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 Class A office space?
Class A buildings are coveted, highly sought spaces of significant size, usually in a central location. In a central business district, this could mean 250,000 square feet or more of office space; in a suburban location or smaller metropolitan area, a 50,000 square foot building might qualify.
What is a Grade A office building?
According to the Building Owners and Managers Association (BOMA), a Grade A building has ‘high quality standard finishes, state of the art systems, exceptional accessibility and a definite market presence.’ In addition to this, a good way to determine the class of a building or office space is through height.
What does class A building mean?
Class A. These properties represent the highest quality buildings in their market and area. They are generally newer properties built within the last 15 years with top amenities, high-income earning tenants and low vacancy rates. Class A buildings are well-located in the market and are typically professionally managed.
What are commercial building types?
Commercial property includes office buildings, medical centers, hotels, malls, retail stores, farm land, multifamily housing buildings, warehouses, and garages. In many states, residential property containing more than a certain number of units qualifies as commercial property for borrowing and tax purposes.