WASHINGTON - A new report from the Building Owners and Managers Association (BOMA) International and Kingsley Associates shows that property professionals are trimming building operating expenses to stay competitive in today’s challenging marketplace. The report, which analyzes data from BOMA International’s 2010 Experience Exchange Report®, revealed a 1.1 percent decrease in total operating expenses for U.S. private-sector buildings during 2009.
The BOMA-Kingsley Report analyzes a control sample of buildings in the U.S., for which data was submitted in both 2009 and 2010, with minimal changes in total rentable area and occupancy. The main analysis drills down into trends based on building type, location, market, expense categories and more.
A couple of key findings from the report include:
• Utilities expenses saw reductions across all property types during 2009. General multi-tenant buildings trimmed $0.08 per square foot from their utility bills, while corporate facilities doubled that savings ($0.16 per square foot) and government buildings almost tripled their savings ($0.22 per square foot).
• While pressure on operating expenses may ease once the economy recovers, the report says indications are that a steadfast focus on energy efficiency has become a key element of ongoing operational practice and will outlast the current market downturn.
For a copy of the complete report, go to www.boma.org/SiteCollectionDocuments/Org/Docs/BKR.pdf.
Publication date:10/11/2010