tip: It's a buyer's market & prices are negotiable.
Feb 12, 2012