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Office
Office refers to property that is primarily used for commercial office space. The square footage reported refers to the rentable area. Office properties are classified based on their location as either CBD or Suburban.
CBD (Central Business District) is the "downtown" of a city, based on generally accepted classifications adopted in each market. Office properties may have a small retail component (especially in CBDs on the street level), or a parking garage, or other attached uses.
Single-story office properties are classified as Flex. Other subtypes include:
R&D: buildings with specific use for research and development. This may include medical, laboratory and scientific research space. Ultra secure "clean rooms" are typical in R&D buildings.
Medical Office: office space which offers medical services or is occupied by a physician.
Tech/Telecom: high-tech buildings which were built with wiring and necessary power already in place; may include data centers.
Related Terms: >> Flex, Medical Office, Property Types, R&D, Tech/Telecom
Next >> View the "P" Listings in the Commercial Real Estate Glossary
This site and the reports herein represent the most comprehensive data set of investment activity compiled for the commercial real estate industry. While no information in this highly fragmented market is perfect or all encompassing, Real Capital Analytics (RCA) has established rigid data collection and classification methodology including sourcing requirements and procedures to ensure information is accurate and timely.
RCA has attempted to conform wherever possible to the proposed standards and definitions of the Data Consortium (sponsored by NCREIF, PREA, NAREIM) and the Appraisal Institute. Any known deviations from these standards are noted.