Acton Office Space

Acton is a town with about 22,000 people. It is 20 miles west of Boston. This town is a historic residential town. It was ranked as the the 11th best place to live among small towns nationwide in 2015 by Money Magazine. Following this burst of fame, a significant number of people moved into the area. The town's business population increased too, as commercial entities sought to move closer to the workforce and supply residents' demands. For this reason, now is a better time than ever for businesses to move in to the area. Demand for consumer products is also high. Acton and other towns around Boston have the added advantage of proximity to some the busiest highways on the East Coast and Boston Logan International Airport.

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There are five distinct neighborhoods in this town, which are: Acton Center, North Acton, East Acton, South Acton, and West Acton. The main center of commercial and retail activity is Acton Center, which contains the town's municipal buildings, parks, and historical sites. This neighborhood also houses a large percentage of the town's population. North Acton is divided between commercial and residential areas. It is along the Route 2A corridor, which has many office and warehouse buildings. It also has a large number of multi-unit homes, including condos and apartments. There are several popular recreational areas in this neighborhood with ponds, trails, and sports fields. East Acton was originally a commercial area, but it began to draw residents when the train station was built. South Acton is primarily industrial. It has most of the town's warehouse, industrial, and manufacturing buildings, and a few old mills, too. Those buildings, which are large and primarily located near major roadways, provide excellent opportunities for business growth in 2018. West Acton is the town's primary commercial center.

With a mix of business space available for lease – including medical space, banks, retail space, restaurant space, and more – there is certainly no shortage of choices for entities looking to move in. Demand is high for both Class A and Class B building space, as is the case in the Greater Boston area. In 2018, it costs an average of $1.17 SF per month to rent a building. However, prices can be as low as $0.83 SF per month, and they can exceed $2.00 SF per month for a building that is in a desirable location and has the latest features. In the first quarter of 2018, there was over 2.6 million SF of space available for sale and lease along Route 2A. Of that amount, there was about 252,000 SF of direct space available and 219,000 SF available for sublease. Prices here are expected to rise in the next year for renters. That fact, combined with the market's strength, makes 2018 a prime time for companies to establish leases and attract investors.

Industry experts are also encouraging businesses to buy space. Purchasing space is recommended for businesses who plan to stay in the area for at least five years, as buying offers opportunities for business growth and expansion. Property values are expected to continue rising in the next few years, which means that businesses who choose to purchase could very well end up with a positive return on investment. For a 10,000 SF building, an average asking price is $1.8 million. This is for a Class A/Class B building with decent visibility and plenty of amenities. Asking price varies based on location, amenities, and building size. Prices will also be higher for buildings that have private parking spaces available for tenants and clients, as parking is increasingly scarce in this town.

For those on the selling side, the business market is equally ripe. The market is considered hot right now by industry experts, which means that now is the time to sell if you're looking to move elsewhere. Fortunately, you can contact our office for assistance, as our staff is knowledgeable about the market and knows how to advertise your property. Selling commercial buildings is different than selling residential property, which means that it helps to have an expert on your side for a successful sale. Commercial buildings need to be marketed in a certain way, and they need to be made visible to as many potential tenants and buyers as possible. An industry expert can help you in many ways, including finding a reasonable asking price based on the market. An expert can highlight the best features of your building and help you attract qualified buyers. An ideal agent to hire is one who is interested in the success and happiness of both you and your buyer. This makes it easier to connect with a serious buyer, which in turn can translate to a faster sale and allows you to sell with confidence.

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