News: Brokerage

BOMA Int'l. and IFMA launches common floor area measurement definitions

According to the Building Owners and Managers Association (BOMA) International and the International Facility Management Association (IFMA), "A Unified Approach to Measuring Office Space," a report outlining common definitions for floor area measurements as well as major revisions to IFMA and BOMA's respective area measurement standards has been published. These common definitions will be incorporated into the standards supported by each organization, with the primary goal being to clarify building measurement and industry comparisons based on floor area measurements. Currently, IFMA recognizes "The ASTM Standard Classification for Building Floor Area Measurements for Facility Management," while BOMA supports "The ANSI/BOMA Standard Method for Measuring Floor Area in Office Buildings." Together, the two standards form the foundation for benchmarking and best practice. They are commonly used by facility professionals and building owners and managers to measure floor area in office buildings. "The major benefit of this publication is that it establishes common terms and approaches for measurement that each organization will use as they revise their respective standards," said Kent Gibson, CPM, BOMA chair of the working group and vice president of Zions Securities Corp. in Salt Lake City.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,
Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

You have a right to be concerned. I am always surprised at the companies that will negotiate the price of their new facility down to the last dollar, without thoroughly analyzing their
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking