Natick, MA Business Space

This town is located in Middlesex County. It had a population of 32,786 in the 2010 U.S. Census. It is one of the fastest growing communities in the Boston metro area. The town has a total area of 16 square miles, with 1.0 square miles of water. Nearby communities include Wellesley, Wayland, Weston, Framingham, Sherborn, and Dover. The community is 10 miles west of Boston.

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A Great Place for Business Space

The town has a rich history of a strong economy. It was once an important shoe-making center, with 23 factories in the mid-1800s. It later added the manufacture of baseballs to its industrial base when the H. Harwood and Sons produced the first factory-made baseballs. Though these businesses have faded over the years, the town’s economy is still strong, especially due to the tourism industry. Middlesex County is the second highest tourism area in the state. Visitors spend over $2.6 billion each year in the area. Almost 22,000 are employed in the tourism industry here. This makes this town a prime location in which to lease or purchase business space.

The Neighborhoods of the Community

There are seven neighborhoods in the town. The following is a brief description of each one:

West Natick

This neighborhood is located in the southwestern corner of town. It is the least-expensive area in terms of property prices. The median real estate price is $312,233. Most of the construction in this section occurred between 1970 and 1999.

Lokerville

This is the northwestern corner of the community. Massachusetts Route 30 passes through the northern side of the neighborhood. The median real estate price is $543,542. Most of the buildings in this area were constructed between 1940 and 1969. The northern part of this section has a large commercial business area.

Town Center

This neighborhood is located in the north/central area of town. Its median real estate price is $544,000. The area is the historic district of the community, with many of the buildings having been constructed before 1940.

Lake Forest Park/North Natick

This is the northeastern corner of the town. It has a median real estate price of $562,015. Many of the buildings in this area were constructed between 1940 and 1969. I-90 passes through the northern part of this neighborhood.

Felchville

This neighborhood is in the eastern area of the community. The median real estate price is $602,755. Most of the construction in this section occurred from 1940 to 1969.

South Main Street/Pond Street

This south/central area of town has a median real estate price of $626,441. This is also a historic district with most of the buildings having been constructed before 1940.

Morseville

This southeastern corner of town is the most expensive property area in the community. It has a median real estate price of $766,706. Most of the construction in this area took place after 1939. The Charles River passes through the middle of the neighborhood.

Leasing Business Space

The business space available for lease in the community comes in all types: freestanding building space, shopping center areas, and historic district storefront space. On the recent market, there were 13 business spaces for lease. These ranged from a 1,250 square-foot space in a mixed-use shopping center for $1.92 a square-foot per month with a triple net lease to a freestanding building with 2,151 square-feet of space for $3.25 a square-foot per month with a triple net lease.

Buying Business Space

The business property listed for sale in the town also covers a wide variety of spaces. There are storefront properties, mixed-use shopping plaza properties, and freestanding properties. There have been five properties for sale recently. They ranged from a freestanding property with 2,964 square-feet of space listed for $350,000 to a 20,900 square-foot multi-tenant, mixed-use shopping plaza listed for $3,350,000.

Listing Business Space

In such a town with a large inventory of business space, it is important that a seller have an aggressive marketing plan for a quick and profitable sale. The most important step in this process is to select an agent with experience in commercial real estate in the area. “Given the constantly changing real estate climate, the sobering reality is that hiring a commercial real estate agent or broker is your best bet against losing thousands of dollars…,” advises a property professional.

Many features are needed to produce a prosperous community in which a business can grow. This town has those necessary features. As one resident expressed it, “[This town]has a small town, Main Street USA feel to it…It is safe, accessible to Boston, and has a lot of natural beauty….”

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