Industry News




 

07/21/2014

Office Income and Occupancy on the Rise

Spaces grow denser as the industry emerges from a slump

 
Office

Income and expenses are both growing for privately owned office buildings, suggesting that building owners and managers may be cresting a post-recession hill.

Rental income increased by 7.2% and overall income climbed by 7.4% in 2013 compared to 2012, according to BOMA International’s 2014 Experience Exchange Report, an annual benchmarking survey. Total operating expenses grew by 5.3%, while total operating plus fixed expenses grew by 5.6%. The growth of both income and expenses together indicates growth, BOMA analysts say in a recent statement.

The survey also revealed increases in office occupancy rates and weekly operating hours, while square footage per office worker decreased. The findings indicate that more people are occupying the same space for longer periods of time, explaining the simultaneous increase in expenses, BOMA says.

“Densification of space is reshaping the commercial real estate landscape,” says John G. Oliver, chair of BOMA International and managing principal for Oliver & Company. “Increases in both income and expenses in this year’s EER indicate both strong industry growth as well as an adjustment to a denser office environment.”

 


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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.

Add highly responsive multi-zone comfort to any building project, in any climate. Our CITY MULTI H2i R2- and Y-Series VRF systems give you flexibility to fit the needs of any building. Enjoy 100% heating capacity at 0°F outdoor ambient, and 85% heating capacity at -13°F outdoor ambient.  For more information, log on to www.mitsubishipro.com

 
12/19/2014

Agreement will improve sustainability in parking operations.

12/18/2014

Ruling aims to make U.S. photovoltaics more competitive.

12/17/2014

Tests show geothermal could cut costs up to 44%.

12/16/2014

New provisions added before end of session.

12/15/2014

Ultraviolet regimen can reduce incidence of dangerous viruses up to 20%.

12/12/2014

New design keeps heat from entering buildings.

12/11/2014

Provision covers new construction and retrofits.

12/10/2014

New rule will cut consumption by 15-20%.

12/09/2014

Recent rainfall not enough to offset groundwater losses.

12/08/2014

New technology allows record-high energy output.

12/05/2014

New “heat mirror” could revolutionize facility cooling.

12/04/2014

Education improves efficiency and employee happiness.

12/03/2014

Interactive building guide provides directions.

12/02/2014

Study shows walking at work can improve focus, mental health.

12/01/2014

Ruling would further limit smog emissions.

11/26/2014

Survey shows green initiatives pay off in hiring as well as energy.

11/25/2014

More executives choosing alternatives to LEED.

11/24/2014

EPA challenge to increase diversion rates for the holidays.

11/21/2014

Framework allows users a better look at roofing's environmental impact.

11/20/2014

Study finds paper towel dispensers carry far fewer germs.

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