Boston Class A Office Space
Are you in the market for Class A office space in Boston? Let Boston City Properties lend a hand! In addition to being a leading authority on Boston commercial real estate, we maintain one of the largest and most exhaustive online databases of searchable MA real estate listings around. Our goal is to make it as quick and easy as possible for you to zero in on great Class A space that suits your requirements. We also have skilled commercial real estate agents across the city who are available to assist you in locating suitable space. On top of all of that, our website contains a wealth of resources regarding commercial real estate in Boston and throughout Massachusetts, so you can gain useful insights into the market and more.
What is Class A Office Space?
For the sake of convenience, office space is typically classified into one of three categories: Class A, Class B and Class C. Just as an A is the best grade that you can get in school, Class A office space is the best office space that you can get in a given area. Naturally, what constitutes Class A space in one market may constitute Class B in another. In a major city like Boston, of course, real estate with an A classification is truly the cream of the crop. If you are in the market for it, you likely operate a successful and profitable business.
What are the characteristics of Class A office space?
- Age - These buildings tend to be brand new or at least relatively new. Without question, they have typically been constructed within the last 20 years or so. If they are older than that, they have been properly and extensively rehabbed and retrofitted through the years to keep them up to peak condition. At a glance, any Class A building will look fairly modern.
- Height - Although it's not true in all metro areas, in Boston, Class A structures tend to be high-rises and skyscrapers. A quick walk through Downtown and the Financial District reveals that some of the most prominent business addresses in the city belong to soaring towers that help to define the city skyline.
- Quality - It's worth mentioning again that the quality of a Class A building is of the nth degree. These buildings receive extensive preventative maintenance to keep them in exceptional shape from one year to the next.
- Infrastructure - A Class A office building will boast thoroughly modern, exceptional-quality infrastructure. Everything from its major systems to its elevators and stairs will be the very best. Routine maintenance is par for the course, so everything continues to operate at peak efficiency. This means that tenants typically enjoy significant savings for things like heating and cooling.
- Location - To be classified as Class A, an office building has be in a prime location. The location should not only be desirable in terms of centrality, but it should also be desirable in terms of the prestige that is association with it. In Boston, such areas include the Financial District, Back Bay and, increasingly, the Seaport District.
- Management - Unlike many Class B buildings and most Class C buildings, Class A offices are professionally managed by well-reputed property management companies and the like. As a result, tenants can rest assured of exceptional service and on the continual upkeep of the property.
- Construction and Finishings - The quality of the craftsmanship that goes into Class A buildings is readily evident. These aren't buildings where you'll find cheap materials or construction in which corners were clearly cut. For this reason, these buildings tend to stand the test of time far better than others.
Where to Find
Class A office space is readily available in many parts of Boston. Of course, the best of the best can be found smack dab in the heart of downtown. Some of the city's best-known office towers are also found in the Financial District, the Seaport District and in many surrounding neighborhoods. Several are found in Back Bay, but they are mostly mid-rises as opposed to high-rises. Still, their quality is every bit as good as that of the taller buildings that dominate the skyline downtown.
It should come as no surprise that you're going to pay top dollar for premium Class A office space in the heart of Boston's business district. In fact, you are going to pay a premium for this type of office space pretty much wherever it's found in the city. Citywide, the average rent per square foot for Class A space is around $27. However, for premium Class A space in particularly desirable areas, the average is closer to $55 per square foot--and many expect that that figure will continue to climb in the years to come. It should also be noted that due to high demand for Class A space in the city, perks like tenant concessions are rare.
There has been a veritable building boom of late around the city, and that's especially true regarding Class A office space. In December 2015, four new Class A buildings were being constructed in Boston: 140 Northern Avenue, 100 Northern Avenue, 888 Boylston Avenue and 121 Seaport Boulevard. That is just a snapshot of one month in the last handful of years. Every month since has seen some kind of new construction activity, and it seems like new deals for swanky office buildings are being made all the time.
Low Vacancy Rates for Class A in Boston
Even under ideal circumstances, locating the right Class A office space in a competitive commercial real estate market like Boston's is a tall order. That is truer still these days, as vacancy rates have dropped to some of the lowest figures in recent memory. During the fourth quarter of 2015, the vacancy rate for Class A space in the city was just 8 percent. That is incredible considering that this is the most desirable yet most expensive office space that is available. Typically, vacancy rates for such space are quite a bit higher. This is why it's so crucial to have the right help, and Boston City Properties is here to provide it.
How Boston City Properties Can Help
It's easy and natural to feel overwhelmed when looking for Class A office space for your Boston business. Fortunately, you don't have to go it alone. Boston City Properties is happy to give you free, immediate access to our continually updated online database of MA real estate listings. This database includes up-to-the-minute listings for premium office space in some of the most prestigious office buildings in Boston.
Sign up on our site to get access to our searchable listings. From there, you can use our convenient search tool to zero in on space that suits the needs of your business. For example, you can select the specific Boston neighborhoods where you would like to focus your search. You can also adjust search filters for things like price range and total square footage to get the most useful results possible. In a flash, you'll have a list of options to consider, and you'll be well on your way to finding the perfect office space.
Don't let the perfect Class A office space in Boston get away from you. Sign up this instant to get instant, free, unlimited access to Boston City Properties' constantly updated database of searchable Massachusetts real estate listings. Later, when you're ready to take a look at some of the options on your list, let us know. We'll connect you with an experienced local commercial real estate agent who can answer questions, take you on tours, assist in negotiations and otherwise guide you through the process. With our help, finding ideal space for your office in the city is quick and easy, so contact us today!