Retail Standard Method of Measurement
The Urban Land Institute (ULI) Standard Method of Measurement is used by real estate professionals for retail space in shopping centres. Measurements are taken from:
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the outside surface of all exterior walls;
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the outside surface of all interior walls, doors and windows separating such premises from any portion of the Common Facilities; and
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the centre line (determined without regard to any finished treatment on such wall) of all interior walls separating such premises from adjacent rentable premises.
Also, where a portion of any rentable premises is recessed from a demising line, the area of such recess shall be included as part of the Gross Leasable Area of such premises. No deduction or exclusion is made from the Gross Leasable Area for anything occupying floor space.
Frequently Asked Questions:
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A: Our firm has adopted the BOMA Standard for measuring office space in a shopping centre provided that the subject space is located on a non-retail floor/mezzanine or a non-retail part of the shopping centre. Retail space utilised for office purposes should be measured as retail space.
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A: Yes, the Standard specifically mentions that these areas should be included in the GLA.
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A: No. BOMA provides a way to measure retail space (called "store space" within BOMA) located on the ground level of an office building.
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