How do your facility statistics rate? [Article]

May 31, 2017 Justin Moon

The Building Owners and Managers Association (BOMA) International recently worked with a research group to learn about income and expenses common to commercial office properties and industrial real estate. It pulled data from more than 5,200 office buildings across the U.S. (and Canada) and 3,900 industrial buildings for a look at industry averages with regard to occupancy, space utilization, rental or total income, and several categories of expenses.

Below is what the organization reported for office and industrial buildings in the U.S.; check out how your building compares.

OFFICE BUILDINGS

U.S. private-sector office building occupancy statistics:

  • 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 statistics:

  • 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 statistics:

  • 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

INDUSTRIAL FACILITIES

U.S. private-sector industrial building occupancy statistics:

  • 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 statistics:

  • 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 statistics:

  • 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

Want to learn more about how to reduce your industrial facility operating expenditures? Check out our FREE guide to Industrial High Bays  which further outlines how you can reduce your energy bill by up to 70%.

About the Author

Justin Moon

Justin Moon is the Director of Industrial Vertical Marketing at Acuity Brands with over 10 years of experience in the lighting industry, most of which were spent working with industrial facilities.

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