Boston Class C Office Space
When it comes to Boston office space, finding something that is truly a bargain is incredibly difficult. As a result, small companies and startups sometimes struggle to get the kind of space that they need for their businesses. In most markets, Class C office space fills this need well. While this type of office space tends to far fall below Class A and even Class B in terms of quality, it is undeniably affordable. For companies that are just starting out or that don't bring in clients or customers, Class C is perfectly acceptable and can be a great way to reduce overhead and improve profitability.
What is Class C Office Space?
If you're looking for affordable Class C office space in Boston, Boston City Properties is here to help. First, it helps to understand what this type of classification entails. It is the poorest quality space available, but that doesn't mean that it's not worth considering under certain circumstances.
Some of the most common characteristics of Class C office space include:
- Age - Overwhelmingly, Class C buildings are older. Most of the time, they were built more than 20 years ago. While this is often acceptable in Class B and even Class A, those types of properties tend to get exceptional upkeep, and they are continually modernized and retrofitted to keep them up to par. Class C, on the other hand, tends to be aged and not as well maintained. In other words, the age shows.
- Height - Some Class C buildings are mid-rises, but most of them are just one- or two-story affairs.
- Quality - Unfortunately, the quality of many Class C buildings isn't very good. In fact, such buildings are often in need of major repairs and renovations. Oftentimes, they lag far behind modern standards, and this is often plainly evident just by looking at them.
- Infrastructure - The infrastructure of these types of buildings tends to be very outdated and not very well maintained. If there are elevators, they don't work well. Lighting fixtures and outlets may be unreliable. Heating and cooling systems are aged and not very efficient, so utility bills tend to be pricey.
- Location - Not surprisingly, Class C office buildings are overwhelmingly located in the least desirable areas. This is definitely true in Boston, where nicer buildings have no trouble attracting tenants. Therefore, if you're looking for Class C in places like the Financial District, you should think again.
- Management - As you have probably already guessed, Class C properties don't tend to be very well managed. Many times, they are owned by individuals who don't have actual management experience. It is often difficult to get assistance, and requests for repairs and the like are often put on the back burner.
- Construction and Finishings - The best thing that can be said about the construction and finishings of a Class C building is that they are "functional." They are typically not what you would call aesthetically pleasing. In fact, it's not unusual to see things that are in blatant need of repair or remodeling.
Where to Find
It's easier to explain where you won't find Class C office space in Boston than where you will find it. You absolutely won't find this type of office space downtown. It's not available in places like Back Bay, Financial District or the Seaport District. Even in neighborhoods like Dorchester and South Boston, it tends to be located well off of the beaten path. Many times, it's even located in areas that may have high crime rates and other issues, so it's crucial to get accurate advice. You can get that and much more from Boston City Properties, so be sure to stick with us throughout your search.
Since it's the poorest quality office space available, Class C tends to be the cheapest. Most recently, the average price per square foot hovered around $17. In many areas, however, it is even lower than that. Rents do tend to be pretty affordable as a general rule, but if such buildings are located in even remotely convenient areas, they can command surprisingly high rents. This is another example of why it is so crucial to arm yourself with timely and accurate information while searching for Class C office space. Boston City Properties is here to provide it, so be sure to avail yourself of the resources that we provide.
As a rule, there is no such thing as "new construction" of Class C buildings. These buildings are all at least a few decades old. However, as with other types of buildings, they may have once been Class B or even Class A and have fallen to Class C through the years. Thanks to the nonstop construction that's been happening around Boston, however, there is no opportunity for buildings in the central business district to age to that point. This is another reason why you don't find Class C properties in the heart of the city.
Class C offices have the highest vacancy rates in the city. That is small consolation to most companies, however, as most do not want to set up shop in them. In fact, most companies that start out in such offices tend to upgrade at some point into Class B. Of course, some companies can operate and be successful in Class C offices, so it all depends on the nature of the business and on other factors. These days, vacancy rates for these lower quality offices tend to be around 15 percent, so it's fairly easy to find space in buildings of this quality.
Is it Worth It?
By this point, you may be wondering if renting Class C office space even makes sense. It certainly does if you literally can't afford Class B rents, which is understandable for many businesses. It also does if you simply don't need "nice" surroundings for your line of work. If you operate a small company with a few employees, and you never really have customers in, there's no reason to waste money on anything nicer. If you really need to improve your bottom line and keep costs as low as possible, Class C could be the way to go.
How Boston City Properties Can Help
Although it's not quite as difficult to find suitable Class C space as it is to find Class B or A, it's still a challenge in a bustling place like Boston. Many times, this type of office space hits the market and is leased again quickly. That's especially true for Class C buildings that were previously Class B or that otherwise are on the higher end of the scale. With all of this in mind, it is essential to have access to up-to-the-second availability information. Boston City Properties can provide it.
We operate one of the most comprehensive online databases of searchable MA real estate listings around. Our database includes constantly updated listings for Class C office space for lease around the city. The best part is that it's free. Just sign up on our site, and you can immediately search our listings on an unlimited bases. Our search filters let you quickly zero in on office space that suits your budget and other requirements. Before you know it, you will have a list of Class C offices to check out in your desired neighborhoods.
After zeroing in on promising office space using our search tool, contact Boston City Properties to be put in touch with an experienced local commercial real estate agent. They can get more information for you about the properties on your list, arrange tours of offices and even assist you during negotiations. With expert help by your side, you'll have an easier time navigating the often complicated process of leasing commercial real estate. As always, the team at Boston City Properties is here to answer any questions that you may have and to otherwise assist you. We are here to help, so give us a call today.