September 16, 2002—The Building Owners and Managers Association (BOMA) International recently reported that BOMA’s Experience Exchange Report (EER) indicated positive growth in net operating income (NOI) for the seventh year in a row. The 2002 private sector survey results are the averaged responses of 3,266 buildings representing approximately 620 million square feet of space.
Net operating income was $13.20 per rentable square foot at the end of 2001, up 7.06% from the end of 2000. According to BOMA, building owners and managers accomplished this positive NOI growth by increasing total income by 5.77% while only increasing total expenses by 4.23%.
To order either the CD-ROM or book version of the 2002 EER visit BOMA or call 800/426-6292.
Based on a report from BOMA International
