| Term |
Definition |
Facility Conditions / Assessments
|
A summary of the current conditions and required capital improvements for each facility. ASTM (American Society for Testing and Materials) Standard 2018 provides a technical standard for these assessments and refers to these activities as Property Condition Assessments. Facility Condition Assessments often include a Facility Condition Index (FCI) which provides a benchmark to compare different facilities condition based on required capital expenditures as a share of the facility’s replacement cost.
|
Lease expirations, options
|
The end of the contracted term for a leased property. Typically refers to the primary duration of a tenants right to occupy the premises as identified in the lease contract but could also include early termination option dates.
|
Market Data
|
(RE, Labor, etc.) – information from specific companies or across whole industry or geographic segments used for comparison purposes or establishing performance measures.
Specific goals established by an occupier to assess the success of real estate assets in meeting certain business needs. |
Overall Cost Performance;
Operating
|
The expenses for operating a real estate asset (rent, property taxes, utilities, maintenance, security, etc.) or investments made to real property (either capitalized or expensed). Metrics examples include Operating Cost/person, Operating Cost/Square Foot, Investment/Square Foot.
|
Utilization
|
The proportion of a facility’s total capacity that is being productively used, either at a point in time or an average over a period. In office space it typically refers to the number of workstations being occupied as a proportion of total workstations available. In process space, the proportion of current output as a percentage of maximum available output.
|
Delivery Time
|
The time to complete a project and provide beneficial occupancy to the user.
|
Service Level Performance
(SLA)
|
A set of metrics that measures the performance of outsourced service providers as compared to the targets in the outsourcing contracts
|
Sustainability
|
|