Appraisal of Office Buildings

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  • April 23, 2013

Roots of the office building reach deep into the ancient times.  Any reference to office buildings first appeared in the form of chambers set aside for recordkeeping in palaces of the earliest kings.  Much later, during the Italian renaissance, freestanding dedicated office buildings began to take shape in the great Italian banking houses.  But it wasn’t until the burst of technology innovation in the late 19th century that it reached new heights, and the office building would assume its modern form.

To understand office buildings, it is necessary to recognize the fundamental aspects of the varied building types, including:

  • Location
  • Size and height
  • Class
  • Configuration
  • Building services and equipment
  • Building cost
  • Age
  • Origin
  • Use and ownership
  • Markets

Types of ownership of office buildings tend to include: ownership of land and improvements, leasehold estates, and condominium ownership.  The different types of owning entities of the individual ownership include tenancy, partnerships, corporations, and trusts. 

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