New Development Building Sq Ft Efficiency Benchmarks
I am the senior development analyst for a developer that builds all property types from hotels to student housing etc. I spend a large portion of my time doing high-level new development analysis. I am trying to establish a benchmark of building sq ft efficiency (leasable or useable sq ft /gross sq ft) plug percentages. Here are my current ratios:
Office 2-4 Levels : 86% lsf
Office 5 - 40 Levels: 84% lsf
Hotel mid & high rise: 79% lsf
Conference Center: 81% lsf
Apartment Garden: 88% lsf
Apartment Mid-Rise: 86% lsf
Apartment High-Rise: 85% lsf
Student Housing: 83% lsf
Please note these are just plug percentages for new development at a high-level. This is before speaking to an architect. I am curious to hear your opinion if a ratio needs to increased or decreased.