Office Building Classification Guide

What does the Office Building Classification mean? What is the difference between Class A, B and C buildings? When searching for new office space, a tenant will quickly realize most buildings are classified into one of three categories.

The factors that determine a different class of construction in each market, no definitive formula is used to classify a building, but a general definition for each class is provided below.

Class A Office Building

Class A Office Building Classification is the most prestigious buildings with the most amenities in the best locations. They are often the most attractive buildings built with the highest quality materials and construction methods.

In addition, these buildings often have a professional management company, good access rights and are usually located in conspicuous areas on high roads. Because of their exceptional quality, Grade A buildings are often leased to reputable tenants with the highest rental rates on the market.

Criteria:

• High-rise buildings in the main commercial center.
• A leading building in its market.
• Architecture – Concrete and steel structure, special design, attractive appearance, superior exterior finish on curtain wall, complete high-end interior quality in the main lobby and common area, including ladders machine and toilet.

• Recent construction or very good maintenance and / or recent construction. Well designed and well sized layout to accommodate one or several tenants on the same floor.

• Strong identification location (famous address) – Convenient access (public transport, etc.).

• Managed by a professional company.

• Top tenants.

• Highest rental price.

• Strong market presence.

• Advanced systems meet industry standards – mechanical, electrical and safety systems and security. Backup power system with high capacity.

• Elevators – The number of elevators is sufficient for the number of floors and the population of the building.

• Environment – Certification (Boma BESt, LEED). Practicing sustainability is in place.

• 24/7 security – access control system, surveillance cameras. For smaller buildings or areas in remote areas, on-site access control systems as well as alarms with on-site surveillance.

• Built by reputable developers and contractors.

• Parking – Enough public and private parking spaces to accommodate tenants and guests. 24/7 access to build tenants with on-site security control. Bicycle racks and electric vehicle charging stations have become standard.

• Tenant services – An experienced and professional management company offering a centralized tenant call system, including maximum response times, concierge services, tenant relationship programs, regular tenant activities such as barbecue and holiday breakfasts, welcome new tenant committee, etc.

• Comfort – Connecting the weather-protected walkway, convention center, fitness center, service-oriented retail such as convenience store, restaurant / restaurant style, service Dry cleaning, ATM and Wi-Fi. For independent buildings not located in the city center, eateries / bars and cafes provide above-average service for tenants.

You can click here to find out more Grade A Office Buildings in Ho Chi Minh: https://lookoffice.vn/office-for-lease/grade-a/

Class B Office Building

Class B office building classification is a class below Grade A. In general, they are quite old buildings with good management and quality tenants. It’s no wonder that value-added investors target these buildings with the intention of renovating them back into Grade A buildings.

Grade B buildings are well maintained overall and quite functional. Grade B office buildings usually have an acceptable curtain wall finish, mechanical, electrical and safety systems and adequate security (but not modern). Grade B buildings compete for many users with the average rental price for their market area.

Criteria:

• Old buildings – Good management, quality tenants.

• Building finishing – Fair to good.

• Good quality system.

• Can be targeted by renovation planning investors to restore them to Class A.

• Well maintained – Functional.

• Average rental price.

You can click here to find out more Grade B Office Buildings in Ho Chi Minh: https://lookoffice.vn/office-for-lease/grade-b/

Class C Office Building

Class C office building classification is the lowest of all usable office buildings. These office buildings are generally older and may be located on less desirable streets in older parts of the city, for example. Many of these buildings often have higher vacancy rates than the average for their markets.

Older architecture, less desirable, limited infrastructure and ancient technology identify these buildings. For these reasons, Grade C buildings offer lower rents and may be more difficult to rent. The curtain walls and mechanical, electrical, safety and security systems of sophistication C buildings are often dated and therefore the quality of finish is usually below average.

These buildings attract tenants who sign short-term leases for functional spaces at below average rents.

Criteria:

• Lowest level for usable office buildings.

• Old office building.

• Located on less desirable streets in old areas of the city.

• Higher than average vacancy rates for their markets.

• Unimpressive architecture.

• Limited infrastructure.

• Need to renovate and expand.

• Backward technology.

• Lower rents – it can be difficult to rent.

• Usually targeted for redevelopment.

• Renters require functional space.

You can click here to find out more Grade C Office Buildings in Ho Chi Minh: https://lookoffice.vn/office-for-lease/grade-c/

Office Building Classification Comparation

Source: BOMA

For more guide about office for lease in Vietnam, you can click here: https://lookoffice.vn/leasing-office-news/know-how/

If you want to inquire about a suitable office building classification, contact us today. We offer a free consultation to understand your requirements and put you on the right track.

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