Commercial real estate
Real estate is a popular business in most parts of the world and people are always looking out for the best property. The business or organization needs to be in the center of a city or in technology parks, where the business can grow. The commercial real estate is a workspace where in most cases the places are leased to the businesses. The range of a commercial real estate is from a single room to a large shopping mall. Individual spaces are usually rented by small businesses and large shopping complexes are also rented by large businesses. There are different classes in a commercial real estate depending on the functions as follows
- Class A: The Class A category of commercial real estate is a representation of the building and shopping complexes based on infrastructure, location, and age. The investors generally use this class type property for restoration.
- Class B: The class B buildings are not new and not competitive, in a less populated place, and not too expensive. There are some businesses which take up these buildings, restore, and convert it into the best place.
- Class C: This type of buildings or properties is too old, built before 20 years and hence there is no heavy budget or competition.