There are many ways of measuring office spaces, and they don’t all come up with the same end result. According to a Wall Street Journal article, a new international coalition of real estate organizations wants to change that. Over the last year, they have worked to come up with a standardized way of measuring leasable office space, which will be of benefit to tenants but not necessarily to landlords, as adopting the new measurement could result in less billable square footage.
With that in mind, it’s questionable whether or not the standardized measurement system will be widely adopted, since the coalition doesn’t have the power to enforce those standards. There is talk of the new measurement becoming government mandated, but it’s uncertain whether or not that will actually happen.
Read the full article at: https://online.wsj.com/articles/building-owners-brace-for-common-approach-to-measuring-office-space-1401231827
