Office spaces are designed in all sizes and shapes based on the requirements of the business or company. Industry-standard classifications do help in understanding the various types of office spaces. However, commercial property classification is not an exact science and is ever-changing.
Office Space Classification
Office space classification and categorization depend on various factors. Different types of office buildings in a given area would be categorized based on their market, owners, etc. Following are some of the important factors to keep in mind when leasing or renting office space for your company:
- Location of the building
- Amenities offered
- Age of the establishment
- Infrastructure & Layout
- Curb appeal
- Lease & Rent conditions
- Maintenance
Type Of Classification
Commercial office spaces are divided into different categories based on their features. The above factors of classification keep changing with the trends in the business markets. Following are the three types of office space. To sum up, the category in easier words:
- Class A
- Class B
- Class C
Class A Office Spaces
Class A office space is the crème de la crème of the office space pool, with the best location and amenities for businesses. They provide high-quality amenities such as a fitness center, covered parking, designated leisure areas, lounging areas, and a café. Buildings conveniently located allow businesses and companies to benefit from easy access to transit hubs. The highest leasing and rental rates are typically found in Class A offices. Features of class A offices include:
- Prominent location
- Top of the line amenities
- High-quality establishment
- Specially designed common areas and lobbies
- Fitness center
- Dedicated leisure areas
- Huge conference rooms
- Media room
- Cafeterias
Class B Commercial Space
Class B classification houses slightly fewer fine office spaces than class A. Suburbs and significant commercial office buildings house Class B type of office spaces. Leasing Class B offices is a good choice as these properties have initially been Class A. Age and wear down of the property push the Class A office spaces to fall into Class B. Features of Class B include:
- Prime location
- Older foundation
- Average amenities and services
- Reasonable rentals than Class A office space
- Good ownership
Class C Office Spaces
Class C lies on the third number based on age, location, and other factors. Class C office spaces mostly have room for redevelopment and below-market rental rates. Functional areas, minimal amenities, and farther places make them perfect for start-ups and budding businesses. The main features of Class C office space include:
- Minimal amenities
- Older building construction
- Poor location
- Lower rental rates
- Value office spaces
Conclusion
Classification of different office spaces can be confusing for some to lease Austin office space. Choose what works best based on your budget and requirements.
