Belmont Office Space

Belmont is a popular town in the Boston metropolitan area. It lies to the western side of the city, and it is home to about 16,170 people. Belmont was established in 1859. It was once dominated by estates and rolling farmland, but it has gradually become more urbanized. Today, the town contains a mix of historic sites and modern amenities. The town's largely agricultural economy shifted to greenhouse operations and later waste management and mining. The town was also once an important stop for the railroad industry, as it had a busy train station that facilitated the movement of people and products. Today, the town has a largely residential character, but it also has areas of commercial activity. Along with the residential neighborhoods, there are three areas of commercial growth, which are Belmont Center, Waverley Square, and Cushing Square.

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As with many New England towns, the heart of this town contains municipal buildings and smaller businesses, many of which are family-owned and have been established for a long time. The downtown district is one of three major commercial areas in town. While the other commercial zones support larger businesses, the town's center traditionally houses smaller businesses, including personal services like hair studios, law firms, and banks. There are also some fitness centers in the downtown area, along with apartments, bars, and restaurants. Cushing Square, which lies to the south, is another commercial zone. Cushing Square is on the border of Watertown, which is another center of economic opportunity in the Greater Boston area. Public transportation reaches Cushing Square, which adds to its appeal for businesses. The southern area of town is primarily urban, with substantial residential development and commercial centers. The harmonious blend of the two makes it an especially desirable place for companies to establish a presence. The third largest commercial area in this town is Waverley Square. Waverley Square is on the western side of town. It contains several parks and recreational areas, which makes it a popular place for outdoors activities. It is also home to one of the town's MBTA bus stations. The town's hospital, called McLean Hospital, is also on the western side of town. Waverley is also an intersection of several prominent routes, including Route 60, which passes through the area and runs to adjacent towns.

For companies looking to move into the area, leasing space can provide great opportunities for growth and development. Leasing space is sometimes preferred over buying, especially for smaller companies with less financial capital, and for those who are not sure if they will be in an area for an extended period of time. Leasing space can also provide more flexibility for tenants, as landlords may be able to negotiate things like utility payments and other monthly expenses. Additionally, renting in a prominent area gives businesses high visibility without breaking the bank. This is especially significant for newer start-up companies that depend heavily on word-of-mouth and visibility of maximum exposure. The added advantage of leasing a space is that rates are generally predictable. In some lease scenarios, such as a month-to-month lease, businesses can also make a quick exit of conditions become less than favorable. Unlike buying, which can result in the loss of income over time if the economy dives, leasing for a shorter period of time lets companies get out before it is too late. As of 2018, it costs on average $30 - $32 SF per year to rent an office building that's in good condition and is located in a place with good visibility.

Alternatively, buying space can sometimes be more practical than leasing space. This is especially true for businesses that know they want to stay in the area for an extended period of time. As with other investments, a real estate purchase can easily translate to a positive ROI if market conditions allow. Fortunately, in 2018, the market in and around Boston is very strong. The economy's unprecedented rate of growth is expected to continue at least through 2019, and most likely beyond, as companies are finding that the combination of good prices, access to major thoroughfares, and consumer demand is just what they need. In the first part of 2018, it costs about $3.2 million to lease a 4,000 SF Class B building on one acre of land. Rates are usually a bit higher for Class A properties, and slightly lower for Class C properties.

2018 is a prime time for sellers looking to lease or sell their properties, as owners can ask for higher selling prices. With rising demand for property and an increasing in investors' willingness to fund projects, it is increasingly more common for sellers to easily trade hands of property ownership, or otherwise raise their rental rates, than it has been in recent history. Demand also continues to rise for property in the Boston metropolitan area, which means that increasing scarcity will only raise asking prices in the future. If you're motivated to sell, just contact our office for assistance, as our friendly and expert staff members are eager to help you out. When a fast sale is on your mind, we'll provide the assistance you need to make it happen.

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