Building  Owners  and  Managers  Association  International

Building Owners and Managers Association International

Industrial Revolution: How EastGroup Properties is “Manufacturing” Success with BOMA 360

The BOMA 360 Performance Program® has added more industrial properties to the growing list of BOMA 360 buildings with the recent designation of EastGroup Properties’ nine-building industrial portfolio in Southridge Commerce Park (Orlando, Florida). Having already won the BOMA International TOBY Award in the Industrial category, Southridge was looking to up the ante for industrial property management once again. Senior Property Manager Luci Smith says of the recent designation, “We knew that submitting these nine buildings for the BOMA 360 designation was the logical next step for our portfolio, and we’re proud to be ​the first BOMA 360 industrial buildings in Florida, and the only BOMA 360 industrial park in the nation.

southridge commerce park buildings.jpgA key benefit that Smith and her team experienced from the application process was helping tenants lower energy costs. “Managing NNN industrial properties is unique, in that the tenants are all responsible for their own utility consumption and costs; we have very little control over how they perform.  However, we found that the energy efficiency part of the 360 program was especially important to tenants. After assuring tenants that I would have no access to their actual energy bill account information and that the final result could be helping them LOWER their costs, they jumped right on the bus.  We were then able to begin benchmarking the buildings in ENERGY STAR Portfolio Manager, which is an integral part of the 360 program.”

In addition to being a tremendous learning tool for management teams and identifying areas for improvement, it’s hard to overlook the recognition incentives of the BOMA 360 designation. “BOMA 360 distinguishes our property from other properties for potential and existing tenants because it shows we are managing our properties to the highest standards and are as concerned about their health, safety and wellbeing as we are of our physical buildings,” explains Smith. “Tenants enjoy being involved in the process and several have asked for copies of the award certificate letter.  Now, the challenge is deciding in which of the tenant spaces to display the award.” For Smith and her team at EastGroup Properties, BOMA 360 is an important part of their best practices strategies for the present and the future. “We are looking forward to continuing this program with all of our properties in Southridge and Horizon Commerce Park, our newest development in Orlando.”

Smith has been an active leader with BOMA/Orlando for years, and she has been involved with the BOMA International Industrial Committee since 2013. “Managing an industrial property is very rewarding, and we are so glad that BOMA has not only embraced our market niche, but encouraged our involvement in BOMA 360,” says Smith. BOMA’s industrial offerings continue to grow. In 2015 BOMA will introduce the first Experience Exchange Report (EER) on industrial income and expense, furthering its commitment to industry standards and recognition. When it comes to bolstering the industry footprint, Smith notes, “We are always looking for unique ways to help engage industrial managers and owners in their benchmarking while showcasing opportunities for these type of properties.”