Last year I renewed the BOMA 360 Performance Designation for Pleasanton Corporate Commons. Unlike the LEED certification we received that recognized our sustainable operations (and superior performance relative to other assets in our market), the BOMA 360 program’s purpose is to “promote standards of operational and management excellence in commercial properties, and to provide a valid and objective evaluation of these properties as a service to the public, namely tenants, and the industry.”
First, some background.
BOMA (Building Owners and Managers Association) is an association of commercial real estate property managers, vendors and owners – although I see very few (to zero) owners at these events. It is one of the larger associations supporting the commercial real estate industry, in particular office properties. The BOMA 360 program is in addition to the long-standing TOBY (The Outstanding Building of the Year) award BOMA bestows on properties annually. The TOBY awards are a competition among properties in specific categories: corporate facility, earth, government, historic, industrial office, medical, renovated, a few suburban office categories and categories grouped by square foot. Where the TOBY awards go through a review process and judging at local, regional and international levels, BOMA 360 uses much of the same information, but not on a competitive level. Any project that meets the requirements is able to receive the BOMA 360 Performance Building designation.
I’ve done work while on a committee in our local BOMA chapter to encourage participation in both the BOMA 360 designation and the TOBY awards process. The TOBY documentation is relatively similar to the data required for the BOMA 360 designation. We developed a simple chart that highlights the similarities and differences:
There’s a bit of additional work on the BOMA 360 side of things with regards to the several categories, but the nice thing about the 360 program is the fancy binder, professional photos, binder compilation and property tour are not required.
What BOMA 360 Designation Means…
A BOMA 360 designation demonstrates your expertise in the property management field. It indicates, the group that manages this asset took the time and has the knowledge to write, develop and implement the necessary practices for operational excellence. This subtle message may not be recognized by your tenants, it does make for a nice story about property and the team responsible for the day-to-day operations.
How to Get the Designation:
Hopefully it’s clear the designation is a good thing. If you have a solid management program in place it’s easy to gather the documents required to submit and the costs are minimal.
If you’re interested in exploring further, I created this checklist as a guide to figure out what you need to do. The checklist breaks down each category and the exact requirements. Run through each section, identify the points you already have (via a yes, no and maybe rating) and get an idea for the work required to wrap up your submission and complete the designation. This checklist should make it easy to figure out where you are, what you need and how to move forward to submission.
If you need help, want guidance or you are missing a document, I can help.