Class A/B/C Office Space in Downtown Detroit

[christos]

Does anyone know where I can find how to define class A, B, and C office space in Metro Detroit? BOMA's website is very broad and not very helpful. Also, is there any resource I can find online that can list the market rate for the different classes of office space for Detroit?

[Detroitnerd]

Class A office space in Detroit is newly constructed, with all modern amenities.

Class B office space is space that would be improved to Class A office space in any other downtown, except metro Detroit's skill set is limited to new build-outs or the wrecking ball.

Class C office space: See Class B office space.

[Packman41]

Try the Grubb and Ellis web site for the definitions of A/B/C:

http://www.grubb-ellis.com/Forecast2...FF_2012_1Q.pdf

Grubb & Ellis adheres to the BOMA guidelines.

Class A properties are the most prestigious buildings competing for premier office users with rents above average for the area.

Class B properties compete for a wide range of users with rents in the average range for the area.

Class C buildings compete for tenants requiring functional space at rents below the area average.

[wolverine]

Try the Grubb and Ellis web site for the definitions of A/B/C:

http://www.grubb-ellis.com/Forecast2...FF_2012_1Q.pdf

Grubb & Ellis adheres to the BOMA guidelines.

Class A properties are the most prestigious buildings competing for premier office users with rents above average for the area.

Class B properties compete for a wide range of users with rents in the average range for the area.

Class C buildings compete for tenants requiring functional space at rents below the area average.

Lol, exactly the kind of definition I'd expect from a brokerage firm. In other words, define something as "prestigious" to inflate RSF. You can have a brand new office building priced the same and defined as "Class A" where a vintage building with oddly shaped floorplates and hefty column grids will clock in at the same classification and rent because of recent infrastructure upgrades, lobby improvements, and a fantastic view....or possibly landmark historic.

Class C is rather hard to come by in downtowns. It's often times not all that flexible. It might be in an industrial area or once office space connected to a larger building. In other cases it's small office space above another business in usually an early 20th century or late 19th century building. For some small startups that might be ideal...even better if they got some $$$ to fashion a cool space.

I've done some work transitioning B+ space into class A. Landlord terminated leases, multiple tenants moved out. The double loaded corridor circulation was removed and everything was gutted to the concrete. Floorplan was basically like the Whitney building but more square. After that was done, you had huge expanses of open office. The space was actually more efficient than modern office buildings for single floor tenants because the core utilities were located on the perimeter. The center just had a small light court. With the raised drywall ceilings and exposed ductwork and plumbing it had that modern, up to date loft kind of feeling.

If there's one thing to me that visibly defines class B office space is the abundance of shitty drop ceilings well below their original height and those glorious bulkheads visible in exterior windows. Second to that are interior windowless corridors with offices on each side. Basically with class B you'll be sharing your floor and restrooms with several other tenants.