Experience Exchange Report EER

[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 Wiki

• Benchmarking as business tool.
• BOMA International.
• Facilities management.
• Facility condition assessment FCA.
• Facility condition index FCI.
• Facilities management audit FMA.
• Institute of Real Estate Management IREM.
• Operational costs.

[edit] External resources

• Building Owners and Managers Association (BOMA) International, Experience Exchange Report.
• Building Owners and Managers Association (BOMA) International, Sample report. File:SampleEER2020.Office.pdf