Office Property Classifications
Office buildings range from small, owner-occupied properties to multi-building office parks. Below are the industry classifications for office property:
- Class "A"
A building with excellent location, high tenancy quality and superior maintenance. Building must be superior construction and finish, relatively new or competitive with new buildings, while providing professional on-site management. Overall, these properties are within the top percentage of market desirability. - Class "B"
A building with average to above average location and tenancy quality. Minor functional obsolescence. Can compete with low end of Class A. - Class "C"
A building with average to poor location, management, design and tenancy quality. Generally an older building with growing functional land, economic obsolescence and/or deterioration.