Office buildings are categorized based on a combination of physical characteristics and location. Grade-B and C buildings are always classified according to the qualities of Grade-A buildings. Indeed, no formula can be devised to categorise buildings into classes; judgment unfortunately is always involved. In fact, there are Grade-C office spaces that are not actually office buildings, instead a make-shift office spaces above service or retail businesses.
All in all, a Grade-A building is both a testament and monument to the power and success of its tenants.
A Grade-An office space is described as the highest quality of office space available. Its architecture always prioritizes visual appeal and design over cost, and sometimes even over practicality. Grade-An office spaces are well-kept, well-maintained, well-secured, and located in a highly accessible area.
The Office Development Handbook by the Urban Land Institute (ULI), a renowned commercial land uses authority, says, "Class A space can be characterized as buildings that have excellent location and access, attract high quality tenants, and are managed professionally.”
It also says that, “Building materials are high quality and rents are competitive with other new buildings.”
In Singapore, being a space-hungry financial hubs, Grade-An office spaces are important and sought-after. Because of companies looking forward to expansion, prices and rent of Grade-A space skyrocketed in the last two years.
However, because of the global economic crisis, there is a low supply in Grade-An offices and rent prices plummeting as well. Nonetheless, the demand for Grade-A offices are still solid. Many companies still need to keep certain address and image.