Toledo Talk

Office Space Development

Reviewing an article in the Blade tonight regarding available retail space. One of the parts mentioned the lack of needed Class A space. While it is great to see Class A space has a vacancy of only 2.6%, it also means the area doesn't have the room to attract the better paying jobs and quality businesses. The article is quoted alluding to demand is higher for that space, but it simply doesn't exist right now.

Does anyone have any details of any existing projects, or proposed ones, to help improve the Class A space in the area?

Link to the article: http://www.toledoblade.com/Retail/2014/07/26/Retail-vacancies-drop-in-area.html

created by JustaSooner on Jul 26, 2014 at 02:37:39 am     Business     Comments: 5

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Comments ... #

Looking at the definition of Class A space, it makes me wonder what something like the Ohio building downtown would be considered. It's a gorgeous structure that is well maintained and managed. Is that Class A?

posted by upso on Jul 26, 2014 at 12:26:41 pm     #  

Ohio Building is listed as Class B.

Maritime Plaza One, PNC Building, and of course Seagate One are all considered Class A.

posted by JustaSooner on Jul 26, 2014 at 02:23:20 pm     #  

I am sure that there is a whole list of criteria that goes into the class determination. But having worked in both the PNC building and the Ohio Building, I always thought the Ohio Building was nicer.

posted by Ace_Face on Jul 26, 2014 at 03:59:49 pm     #  

Yeah, the Ohio is quite nice but it's not fancy. Interesting!

posted by upso on Jul 26, 2014 at 04:38:43 pm     #  

I think overall Class A is somewhat objective with no hard criteria, but typically it has to be up to date, easily accessible, in a high demand area, and able to pull a premium rate. Based on the low vacancy, it would seem there would be a strong opportunity to get additional Class A space into the market. You also need the available space to really attract anyone new to an area.

posted by JustaSooner on Jul 26, 2014 at 06:03:38 pm     #