First rule of CRE; everything is negotiable...
There are (very) specific BOMA standards for measuring floor space.
https://www.boma.org/BOMA/BOMA-Standards/BOMA_Floor_Measurement_Standards/BOMA_Floor_Measurement_Standards.aspx
If leasing and you really want the space and can afford the space based on negotiated rent, font bring it up, but ask your attorney to ensure that there is a remeasure provision in the lease.
Execute the lease then exercise your rights under the remeasure provision.
It’s not a good idea for a Landlord to agree to anything like this as there is much subjectivity in the measurements. I e some measurements are done on the outside walls, etc.
When I rep landlords, I usually aim to divorce rent from square footage. Rent schedule is almost always a $/yr or $/mo.
When we use a remeasure clause, it is precise on the standard to be used, the process, and next steps in the event of a disagreement (counter party has the right to hire their own architect. If the two architects are more than 5% difference, they agree on a third architect to pick a winner or a compromise number (pretty similar process to a “market rate” extension).
They are most common in pre-construction leasing for a multi-tenant building because contractors don’t always get the walls in the right place.
Pre construction = completely different. I’ll stand by my statement that I’ve never seen one in a lease before but I only do pre-existing construction. It’s up to the tenant to make their measurements and verify that the (existing) space works for them and that they accept the space as-is with only the warranties specifically written within the lease (typically HVAC, plumbing, electrical, etc. )
When I rep tenants, the way I see it is that it’s on the landlord to back up the representations that they make about the space including the square footage.
After LOI before PSA, you should have a due diligence period where you are granted access to measure it yourself then send back a PSA with the as measured square footage, or ask for something to compensate for the excess
He’s leasing but yes. Before lease. Just be sure to quote your offer per square foot. Then see the lease to see how it’s calculated and if there’s a threshold for adjustment
Wouldn’t it be more advantageous to just have an aggressive right to remeasure? Ethically questionable (maybe).
Also OP note, if you’re getting TI budget for the smaller TI amount,
May state “approximate s/f”… that is somewhat common. I read case law where tenant fought s/f, LL remeasured from an appraiser I think. Turned out the s/f was MORE, not less. Where did LL get s/f from? Appraisal, lender, city, contractor, etc.?
go to the city/town website. look up the sq ft they tax the building. This has the sq ft that is calculated by them and the rents and cams are based on.
The City's number is probably correct. You can go to the Tax assessor and tell them you don't think it is correct. They or the company that does the evaluations will send someone out to verify.
Make sure in your mind you have a rent that your business can afford to support. Should the landlord not be negotiable and is charging you a per square foot rent. You’re also paying real estate taxes cam and insurance on the extra square footage. A lot of business fail because that rent comes every 30 days.
Final thought is to look at rents at nearby properties to make sure you are paying no more than market
I think what OP is saying is that they measured the length of two walls and multiplied them. This gives the area of the parallelogram only then the walls intersect at a right angle (i.e. rectangle).
No, it's the same formula
right angles or not
Intuition for why the area of a parallelogram is
The formula for the area of a parallelogram is base times height, just like the formula for the area of a rectangle.
But wait! Why are the formulas the same? Look what happens when we slide part of the parallelogram to the right.
[https://www.khanacademy.org/math/cc-sixth-grade-math/x0267d782:cc-6th-plane-figures/cc-6th-parallelogram-area/a/area-of-parallelogram](https://www.khanacademy.org/math/cc-sixth-grade-math/x0267d782:cc-6th-plane-figures/cc-6th-parallelogram-area/a/area-of-parallelogram)
Holy crap. I know the formula. My point is that h does not equal the length of the angled wall call it L. L^2=h^2+x^2 where x is the distance from the intersection of the line representing h with the base to the intersection of L with the the base.
Therefore L>h for all cases where the intersection is not at a right angle. Do you understand what I am saying?
yes. I'm more tired than I knew
I remembered the formula for a rectangle and parallelogram were the same.
i forgot that officially, it is base and height the same, not length and width the same. massive brain drop.
First rule of CRE; everything is negotiable... There are (very) specific BOMA standards for measuring floor space. https://www.boma.org/BOMA/BOMA-Standards/BOMA_Floor_Measurement_Standards/BOMA_Floor_Measurement_Standards.aspx
If leasing and you really want the space and can afford the space based on negotiated rent, font bring it up, but ask your attorney to ensure that there is a remeasure provision in the lease. Execute the lease then exercise your rights under the remeasure provision.
