BOMA's "2000 Experience Exchange Report" shows the totalaverageincome for Phoenix commercial office buildingswas $17.43 psf at theend of 1999. Total expenses averaged $8.68 psf.
Subtracting expenses from income gives commercial buildingowners in this area an average net operating income of $8.76 psf,up slightly from a year earlier. The average net operating incomefor the 78 US office markets surveyed was $11.09 psf, theWashington, D.C.-based trade association says.
Phoenix's numbers are typically lower than the nationalaveragebecause its rents are much lower than those charged in NewYork, San Francisco, Boston and other much-larger markets. Morethan 650 million sf of office space in more than 3,000 buildingsacross the US were surveyed for BOMA's annual report.
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