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Owners and developers of Office Buildings can earn over 10% more from rents by measuring leasable areas using BOMA or IPMS standards

Building Owners and Managers Association (BOMA) or International Property Measurement Standard (IPMS) measurement standards for leasable areas can lead to an increase of the commercial value of office spaces, above 10% per month for owners, according to Colliers International’s consultants. The increase comes from the addition of leasable areas omitted from the initial architectural layouts. For example, in the case of an office building with a leasable area of 20,000 square meters, this increase translates to additional income from rents of above 300,000 euro per year.

With over 1,000,000 square meters of Class A offices, in 75 projects, existing or in development across the country, measured using BOMA or IPMS standards over the past 8 years, Colliers International is by far the market leader among real-estate and consultancy companies offering such services on the local office market.

The measurement of leasable areas according to BOMA or IPMS standards highlights the professional approach that developers and owners of office spaces have in relation to tenants, removing any doubt related to subjectivity. At the same time, these measurements increase the commercial value of the projects. For a building of 20,000 square meters, a 5% higher leasable area means an additional income that can exceed one million euro over a five-year contract period, considering an EUR 14 average rent per square meter, In some cases we managed to add over 10% more leasable areas”, explains Ramona Savencu, Senior Associate Office Advisory at Colliers International.

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Ramona Ionescu

Senior Associate

Bucharest

Ramona joined the Office team of Colliers International Romania in Q1 2015 after 3 years of experience in Architectural Design and Project Planning of large scale retail, residential and office, real estate projects.

Prior to joining Colliers International Romania, Ramona worked as an architect for different companies such as DD Design Studio and  Aerolab Architectural Design in China. She coordinated the architectural design and was involved in the implementation of various projects.

As an architect, Ramona has also designed the “Lipton House”, the guest house that took part in Lipton’s first local brand campaign.

She implemented BOMA standard (2010/2017) or specific measurement (e.g.: IPMS) of commercial surfaces for several Landlords, summing up to a Gross Leasable Area of around 1 mil sqm in Class “A” Office Buildings in Bucharest, Iasi , Timisoara and Cluj-Napoca.

She also was involved in the green certification process of several office buildings and shopping centers in Bucharest and in secoundary cities in Romania. 

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