Experience Exchange Report EER
Contents |
[edit] Introduction
The Experience Exchange Report (EER) is a document that gathers benchmarking data for building owners, property managers, facility managers and other commercial real estate professionals in North America. It is produced by the Building Owners and Managers Association International (BOMA International) in collaboration with research firm Kingsley Associates.
[edit] History
First published in 1920, the Experience Exchange Report was initially released for property management professionals who were looking for ways to manage and operate buildings during a time when the growth of cities was moving at a fast pace and skyscrapers were being built in North America. In its original format, the EER featured data from offices (including medical buildings and government facilities). This report was renamed as the Office Experience Exchange Report or Office EER in 2015 when its Industrial Experience Exchange Report or Industrial EER counterpart was launched.
With a focus exclusively on industrial facilities (including warehouses, distribution centres, data centres, laboratories, call centres and so on) the Industrial EER was created as the first resource of its kind for the sector. The Industrial EER was not released in 2020 due to consolidation in the industrial sector, according to BOMA International.
While the Experience Exchange Report was originally released as a published document, over the years it has been converted into an interactive, subscription based tool that allows users to submit their own proprietary information to generate customized reports and comparisons to real-world scenarios. The web-based version of the EER includes historical data from 2007 onward.
[edit] Types of data
The data in both EER versions includes information on markets across the country (since this can vary significantly based on where a property is located):
- Total income per square foot.
- Rental income.
- Base rent.
- Total operating expenses per square foot.
- Occupancy rates.
- Square footage per office tenant.
- Taxes.
- Cleaning costs.
- Electricity expenses.
- Administrative expenses.
- Insurance costs.
- Landscaping.
- Mechanical/HVAC maintenance.
Best known as a benchmarking tool, the EER results, which are collected annually, are based on surveys designed to record operating information from all types of property owners throughout North America.
Those who participate in the survey are asked to provide building name, address, submitter’s contact information along with:
- Building information – area/floor measurements, office/retail areas, car park details, property class/type/uses, lease type, ownership type, occupancy.
- Income information – rent costs, expense escalations, lease cancellations, tenant improvements, capital expenditures, miscellaneous income.
- Expense information – major expenses, building maintenance, landscaping, mechanical/HVAC, water and sewer, energy, rubbish, fire/life safety/security, wages, management fee, real estate taxes, insurance, reimbursable expenses.
Both the Office EER and Industrial EER consist entirely of voluntarily reported data from office and industrial property owners and managers. More than 100 property management professionals in both office and industrial facilities typically respond to the survey.
[edit] Creating reports
The interactive online databases allow users to generate customised reports using criteria, including building size, type, class, market, submarket and so on. Reports are downloadable as both Excel and PDF documents, and a subscription grants unlimited access.
The results can be used to help property professionals:
- Develop and refine strategic operations.
- Explain operating costs - when compared to others in the marketplace - to decision makers.
- Recognise trends based on past data.
[edit] Related articles on Designing Buildings
Featured articles and news
Infrastructure that connect the physical and digital domains.
Harnessing robotics and AI in challenging environments
The key to nuclear decommissioning and fusion engineering.
BSRIA announces Lisa Ashworth as new CEO
Tasked with furthering BSRIA’s impressive growth ambitions.
Public buildings get half a million energy efficiency boost
£557 million to switch to cleaner heating and save on energy.
CIOB launches pre-election manifesto
Outlining potential future policies for the next government.
Grenfell Tower Inquiry announcement
Phase 2 hearings come to a close and the final report due in September.
Progress from Parts L, F and O: A whitepaper, one year on.
A replicated study to understand the opinion of practitioners.
ECA announces new president 2024
Electrical engineer and business leader Stuart Smith.
A distinct type of countryside that should be celebrated.
Should Part O be extended to existing buildings?
EAC brands heatwave adaptation a missed opportunity.
Definition of Statutory in workplace and facilities management
Established by IWFM, BESA, CIBSE and BSRIA.
Tackling the transition from traditional heating systems
59% lack the necessary information and confidence to switch.
The general election and the construction industry
As PM, Rishi Sunak announces July 4 date for an election.
Eco apprenticeships continue help grow green workforce
A year after being recognised at the King's coronation.
Permitted development rights for agricultural buildings
The changes coming into effect as of May 21, 2024.