Alliance brings landmark enhancements to building performance information
(Washington, DC – July 21, 2008)—The Building Owner and Manager Association (BOMA) International’s pioneering benchmarking publication, the Experience Exchange Report (EER), will undergo a number of enhancements in the coming year as part of collaboration with well-respected industry research firm Kingsley Associates.
The EER, or “BOMA Book” as it’s known to many in the industry, will move online, allowing users to search a Web-based tool for detailed operating income and expense analysis that has historically been available only in book or CD-ROM formats. Kingsley Associates uses similar online applications for many of its commercial real estate clients.
“We couldn’t be more thrilled about the opportunities this collaboration will afford,” noted BOMA International Chair and Chief Elected Officer Richard D. Purtell, RPA, portfolio manager, Grubb & Ellis Management Services, Inc. “Kingsley Associates brings not only its rich industry knowledge and research expertise, but they also bring with them their clients, including institutional investors, who are eager to leverage operating income and expense benchmarks to enhance their investment decisions.”
“We are very excited to be partnering with BOMA on the future EER,” said Steve Kingsley, founder and president of Kingsley Associates. “The EER has a long history as a key resource for real estate professionals. As it transitions into this new era, we look forward to working with BOMA to make it even more valuable to individuals at all levels of the industry.”
Future users of the EER can expect major enhancements to the data submission process. The survey will feature a new, more user-friendly interface that will aid users in clarifying which income and expense items should be reported on a given line. Features designed to help data submitters confirm the accuracy of their submissions are also planned.
The reporting application will allow users to access the specific information they need through a series of customized queries. The data will then be displayed in a visually appealing and easily understood format that will maximize its usefulness.
“Recent market research indicates that the future of the EER is online,” remarked BOMA International President and Chief Operating Officer Henry H. Chamberlain, CAE, APR. “Kingsley Associates is uniquely qualified to help BOMA elevate the function and performance of the EER as a Web-based tool, and they have an expert understanding of the nuances of commercial real estate and the barriers property professionals face when completing data surveys.”
First published in 1920, BOMA’s EER is the commercial office building industry’s oldest and most widely respected source for building performance information. In 2008, more than 5,000 buildings representing over 1 billion square feet of office space submitted data. The 2009 EER survey will be open from mid-January through March of 2009. Any commercial office building may submit its income and expense data to the EER. All data received from respondents is kept in strictest confidence; only aggregated analysis and summary level statistics are published in the EER.
About BOMA International:
Founded in 1907, the Building Owners and Managers Association (BOMA) International is an international federation of more than 100 local associations and affiliated organizations. The 17,000-plus members of BOMA International own or manage more than 9 billion square feet of commercial properties in North America and abroad. BOMA’s mission is to enhance the human, intellectual and physical assets of the commercial real estate industry through advocacy, education, research, standards and information. On the Web at www.boma.org.
About Kingsley Associates:
The most successful firms in real estate rely on Kingsley Associates for cutting-edge business intelligence solutions. With a depth and breadth of insight unmatched in the industry, we bring thought leadership and passionate client service to every engagement. Kingsley Associates is a leader in real estate research initiatives such as tenant/resident satisfaction surveys, client perception studies, strategic consulting and operations performance benchmarking. On the Web at www.kingsleyassociates.com.
Contact:
Lindsay Tiffany
Manager of Media Relations
BOMA International
ltiffany@boma.org or (202) 326-6365