Cardinal Real Estate Partners, LLC

Regulatory complexity drives up housing costs. And it's getting worse. Here's how to get things under control.

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Calculating square footage is NOT the exact science most people think it is. On the contrary, it’s a tricky business. It’s why business owners and corporate decision makers rely heavily on brokers—to ensure their spatial needs and their budgetary limitations are equitably met. But, if you’re going it alone, you should at least know the differences between “usable square feet” (USF) and “rentable square feet” (RSF). USF = the number of square feet you’ll have sole access to. If the USF of the commercial property you purchase is 2,000 square feet, it means that your office space will be precisely that—2,000 square feet. Seems simple enough, right? Where it gets confusing is when a property owner advertises an office space claiming to be 2,500 square feet that is actually only 2,000. In this case, the owner has included the common areas of a building that you’ll have shared access to—or the RSF. RSF includes common areas like lobbies, hallways, stairways, and elevators. And as you’ve no doubt guessed by now, those shared square feet can impact the cost of a property. But at least you can tell the difference now…unlike most owners and decision makers. P.S. There’s nothing "exact" about the USF methods employed by landlords in major markets like New York City, Los Angeles, or Chicago. These folks will probably tell you to leave your measuring tape at home and send your architects to their rooms with no dinner. In major markets like these, the space "is what it is." P.P.S. If you’re in the market to lease office space and industrial space, you’ll save yourself at least three migraines by delegating this task to a professional broker who understands the substantial differences If you want to learn more about working with a qualified commercial brokerage, or to find out what to look for in a commercial real estate broker, shoot me a DM, and I’ll point you to some resources.

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