![]() ![]() In addition to quality, office space can also be categorized into different types. ![]() These properties are sometimes slow to lease and occupied by tenants requiring value office space.Ĭlass C offices can also appeal to small, start-up tenants as it allows them to allocate much of their financial resources towards growth while keeping a sufficient roof over their heads.Įxamples of these types of office buildings in the Austin area are: If you are a company that is looking for a functional space with below-market rates, or if you are a commercial real estate investor interested in purchasing a redevelopment opportunity, then Class C buildings may be an option.Ĭlass C properties are typically very dated, with minimal amenities, and located in less desirable locations. CBD: 800 Brazos, while most properties in the CBD are considered Class A, there are a handful of towers that are actually Class B options. ![]() The buildings themselves are usually considered average, and the rental rates they draw are average for their markets.Įxamples of Class B office buildings in the Austin area are: Rental rates for Class B buildings will typically be lower than Class A. These properties typically have good amenities, management companies, and tenants, and can even be brought up to Class A standards with common area renovations and amenity upgrades. Oftentimes, a Class B office building was originally Class A but has been downgraded due to age and deterioration. Age is a common factor contributing to a building being considered Class B, as they are usually older than their Class A counterparts. These buildings can be found in major commercial areas, but are more commonly found in the suburbs. If you are a company that wants to office in a quality building but are unable or unwilling to pay high rental rates, then Class B offices may be a great alternative. To learn what Class A rental rates are in Austin, read our article How Much Does it Cost to Lease Office Space in Austin, Texas? Class B Office SpaceĪs you may have guessed, Class B office buildings are going to be slightly lower than Class A in terms of quality. Southwest: The Terrace, home to Drilling Info, Broadcom, Bowman and Brooke, and MedSpringīecause Class A space is the nicest space, it also commands the highest rents.Northwest: 7700 Parmer, prominent tenants include eBay, Paypal, Google, EA, Fico, and Oracle.CBD: 210 West 7th, headquarters of The University of Texas System.Some examples of Class A office buildings in Austin’s primary submarkets include: These buildings are also typically conveniently located, either in the epicenter of central business districts or along major streets, highways, or transit centers.ĭowntown skyscrapers and prominent office campuses are typically Class A properties. The building’s common areas will have high-quality finishes and amenities such as covered parking, fitness centers, leisure areas (putting greens, pool rooms, spa center), an on-site mailing office, restaurants, or cafeterias. While there aren’t any all-encompassing rules to these classifications, they are typically based on quality factors such as building age, amenities, and aesthetics.Ĭlass A space is comprised of the nicest space in the market.Ĭlass A buildings are generally either new developments or properties that have had significant improvements and renovations in recent years. Office properties are typically divided into three main categories, Class A, Class B, and Class C. This can impact the area in which your office is located, the age of the building, what kind of amenities the building offers, and, essentially, the class of building you can consider. When beginning the search for your office space, one of the first things you must decide is how much money you have to spend on real estate. Read Next: Shell Space, 2nd Generation & Spec Suites: Real Estate Definitions & Benefits of Each Classifications of Office Space Types of office space, including Traditional Office, Creative Office, C o-working Space, Executive Suites, and Flex Space.Classifications of office buildings, including Class A, Class B, and Class C.Luckily, there are industry standard classifications, which allow you to compare properties on an apples-to-apples basis.īelow you will find definitions and overviews of: The different types of office properties and styles of office spaces can be difficult to compare and understand if you’re new to commercial real estate. We at AQUILA know that when beginning to look for office space, it can be hard to know exactly what you’re looking for. ![]()
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