Commercial buildings and what classes and stars mean

Office Star Rating Definitions RATING GROUP DEFINITION «« ««« A 5-Star office building is exemplary of a state-of-the-art, category defining structure that represents the latest trends and quality in design and construction, prominent in its context or of a landmark status, and very likely a certified sustainable and energy efficient building. Buildings rated to exhibit the nation’s current set of highest quality structures and form the benchmark of current excellence in office buildings. Architectural Design Exterior Materials/ Façade High-quality durable materials – natural stone, glass, well detailed metal panels; accentuating lighting. Lobby/ Common Areas Double height or atrium lobby with top quality finishes/materials and artwork, clear and intuitive layout for visitors, comfortable waiting area, accentuating lighting, high level of finish in other common areas and elevator cabs/lobbies. Fenestration/ Glazing/ Views Full height glass, corner windows, abundant natural day lighting, generally available exterior views, high ratio of glazed to opaque exterior walls, highly efficient glazing specifications. Overall Aesthetics Positively differentiated from background buildings yet contextually appropriate. Representing current trends and standards in design and/or of a timeless, perhaps a historic quality. Aesthetically exceptional arrangement of forms, massing and materials. Likely designed by a notable or signature architect. CoStar Building Rating System COSTAR BUILDING RATING SYSTEM 5 RATING GROUP DEFINITION Access Clearly articulated entrance identified with an architectural feature; truck and service entrance distanced from main entrance. Structure/Systems High ceiling heights/slab-to-slab dimensions, efficient and virtually column free floor plans; modern energy-efficient HVAC, digitally controlled building automation systems, individual control/VAV units, efficient elevators with continuous shafts serving parking levels and upper floors, dedicated freight elevator. These buildings are likely to be constructed recently or undergone a significant renovation. Amenities/ Management Concierge, on-site management, fitness center, services (dry cleaning, shoe repair, etc.), security with streamlined ID and badging process, on-site conference facilities, bicycle storage, shower facilities, and other highly demanded amenities. Site/Landscaping/ Exterior Spaces Continually maintained landscaping where applicable; exterior gathering spaces, roof terrace or courtyard. Certifications Very likely a certified/labeled green and energy efficient building. At a minimum level, a 5-Star building typically includes the following: exterior materials listed above, a glazing ratio of approximately 75%, 12’ slab-to-slab dimension, a column free floor plan, a regular floor plate shape, and multiple desired amenities. «««« A very high quality building that maintains market leadership through the strength of its initial construction, continual above average maintenance and desirability for tenants and investors over time, These buildings are likely to be older than the current 5 Star set. Architectural Design Exterior Materials/ Façade High-quality durable materials – likely similar to 5 Star type yet possibly exhibiting signs of age and wear. Lobby/Common Areas Large lobby with clear circulation, above average finishes, comfortable waiting area. Fenestration/ Glazing/Views Full height glass or ribbon windows/large punched windows, great natural day lighting and views. Overall Aesthetics Positively differentiated from background buildings yet contextually appropriate. Representing recent trends and standards in design and/or of a timeless, perhaps a historic quality. Access Clearly articulated entrance identified with an architectural feature, truck and service entrance distanced from main entrance. Structure/Systems Likely to have some 5 Star qualities, or of a prior generation of buildings. Amenities/ Management Likely to have some 5 Star qualities, possibly without service oriented amenities. Site/Landscaping/ Exterior Spaces Well maintained landscaping where applicable; likely to have exterior gathering spaces, a roof terrace or courtyard. Certifications Likely a certified/labeled green and energy efficient building. ««« Architectural Design Exterior Materials/ Façade Brick, stucco, EIFS, precast concrete, or possibly higher rated materials with signs of age and wear. Lobby/ Common Areas Modest lobby size and finish, clear lobby layout for visitors. Fenestration/ Glazing/Views Punched or ribbon windows, fair mix of glazed and opaque surfaces that provides adequate natural light. Overall Aesthetics Average with respect to background buildings, contextually appropriate. Access Undifferentiated but obvious main entrance. Structure/Systems Minimal ceiling height, smaller, less flexible floor plate, likely older and renovated. Amenities/ Management Some standard amenities. Site/Landscaping/ Exterior Spaces Modest landscaping and likely small or no exterior spaces. CoStar Building Rating System COSTAR BUILDING RATING SYSTEM 6 RATING GROUP DEFINITION Certifications Possibly a certified/labeled green and energy efficient building. «« Architectural Design Exterior Materials/ Façade Brick, stucco, EIFS, precast concrete, with noticeable aging. Lobby/Common Areas Minimal or no lobby. Fenestration/ Glazing/Views Small, seemingly inadequate windows. Overall Aesthetics Average, functional. Access Unarticulated entrance. Structure/Systems Purely Functional. Amenities/ Management Likely none. Site/Landscaping/ Exterior Spaces Minimal or no landscaping, no exterior spaces. Certifications Unlikely a certified/labeled green and energy efficient building. « Practically uncompetitive with respect to the needs of a typical office tenants, may require significant renovation, possibly functionally obsolete. The building may have been originally constructed for non-office use.