I meant in the context of interviewing prospective employees or meeting clients. It wouldn't inspire confidence if you are in an apartment vs an office.
Many people, like me, are well aware of the cost of leasing space. I'm far more positively impressed by a company that compensates its staff well than one that rents top-end space; shows its owners are savvy or too busy to worry about trifles.
If it's a business that caters to dullards (we all have a pretty good idea of what industries employ dullard decision-makers), then that may have less benefit.