Class B buildings typically have what characteristic compared to Class A buildings?

Class B buildings are recognized for being generally older structures that still maintain good quality management. While they may not offer the same level of luxury, modern amenities, and prime locations that Class A buildings do, they are usually well-kept and serve a stable tenant base.

Class B properties often appeal to a wide range of tenants due to their reasonable balance of quality and cost, making them attractive in various markets. The management of these buildings aims to maintain a level of quality that ensures tenant satisfaction, which is a crucial aspect of property value and attractiveness in comparison to other classifications.

In contrast, properties that fall into other classifications, such as Class A or Class C, vary significantly in terms of age, luxury, maintenance, and location, leading to differing tenant demographics and expectations. For instance, Class A buildings are often newer and positioned in prime locations, whereas Class C buildings could be older and may lack the same level of upkeep. Thus, the characteristic that distinguishes Class B from Class A is its balance of being older yet still well-managed, appealing to a steady tenant base.