Seaport District Retail Space - For Rent & Sale

If you've explored Boston's Seaport District lately, you were probably impressed by how vibrant and eclectic the neighborhood has become. With so many great condo and apartment developments built here in the last several years, the demand for retail products and service is higher than ever. It's a great time to own a business in the Seaport District, to be sure, but finding the right location can be confusing. The best solution, by far, is to avail yourself of Boston City Properties' free, continually updated listings. They include options for commercial space right in the Seaport District, allowing you to find precisely what you need.

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Retail Space

Top Benefits of Retail Space in the Seaport District

The most important thing to remember when looking for Seaport District retail properties is that you need to be where your customers are. Well, this neighborhood has been growing by leaps and bounds, which means there are more people passing through it on a daily basis than ever. With so much foot traffic, the district is a terrific place for retail business of all kinds. Opportunities abound whether you want to buy or lease. In the case of the latter, most properties can be leased under a variety of terms, which is perfect for growing businesses.

Lease or Purchase Seaport District Retail Space with Boston City Properties

Running into dead ends while searching for retail space in the Seaport District? Chances are you're not working with accurate information. Boston's commercial real estate market is incredibly fast-paced. In a neighborhood like the Seaport District, first-rate commercial and retail space doesn't last long. Sign up for access to Boston City Properties' free listings to quickly identify properties that suit your needs and budget. Our friendly retail space leasing and sales experts are available to assist you as well, so you never have to go it alone. Start searching our listings or give us a call today to get started.

Typical Properties

The exceptional growth of this area is due in part to its vast tracts of open spaces, which were previously used for storage of marine equipment and other ship-docking activities. The addition of luxury condominiums, enormous mixed-use spaces, and revitalization of existing buildings has transformed this district into one of the hottest areas of Boston. Typical properties for this region therefore are usually a combination of a historic structure that has been repurposed/restored, or a brand new development that has unparalleled waterfront views.

Drydock Avenue, which runs along what used to be a wharf in this neighborhood, is a perfect example of the area’s typical property types. This long, straight boulevard is home to the 825,552 square foot structure at 21-25 Drydock Avenue. With eight floors of suites, including a ground floor that features numerous loading bays (which could easily be converted into enormous display windows) this property was originally built in 1914, and retains the understated ornamental flourishes of that area, with elegant concrete and stone work on its facade. Contiguous suites as large as 34,784 square feet are available, although suites of 3,776 square feet can also be leased. In each case, the floor plans are fairly adaptable, offering tenants the ability to customize their unit to their specific needs. The conversion of an industrial building into a commercial entity offers multiple benefits, including proximity to other businesses and easy accessibility from both the streets and waterbound craft such as ferries. The neighborhood is also purposefully incorporating more green spaces to try and mimic the urban fabric of the larger metropolis, which normally layers dense development with nearby parks.

A brand new development at 2 Drydock Avenue, which is scheduled to be completed in 2019, demonstrates the other commonly found property type in this region. With wrap-around glass suites on the ground floor that are artfully sheltered by a steel frame wrapped in beautifully finished wood, this mixed use development combines commercial units with offices. The interior lobby is complemented by a lush exterior courtyard, which combines enormous planters with trees and visually stimulating pavers. Artfully integrated benches on which to sit and casually eat lunch, or have a spontaneous coffee with friends, are peppered throughout this exterior courtyard, creating a natural yet atmospheric gathering place. The complex features several buildings, one of which has twelve floors. The architecture of each of these structures combines glass curtain walls with elegant material touches, including polished granite and wood. The 223,127 square feet of leasable area within the complex is broken into several units of 27,079 square feet. However, 214,106 square feet is available in a contiguous block for the right tenant.

A new hotel at 317 D Street rounds out the last of the typical properties in this area. With 396,240 square feet of total space (which translates to roughly 500 rooms and 4,700 residential units), the hotel features a commercial component in the form of a 8,219 square foot unit on the ground floor. Located 0.6 miles from the World Trade Center Station, 0.7 miles from the Red Line Broadway Station, and 3.7 miles from Logan International Airport, this property combines urban accessibility with adaptability. It is also located within walking distance of the waterfront, and provides stunning views of the surrounding city. The property also has the largest patio in the neighborhood. Built in response to the high housing demands of the metropolis, the project anticipates enormous future growth in the region.

Average Renting and Buying Prices

It can be difficult to establish a median price in an area with an enormous amount of new construction, partly because the market is still finding its level. With that said, the average rent in this neighborhood tends to be higher than it would be in other sections of the city. Generally speaking, a private apartment rents for an average of $5.00 per square foot per month, whether it’s a 487 square foot studio or a 1,057 square foot two bedroom, two bath unit. The rental price for a commercial suite is slightly more expensive, with an average of $5.10 per square foot per month. Those who wish to purchase a residential unit in this area should expect an average price of $1,000 per square foot, although this can increase to $3,400 a square foot for properties with exceptional waterfront and city views, such as a penthouse suite. Commercial properties tend to have a price range of between $200 and $500 per square foot.

The property at 22 Boston Wharf Road was thoroughly renovated in 2001, and features nine floors of commercial space. With a Silver LEED Certification, the structure combines all the best in state of the art technology with the comfort of a brick and masonry building. The building has 178,335 square feet of total space, of which suites of 450 square feet are available for lease at a rate of $2,295 per month.

