Power Center CAM Reconciliation Guide for Landlords
Typical CAM pools, billing errors, gross-up mechanics, and BOMA standards for power center properties.
Benchmark CAM per SF
$3.00 – $7.00 / SF
Source: ICSC / IREM 2024
Gross-Up Applicability
Less relevant for the overall center — power centers are typically fully leased. However, when a big-box space goes dark, gross-up mechanics become critical for remaining tenants.
Typical CAM Pools
- Parking lot maintenance
- Landscaping
- Security
- Lighting (common area)
- Management fees
- Insurance
- Property taxes
- Signage maintenance
- Stormwater management
Standard Exclusions
- Capital improvements
- Leasing commissions
- Pad site expenses
- Individual tenant signage
- Above-standard maintenance for big-box tenants
Common Lease Structures
NNNNNN with fixed CAM (for anchors)Hybrid CAM with controllable expense caps
Common Billing Errors
- Passing through dark-store maintenance costs when the anchor's lease makes them responsible
- Incorrect pro-rata calculation when big-box tenants have exclusive parking areas
- Including capital parking lot resurfacing as a maintenance expense
Relevant BOMA Standards
- ANSI/BOMA Z65.5 (Retail Buildings)
- GLA measurement for large-format retail
Power Center CAM Context
Power centers feature big-box retailers (Home Depot, Target, Best Buy) with substantial negotiating leverage. Anchor leases often include CAM caps, co-tenancy clauses, and exclusive-use provisions that complicate reconciliation.
Related Resources
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