Haverhill, MA Retail Space

Haverhill is a historic city in Massachusetts with 60,000 residents. It is located about 35 miles away from Boston, which makes it a destination for commuters. This accessibility, combined with year-round tourist traffic from people coming to see its attractions, brings considerable business to retailers. The city was once a predominantly agricultural area, but it shifted to an industrial-oriented economy during the 1800s. Today, the town is experiencing revitalization as buildings that once housed industrial activities are being transformed for modern use. In addition to providing space that companies need, these buildings are also selling and renting at reasonable costs. The draw of good prices, suitable space, and a large consumer base is attracting more businesses than ever in 2018. With space still available, companies can choose to lease or buy in many locations, ranging from the more highly developed downtown area, which caters to small shops and boutique retailers, to malls and shopping centers further outside of town.

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There are multiple neighborhoods in Haverhill, and each has a distinct personality. Rocks Village is one of the most popular residential neighborhoods in the city. It has some of the highest demand among the town's neighborhoods for property. Interstate 495 and Route 110 pass through Rocks Village, which is a bonus for businesses who need access to transportation routes to ship goods. The second neighborhood is Ayers Village, which lies on the western side of the city. Ayers Village has a mix of residential buildings and commercial infrastructure. The village of Rosemont lies to the east of Ayers Village, and it is also a hybrid residential and commercial zone. Ward Hill is the southernmost neighborhood. It lies right next to Zion Hill, which is a popular place for recreational activities, including skiing, as it has the town's sole ski center.

Between the city's growing population and its revitalization, 2018 is a prime time for businesses to lease space. Prices for leasing are still quite low compared to Boston, which is a major draw for businesses who want to establish in the Greater Boston area but who can't afford property in the city. Another advantage of leasing is that consumer shopping trends are rapidly changing in the Boston metro area, which makes leasing an ideal option for businesses to determine what they might need in the future in terms of size, space, and amenities. Leasing gives them a chance to a spot first to see if it meets their needs before buying property. Some leasing arrangements also permit companies to sublet space, which is even more appealing, as it can easily bring in extra revenue. Currently, the average lease price is about $12.00/SF each year. For a spot in a prominent location, such as the downtown financial district, it's not uncommon to find prices that are closer to $30 per SF each year. Still, this is lower than the $50/SF/YR average in Boston.

For other businesses, especially those that are larger and have more financial capital, buying property is the way to go. This is especially true in 2018, as predictions call for property values and to rise in the foreseeable future. Small businesses with good credit scores and who expect to own at least 51% of the building, are finding it easy to get SBA loans, which makes buying advantageous. Available space is also expected to dwindle in the coming years as more companies grab remaining property. Another reason to buy in 2018 is that it's still possible to get land. Land gives business owners a build-to-suit opportunity, which enables growth and easy product distribution. Prices for buildings and land varies. A building in a less prominent location costs about $750,000, while one in a prime shopping center or close to big box stores might go for a price up to $2.5 million or more.

Regardless of whether you're looking to sell or rent property, now is the perfect time to contact our staff for assistance. Our staff is experienced with all aspects of commercial properties, and we can help you every step of the way as you embark on the process of selling or leasing your property. From advertising in the right places to ensuring your property can pass inspection, we will help you show your property in the best light for a fast and efficient sale or lease that makes you and your clients happy.

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