NAICS Code 531120-04 - Office Buildings & Parks

Marketing Level - NAICS 8-Digit

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NAICS CODE 531120-04
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Looking for more companies? See NAICS 531120 - Lessors of Nonresidential Buildings (except Miniwarehouses) - 13,498 companies, 30,658 emails.

NAICS Code 531120-04 Description (8-Digit)

The Office Buildings & Parks industry involves the leasing and management of nonresidential buildings that are primarily used for office space. These buildings can range from small office buildings to large office parks that house multiple businesses. The industry also includes the management of common areas such as lobbies, elevators, and parking lots.

Parent Code - Official US Census

Official 6‑digit NAICS codes serve as the parent classification used for government registrations and documentation. The marketing-level 8‑digit codes act as child extensions of these official classifications, providing refined segmentation for more precise targeting and detailed niche insights. Related industries are listed under the parent code, offering a broader context of the industry environment. For further details on the official classification for this industry, please visit the U.S. Census Bureau NAICS Code 531120 page

Tools

Tools commonly used in the Office Buildings & Parks industry for day-to-day tasks and operations.

  • Property management software
  • Building automation systems
  • Security systems
  • HVAC systems
  • Energy management systems
  • Cleaning equipment and supplies
  • Maintenance tools and equipment
  • Fire safety equipment
  • Lighting systems
  • Communication systems

Industry Examples of Office Buildings & Parks

Common products and services typical of NAICS Code 531120-04, illustrating the main business activities and contributions to the market.

  • Business centers
  • Corporate headquarters
  • Office parks
  • Professional office buildings
  • Shared office spaces
  • Technology parks
  • Virtual office spaces
  • Executive office suites
  • Medical office buildings
  • Research and development parks

History

A concise historical narrative of NAICS Code 531120-04 covering global milestones and recent developments within the United States.

  • The "Office Buildings & Parks" industry has a long history dating back to the early 20th century when the first skyscrapers were built in the United States. The construction of the Empire State Building in 1931 marked a significant milestone in the industry, as it was the tallest building in the world at the time. In the 1960s and 1970s, the industry experienced a boom as more and more companies moved into office buildings, and the demand for office space increased. The development of new technologies, such as air conditioning and elevators, also contributed to the growth of the industry. In recent years, the industry has faced challenges due to the rise of remote work and the COVID-19 pandemic, which has led to a decrease in demand for office space. In the United States, the "Office Buildings & Parks" industry has a more recent history, with significant growth occurring in the 1980s and 1990s. During this time, the industry saw the development of large office parks and the construction of many new office buildings. The industry continued to grow in the early 2000s, but the 2008 financial crisis had a significant impact on the industry, leading to a decrease in demand for office space. In recent years, the industry has faced challenges due to the rise of co-working spaces and the increasing popularity of remote work. Despite these challenges, the industry remains an essential part of the US economy, providing office space for businesses of all sizes.