The cost of running the building — utilities, maintenance, security, management.
Lease economics · Global
The cost of running the building — utilities, maintenance, security, management.
Op-ex includes utilities, building maintenance, cleaning, security, management fees, insurance, and minor capital items. For a Class A US office, op-ex typically runs $12-$20/RSF/year. In London the equivalent is the service charge — typically £8-£18/sqft. Op-ex is the most common source of post-lease disputes; insist on annual reconciliation rights and audit access.
Operating expenses (op-ex) is part of the lease economics vocabulary that institutional Class A occupiers, landlords, and advisers use across Global markets. Understanding it correctly affects how you read lease documents, model occupancy economics, and benchmark deal terms across cities. Class A Atlas tracks regional variation alongside the global standard so cross-border occupiers can translate quickly.