What savings might one have from leasing a Class A office space?

What savings might one have from leasing a Class A office space?

I once had a client who told me he only wanted to see older, well-maintained buildings. When he found out our offices were in a Class A building, he couldn’t understand why we’d deign to pay the extra money. He asked us: what benefit is there to paying more for office space when you can get it for less?

We love our space for many reasons – but here are a few things you might want to consider if you’re looking into Class A vs. other spaces.

  1. Cafeteria:  Your staff will spend less time going out to eat.
  2. Conference room:  Class A buildings usually have a large conference room that is free for the tenants to use.  This allows firms to cut down on extra-large conference rooms.
  3. Employee satisfaction: You and your staff spend a portion of your life in this space—why not make it nice?
  4. Employee attraction:  Once again, there is a shortage of really good talent.  If you think future staff won’t take this into account when making a job decision, think again.
  5. Work out facilities:  Many buildings are putting small gyms with lockers.  Again, think about employee satisfaction—a happy employee is a long-term employee
  6. Maintenance:  Usually in these buildings, there are people on site to oversee the maintenance. God forbid something goes wrong; it’s good to have someone on call!
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About the Author

Lynn Drake’s status is well known in the industry: She’s the commercial realtor focused on maintaining “true north” for her corporate clients. It’s a reputation built on 35 years of commercial real estate experience. Lynn became a commercial realtor in 2001 after 15 years in corporate real estate. Thus far in her career, Lynn has successfully completed over 1,500 real estate transactions ranging from small business tenant leases to the sale and purchase of industrial complexes.