2016 Benchmark Data On Office, Industrial Facilities From BOMA

With data on office and industrial facilities, these reports offer insight into income and expenses within the commercial real estate industry.


https://facilityexecutive.com/2016/07/boma-2016-experience-exchange-reports/
With data on office and industrial facilities, these reports offer insight into income and expenses within the commercial real estate industry.
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BOMA 2016 Experience Exchange Reports Released

2016 Benchmark Data On Office, Industrial Facilities From BOMA

The Building Owners and Managers Association (BOMA) International, in collaboration with research firm Kingsley Associates, has released its 2016 Office Experience Exchange Report (Office EER) and the 2016 Industrial Experience Exchange Report (Industrial EER). Data from these interactive online reports offer insight into income and expenses within the commercial real estate industry.

With information from more than 5,200 buildings in 272 distinct markets across the United States and Canada totaling nearly 900 million square feet of space, the 2016 Office EER (now in its 96th year) offers more office sector data than any other comparable industry source. Top-level U.S. private-sector data from the 2016 Office EER reveals:

U.S. Private-Sector Office Building Occupancy Figures
Average occupancy rate: 89.88%
Square feet per office tenant: 7,746.08
Square feet per office worker: 309.74

U.S. Private-Sector Office Building Income Figures
Total rental income: $26.62 per square foot (psf)
Total income:  $28.21 psf
Base office rent: $21.98 psf
Pass-throughs: $4.73 psf
Escalations: $4.85 psf

U.S. Private-Sector Office Building Expense Figures
Total operating expenses : $8.07 psf
Total operating + fixed expenses:  $12.47 psf
Security:  $0.72 psf
Administrative: $1.45 psf
Cleaning: $1.52 psf
Utilities: $2.16 psf
Parking: $0.61 psf
Roads and grounds: $0.25 psf
Repairs and maintenance: $2.00 psf

commercial real estate

Benchmarking Industrial Facilities

The Industrial EER, now in its second year, is the only benchmarking resource in the commercial real estate industry specifically tailored to the industrial sector. The 2016 Industrial EER offers industrial sector data from approximately 3,900 buildings in 102 distinct markets in the United States totaling more than 645 million square feet of space. Top-level U.S. private-sector data from the 2016 Industrial EER shows:

U.S. Private-Sector Industrial Building Occupancy Figures
Average occupancy rate: 96.61%
Square feet per tenant: 65,609.10
Square feet per tenant employee: 527.28

U.S. Private-Sector Industrial Building Income Figures
Total rental income: $5.35 psf
Base rent: $4.31 psf
Additional rent: $1.21 psf
Miscellaneous income: $0.07 psf

U.S. Private-Sector Industrial Building Expense Figures
Total ongoing expenses: $1.39 psf
Energy: $0.06 psf
Exterior building maintenance:  $0.11 psf
Grounds and landscape: $0.07 psf
Management fees: $0.15 psf
Water and sewer: $0.07 psf

commercial real estate

“Solid asset management strategies are key to driving a property’s profitability and increasing tenant satisfaction,” said BOMA International Chair Brian M. Harnetiaux, senior vice president of Asset Management at McCarthy Cook. “Property professionals depend on the annual EER data to benchmark operating expenses, identify key industry trends and stay competitive.”

Both the Office EER and Industrial EER consist entirely of voluntarily reported data from office and industrial property owners and managers. These interactive online databases allow users to generate customized reports using a host of search filters, including building size, type, class, market, submarket and more, with results calculated in real-time. Reports are easily downloadable as both Excel and PDF documents, and a subscription grants unlimited access; there is no limit to the number of reports users can generate.

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