Braintree MA Retail Space

If you’re looking for up-to-the-second information about retail space for sale and for lease in Braintree, MA, you’ve come to the right place. On this page, you can learn the basics about this local commercial real estate market to make more informed business and investment decisions. You can also sign up on this page for access to Boston City Properties’ online database of continually updated MA real estate listings. It includes up-to-the-second listings for retail space in this city, the South Shore, greater Boston and communities across the state, so it’s a valuable tool to have in your arsenal.

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Retail Space

Market Overview

At Boston City Properties, our goal is to provide useful resources to people who are searching for commercial properties for their businesses or for investment purposes. As part of that, we continually monitor commercial real estate submarkets to ensure that our clients are as informed as possible. Situated in the South Shore region south of metro Boston, this town’s submarkets are largely intertwined with and indistinguishable from those of its larger, more densely populated neighbors.

Get your bearings regarding this town’s local market with these key insights:

• Economy – Nothing affects commercial real estate submarkets more dramatically that the state of the local economy. In metro Boston, including this city, the news has been overwhelmingly positive in this regard over the last several years. From 2014 to 2015, for example, the economy grew by a rate of 3.6 percent. During that same period, the economy experienced a job growth rate of 2.7 percent. As of September 2017, the unemployment rate in the region was just 3.4 percent. All of this spells good news for the commercial real estate submarket of this town—that is, if the town can manage to accommodate all of that potential growth.
• Vacancy rates – Vacancy rates for commercial properties throughout greater Boston, including the South Shore, continue to tighten. Core areas of Boston have been largely picked over for some time, but the phenomenon is spreading closer to places like this Norfolk County town. From the fourth quarter of 2015 to the fourth quarter of 2016, local vacancy rates fell from 8.9 percent to 7.5 percent; this trend continues into 2018, so investors and business owners alike will struggle to secure commercial properties for the foreseeable future.
• Absorption rates – Absorption rates for this local submarket largely mirror those of greater Boston in general. Put simply, new construction is not really keeping up with ongoing, steadily increasing demand. This poses serious problems for this particular town as it could benefit enormously from having more commercial real estate but may not have the ability to provide it in time.

What to Expect

What can you expect to find when it comes to commercial real estate options in this bustling South Shore town? With a population of more than 35,000 at the time of the 2010 U.S. Census, this town is large enough to have a fairly diverse array of offerings. Because it is located far enough from downtown Boston, however, its offerings tend to be found more in standalone malls as opposed to downtown main street districts.

You are most likely to find a suitable property for a retail business in this town in a handful of its most popular commercial corridors. Without question, the primary commercial hub of this community is over at the intersection of Route 37 and Interstate 93. There, you can take your pick from many different property types, including ones that are suitable for shops, restaurants, hotels and more. Whatever you need—whether it’s for your business or for investment purposes—you are likely to find it in this part of town.

This town is large enough to support more than one commercial district. Another great example is found over along Forbes Road, which is quickly blossoming into one of the area’s most important shopping districts. South Shore Plaza is another area where you can choose from a variety of options. It received a major overhaul in the last few years, so it is a good area to look for excellent commercial real estate.

Commercial Real Estate Prices

Before getting serious about finding a location for your business in this bustling town, it helps to have a basic understanding of current prices. Of course, the amount that you pay will vary according to a number of factors; we will dig more deeply into those later. Lately, the prevailing average rate for commercial space that’s suitable for shops and the like has hovered around $32.56 per square foot. However, this rate reflects the average price for properties across all of greater Boston, including its ultra-pricey downtown core areas.

To put this into better perspective, let’s consider the current advertised lease prices for a properties that are currently available for rent. A property that offers around 1,700 square feet in a strip mall building is currently being advertised for lease for around $2.92 per square foot per month. That sounds a lot cheaper than the prices mentioned above, but that’s most likely because the rates are being quoted without including utilities and other costs.

As for buying commercial real estate in this town, you are in for a very uphill battle. A quick search of Boston City Properties’ listings should reveal that such properties just aren’t typically put up for sale in this part of the state. However, if you are able to find a property that suits your needs for sale, you can expect to pay quite a bit less than you would up in Boston. In fact, that is one compelling argument for moving a business away from the city; the question, however, is whether your business can afford to be away from downtown core areas.

Factors Affecting Lease Prices

Many factors come into play to affect commercial real estate lease rates. This is just as true in this town’s submarket as it is elsewhere in the state and country. Without a doubt, one of the biggest of those factors is the type of lease that is attached to the property.

If you have never leased commercial properties before, here’s a quick primer on how lease types affect prices. Knowing these distinctions makes it easier to compare and contrast prices. The simplest type of lease is what’s known as a gross lease. In this case, the landlord covers all expenses, including maintenance, insurance and taxes; the tenant, in turn, pays a flat rate. A single-net lease is one in which the tenant must cover a share of the property taxes, but the landlord covers everything else. With a double-net lease, the tenant covers a share of the taxes and property insurance, and the landlord takes care of the maintenance costs. Finally, a triple-net lease, or NNN lease, is one in which the tenant is responsible for rent along with percentages of property taxes, insurance costs and maintenance costs. Most properties in this town are quoted in triple-net lease terms.

