When is a square foot not a square foot? If you own or manage a business you probably have the experience of buying or leasing real estate by the square foot. And you may have been introduced to the mystery of rentable square feet, useable square feet, and perhaps even carpetable square feet. All of which are different. And what is a loss or load factor, anyway?

 

This month's article is an introduction on how space is measured, why your rentable square footage is different than your useable square footage, and how to make sure that you are getting the space for which you have paid. The bottom line is that you should always do a furniture and fixture layout of space or buildings under consideration and not just rely on square footage calculations. But a brief primer on the subject will help you understand the dynamics and make a better deal.

 

We have been busy! Five closed commercial real estate transactions in May, including the sale of a Knights of Columbus Hall, plus two major construction projects coming to completion. I think everyone at Hunt is looking forward to a little summer relaxation!