Office buildings range from small, owner-occupied properties to multi-building office parks. Office suites may also be an important portion of "mixed-use" developments, both in new construction or historic rehabilitation properties. Consider carefully what type of space would be most suitable for your business. If you make a mistake, you could end up paying too much for a lot of years. Choose the "class" of office property that is most appropriate for you.
Class A Property:
Building has excellent location and access to attract the highest quality tenants. Building must have superior construction and finish, be relatively new or competitive with new buildings, and must provide professional on-site management.
Class B Property:
Building with good location, management, and construction land tenancy. Can compete with low end of Class A.
Class C Property:
Generally an older building with growing functional land or economic obsolescence. Typically a higher price per square foot will be paid for "Class A" property than "Class C".
Class D Property:
Older building in need of extensive renovation as a result of functional obsolescence or deterioration.