Office space leasing operates on a per-square-foot basis. The Building Owners and Managers Association established a uniform measurement standard.
Key Definitions
Usable Area: The private space tenants occupy.
Rentable Area: Broader square footage incorporating common spaces. Rates are quoted on this basis.
Load Factor
Landlords establish a “load factor” by dividing total rentable area by total usable area, typically ranging from 1.10 to 1.15.
Conclusion
For substantial leases, engage independent professionals to verify measurements before signing.