Property Classes Objective Criteria

[Jeff B.]

According to Building Owners and Managers Association International:
(http://www.boma.org/research/Pages/building-class-definitions.aspx)

Property Classes have objective criteria as follows
Metropolitan Base Definitions

Class A

1. 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

1. 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

1. Buildings competing for tenants requiring functional space at rents below the average for the area.

Knowing the neighborhood in which your project is located will help you avoid over capitalization only to later discover, you can't market your castle in that area of town