Needham Office Space
Needham, which is a town of about 30,000 individuals, is a great place to have a business in Norfolk County. It is home to businesses such as Coca-Cola, Trader Joe's, and TripAdvisor, so it is a location with a lot of potential. The town is located right near I-95, which makes it easy to reach, and there is even an MBTA commuter rail that connects to Boston's South Station, which will easily bring customers to your door.
Search Office Space
Neighborhoods Worth Considering in the Area
When searching for a neighborhood for your new business location, it is important that you consider which area is going to be the best for your niche. An artsy business may not be the best option for a technologically inclined area; you need to know your customer base and what they want, which is why the neighborhood that you select could be important for the success of your business. In this town, there are five different neighborhoods to consider, which are:
- Charles River Station / Charles River Village
- Needham Junction
- Birds Hill
- Town Center
- The Heights
Leasing Space for an Office in the Area
Leasing space is a great option to consider when you are selecting a location for your next office space. There are quite a few advantages that you get from leasing space that will make running a business simpler. In fact, because the price is often lower, you may even be able to seize opportunities in more lucrative areas of town. Some of the leasing option to consider are:
- Full Service Lease – This is an all-inclusive option that is often preferred by business owners. The owner of the building will manage the maintenance, taxes, and the insurance, which will save you a lot of time. This type of lease tends to be a bit more than other options.
- Net Lease – This is an option that tends to be a little less than a full-service lease because the things that are included in a full-service lease are optional. If you opt for maintenance and other things to be included, you can pay the owner to take care of it for you. Net leases that combine utilities and operating expenses are often called triple net leases.
- Modified Gross Lease – this is an option that gives you a middle option that provides a leasing structure where additional fees do not always increase over time, but the amount is set, which means that if the fees are less, the owner gets to keep the profits.
Buying Space for an Office in the Area
When you are purchasing real estate for your office, there are quite a few benefits that you would not experience by leasing space. Let's take a look at this more in-depth:
- Stability – Having a stable location is important for a growing business. This helps ensure that your clients know where to find you when they need your services.
- Mortgage Steadiness – When you lease property, there is a good chance that your rent will increase when the market prices in the area increase, but when you own property, your mortgage will remain the same.
- Cash Flow – If the space that you purchase is larger than the space that you need, you can rent out the space to another business. This can help you pay the mortgage, maintain the space, and see a return on your investment sooner.
Listing Office Space for Lease and Sale
Are you ready to expand and move to another location that can better accommodate your needs and provide enough space for your employees? Not all spaces are designed to last, and when you purchase a space that turns out to be temporary, you need to decide whether you are going to lease it out or sell it.
Both options have positives and negatives that you will need to consider, but instead of making the decision yourself, you can contact a professional real estate broker at Boston City Properties to help you list your property. We know the area and we have the tools to help you get the most out of the property, regardless of whether you choose to lease or sell it. Call today at 617-247-1933.
Search Office Space