Additional factors affecting the price of commercial lease rates include:

• Location – The more centrally a property is located in terms of overall exposure, the more expensive it is likely to be. In shopping districts, properties that are right in the center tend to draw higher rents. Similarly, properties that are close to foot-traffic generators like mass transit stops and anchor stores tend to fetch higher prices.
• Lease length – The length of the lease that you sign typically affects the rate that you pay to lease this type of property. Most of the time, landlords charge less for longer-term leases; however, there are exceptions. Month-to-month leases tend to be the most expensive, but they are also exceedingly rare. Landlords are sometimes willing to negotiate down to more reasonable prices in exchange for locking in to longer terms.
• Building age and condition – Not surprisingly, the newer and nicer a property is, the more that you are likely to have to cough up for monthly rent. You may be able to save some money by opting for an older, less pristine building, but you are likely to end up spending quite a lot yourself keeping it up to par. Further, business is more likely to boom when you display your wares in a pleasant location rather than one that’s falling apart.
• Size – In densely packed urban areas like downtown Boston, you actually tend to pay more for smaller places than for larger ones. That is mostly because smaller properties are more widely available in such places. Across metro Boston, for example, most commercial properties clock in at less than 2,000 square feet. Further afield in places like this town, however, size doesn’t tend to affect price per square foot quite as much—and it tends to be much easier to find larger properties for lease and for sale.

Commercial Real Estate News

If you are on the fence about buying or leasing a location or your business or for investment purposes in this town, catching up with current developments in the commercial real estate market could help you to make a decision more quickly. Over in nearby Boston, of course, it seems like new construction projects and other developments occur at a rapid clip. Things are pretty busy in this South Shore town too, though, and you may be surprised by how much is happening there these days.

Some especially notable developments in Braintree’s commercial real estate market lately include:

• Forbes Road development – Situated across from the bustling South Shore Plaza, Forbes Road is rapidly turning into one of the town’s newest and most important commercial hubs. Over the last few years, developers have been busy tearing out old industrial buildings to make way for new projects. For example, the ramshackle old Sheraton hotel was demolished, and a $30 million Residence Inn by Marriott opened its doors in August 2017.
• Landing 53 – Construction began on this ambitious mixed-use development in April 2016. The $50 million project will add 172 new apartments to the town, which are sorely needed. It also includes 11,000 square feet of square footage for shops, restaurants and the like. Sprawled across around 2 acres, Landing 53 is situated near the intersection of Quincy Avenue and Commercial Street, and it is already shifting the landscape of commercial real estate in this town.
• Logan Express Terminal – Buzz continues about the possibly imminent redevelopment of this 18-acre parcel of land, which most recently was home to a drive-in movie theater. Currently owned by the Massachusetts Port Authority, numerous developers have been expressing interest in tackling a redevelopment project here. One way or another, this part of the town is sure to be transformed before very long—and this will open up new possibilities for commercial properties for businesses spanning many industries.
• Weymouth Landing – This new mixed-use development is good news for this town because it adds nearly 90 new apartment homes to the market. Better still, the four-story development includes around 1,700 square feet of street-level commercial real estate that is perfect for shops, bars, restaurants and the like. Located as it is at the border of this town and neighboring Weymouth, it also attracts shoppers from both communities and beyond. That is great news for businesses that rely on foot traffic.
• Primark – If you keep up at all with happenings around this town, you already know about the excitement that has been generated by the addition of this Irish retailer. This location was the third to open in the state, and it has already proven to be a huge success. The store sprawls over more than 41,000 square feet, and it includes 23 registers and 37 fitting rooms. A very prominent anchor store, Primark is already bringing new demographics of shoppers to this part of town. This is great news for other local businesses that are certain to benefit from the added traffic.

How Boston City Properties Can Help

People often assume that finding suitable commercial real estate in this town will be far easier than finding similar options in Boston. While that is true to a certain extent, the fact is that this market is intricately tied to the city’s, and the local submarket tends to follow the larger market’s lead. What this means is that finding the right property is still immensely challenging—especially if you don’t have any real experience in that department.

Boston City Properties is here to help! A few of the ways in which we can support you during your search include:

• Commercial real estate listings – Our huge online database of MA real estate listings isn’t limited to listings for residential properties. You can just as easily search listings for commercial properties for sale and for lease. Get immediate, free access to these continually updated listings by completing and submitting the simple signup form. With accurate and timely info at your fingertips, you’ll find something perfect in no time.
• Powerful search tool – At this very moment, there could be dozens of listings for commercial properties for lease and for sale in this town. Only some of them will have the characteristics that you need, and you can pinpoint them with ease through our convenient search tool. Select this town from the list to limit your search there, and then use filters for things like price and square footage to refine things further. It’s fast, easy and undoubtedly the best way to check current availability.
• Resources – Throughout our website, you will find articles and other resources that provide useful, actionable information about buying and leasing commercial real estate in Boston and across the state. Whether you are a business owning seeking a location for your company or an investor looking for income-generating opportunities, you can gain all kinds of useful insights by simply perusing Boston City Properties’ website.
• Real estate agents - Boston City Properties has connections with skilled and experienced commercial real estate agents across greater Boston and beyond. When you are ready, we can refer you to a commercial real estate expert who possesses extensive, direct knowledge of this town’s commercial submarkets. This professional can arrange tours of properties that you have zeroed in on through our search tool. When the time comes, they can assist you with negotiating the best deal possible and remain by your side through closing or lease signing. With their help, this entire process is sure to unfold more smoothly and easily.

Don’t put yourself through the wringer when looking for commercial real estate in Braintree. When it comes to securing the right kind of square footage for a business here, knowledge is everything. Do yourself a favor, then, and sign up right now for free access to Boston City Properties’ real estate listings. Avail yourself of our powerful search tool to pinpoint properties in this town that suit your budget and other needs. Later, contact us to get a referral to a local commercial real estate expert. Before you know it, you will be setting up shop in your new location. For more information, contact Boston City Properties.

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Retail Space