Quote:
Originally Posted by bizaro86
I'm curious the difference between AA and A office space, is there some sort of "official" dividing line in relation to ceiling height/amenities or something? Some of the A buildings I would have thought would be considered top tier.
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Jpold might have a different response as colliers probably has some stats that justify theire classifications but the opinion from my office it all depends on who's doing the classification. CBRE, Colliers, Avison Young, Altus. When writing up proposals for the Bow and Centennial we had appraisers calling them AAA buildings, research departments calling them AA's.
It's also a very relative measure and basically (for us) established from the best building down and taking into account (with a grain of salt) the appraisers comments. The best/most new large office buildings will obviously be AA or even AAA and from that you can compare on a downward scale.
I've seen some appraisers call buildings A that were clearly B buildings and from a financing perpective I'd never submit a proposal to our head office calling Fifth and Fifth, Chevron Plaza, Nexen, Shaw Court, Watermark (might improve as development continues) and some of those A listed buildings as A's. If it's not on the +15 and in the west downtown classification it's pretty much a B for us. But, from a financing perspective you're always on the conservative side - from a broker perspective and apprasier everything is AAAAAA!!!!
Just teasing!