Determining Commercial Building Class Types
In commercial real estate building class is an important factor to consider when determining which sort of office will be most suitable for your company. While one building may seem comparable to another, upon closer analysis, frequently they will be quite different.
Office buildings are classified into three categories (A, B, and C). While standard of class qualification is largely subjective, there are some general guidelines to determine class. The class can be determined by age, amenities, technology capabilities, quality of HVAC systems, landscaping and how well the building has been maintained.
Class A: These buildings are considered the highest quality available and state of the art. This is due to their modern architecture, sound infrastructure, well functioning HVAC system, professional management, tighter security and altogether well manicured appearance. Generally, these buildings will be under 10 years old. Thus, a Class A building or office space will be the most expensive.
Class B: These buildings are still high quality, but may be a little out-dated. The average age will be between 10 and 20 years. Even in this case many tenants and/or landlords find these buildings to be a good investment. The technology capabilities may not be best in class, but typically will suffice. Security may or may not be on staff and typically it is not required to check in, in order to reach the space. While the amenities of Class B spaces rank average, with some faÃ§ade work, a bit of interior redesign, along with an upgrade in management these buildings and spaces have the potential to be converted to a Class A status.
Class C: This class varies depending upon location (city, suburb, town, etc). These buildings are generally 20 years old at minimum. Some may be well kept, however, normally these buildings will lack many modern amenities. Technology will be lower quality and the HVAC system may not function well. In addition, this could include old elevators and mechanical systems, moderately run-down parking lots, and out-of-date furnishings. These buildings will not have security staff or food available on the premises.
For more information on building class or leasing contact Bill Himmelstein: firstname.lastname@example.org