Er, What's Grade A Office Space?

Source : The Straits Times, Nov 2, 2008

Where do you see this?

In media and analyst reports on office property, as well as advertisements for office space.

What does it mean?

Grade A refers to the most prized category of office space.

There is no definition set in stone, but the term is generally used to describe offices found in prime, well-maintained buildings that have large, column-free floor plates and high ceilings.

Why is it important?

Grade A offices are the most sought-after in any country in the world, particularly in space-hungry financial hubs such as Singapore.

Rents and prices of Grade A space in the Republic have skyrocketed in the past two years because of a supply shortage and soaring demand from firms that have expanded aggressively here.

However, the global financial crisis has tempered this rise in values and even caused values to drop in some areas. Nevertheless, demand for Grade A offices remains solid, especially with companies that need to maintain a certain image and address.

So you want to use the term. Just say...

'If commercial rents fall enough, our company might be able to relocate from this rundown building to Grade A offices.'