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
Designing sustainability and performance into buildings
Specifying and selecting sustainable resilient timber products.
Modifying wood to improve resistance to decay and movement.
A last minute, long look for built environment professionals.
The architecture of creative reuse. Book review.
Installing solar panels on listed structures.
Sustainable development global goals, history in progress?
"Unless we act now, the 2030 Agenda will become an epitaph for a world that might have been."
Mike Kagioglou FCIOB named CIOB President
'Sustainable Development Goals must be focus for construction'
BSRIA training; a look at what's on offer
From energy management to compliance training.
TESP video warns to beware of rogue trainers.
Highlighting the slippery tactics of non-approved providers.
New Building Safety Wiki launched
Boosting awareness and understanding of the new fire safety regime.
New playbook on AI in construction published by CIOB
How to get to grips with, and the best from AI.
Digital Construction Report NBS
BIM, cloud, off-site, immersive tech, AI, twins and sustainability.
ECA learning zone and industry focus video series
From updates and amendments to circular economy, emergency lighting and much more.
The Building People Communities Network
Celebrating and amplifying voices of the under-represented, this refugee week and pride month.
Pride of Place: queer heritage
Acknowledging and taking pride in LGBTQ histories.