Industry News




08/23/2013

Most, Least Expensive Cities for Operating Costs

 
Salt Lake City is the least expensive city for office building operating expenses.

Do you operate an office building in New York City? If so, you could be paying around $7 more per square foot in operating costs than a building owner in Salt Lake City according to a new report released by the Building Owners and Managers Association (BOMA) International.

Find out if your city made the five most, or least, expensive city-markets for total operating costs.

Five most expensive city-markets – Total operating expenses:

  1. New York City $11.80 per square foot (psf)
  2. San Francisco $9.66 psf
  3. Washington, D.C. $9.51 psf
  4. Santa Monica, CA $8.54 psf
  5. San Jose, CA $8.47 psf

Five least expensive city-markets – Total operating expenses:

  1. Salt Lake City $4.87 per square foot (psf)
  2. Atlanta $5.57 psf
  3. Phoenix $5.60 psf
  4. Cincinnati $5.69 psf
  5. Nashville, TN $5.69 psf

Total operating expenses incorporate all expenses incurred to operate office buildings, including utilities, repairs and maintenance, roads and grounds, cleaning, administration and security. Fixed expenses include real estate taxes, property taxes and insurance. In New York City, average total operating expenses were $11.80 per square foot (psf), while they averaged just $4.87 psf in Salt Lake City. There was a 3.9 percent overall decrease in total operating expenses from 2011 to 2012, underscoring an industry focus on maximizing building efficiency in the face of dwindling income streams. For example, New York City, which also topped the list of most expensive markets for operating expenses last year, saw a decrease of $0.66 per square foot.

The full report is available from BOMA International.

 

 


Visit our website today to learn about the design flexibility of a Morton building and the endless possibilities of partnering with our designBUILD team.


Wood construction is both cost and energy efficient. Check out Morton Buildings and our designBUILD team online today to discover all the benefits of post-frame construction.


When choosing a metal-clad building for your next construction project, consider Morton Buildings, Inc., and their designBUILD team, we’ll make your dream a reality.

We Can Help You Reduce Energy by 30%

Our mission is to help our customers manage their buildings' energy costs, improve reliability, and enhance performance while having a positive impact on the environment.
CLICK HERE to find out how.

 


Visit our website today to learn about the design flexibility of a Morton building and the endless possibilities of partnering with our designBUILD team.


Wood construction is both cost and energy efficient. Check out Morton Buildings and our designBUILD team online today to discover all the benefits of post-frame construction.


When choosing a metal-clad building for your next construction project, consider Morton Buildings, Inc., and their designBUILD team, we’ll make your dream a reality.

We Can Help You Reduce Energy by 30%

Our mission is to help our customers manage their buildings' energy costs, improve reliability, and enhance performance while having a positive impact on the environment.
CLICK HERE to find out how.


 
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