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What makes an office building Class A?

What makes an office building Class A?

They are generally the best looking buildings with the best construction, and possess high quality building infrastructure. Class A buildings also are well-located, have good access, and are professionally managed. As a result of this, they attract the highest quality tenants, and also command the highest rents.

What is a Grade A office building?

Grade A is the most sought-after and usually comprises of a new or recent development in a key business location, such as London. The systems and furnishings included are state of the art and the fit-outs are stylish and to a very high standard.

What is a Grade A commercial building?

Grade A buildings are those that enjoy a premium over the average rent prevailing in the area where they are located because they a usually newly built and have all the requisite infrastructure. Grade A buildings get famous corporates as tenants and often compete among each other to house the biggest of the companies.

What is the definition of a Class A building?

Class A. Most prestigious buildings competing for premier office users with rents above average for the area. Buildings have high quality standard finishes, state of the art systems, exceptional accessibility and a definite market presence.

What is the classification of an office building?

When considering office space, tenants will find that office buildings are generally classified as being either a Class A+, Class A, Class B, or a Class C building.

How tall is a Class B office building?

The majority of Class B buildings are fewer than four stories tall and are often found in the suburbs or on the edge of large financial districts. Another factor that separates Class A and B buildings: age. Class B buildings are typically older than Class A buildings and may be experiencing some deterioration.

Is there such a thing as a Class C office building?

Some Class C properties remain occupied, commanding lower rental rates and attracting tenants with smaller operations that cannot afford nicer spaces or that do not need their businesses to be located in centralized hubs. Other Class C buildings are sold as rehabilitation opportunities.

What are the different classes of office space?

For the purposes of comparison, office space is grouped into three classes in accordance with one of two alternative bases: metropolitan and international. These classes represent a subjective quality rating of buildings which indicates the competitive ability of each building to attract similar types of tenants.