Your office building may be growing and you don’t even know it. How is that possible? Today’s episode takes a deep dive into rentable square footage and usable square footage. What’s the difference and why should you care? We discuss lots of questions like:
How can a building grow? That sounds ridiculous. Can it be true?
Who decides how to measure a building?
Leases use the terms rentable SF and usable SF. What’s the difference?
If a tenant takes a tape measure and measures each room and adds them up, will that equal the usable SF?
What’s included in the common area? Is that generally agreed upon in the industry?
Are new amenities like fitness centers, conference rooms, tenant lounges, etc. considered common areas?
Can rentable and usable be the same number?
Is 5,000 SF in a single-tenant building better than in a multi-tenant building because it doesn’t have common area?
Once a landlord remeasures a building, can they just change the square footage in the lease unilaterally?
How can a tenant protect themselves from the risk of this happening?
When a tenant is evaluating buildings, should they be more concerned about rentable or usable?
Thanks to our sponsor, REATA Commercial Realty, Inc., which is a tenant advisory firm exclusively representing companies and non-profits which lease or purchase office, medical, flex and warehouse space in the Dallas Fort Worth area.
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