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Hello!
I am an asset manager and we are looking to lease an entire building to a single tenant.
Does a single tenancy allow for greater overall rentable square footage than a multi-tenant scenario? If so, can you outline some areas that can be included in a single tenant taking down a full building that can be included vs. a multi-tenant scenario with a load factor. Again, this is for 2017 BOMA.
Thank you very much!
Hi Jeffrey,
Using the BOMA 2017A Office Standard, there is no difference in the rentable areas of a building between single tenant and multi-tenant configurations. In a single tenant scenario, the tenant is simply allocated 100% of all Service and Amenity Areas. However, it is not uncommon for a single tenant building to use the "Leasing Method" in the Gross Areas Standard instead of the BOMA Office Standard. The Gross Areas standard will have none of the "Rentable Exclusions" that the BOMA Office Standard uses. For example, all Major Vertical Penetrations would be included. As well, the Gross Areas Standard measures to the external face of exterior walls, compared to the vertically dominant inside finished surface in BOMA Office 2017. It is critical that all parties agree to use whichever standard is selected.
Thanks,
David