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Content DescriptionBOMA 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.
About BOMAFounded in 1907, the Building Owners and Managers Association (BOMA) International is a federation of U.S. local associations and global affiliates. The leading trade association for commercial real estate professionals for more than 100 years, it represents the owners, managers, service providers and other property professionals of all commercial building types, including office, industrial, medical, corporate and mixed-use. BOMA International is the partner individuals in the commercial real estate industry choose to maximize value for their careers, organizations and assets. Its mission is to advance a vibrant commercial real estate industry through advocacy, influence and knowledge. |
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