September 9, 2015—The Building Owners and Managers Association (BOMA) International, in collaboration with research firm Kingsley Associates, has launched the brand new Industrial Experience Exchange Report (Industrial EER), its commercial real estate benchmarking resource specifically tailored to the industrial sector. Offering the same level of comprehensive benchmarking data that BOMA International has provided the office sector for nearly a century with its Office Experience Exchange Report (Office EER), the Industrial EER meets the growing demand among industrial property professionals for sector-specific information.
Although industrial is one of the fastest growing sectors in commercial real estate, it has been challenging for industrial property professionals to find the relevant data they needed to build budgets, evaluate operational strategies, and identify opportunities for cost savings that can drive a more profitable bottom line, says BOMA. Now, the Industrial EER offers data from more than 2,800 industrial properties in 85 markets across the United States, representing nearly half a billion square feet of industrial space.
Some of the top-level figures from the 2015 Industrial EER report include:
Private-sector industrial building income statistics
- Total rental income: $4.97 per square foot (psf)
- Base rent: $4.35 psf
- Additional rent: $1.28 psf
- Miscellaneous income: $0.21 psf
Private-sector industrial building expense statistics
- Total ongoing expenses: $1.39 psf
- Energy: $0.06 psf
- Water and sewer: $0.07 psf
- Management fees: $0.15 psf
Private-sector industrial building occupancy statistics
- Average occupancy rate: 96.5 percent
- Square feet per tenant: 60,447.35
- Square feet per tenant employee: 524.8
The online platform of the Industrial EER allows subscribers to design customized reports by building type, by lease type, by location and even by property characteristics such as size or age to ensure the benchmarking information generated is as specific as possible.
For more information and to subscribe to the inaugural Industrial EER and the 2015 Office EER, visit the BOMA EER Web site.
