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Good morning , My client is renting a retail space in a very large 40 plus story office building in the financial district. The LL's floor plans are BOMA 1996; my question is how much difference would there be in the rentable retail area if measured by BOMA 2017 as to Boma 1996...Thanks
Hi Simon,
It's impossible to say as there are bunch of differences and variables between the two standards which could increase or decrease the rentable area of the retail space when going from one standard to the other. The only way to really know is to perform an area analysis; however, BOMA 1996 "Store Area" is measured to the outside face of the wall if there is a public sidewalk adjacent to the retail space. In BOMA 2017, all retail space is measured to the inside finished surface - just like office space, so it's likely that if there is an adjacent sidewalk, tehn the BOMA 2017 standard would yield a lower rentable area. But another thing to keep in mind is that the Load Factors are generally higher in BOMA 2017 compared to BOMA 1996, which may increase the rentable area to be higher than BOMA 1996, despite the difference in the retail measure line.
Thanks,
David