Holden, MA Retail Space
Holden is a picturesque town in Worcester County, MA with 18,800 people. Like many towns around Boston, the population size is steadily increasing. The population expansion, combined with a healthy economy, makes the town appealing to businesses, too. Holden's economic past, like many towns in the area, originated in manufacturing and industry. Its historically strong economy drew businesses and residents, and its composition today still balances both. The town's commercially developed corridors, which emerged with construction of prominent roadways, adds to its appeal for businesses, including retailers, as commercial shopping centers are vital for supplying residents with their needs.
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There are four neighborhoods here, which are the downtown area, Shrewsbury St., Dawson, and Quinapoxet. Of the four neighborhoods, Dawson and Quinapoxet are the largest. Quinapoxet is on the northern part of town. Its eastern side contains I-190, which is a major thoroughfare. I-190 is a major appeal for business owners who want to be located close to a busy roadway where they can easily transport goods. The northern side of the neighborhood is more rural, with a landscaped dominated by preserved open space and large ponds. Dawson, the southernmost neighborhood, is less developed than Quinapoxet. It has one main commercial area of development, which is Route 31. Route 31 is an attractive place for larger retailers, as it has shopping centers and malls with anchor tenants and box stores. In addition to generating traffic for other retailers, having box stores in the vicinity makes investors more willing to finance other companies. The smallest neighborhood is Shrewsbury St. Shrewsbury St. is adjacent to the town center. The town center has a number of small shops, along with professional services and entertainment venues. The town center is appealing to small retailers that rely on foot traffic for business, such as restaurants, cafes, and clothing stores.
Businesses moving to the area can choose to lease or buy. Leasing is a popular option for many businesses, as it requires less financial and time commitments than buying. Leasing terms vary, but in general companies can expect to sign leases that range from one to five years. Lease prices vary, too. Some landlords may offer flexible use arrangements, such as letting tenants pay for utilities only on days that they're physically in the building. Landlords might also be willing to let tenants sublease unused space out to earn extra income. As of 2018, the average rate for leasing a building is $19/SF/YR.
Buying is the second option. For businesses with sufficient financial capital, a high credit score, and who plan to stay in a single space for at least five years, buying often makes the most sense. There are several reasons why companies might consider buying instead of renting. For one, buying locks in a fixed cost. This is especially important at present, as the locally strong market and Boston's strengthening economy are driving property values upwards. Purchasing property also gives business owners more freedom and flexibility to use the space as they wish. As owners, they are free to make alterations, renovations, and additions. Building owners can also choose to lease out space in their buildings to other tenants for supplemental income. Dividing space is a popular trend, as there is little new construction in the region and it makes buying more affordable for more companies.
Our staff provides expert advise for prospective tenants and owners looking to move into the area, but we are also knowledgeable about selling property, too. If you are looking to lease or sell your space in the near future, contact our office for assistance. We are ready to lend a helping hand with all aspects of selling, starting with creating the initial advertisement to getting your property ready for inspection and making the final closing sale. With an intimate knowledge of the current market, we can help you figure out if it's in your best interest to sell or lease property. We will also let you know what a fair asking price is for your property and what you can expect to earn from a sale.
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