The Building Owners and Managers Association (BOMA) International, in collaboration with research firm Kingsley Associates, 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 critical insight into income and expenses within the commercial real estate industry.
Now in its 96th year, the Office EER is the commercial real estate industry’s largest and most comprehensive benchmarking resource. 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 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
U.S. Private-Sector Office Building Income Figures
U.S. Private-Sector Office Building Expense Figures
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
U.S. Private-Sector Industrial Building Income Figures
U.S. Private-Sector Industrial Building Expense Figures
“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. For more information and to subscribe to the 2016 Office EER and 2016 Industrial EER, visit eer.boma.org.