Report Reveals Decrease in Operating Expenses

BOMA and Kingsley Associates have released a report documenting a 1.1% decrease in total operating expenses for U.S. private-sector buildings in 2009.

Some of the highlights of this BOMA-Kingsley report include:

• Fixed expenses jumped 9% at corporate facilities and 4% at medical offices - As opposed to 2% at general multi-tenant buildings.
• Utility expenses were cut across the board, from general multi-tenant buildings cutting $.08 per square foot from costs, with corporate facilities doubling those savings – Government facilities almost tripling those savings.
• New York City maintains its status as the most expensive area in terms of operating costs.
• Energy efficiency is becoming a standard that will outlast the economic downturn.

The full BOMA-Kingsley report can be found here.