Meanwhile, the property at 250 Summer Street was built in 1903, and has since been fully renovated. With 104,709 square feet of space spread out over eight floors, this building has suites of 13,090 square feet available for lease. The average price for a unit in this building is $7.00 per square foot per month; however, depending on the specific lease terms, this figure may vary slightly.

The property at 2 Seaport Lane features excellent opportunities for ground floor retail, and several floors of prime office space. Built in 2000, this 16 floor building has a total of 503,834 square feet available for lease. With a Silver LEED Certification, the property is sited on a three acre parcel overlooking the waterfront. Suites of 5,980 square feet are available for lease, and the average lease rate in this building is $6.75 per square foot per month.

For those developers looking to invest in an entire building, the entry prices begin somewhere around $50-$60 million dollars, depending on the amount of square footage and the property’s relative location within the district. In August 2014, the 110,718 square foot building at 51 Melcher Street was purchased for $52.8 million, or $476.88 per square foot. In April 2017, the three story, 376,000 square foot complex at 88 Black Falcon was purchased for $60 million, or $159.57 per square foot.

There are no signs that the market is likely to cool down soon; steady population growth is anticipated for at least the next five years. In November 2017, 3,000 square feet of sidewalk near 150 Seaport Boulevard was listed for $1.95 million, or $650 a square foot.

Real Estate News

This neighborhood has distinguished itself by transforming vacant, underutilized areas into some of the most profitable and luxurious real estate in the city within a very short span of time. This has been accomplished partly by creating a district-wide innovation hub, anchored by the Innovation and Design Building. The area has experienced explosive growth mainly because of its emphasis on attracting progressive-minded entrepreneurs, developers, and creative visionaries. The idea has been to create a dynamic new center of energy and business opportunity, thereby perpetually fueling the growth of the area. Because the region is so close to downtown Boston, it benefits from a host of people and businesses that are eager to capitalize on the region’s amenities while creating a new section of the city.

Numerous large developments have either been completed recently or are expected to finish construction soon. These include a new two building 294 key hotel and 304 residential unit complex at 315 Northern Avenue. Both buildings will be twelve stories tall and feature 20,000 square feet of commercial suites. Plans for a 22 story, 124 residential unit tower on the waterfront was approved in January 2018, while a 1,054 room hotel with ground floor retail suites across from the Boston Convention Center will be completed in 2021.

The Echelon Seaport is currently undergoing construction, and is expected to be completed in 2020. This development is one of the larger structures in the area, and in addition to its 733 apartments will have 125,000 square feet of combined dining and commercial space available for lease when it opens. The so-called “sausage parcel” at 399 Congress Street is also currently undergoing construction, and will offer 414 new units of housing including common areas for collaboration.

A variety of corporations and biotech companies have also made the area the site of their headquarters, including MassMutual, which announced plans to construct a $240 million dollar office building in the area in February 2018. Worcester Polytechnic Institute officially cut the ribbon on their new suites at 303 Congress Street in January 2018. The Institute’s new offices feature a 6,400 square foot Project Center, which will create a location for city-wide research projects. This component of the complex ties back into the overall notion of the Seaport District as an innovation hub and place for communal ingenuity.

As more companies and businesses move into the area, a corresponding development in civic and cultural amenities, including performance arts spaces and a public library, is also in progress. In February 2018, it was announced that eight different groups had submitted proposals for occupancy of a 13,166 square foot space at 50 Liberty, which is located on the waterfront. In November 2017, State Representative Nick Collins appropriated $10 million for the development of a public library as part of a 12.5 acre parcel referred to as Seaport Square. While the measure awaits final approval, the idea of creating a city that has both public and private gathering spaces is clearly important to many. As more businesses and companies make this area their home, investors can expect the development of increasingly sophisticated and welcoming urban amenities.

Sign Up Benefits

Whether you are seeking a temporary office space, a long term retail suite, or a partnership that will enable you to invest in what can only be described as one of Boston’s hottest new neighborhoods, our site offers one of the best ways to view properties before they hit the larger market. By signing up with our service, you can literally get in on the ground floor of some of the most profitable properties in the city.

Our service is built on trust and experience. We’ve spent years developing relationships with some of the most visionary developers, property owners, and brokers in the region. As a result, we can provide you with convenient viewings in the most desirable and talked about properties. Additionally, once we understand what type of property you are seeking, we can send you customized notifications when a new unit is about to come to market.

We believe that the best deals aren’t just about square footage and location, but communication. Understanding what both the new potential owner and current owner are looking for helps to create a positive and rewarding relationship that can last for years, if not decades.

This particular neighborhood is currently developing at a rapid pace, which is great news for everyone. Whatever particular configuration you may be seeking, it’s likely that we will be able to find a unit that either meets your requirements or can be built to suit. This also applies to the type of lease you may be seeking. Many of the properties in this area are seeking reliable, multi-year tenants, and want to create partnerships that facilitate an excellent working relationship.

The great news is that even buildings that were built in 1900 have either been renovated or repurposed to feature state of the art technology and a high degree of accessibility, making them suitable for a variety of businesses. The number of new developments in the area simultaneously makes this an excellent locale in which to invest in brand new facilities that will only continue to appreciate in value. Essentially, this area is an investor’s dream.

As the waterfront continues to develop, more suites that cater to innovative, even boutique enterprises, are likely to flourish. By signing up for our service now, you can be sure to receive updates ahead of the crowd.

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Retail Space