BOMA 2020 For Retail Properties: Standard Method of Measurement (ANSI/BOMA Z65.5-2020) PDF

BOMA 2020 for Retail Properties: Standard Method of Measurement (ANSI/BOMA Z65.5-2020) is the update to the 2010 Retail Standard and is intended exclusively for Retail Properties and their associated structures and may be applied to single tenant, multi-tenant or multi-building configurations. The primary objectives of the 2020 Retail Standard are to promote an unambiguous framework for determining the areas of Retail Properties with a strong focus on Rentable Area calculations; to facilitate transparency and clear communication of retail measurement concepts among all participants in the commercial real estate industry; to allow a comparison of values on the basis of a clearly understood and generally agreed upon method of measurement; and to align concepts and measurement methodologies with the International Property Measurement Standards: Retail Buildings (2019) document.

Features of the 2020 Retail Properties Standard:

• Follows the new format introduced with the 2017 Office Standard - published in landscape to align the standard’s language with the accompanying illustrations, presented in a step-by-step format to make it easier to follow and rewritten to make it easier to understand the concepts and methodologies, including helpful hints
• Features an expanded Glossary of Terms, including references back to the related section
• Incorporates best-practice guidance developed after the publication of the 2010 standard to address ambiguities and inconsistencies in the 2010 standard
• Compatibility with the International Property Measurement Standards: Retail Buildings (2019)-IPMS 1
• Provides for two distinct levels of measurement - Partial Measurement and Overall Measurement
• Offers an optional Inter-Building Area calculation to allocate Parking Areas, Major Vertical Penetrations, and Service and Public Areas (Gross Leasable Exclusions) according to the Gross Leasable Areas of the Property’s Occupants
• Allows flexibility to separately disclose areas of interest