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Mr. Joel Hanson City of Little Canada Site Selection Criteria for Office Development Office Properties are typically segmented into the following classes: April 26, 1999 Page 3 Class A — investment -grade buildings, generally the most desirable in their markets, offering an excellent location and first -rate design, building systems, amenities and management. Class A buildings command the market's highest rents. Class B — Buildings with good locations, management and construction and little functional ob- solescence or deterioration. Class B space is found generally in well - located buildings of an ear- lier generation that have been maintained to a high standard. They may also be new properties located in suburban locations, but without the design and finishing detail of Class A properties. Class C — Buildings that are substantially older than Class A and B buildings and that have not been modernized. Class C buildings are often functionally obsolete. The following are some of the criteria used to select an appropriate office site: I) Excellent access 2) Medium to high visibility 3) Higher amenity sites with the potential for extensive landscaping 4) Close proximity to their workforce and sufficient parking 5) Close proximity to a concentration of office buildings or location within an industrial or business park Office users seeking space typically use the above criteria when looking for a suitable location. Office users looking for suburban locations typically place more emphasis on amenities of the building and the surrounding area (being in close proximity to restaurants and /or shopping). Floorplate size and flexibility of the space are also important criteria. The sites near the subject property are currently occupied by office /warehouse buildings. These existing uses however, do not constitute a designated office or business park. While office de- velopment is again on the upswing in the Twin Cities, sites under construction are those in high amenity locations (near to the airport, concentrations of other office properties, in business parks or near major entertainment /shopping areas). There is very little development of office space for small users since existing buildings in most markets have sufficient space to accommodate the demand from these users. Office /warehouse and office /showroom space is currently being developed in many suburban lo- cations throughout the Twin Cities and is in highest demand. Both office /warehouse and office Page 12