How are office properties often categorized in terms of building class?

Office properties are commonly classified into three categories known as Class A, Class B, and Class C. This classification is primarily based on the quality of the building, its location, amenities, and the overall level of management.

Class A buildings are typically the highest quality office spaces, featuring modern designs, prime locations, and high-end amenities like advanced infrastructure and excellent maintenance. These properties generally attract premium tenants, including large corporations.

Class B buildings are considered good-quality properties but may not have the same level of features or location as Class A buildings. They often appeal to smaller businesses or startups and can be more affordable without sacrificing basic standards.

Class C buildings generally have lower quality and may require renovations or updates. They are often situated in less desirable locations and may attract budget-conscious tenants.

The other classifications, such as Type I, II, and III, refer to construction types or styles (specifically regarding fire safety and building materials), whereas Small, Medium, and Large relate to size rather than quality. Single, Multi-tenant, and Corporate describe how spaces are organized or the types of tenants they serve but do not specifically categorize the quality of the office properties themselves.