Finding Office Space: A Guide to Office Classifications
When looking for office space with your Tenant Rep Broker you will be faced with various office space categories or "classifications", namely Class A, Class B & Class C office space. Whilst there is no definate formula of classifying office space, the various categories are generally used to differentiate office buildings and report on market data.
The general characteristics of each Office Space Classification are as follows:
Class A Office Space
These are the most sought-after offices of the highest quality, and have recently been redeveloped to a very high standard. These offices occupy prestigious locations across the United States and, as a result attract high quality tenants and command high rental values.
Class B Office Space
Class B Office Space typically appeal to a wide range of companies; mainly because they are much more affordable office space. These office properties are generally a little older but well-maintained and fitted out to a good standard.
Class C Office Space
This is the lowest classification of office building. They are usually more than 20 years old, in a less desirable location and in need of renovation. As a result, they have lower rental levels than those charged for Class A or B offices.
To help you find the right quality office accommodation that matches your business, hire a Tenant Rep Broker who will be able to guide you through the various options that match your budget and office space requirements.
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