Maintaining a position on the Forbes Top Ten List of Fastest Growing Cities in the U.S., Charlotte, NC continues to be a popular destination for new residents and businesses alike. Positioned at number five on the 2012 Forbes list, up from number nine in 2011, the city saw a 1.7 percent growth 2012 year and a whopping 32.8 percent increase since the year 2000.
For those starting a new business or already established and looking for new facilities, Charlotte NC office space is plentiful and offers a wide variety of locations. There’s a good selection of properties that will appeal to just about any office-use requirement and budget. If you are interested in touring some of the best executive office space in Charlotte, fill out the form on the right.
Charlotte NC office space can be found in many of the numerous office- or business-parks within the city or further out in surrounding Mecklenburg County. Although there are no formal, hard-and-fast rules for designating office buildings as Class A, Class B or Class C occupancies, some generally-accepted guidelines do exist. Classification of “B” and “C” buildings is usually made relative to what is considered a Class A or “premium” occupancy in a particular market. Additionally, classifications are relative to the entire surrounding market, with a building deemed to be Class A in one area possibly considered a Class B in a different market.
That being said, following are some general characteristics of the three classifications within which buildings offering Charlotte NC office space fall. Determining factors for assigning a particular building with a certain classification often include:
- Ease of access from freeways and/or public transportation
- Construction type
- Condition of common areas
- Elevator access (number/speed of elevators)
- Floor-load capacity
- HVAC system capacity
- Life-safety and security systems in place
- Back-up generator for auxiliary power supply
- On-site (or nearby) facilities such as restaurants, dry-cleaners, ATMs, etc.
Generalized Building Classification Characteristics
Class A – these represent the highest-quality buildings in a particular market, both in aesthetics and construction quality. They have a high level of building infrastructure, are professionally managed and have a good location with easy access. Because they are considered the best in their particular market they naturally attract the best-quality tenants and command the highest lease rates.
Class B – these are well maintained yet slightly older than those in the class A category. They are also well managed and attract high-quality tenants. A Class B building in a good location can often be brought in line with other nearby Class A structures through a well-applied exterior “facelift” and some common-area improvements. For this reason, Class B structures represent an especially attractive opportunity for real estate investors, assuming they have been well maintained and have not become functionally obsolete.
Class C – this is the lowest class-rated building within which Charlotte NC office space is located. These buildings are generally 20 years of age (or older) and are located in the less-desirable areas of the city. They are often in need of substantial renovation work, less appealing in their architecture and are likely outdated regarding infrastructure and technological advancements. Office space in Class C buildings typically takes the most time to lease out and, consequently, will have the lowest-cost lease terms available.
As stated earlier, the guidelines outlined above are neither standardized nor scientific. There is some degree of general acceptance among local commercial real estate professionals as to what constitutes a Class A, Class B or Class C occupancy but, for an individual business owner, the question is what works best for you.
YourOffice-Ballantyne is located in the award winning Ballantyne Corporate Park and is Class A office space. Stop by or schedule a tour today.