When you find yourself searching for a place to set up your business or a new office building to move into, you have two options: leasing office space or buying office space. Many business owners opt for the former type of business setup, leasing, for many different reasons and find that leasing office space is preferable. When you set out looking for office space to lease you will come across different varieties of buildings. These are designated as Class A, Class B and Class C buildings. The following will highlight what each type of building consists of and compare and contrast the varieties to help you to determine which type of office space is the right one for your commercial needs.
Understanding the Different Types of Buildings
As mentioned above, there are three different types of office buildings from which you can choose the best one. Class A buildings are ones which are modern in construction and more technologically advanced when compared with the competition, and offer more amenities. They have high quality attributes inside and out. They are also located in more desirable commercial locations. With all of these beneficial traits, you will find it no wonder that Class A buildings are often the most expensive type to lease.
Class B buildings are a bit different from Class A buildings. While they are still modern in construction and have a good amount of amenities, they are not as high tech as their Class A counterparts. They are also usually over 10 years old in construction and are not in as good of a commercial location as Class A buildings are. With that said, they are less expensive and still great options to consider for those who are looking to lease office space.
The last type of office building which can be leased is a Class C building. Class C buildings are the oldest of the bunch, usually 25 years old or more, and are often in desperate need of renovations. These buildings are functional yet have the least desirable characteristics of the bunch and often house tenants who may not have the best of credit. However, the rent is quite cheap on office buildings which fall within this category.
Determining Which Variety of Office Space Is Right for You
When you look into the various types of buildings for your new office location, you may wonder how to pick the right class of building. This can be done by considering a few different aspects including cost, desired location, requested building amenities and age of the building. If you have the budget, and image and amenities are important to you, then a Class A building may benefit you greatly. However, if you are short on funds or trying to budget in the way of lease payments, perhaps the Class B or Class C building would have to do. When it comes to location of the office building, business owners usually want to be in a prime location as this will benefit the business by attracting employees and customers, and making the existence of a large client base more likely. However, keep in mind that location will cost you and you may have to settle for a Class B building in order to save on the lease payments.
You may also have certain desirable business amenities in mind when you are searching for a new office building location. Think about what amenities are necessary and which ones are just luxuries which you may not absolutely need. If you need a good amount of amenities in order to benefit your business and make it more financially sound then choosing a Class B or Class A building is advisable. On the other hand, if you simply need an area to set up shop and do not have to have an office building with stellar amenities, the Class C building may work for you.
Also, the age of the building may be an important deciding factor for you. A newer building will be more eye catching to clients who come to see you and will boast greater safety features than some of the lesser counterparts. In addition, a building which is newer will often mean that you will have less calls to make to the landlord in order to fix problem, (HVAC, services, etc.). Again, newer buildings will be higher cost ones in terms of lease payments so keep this in the back of your mind when reviewing the options.
Knowing the differences between the types of office buildings up front will help you to select office space which is most in keeping with your business needs and financial abilities. You can zone in on the right type of office building and obtain a lease for office space which is affordable, contains your desired amenities, is not too old and is located in the perfect commercial business locale.