Norton Office Space
If you're looking to establish your new office in a medium-sized town in Massachusetts, then you should consider a welcoming community like Norton, Massachusetts. Not only is this town beautiful and suburban, but you will have a fairly easy time finding a home for your business in the various office parks throughout town. Most of the office real estate in the area is based in single-story business developments, but this type of space is optimal for several types of businesses.
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Neighborhoods in the Area
One of the first things of note about this town is the fact that it's made up of four distinct neighborhoods. These neighborhoods are each suburban and have business parks specifically set up for businesses that are looking for space that can be used for an office. The four neighborhoods are:
- Winnecunnet
- Town Center
- Chartley
- Centre Milles
Each of the neighborhoods has a suburban feel to it and pricing for an office area can vary significantly. For the most part, areas like town center and Winnecunnet cost slightly more than the other two areas. In any situation, most office parks and buildings are fairly well situated for most types of offices, but if your business is dependent on foot traffic, areas like the town center are optimal because of the fact that residents have a tendency to visit this part of town when they are looking for retail opportunities.
Leasing Space for an Office
When you're looking to work from a new office environment, you'll have the option to either lease or purchase the space. Both of these options have their pros and cons, and whichever you select will affect how your business is run in the long-term. Leasing is a great option for anyone that wants to save on upfront costs because this type of arrangement doesn't require a down payment. In this section, we're going to take a look at the three types of leases:
- Full-Service Lease – With this type of commercial lease, you'll have everything included in the lease terms. Included in this lease are landlord-managed maintenance, property tax, and insurance. All of these charges are reflected in the rent, so as a result, this type of lease is the most expensive.
- Net Lease – Net leases are broken down into smaller payments on a month-to-month basis. As a result, the actual rent for a net lease is typically very cheap, but you can also expect add-ons for insurance, taxes, and maintenance. The triple net lease is oftentimes the most popular form of this type of lease.
- Modified Gross Lease – For those looking for an in-between option that's beneficial for both the renter and the landlord, then a modified gross lease is a good option. With this style of lease, when costs rise, the renter will still be paying a fairly set amount. Conversely, when prices drop, the landlord sees this as a savings, which is a great benefit for an owner.
Buying Space for an Office
If you opt to purchase your space, you'll have an option of a few types of properties that will be able to house your business. For the most part, these properties vary based on the age of the building, the business amenities, and convenience level. Here are your options:
- Class A – If you're looking for prestige, Class A buildings are some of the best looking, well-equipped buildings that you could select. Usually, these buildings will be less than 20 years old, will also have some beautiful finishes on furniture, and may also have multi-level designs. As you might expect, a Class A will typically go for the highest rent.
- Class B – If you're looking for a nice mid-level of accommodation, a Class B commercial space will have decent modern features, a few stories, and a few amenities for your business. These tend to be in cheaper areas of town, so a Class B space is a good compromise for anyone that doesn't want to pay top dollar.
- Class C – If you only need utility, then a Class C space is a good option. This town has a lot of one-story Class C commercial spaces. If you need functionality for your business, this is a great option and it isn't very expensive either.
Listing Office Space
If you happen to own a commercial space and are looking to have it make you some cash, then you'll need to list your space for rent or sale. With a town like Norton, you'll have options and since the town is growing, you should be able to find potential tenants or buyers. At Boston City Properties, we have years of experience helping our clients close on these types of sales, so give us a call at 617-247-1933 so that we can help you.
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