Leasing Or Buying Retail Sites in Bellingham: A Great Idea!

Today this rapidly growing community lies on the far northern outskirts of the large City of Providence, Rhode Island. The area has witnessed extensive development during recent years. Companies seek retail locations here for a variety of reasons:

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Retail Space

First, expansion has placed this town in close proximity to the Interstate 495 beltway, a freeway passing through many populous cities in eastern Massachusetts. Currently some sites here offer access to high roadway traffic volumes, an important source of business for many retail outlets. This community possesses two access routes leading to the highway: Road 140 (also called "Mechanic Street") and Road 126 (also called "Main Street"). Already a major thoroughfare passing through the town's business district to join I-495 three miles to the north, Road 126 also enables south-bound drivers to reach the developing Providence suburb of Woonsocket.

Second, this community sits only five miles southwest of Franklin, a city of well over 30,000 inhabitants. Population increases within the immediate vicinity promise to bring a rising volume of business to the town. This situation bodes well for many retailers.

Some Neighborhoods Here

Following a boom period during the 1960s, this formerly rural community has witnessed gradual growth and the development of several new neighborhoods. Retail businesses still frequently locate within the Town Center Neighborhood along Main Street and Mechanic Street. It supplies a well-developed existing infrastructure.

Recently, suburbs developing beside the interstate have attracted retailer interest. Some large chains have constructed shopping centers proximate to this freeway. The North Bellingham and Happy Hills neighborhoods to the north of town and sites along South Maple Street (a roadway intersecting Mechanic Street on the eastern side of the city), have become popular retail locations. The South Bellingham neighborhood, while heavily residential, has also witnessed some commercial development, especially along portions of South Main Street.

Leasing Bellingham Retail Space

Leasing retail sites frequently enables retailers to conduct business without investing significant capital resources in their premises. While most storefronts do require some expenditures in order to modify sites to fit the unique needs of businesses, companies that rent their locations may avoid some types of recurring costs. For example, depending upon the lease agreement, a landlord may assume responsibility for maintaining building exteriors and parking lots in good condition, and for providing regular landscaping services.

By leasing its facilities, a retailer may in fact acquire the right to conduct its operations in a choice, upscale location it could not afford to purchase outright. The presence of other commercial tenants within the same building or within the immediate vicinity may offer the advantage of drawing additional customer traffic to some locations. Leasing sometimes significantly benefits a retailer's bottom line.

Purchasing Retail Property in This Community

Yet in certain situations, a retailer derives important advantages by choosing to own real estate. For example, a business may prefer to acquire a commercially zoned tract and construct a fully customized building there. Brand new facilities often demand only minimal repair expenditures. With ongoing maintenance, they provide welcoming, clean locations for attracting customers.

Sometimes retailers offset the cost of opening a new site by purchasing realty and selling off smaller unused tracts to other businesses. This strategy may ensure a retailer enjoys proximity to satellite storefronts from the outset. The ability to create an enclave of retail firms sometimes enables companies to share the steep costs associated with erecting prominent signage and maintaining immaculate grounds and parking facilities. Choosing a prime location proves critical to success in this situation.

Listing Retail Space For Lease or Sale

Sellers of retail properties may choose to market them discretely through business contacts, or they may list their realty for sale with a real estate broker and encourage a large public response. In some cases, a seller will even offer a retail location for sale via a realty auction. The model used for promoting the sale of a particular commercial property depends upon the unique business needs of the seller.

Whether you seek to lease or buy retail locations, or to market these types of commercial properties, we hope you'll consider calling upon Boston City Properties as a resource. We offer a full range of real estate services. Our company specializes in this important region of the Commonwealth of Massachusetts. We track local prices and commercial real estate marketing trends carefully in order to help our clients. Ask us to assist you in achieving your goals in this highly competitive real estate retail property marketplace.

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Retail Space