Newbury Office Space
When you are looking for a new location for your business, sometimes a small town can be an ideal location to consider, especially if your services or goods are needed by the residents in the area. Newbury is a town of merely 7,000 resident, but it is a great place for a business, especially since there are a few larger cities nearby where customers can travel from to find your business.
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Neighborhoods Worth Considering in the Area
If you do decide to build your business in this town, you will find that it is an area that is growing quite a bit, especially with its close proximity to Boston. There is only one neighborhood in this area of Massachusetts, so if the town fits your niche, all you need to do is start looking for property in the area that fits your needs. Prime space in a small town is not always about having the biggest offices in the area, it is more beneficial to have an easy to locates space that is going to help your business see return customers. This is a town with mostly white-collar workers that work in management and professional positions, which means that you will most likely also have a choice of employees to choose from who live nearby.
Leasing Space for an Office in the Area
When you lease a space for your office, you are going to find that there are quite a few benefits that you will enjoy. First, the initial cost of the property is going to be much lower than it would be to purchase the same type of space. In addition, all of the lease payments that you make are going to be tax deductible, which can save you even more money.
Typically, with this type of real estate, the owner is going to be the one in charge of taking care of repairs, maintaining the building, and making necessary upgrades. However, there are also other things that many owners take care of with leased properties as well. This includes things like utilities, internet, phone answering services, and access to meeting rooms. In fact, some of the spaces that you lease will come with office furniture and other things that you may need for your business to function on a daily basis.
Buying Space for an Office in the Area
Purchasing space means that you need to make a larger initial investment, but it is a great way to quickly build equity that you can use as collateral. You will have the option between three different commercial properties, which are:
- Class A – This is the option that gives you the most modern look. Most of these buildings were built within the last 20 years, and they have amenities and finishes in the space that look modern and exquisite. If you are looking for a space in a high-rise, you will most likely be looking for a Class A.
- Class B – This is going to be the most prevalent type of space in this area, but typically, Class B spaces are located in buildings that are only a few stories. The space is still going to look professional, but it is going to be a little older than a Class A space.
- Class C – This is a space that is typically used as a temporary location for a business. These are older buildings that function well, but they may not be pleasing to the eye of potential customers, which is why it works best as an office space.
Listing Office Space for Lease and Sale
Business real estate does not always involve purchasing space for your business; in fact, when your business outgrows the space that you currently own, there is a good chance that you may simply want to rent a short-term space until you are able to sell the current space and purchase a new one. Listing your space to sell or lease to another business in the community can be difficult if you do not know the current market for commercial real estate, but contacting a professional real estate firm such as Boston City Properties can help streamline the process. We know the area and have the resources to help you lease or sell your property so that you can get the profit that you need to purchase a new location for your business. Contact a representative today at 617-247-1933 so that we can help you keep your business growing.
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