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Mixed Use parking

Tom: Freeman French Freeman; February 28, 2019

In a new multi-use Building the multi-floor parking area is allocated to: individual retail groups, individual office groups, areas of dedicated residential parking, and well as general parking to be shared by all.

A potential retail tenant is questioning what portion of the parking should be allocated to them and how it contributes to the Load factor in this case as it contributes to the high RU leading to a market rate factor.

how to reply to this potential tenant?
Thanks!

David Fingret: Extreme Measures Inc.; February 28, 2019

Hi Tom,

The BOMA Mixed-Use Standard doesn't allocate parking to any of the mixed-use components. Furthermore, Mixed-Use Common Area (MUCA) is allocated to each use component (retail, Office, etc) but it only impacts the load factor of the office component. There is no Load Factor applied to the Gross Leasable Area of a retail tenant within the retail use component of a Mixed-Use property.

I hope this helps.

Thanks,
David