Office Building Appraisals
Global Valuation has completed numerous office building appraisals during the past 19 years. From a 625,000 SF Class A office tower in Oklahoma to a 14,000 SF condo office building in the Caribbean Region. The Building Owners and Managers Association (BOMA) classifies office space into three categories: Class A, Class B, and Class C. According to BOMA, Class A office buildings have the “most prestigious buildings competing for premier office users with rents above average for the area”. BOMA states that Class A facilities have “high quality standard finishes, state of the art systems, exceptional accessibility and a definite market presence”. BOMA describes Class B office buildings as those that compete “for a wide range of users with rents in the average range for the area”. BOMA states that Class B buildings have “adequate systems” and finishes that “are fair to good for the area”, but that the buildings do not compete with Class A buildings for the same prices. According to BOMA Class C buildings are aimed towards “tenants requiring functional space at rents below the average for the area”.
All Global Valuation Appraisals and Market Studies are prepared by State-Certified Appraisers and designated members of the American Society of Appraisers. Reports are completed in accordance with the Uniform Standards of Professional Appraisal Practice. (USPAP) and or the International Valuation Standards (IVSs).
Reports are prepared using verified market information. Some of our top licensed sources include:
- CoStar – verified market data
- Price Waterhouse Coopers (PWC) Real Estate Investor Survey.
- PKF/CBRE Trends in the Hotel Industry
- Marshall & Swift Cost Data/Core Logic
- Argus DCF Financial Software
- Adobe InDesign
- IBIS World Industry Reports
Examples of Office Building Appraisals & Market Study assignments follow:
624,374 SF Class A office tower, Tulsa, Oklahoma
81,171 SF Class B office tower, Miami, Florida
56,586 SF Class B office building, Duluth, Georgia
CLICK HERE FOR A REPRESENTATIVE LIST OF OFFICE APPRAISAL ASSIGNMENTS