What Are Office Building Classifications?
Not all office buildings are created equally. While two spaces may share the same amenities and square footage, location and building conditions are other factors that need to be considered before investing in an office space. Four general classifications have been developed to help differentiate between the types of office buildings. Here are the differences between each of them.
Class A: These are the most prestigious and expensive office buildings on the market. They are typically newer constructions, in prime locations, and have high-quality finishes.
Class B: These buildings are generally older than Class A office buildings, but have been well-maintained and are still in good condition. They may not be in as prime of a location as Class A office buildings, but they offer more affordable rents.
Class C: These buildings are the most dated and least prestigious of the four types. They may be in less desirable locations, have low-quality finishes, and need repairs. However, they offer the most affordable rents of the four types.
Class D: These buildings are the most distressed and in the worst condition of the four types. They may be in very poor locations, have been abandoned or neglected, and maybe in need of major repairs. However, they offer the cheapest rents of the four types.
Which type of office building is right for your business? That depends on a variety of factors, including your budget and the location you are targeting. However, it is important to be aware of the different types of office buildings available on the market so you can make an informed decision when searching for space.