Commercial real estate is a very complicated business. There is always a lot of information to know as well as information to keep learning. Brokers are continuously educating themselves to better help their clients achieve their goals.
First thing to know is that office buildings have a rating system.
Class A Building:
A Class A office space means that the building is less than seven years old, or that it has been updated in the last seven years. Many times the building will have a cafeteria
Class B Building:
A Class B office space might be brand new, and only a couple stories high. It could also be a Class A Building that has not been updated.
Class C Building:
A Class C building is a building that has obsolesces. It is probable older, and although it may have several stories, it will probably not have an elevator.
Flex space, usually in the indusrial market, will have higher ceilings to store inventory. It may also have an overhead door.
So why does all of this classification matter?
Knowing the differences between these properties will help you understand the differences in various spaces as well as understand the cost of each of the properties.
For more information take a look at the full article at The Broker List.