Assets can be categorized based on numerous factors including geographic location, age, amenities, etc. General guidelines for determining these classifications exist, however there is no universal criteria.
Class A office buildings are typically new or recently renovated and are located in a highly sought after area of a major city, such as the central business district. Interior build outs generally feature tenant and common area spaces with high-end finishes and quality construction.
Class B properties are commonly found outside of the central business district. These assets are generally older than Class A projects and are average in terms of facilities, building materials, and interior finishes.
Class C properties are older than Class A and B properties and are normally located in suburbs or areas with lower demand. Benefits of Class C properties include competitive rental rates and strong occupancy rates.