Austin Office Space | Classes
Class A office space in the Austin area. For those of you just looking into Class A office space, most of the time you will find these types of office properties in the downtown areas or the highly developed suburban areas of a city throughout the United States.
As expressed by BOMA, which is the building owners and management association, Austin office space is classified into three categories going from Class A to Class B to the lowest Class C. Each has its own attributes. You can consider the Class A Austin office space the high end office properties having high end amenities.
Factors of Class A office space
Factors include , lease rate, building finish out, systems in place, efficiency, amenities and location placement for the Class A office space. You will find a host of convenient services within a Class A Office space such as, shared conference room areas, eateries, large lobbies and sitting areas, physical fitness areas with men and women’s locker room facilities, nice landscaped walking areas to name a few. These amenities are not present in all Class A office space, however you will find a much higher end finish out within the property.
Austin Class A Office space typically leases for $25+ per square foot per year plus NNN expenses, however there are deals that are below the $25 per square foot lease rate along with potential savings that you can pick up from subleasing Class A office space.
As quoted by BOMA here are the office ratings and their respective definitions.
Class A Office Space in Austin defined:
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 Office Space in Austin
Buildings competing for a wide range of users with rents in the average market leasing rate for the area. Building finishes are fair to good for the locations. Building finishes are fair to good for the area and systems are adequate, but the building does not compete with Class A office space at the same price.
Class C Office Space in Austin
Austin office buildings competing for tenants requiring functional space at rents below the average market rates for the Austin area.