This is the lowest grade for useable office buildings. These office buildings are generally older and may be located on less desirable streets in older sections of the city, for example. Many of these buildings usually have higher than average vacancy rates for their market. Older, less desirable architecture, limited infrastructure and antiquated technology define these buildings. For these reasons, Class C buildings offer lower rental rates and can be more difficult to lease. Many times these buildings are targeted for re-development. The curtain walls and the mechanical, electrical and safety and security systems of Class C building are generally dated, and the quality of finish is often below
average. These buildings attract tenants who sign short-term leases for functional space at below average rental rates.
Criteria
- Lowest grade for useable office buildings.
- Older office buildings.
- Located on less desirable streets in older sections of the city.
- Higher than average vacancy rates for their market.
- Less impressive architecture.
- Limited infrastructure.
- In need of extensive renovations.
- Obsolete technology.
- Lower rental rates – may be difficult to lease.
- Often targeted for re-development.
- Tenants requiring functional space.
