Class A Space: What does it mean?

- Leased

Office buildings are classified by a simple A, B, C rating system, which was established by BOMA – the Building Owners & Managers Association – in order to simplify categorization. As you could probably guess, class ‘A’ buildings are the highest quality and command the highest rents. There are a combination of factors used in determining the class, including rental rates, building finishes and system standards. Chances are you could ascertain a building's rating by simply glancing in the lobby.

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Office buildings are classified by a simple A, B, C rating system, which was established by BOMA – the Building Owners & Managers Association – in order to simplify categorization. As you could probably guess, class ‘A’ buildings are the highest quality and command the highest rents. There are a combination of factors used in determining the class, including rental rates, building finishes and system standards. Chances are you could ascertain a building's rating by simply glancing in the lobby. It’s a subjective process and I always liken it to identifying a person by saying they are short or tall – just depends on who they're standing next to. Lineup From BOMA:

Class A - 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. Class B - Buildings competing for a wide range of users with rents in the average range for the area. Building finishes are fair to good for the area. Building finishes are fair to good for the area and systems are adequate, but the building does not compete with Class A at the same price. Class C - Buildings competing for tenants requiring functional space at rents below the average for the area.

July 25, 2012