The ABC’s of Real Estate

The ABC’s of Real Estate

liberty centerDid you know that office buildings have a rating system?  We often will say a building is a Class A building—but what does that really mean?

Class A Buildings

A Class A office building means the building is either less than 7 years old, or the lobby has been upgraded in the last 7 years.  There will be a large lobby.  Often the lobby will be several stories high.  The building will have a cafeteria.

Class B Buildings

A Class B building may be a brand new building that is only a couple of stories high.  Or it could be a former Class A building that hasn’t been updated.

Class C Buildings

A Class C building is a building that has obsolesces.  It is older; it may have several stories but not have an elevator.

Flex Space

Then, to make matters even more confusing, we have the Flex Space. In Flex Space, you’re looking at higher ceilings so that you can store inventory (flex space = more options in terms of what sorts of businesses you can have in the space. You may also have an overhead door on the back of the space to make moving inventory easier.

So, why do the classifications matter? It is important to understand the differences in the various spaces, because any table that shows rental costs will break them down into these categories.

Want to see pricing differentials for yourself?

If you would like a current report showing office marketing rates in the Detroit area, please send us an email to info@compass-commerical.com.

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