You have heard it said countless times that negotiating your new office lease under pressure is a bad idea. Moreover, you have spent some time researching the calculation that lets you figure out rentable square footage. That said, you are not out of the woods yet. You still need to avoid mistakes when leasing office space in choosing an A, B or C rated office building.
Understanding the Office Building Classification
It sounds so simple. You just want an office for your ten or so employees and a sizable conference room. However, making a mistake with the building rating can get costly.
- Class A – Consider the class A office building the Corvette of available spaces. Centrally located, management companies spare no expense to provide the types of amenities that attract high-profile companies. Counter tops do not feature laminates; they present the real thing.
- Class B – A step down from there, you have the class B building. Still well designed and attractive, these buildings have a decade or two under their belts. Your neighbors consist of a broad range of companies that cover plenty of niches. When searching out median commercial space rental rates for an area, real estate professionals and brokers frequently look at this building type.
- Class C – If class A denotes the Corvette, the class C is the Yugo of office buildings. Not much to look at, they have few amenities and precious little by way of marble, chrome or pizzazz. Management companies allow minimum upkeep to leave the space functional.
Should You Pay More for Show?
Leasing office space in a class A office building comes with a big price tag. You pay more for the prestigious address and the opportunity to rub elbows with well-known companies and impress clients. Although it is not necessary to stretch your budget to the breaking point, there are exceptions. When you need to build prestige as an attorney, financial planner or plastic surgeon, this type of building setup can be a worthwhile investment. If you do not have this concern, a class B building will do well. For the business owner who does not anticipate welcoming clients and instead focuses on online productivity or product creation, a class C building can be a great money saver.
Contact us today to find out more about the office building classifications and learn where they are located in your area. Moreover, working with our experts allows you to avoid mistakes when leasing office space in any of these types of office building.