Ashland Office Space

Ashland is a town in Middlesex County with 17,000 residents. It is the western part of the Boston metropolitan region. The town has a long history of industry and development, which was made possible in large part through construction of a railroad in the 1830s that ran through town. Today, the railroad has been replaced with more modern forms of transportation, including bus and commuter rail service. Public transportation is equally important now as it was in the past, as it enables the rapid movement of people and products to and from Boston. The town has access to I-90 and I-495, which are two of the busiest roadways in the Boston area. There are several smaller roadways too, including Route 126, that are key areas for business growth. These roadways have strip malls, shopping centers, professional office complexes, and standalone office buildings.

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There are three neighborhoods in this town, which are the town center, Main St./Chestnut St., and Workman's Circle Camp. The Town Center neighborhood is the most expensive place to live and work. One of the town's bus stations is in this neighborhood, and it also has access to the Mass Pike. The neighborhood's residential population is concentrated closer to the center, while several popular recreational areas, including the Hopkinton State Park, lie along the outside. The Main St. neighborhood, as the name implies, includes the town's Main Street, which is home to small shops, boutique fitness centers, and apartments. This area also has numerous personal service businesses, such as law firms, banks, and dental offices. This neighborhood also contains Ashland State Park. Workman's Circle Camp is the most industrial of the three neighborhoods, as it has been in the past. The neighborhood has direct access to the neighboring town of Framingham. It is also close to several secondary roadways that serve the region, including Route 135 and Route 126.

Companies looking to lease space are jumping on the chance to lease in 2018, as prices are reasonable and properties are still available. In the first quarter of 2018, there was over 8.8 million SF of space available for rent. Direct vacancy rates were at 22%, and total vacancy rates were just over 23%. There is little new development, but companies are finding that they can sufficiently modernize older warehouses and light manufacturing buildings for their own specific uses. Tenant demand is rising in Boston and the surrounding areas, which means that space will only become more scarce as time goes on, and building owners will be able to command higher prices. In this town, an average lease for a building in the Class B to Class A range is $5,000 to $6,000 per month. Rent may include utilities such as heat, hot water, and electricity, but it's also not uncommon for those amenities to carry an additional charge.

While it makes sense for some businesses to lease space, it also makes more sense to buy. The market trend for many established companies in the Greater Boston area in 2018 is to expand their buildings, which in turn allows them to double and sometimes even triple their size. This trend is carrying over to towns and cities outside of Boston, too, especially in the highly developed corridors of I-495, I-93, and other major highways. There is little new construction along these major roadways, but companies are still finding that there is plenty of opportunity to buy at a good price and convert older buildings to places that suit their needs.

2018 is also a good time to sell property. Landlords and building owners are continually raising their rates and asking prices as tenant and occupant demand continues to surge, which creates competition and scarcity. Pricing and advertising your space can be tricky, but our office for assistance in marketing your commercial property, as our qualified staff has plenty of experience in that area of marketing. We can help you list your property in the right places and get it in front of as many eyes as possible. Selling commercial property is different than selling residential property, and it often takes an expert's knowledge to highlight the property's best features, amenities, and selling points. An expert can also help you determine a fair asking price. He or she can advise you on what features a tenant may be looking for, and your agent can also tell you if there are any problems with your building or property that should be fixed. A good agent should have your best interests and those of your client in mind, which ensures a satisfying and smooth sale for both parties.

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