Whether you are the buyer, seller, or owner, there are several factors to consider when assessing the square footage (RSF). Each of these elements play a role in determining the true value of your building. The condition, location, and tenant-base are fairly self-explanatory. But when it comes to analyzing total RSF, many CRE companies are missing out on rentable space that, in turn, could increase the value of your building as well as your revenue.
The main reason that CRE companies are missing out on RSF is that they don’t have a re-measurement strategy in place and are using old methods to determine the RSF. It is critical for CRE asset owners to the most up to date measurement standards when analyzing RSF – otherwise you’re leaving money on the table. Accurately establishing RSF numbers ensures your property’s ongoing value is being represented correctly.
Your building may have growth potential
Recent changes in BOMA and REBNY measurement standards are driving owners to reassess their assets. And depending on the method of measurement used, there could be additional RSF to be found.
Re-measurement allows CRE asset owners to discover inconsistencies in RSF numbers, add credibility to existing calculations, and uncover additional value in under-measured buildings. We typically see a 3-10% growth increase in buildings that remeasure with up to date measurement standards, which translates to a significant amount of additional rentable income.
RDM supported a large international real estate portfolio in Northern Virginia through the disposition process for a commercial office building. An additional 20,000+ square feet was found through a BOMA re-measurement, resulting in over a million dollars in ROI.
Easily calculate your building’s growth increase
With RDM’s Value Calculator, we made it easy for you to determine your lease or sale value increase. Simply plug in a few numbers and instantly generate your calculation. The calculator will provide you with the total lease or sale value increased in a dollar amount. Try it out here.
Get help maximizing your portfolio
With our platform of managed services and software, RDM will guide you through the process of re-measurement analysis, standards of measurement education, and accessing accurate building information in our RealAccess software. With expertise in all things building measurement and measuring space on a floor-by-floor or building wide basis, we can help determine if you are maximizing your assets.