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Class B Office CAM Reconciliation Guide for Landlords

Typical CAM pools, billing errors, gross-up mechanics, and BOMA standards for class b office properties.

Benchmark CAM per SF

$7.00 – $13.00 / SF

Source: BOMA EER / IREM 2024

Gross-Up Applicability

Very relevant — Class B buildings often have higher vacancy rates than Class A, making gross-up calculations critical. Variable operating expenses should be adjusted to reflect a standard occupancy level (typically 90-95%).

Typical CAM Pools

  • Janitorial
  • Utilities (common area)
  • HVAC maintenance
  • Elevator maintenance
  • Landscaping
  • Management fees
  • Insurance
  • Property taxes

Standard Exclusions

  • Tenant improvements
  • Leasing commissions
  • Capital expenditures
  • Structural repairs

Common Lease Structures

Modified grossNNNFull-service gross with expense stops

Common Billing Errors

  • Failing to gross up variable expenses when occupancy drops below 85%
  • Including capital repairs disguised as maintenance
  • Inconsistent base-year calculations across different tenants

Relevant BOMA Standards

  • ANSI/BOMA Z65.1-2024 (Office Buildings)
  • Method A or B depending on floor configuration

Class B Office CAM Context

Class B offices have wider variance in CAM charges due to building age and condition. Older buildings may have deferred maintenance that landlords attempt to pass through as operating expenses.

Industry Benchmarks

Avg Occupancy (2025)
85.8%
Public REIT average
Median OpEx/SF
$17.68
Annual operating expenses
Typical Recovery Ratio
85-95%
Full-service gross leases recover less; modified gross and N...

Source: Public REIT 10-K filings (FY 2025), BOMA EER (2025 edition). Data compiled March 2026.

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Related Resources

Boma/Boma 2024 Adoption RoadmapExpenses/Administrative OverheadCam Reconciliation ErrorsCam Gross Up CalculatorPro Rata Calculator

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