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National Retail

The Cost of Operating a National Shopping Center (Chart of the Week)

IREM

The Institute of Real Estate Management (IREM), an international community of real estate managers, collected the national median income for open shopping centers based on average actual occupancy (AAO). The findings range from $15.28/SF to $25.45/SF. The Northeast and Mid-Atlantic regions reported the highest income/SF for open centers.

The individual expense categories represent open shopping centers by proportion of total operating cost based on AAO. Insurance and taxes accounted for 45% of total operating costs; services consumed 14.2%; maintenance and repair and utilities accounted for 8% and 8.7%, respectively.

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| IREM

For more than 90 years, our members have made us the world’s strongest voice for all things real estate management. Almost 20,000 leaders in commercial and residential management call this home for education, support, and networking. Our CPM®, ARM®, ACoM®, AMO® and CSP certifications are internationally recognized symbols of ethical leadership and a well-managed property. And our tools deliver decades of on-the-job know-how to help members get even better at what they do. Put simply – IREM and its members are here to elevate the profession. If you know real estate management, come get to know us. www.irem.org

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