Office properties are defined as commercial properties used to maintain or occupy professional or business offices. Office properties are typically classified as Class A, B, or C type properties. The specific office class refers to the design, condition, functionality, and overall desirability of the property. Class A property types will generally command higher rents. The term office can refer to floors, parts of floors, an entire building, or an office park of which each office space can be used for a variety of purposes.
Changing market conditions may have a significant impact on the value of an office property. Cornerstone Appraisal keeps abreast of the changing office market trends and actively maintains an understanding of the dynamics of the office industry.