If you’ve ever shopped for a office space, you’ve read or listened to many appealing descriptions of properties that sound all too familiar. But sometimes you’ll notice that a certain location you’re looking into is described as a class A building, a term that isn’t usually explained. While this little phrase might not seem important, knowing what this means can help you get a better idea of what kind of work space you're looking at and what kind of benefits it can give you. According to BOMA International (Building Owners and Managers Association), Class A buildings are the most prestigious. They compete with premier office users with above average rents relative to the area they are in. These buildings also have high quality standard finishes, state of the art systems, exceptional accessibility, and a definite market presence.
What it Means: Common Characteristics of Class A Buildings
- Newest in relation to others in the market
- Conveniently located in popular areas
- Aesthetically pleasing; spacious lobbies are typical
- Include amenities within the building like food services, mail collection, and fitness centers
- Require rents that are higher than average for the market
The proximity a building has to outside amenities like banks, parks, or shopping centers only affects its rating if those amenities aren’t nearby to other office buildings too. If multiple office benefit from being close to outside amenities, then it affects the overall office market of an area and not the individual building ratings.
Why it Matters: How a Class A Building Could Benefit You
Aside from the obvious perks like beautiful architecture and on-site amenities, class A buildings offer some less obvious benefits. For businesses that need to maintain an image of prestige, having clients come visit you at your office in this type of building can help project an air of success. Or if much of your business is conducted in a popular area, like the heart of Oakland, California, choosing a building that’s conveniently located can make your days at the office much easier.
But whatever kind of building you choose, knowing what you’re receiving in an office will help you make the best decision for your business. Having a clear understanding of the class A label gives you a more accurate idea of a property’s value more quickly, and the faster you finish your search the faster you can move in and start working to make your business a class A company as well.