Office Tips

Commercial Property / Commercial Real Estate / Office Tips

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 to your business. If you make a mistake, you could end up paying too much for a lot of years.

Consider what "class" of office property is most appropriate for you.

Class A Property:
Building has excellent location and access to attract the highest-quality tenants. Building must be superior construction and finish, relatively new or competitive with new buildings, and 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 a "Class A" property than a "Class C."

Class D Property:
Older building in need of extensive renovation as a result of functional obsolescence or deterioration. Use our handy Office Property Checklist to help you evaluate office space.