- John Capobianco
- HLW International LLP
- August 21, 2013
Good Afternoon:
We have a client negotiating a lease for a new ground up building. The LL would like to use the Gross Building Area as Rentable SF. I understand this method is only used if both parties agree from your prior answers. Would the Building Rentable Area be the acceptable alternative for this method (or would it be in fact the default method?)
In addition there is a lobby space and program element that is called out as double height and the base building is being designed as such. Would these spaces be considered a major vertical penetration?
Many Thanks for your time and effort.
- Adam Fingret
- Extreme Measures Inc.
- August 21, 2013
Hi John,
Yes the Building Rentable would be a natural alternative to Gross Building Area. The standard doesn't propose a default method. In the 26 Key Questions document (which isn't part of the standard but is published by BOMA), it reads:
Single occupant buildings will often need to be compared to multi-occupant buildings and, in these cases, Building Rentable Area is the recommended measurement to use. Gross Building Area would be an appropriate method in determining lease rate only if the parties agree...
Yes, multi-story atrium spaces are Major Vertical Pentetrations above ground level. Note that these are deducted from Rentable Area, whereas they will be included in Gross Building Area.