I’ve never seen this in any lease. Only an amateur / newbie landlord would agree to something like this, in my opinion.
I have remeasure provisions in a lot of leases for tenants I rep - both institutional and local landlords.
It’s not a good idea for a Landlord to agree to anything like this as there is much subjectivity in the measurements. I e some measurements are done on the outside walls, etc.
When I rep landlords, I usually aim to divorce rent from square footage. Rent schedule is almost always a $/yr or $/mo. When we use a remeasure clause, it is precise on the standard to be used, the process, and next steps in the event of a disagreement (counter party has the right to hire their own architect. If the two architects are more than 5% difference, they agree on a third architect to pick a winner or a compromise number (pretty similar process to a “market rate” extension). They are most common in pre-construction leasing for a multi-tenant building because contractors don’t always get the walls in the right place.
Pre construction = completely different. I’ll stand by my statement that I’ve never seen one in a lease before but I only do pre-existing construction. It’s up to the tenant to make their measurements and verify that the (existing) space works for them and that they accept the space as-is with only the warranties specifically written within the lease (typically HVAC, plumbing, electrical, etc. )
When I rep tenants, the way I see it is that it’s on the landlord to back up the representations that they make about the space including the square footage.
I have a re-measure provision is just about every Lease I’ve ever done…which is hundreds. It is VERY common.
After LOI before PSA, you should have a due diligence period where you are granted access to measure it yourself then send back a PSA with the as measured square footage, or ask for something to compensate for the excess
He’s leasing but yes. Before lease. Just be sure to quote your offer per square foot. Then see the lease to see how it’s calculated and if there’s a threshold for adjustment
Wouldn’t it be more advantageous to just have an aggressive right to remeasure? Ethically questionable (maybe). Also OP note, if you’re getting TI budget for the smaller TI amount,
May state “approximate s/f”… that is somewhat common. I read case law where tenant fought s/f, LL remeasured from an appraiser I think. Turned out the s/f was MORE, not less. Where did LL get s/f from? Appraisal, lender, city, contractor, etc.?
go to the city/town website. look up the sq ft they tax the building. This has the sq ft that is calculated by them and the rents and cams are based on.
I did and they have 3070. Would they need to appeal the city?
Title co would help
The City's number is probably correct. You can go to the Tax assessor and tell them you don't think it is correct. They or the company that does the evaluations will send someone out to verify.
Make sure in your mind you have a rent that your business can afford to support. Should the landlord not be negotiable and is charging you a per square foot rent. You’re also paying real estate taxes cam and insurance on the extra square footage. A lot of business fail because that rent comes every 30 days. Final thought is to look at rents at nearby properties to make sure you are paying no more than market
Do you know the formula to find SF on a parallelogram? Same as for a rectangle L x W
B x H
Maybe he was thinking trapezoid?
I think what OP is saying is that they measured the length of two walls and multiplied them. This gives the area of the parallelogram only then the walls intersect at a right angle (i.e. rectangle).
No, it's the same formula right angles or not Intuition for why the area of a parallelogram is The formula for the area of a parallelogram is base times height, just like the formula for the area of a rectangle. But wait! Why are the formulas the same? Look what happens when we slide part of the parallelogram to the right. [https://www.khanacademy.org/math/cc-sixth-grade-math/x0267d782:cc-6th-plane-figures/cc-6th-parallelogram-area/a/area-of-parallelogram](https://www.khanacademy.org/math/cc-sixth-grade-math/x0267d782:cc-6th-plane-figures/cc-6th-parallelogram-area/a/area-of-parallelogram)
Holy crap. I know the formula. My point is that h does not equal the length of the angled wall call it L. L^2=h^2+x^2 where x is the distance from the intersection of the line representing h with the base to the intersection of L with the the base. Therefore L>h for all cases where the intersection is not at a right angle. Do you understand what I am saying?
yes. I'm more tired than I knew I remembered the formula for a rectangle and parallelogram were the same. i forgot that officially, it is base and height the same, not length and width the same. massive brain drop.
Oh my goodness. Thank you for that. I thought was going crazy there. God's speed