California Commercial is pleased to receive the prestigious BOMA 360 Performance Building certification on behalf of Hoag Health Center in Newport Beach, California. The BOMA 360 Performance Building program is recognized as the gold standard for identifying efficiently managed and cost-effective commercial real estate properties. While some building certification programs measure energy consumption or architectural design, BOMA 360 examines all facets of building operations and management to recognize an elite group of commercial properties that demonstrate best overall practices.
One requirement to achieve BOMA 360 designation included a third-party group evaluation of Hoag Health Center Newport Beach in the following six categories:
Hoag Health Center Newport Beach demonstrated excellence by meeting or exceeding every requirement in the categories above.
According to a recent Kingsley Associates study, achieving BOMA 360 designation standards not only benefits the property owner, but has a direct impact on tenant satisfaction. 74% of tenants in BOMA 360 buildings reported being satisfied with the value of service received compared to rental rates. Secondly, BOMA 360 Buildings have higher tenant retention rates and command higher rental rates compared to other Class A properties, according to a CoStar study on the BOMA 360 program.
We are pleased to achieve the BOMA 360 standards with Hoag Health Center Newport Beach and are looking forward to growing our portfolio of BOMA 360 recognized buildings. Stay tuned for additional news on the matter.
About BOMA International
The Building Owners and Managers Association (BOMA) International is a federation of 93 BOMA U.S. associations, BOMA Canada and its 11 regional associations, and 3 BOMA International affiliates. Founded in 1907, BOMA represents the owners and managers of all commercial property types, including nearly 10 billion square feet of U.S. office space that supports 3.7 million jobs and contributes $205 billion to the U.S. GDP. Its mission is to advance the interests of the entire commercial real estate industry through advocacy, education, research, standards, and information.
California Commercial was founded in 1991 to provide comprehensive quality real estate services to healthcare and commercial real estate investors.