An industry classification system simplifies comparisons of Tucson office space for lease.
The commercial real estate industry has a way to easily compare office buildings. Classification of Tucson buildings with office space for lease as either A, B or C usually relates to
- design and functionality
- the year of construction
- the building location.
Classification of Tucson commercial real estate buildings differs slightly from other locations, but all generally follows a standard pattern:
Class A Buildings
- modern construction
- state-of-the-art functionality and architectural design, infrastructure, life safety and mechanical systems
- located in the most sought-after areas
- best amenities in the market
- typically command the highest rents among all available office space for lease
- offer the least attractive concession packages for tenants.
Class B Buildings
- highly functional
- more than 10 years old
- a less desirable design and infrastructure than Class A buildings.
A well-located, renovated B building can be reclassified as Class A.
Class C Buildings
- more than 25 years old
- not been renovated
- functionally and architecturally obsolete
- located in less desirable areas
- command the lowest rents among all office space for lease and attract the least credit-worthy occupants.