Lasercad® (Space Measurement)
Lasercad® is a property measurement service whose output can be used both for, (1) leasing purposes and, (2) as an asset management tool. We offer Lasercad® service throughout Atlantic Canada and Ontario.
Since 1976, Turner Drake has measured over 10,000 buildings and tenant spaces in Atlantic Canada and Ontario. We are trusted by tenants and landlords alike to provide unbiased, accurate measurement of office, retail, industrial, mixed-use and residential space using the appropriate standard method of measurement (BOMA, SIOR, CREA).
Our Lasercad® service now brings an enhanced degree of precision to the measurement process. It also harnesses the power of the personal computer to provide Asset Managers with a new productivity tool.
Good Fences, Good Neighbours Make
Most tenants, and some landlords, are unaware that there are Standard Methods of Measurement applicable to office, retail, industrial, mixed-use and residential space. Disputes can be avoided and a sound landlord/tenant relationship established at the outset, by providing a Space Certificate as part of the lease. We certify that the space has been measured in accordance with the Standard Method of Measurement appropriate to the type of space ... and that our rentable and usable area calculations are correct.
Laser Sharp Measurements
We utilise a precision laser system for interior space measurement. Our standard operating procedures mandate measurements with an accuracy of 1 cm. and a closing error of no more than 2%. The laser equipment allows us to measure effectively from 25 cm to 100 m. No need to disrupt tenants with intrusive tape measures! We just point the visible laser dot at the distant target and we're done in seconds.
Laser Sharp Plans
We download the measurement data into our Computer Aided Design (CAD) system to produce laser sharp plans in a convenient letter size (8˝" x 11") format. The plan forms part of the Space Certificate and can be incorporated into the lease. The plans for each floor of the building and for each tenant space may be viewed on a personal computer, or can be provided in hard copy format in an Inventory Binder, for the client's continued use as an asset management tool. The plans can be produced in colour and updating them is quick and inexpensive. We also provide free storage of these plans on the client's own password protected Client Area on our web site, so that they can be viewed, enlarged or printed at anytime.
Lasercad® Liberates Space; Enhances Value
It is not unusual to find that 50% of the leases in a building show the incorrect rentable area. This can occur because of (1) inaccurate measurement, e.g. "counting the ceiling tiles"; (2) space modifications on lease renewal which are not corrected in the new lease; (3) use of a non-standard or inappropriate Method of Measurement. The latter can result in the same space having a rental rate of $16.82/ft.˛, $15.00/ft.˛, $14.89/ft.˛, $13.33/ft.˛, $12.74/ft.˛, ... simultaneously ... because it is measured using any one of the non-standard methods in use.
At a rental rate of $15.00/ft.˛ net absolute, every 1,000 ft.˛ "lost" could reduce the value of the property by $174,000.
The 1996 revision to the BOMA (Building Owners and Managers Association) Standard Method of Measurement for space in office buildings took a big leap forward by allowing building owners to "gross up" their building common areas to the various tenant spaces. On average it allowed landlords to capture an additional 3% of rentable space. The 2010 revision to the BOMA Office Standard further changes how this common area is allocated within the building, and allows landlords to re-allocate it from the (lower rent) storage areas to the (higher rent) office areas.
Lasercad® The Leasing Tool: Picture It
Commercial tenants frequently view ten or more spaces before making a lease commitment. Often they opt to remain in their existing space because they cannot visualise how their operation will "fit" and are reluctant to risk the expense and upheaval of an unsuccessful move. The multiplicity of choices available serves to confuse their decision making process.
Our detailed "as built" plans show the exact locations of all partitions, windows, doors and plumbing fixtures, thus reducing the tenant's risk of selecting unsuitably configured premises. The lower the risk, the greater the possibility of consummating the lease transaction. Space Planners can utilise our plans to "lay out" the prospective tenant's operation and demonstrate in concrete terms how it will "fit" into the premises.
... And landlords will be able to further lower the risk hurdle by providing the tenant with our Space Certificate warranting the rentable area.
Easier Asset Management
Lasercad® plans are provided in computer readable format. Details of each tenant space are now just a mouse click away. Asset mangers can flick through the floor plates, then zoom in on each individual tenant space. A précis of each lease can be recorded on the relevant tenant layout. The fiscal, physical and legal attributes of the real estate asset can be analysed visually. Alternatively we can supply the same information in hard copy format. In addition we provide free storage of the plans on the client's own password protected Client Area on our web site, so that they can be viewed, enlarged or printed out at anytime.
Space Measurement Services
Lasercad® is available in two formats: full "as built" drawings or "perimeter" plans only. Space certificates are provided with both formats.
"Lasercad" is a registered trademark of Turner Drake & Partners Ltd.
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