The Waypoint Blog

Waypoint Analysis and Market Trends from BOMA EER Data

If you’ve talked to anyone who works at Waypoint, chances are they love data. Quantitative data, qualitative data, data analysis, data trends, all the data. And as such, it’s a perfect partnership that Waypoint has joined forces with the Building Owners and Managers Association International (BOMA) to support bulk collection for, and analyze their annual Efficiency Exchange Report (EER) data for office and industrial buildings. The data in these reports offer the most accurate and comprehensive income and expense data to help real estate professionals evaluate and refine operational strategies, build better budgets, assess new markets and identify opportunities for cost savings that can drive a more profitable bottom line for a property or portfolio.

BOMA’s Experience Exchange Report is the ultimate source for income and expense comparisons across the real estate market, and has been the industry’s most trusted benchmarking resource for nearly a century. Each year, thousands of properties submit their data to BOMA from markets across the U.S. and Canada. This year is no different: the 2016 Of­fice EER offers more income and expense data than any other comparable industry source. And over the past two years, data from thousands of industrial properties has been submitted to BOMA for reliable sector-specifi­c benchmarking across the U.S. as well.

This is the second year that Waypoint is partnering with BOMA to offer an automated process for submitting income and expense data into the Office EER and Industrial EER. With this new automated process, companies submitting 20 or more buildings to the EER surveys may securely and easily export their data directly from their accounting software. Not only does this enable Waypoint to help increase the dataset for the EERs, but it also enables Waypoint to conduct analysis on the data’s market trends and patterns which provides more value to BOMA members.

Waypoint’s analysis of BOMA International’s Office EER and Industrial EER reveals new insights about the office and industrial sectors. Based on the Office EER data, total operating expenses in the U.S. increased 6.9% from 2011 to 2015. The primary operating expenses driving this trend were in the repairs and maintenance category. Office income grew 7.8% during that same timeframe, outpacing operating expenses and driving net operating income (NOI) growth of 3.6%.

This new report also finds that overall U.S. industrial income and expenses stayed relatively unchanged from 2014 to 2015, though there was much more volatility at the market level. From 2014 to 2015, operating expenses remained flat at $0.46 per square foot (psf), while income increased 0.8% from $5.47 psf to $5.52 psf. Overall, NOI increased 1% from $4.11 psf in 2014 to $4.15 psf in 2015.

We are thrilled to share Waypoint’s BOMA EER analysis with stakeholders across real estate market. If you’re interested in learning more, you can download and read the full report online here. And if you’re interested in submitting your organization’s office and industrial portfolio to the EER this coming January, feel free to reach out to Waypoint at info@waypointbuilding.com for an easy bulk-upload submission process.

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