We have compiled several of the responses below:
• The best time to conduct a re-measurement survey is during the acquisition phase. This information will help verify the RSF being purchased and aid in lease creation. A building should also be re measured every couple years based on tenant turnover.• Many buildings do not have AutoCAD files and use square footage measurements which are less than what BOMA permits. If leases get locked in with incorrect SF calculations, rentable income will be lost over the length of the lease.
• Many commercial property managers contend with having inaccurate building measurements. Such discrepancies can lead to lower rentable income and higher costs for the landlord.
• Re-measurement calculations should be determined from field measurements not just existing CAD files and these new calculations should be inputted in new CAD drawings as these files are often the initial reference point when renovating or re-demising spaces. Often SF calculations used by a building are not correct and have not been verified.
• New and updated BOMA measurement standards may have contributed to the uptick as property owners continue to bring their properties up to current standards. You can find information on the new standards here: http://www.boma.org/MeasurementStandards/Pages/default.aspx
If you would like to see all of the responses in their entirety, click here to visit the discussion on the BOMA group on LinkedIn
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