Anytime you look to engage in office space construction, you need to get the details right. Each step needs to be carefully planned in order to ensure that the final product is just what your tenants and/or employees are looking for.
In the course of your preliminary research, you may come across the different classifications of offices spaces as set by the International Building Owners and Managers Association (BOMA). But what does that actually mean for your construction project? Here are 4 things you need to know about Class A Office Space Construction.
1) The Origins of Office Space Classification
To help businesses better distinguish between different types of offices, BOMA established the three classifications of office space. According to the organization,
These classes represent a subjective quality rating of buildings which indicates the competitive ability of each building to attract similar types of tenants. A combination of factors including rent, building finishes, system standards and efficiency, building amenities, location/accessibility and market perception are used as relative measures.
Building amenities include any services, from copying services to food facilities, that are available to employees in the constructed offices. The goal is standardization across international markets, allowing companies to easily determine and choose offices that meet their needs and internal brand.
2) What Does Class A Entail?
Within BOMA’s classification system, Class A is the most desirable type of office. Spaces that fall within this category are the
most prestigious buildings competing for premier office users with rents above average for the area. Buildings have high quality standard finishes, state of the art systems, exceptional accessibility and a definite market presence.
It’s important to note that an office building classified as A is not objectively better than one that is designated with a B or C. That’s because the rating is ultimately subjective, seeking to achieve voluntary standardization but without the objective means of actually ensuring uniformity. Nonetheless, buildings that are classified with an A tend to be at the high end of any type of office construction.
3) The Implication of Classifying Your Office Buildings
If you build an office building designed for external tenants, there is little doubt that achieving Class A status is the most desirable outcome for your project. Now, you can charge rent that is above the average for the area, and will allow your construction project to become profitable more quickly.
Of course, the costs of building this type of space also increase. You will need to account for higher-end finishes, as well as more space per tenant. You might even have to engage in organizational challenges required to bring in external services that provide extra amenities (such as food or exercise space) for your tenant.
Similar implications exist when constructing an office building for your own company. You might raise employee productivity and morale, but will need to pay more for the construction in the process. In other words, whether the higher classification is worth your while depends on your exact situation and needs.
4) Finding the Right Partner to Construct Class A Office Spaces
There is little doubt that construction Class A office spaces is highly desirable if the budget is available, regardless of your intended use. However, you should not proceed without ensuring that you have a reliable construction company on your side that ensures success of the project.
Within a Class A office building, the expectations will be raised. Finishings, and spaces per employee, will need to be just right. The construction materials used in the project also matters. As a result, you should work only with construction firms that have extensive experience and expertise in creating Class A office buildings in your neighborhood.
We’d love to be your partner in this endeavor. Contact us today to learn about our expertise, and get started in building an office building that will benefit anyone working in it for years to come.
