South Boston Retail Space - For Rent & Sale
In the market for retail or commercial space in South Boston? Southie has long been a great place to own a business, and the neighborhood is teeming with prime real estate options. If you've searched a little already, you may be frustrated by how confusing the market is. Never fear -- with Boston City Properties' free, up-to-the-second listings, you will have the information you need to quickly locate properties that suit your budget and needs. There's more too. We employ a team of talented retail and commercial space leasing experts whose advice is sure to come in handy during your search.
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Retail Space
Top Advantages of Owning or Leasing South Boston Retail Space
Retail sales and development in Boston have been on a huge upswing over the last few years. This phenomenon is clearly evident in South Boston, where all kinds of new retail establishments have sprung up of late. More people are discovering South Boston than ever, so there's lots of business for companies across all industries. To take the best advantage of the situation, it pays to choose the right retail space for your business. Doing so is a snap when you avail yourself of Boston City Properties' free listings.
Locate Prime Retail Space in South Boston with Boston City Properties
At a loss about finding the perfect retail space for your business in South Boston? The market is fast-paced and confusing, to be sure. That doesn't mean you should just roll the dice and hope for the best. Boston City Properties is here to help you locate commercial properties that suit your business's needs perfectly. Our friendly team can also assist you in sorting through various lease options, including net leases and gross leases. Whatever your retail space needs may be, you're sure to find what you need in South Boston. Sign up for free access to Boston City Properties' listings now, or give us a call today.
Typical Properties
Known primarily for its array of repurposed industrial buildings and mixed-use redevelopment projects, this neighborhood of Boston has a fairly high urban density, and shares many characteristics with the Seaport District, which it technically encompasses. Unlike the Seaport District, this neighborhood is not limited simply to the waterfront and a few select blocks inland; the area is bordered by Interstate 93, and includes the Joe Moakley Park. Typical properties therefore occasionally include strip malls or other complexes that are sited on larger tracts of land.
As an example, the property at 20-50 Old Colony Road features a flexibly zoned structure that has 119,725 square feet of total leasable space. Built in 1939, this building is located fairly close to Interstate 93, and encompasses most of a city block. Located 0.4 miles from the nearest Red Line subway station and 1.4 miles from the nearest MBTA Commuter Rail line, the building is positioned on the intersection of Old Colony Avenue and Dorchester Avenue. With three floors and maximum contiguous blocks of 21,725 square feet available, the building is ideal for a variety of uses. Innovative entrepreneurs can easily make use of the adaptable floor plan, which can be configured to suit an almost endless number of purposes.
Another typical property is the low-slung building at 515 East 2nd Street, which features four roll-up doors and a small paved asphalt loading and unloading zone at the front of the property. Located close to Telegraph Hill, this 13,000 square foot structure was built in 1950 and has been well maintained. Originally designated as a service station, the property can still be used for this purpose, or transformed into an alternative usage. The space is currently divided into two principal units of 6,500 square foot each, and comes with its own signage.
The area is not without a dedicated historic business zone, as evidenced by the property at 400-408 West Broadway. This three story clapboard structure with a brick chimney is an example of the traditional ground floor commercial suite design, with two stories of offices/residences above. It features signage above the ground floor suite, and opens out directly onto a busily trafficked sidewalk and adjoining street. Pedestrians and neighborhood denizens are frequent patrons, but the prominent locale makes it easy for visitors to access, too. Built in 1920, the building has been meticulously maintained and features a commercial suite of 1,200 to 2,400 square feet.
The transformation of industrial space into contemporary shopping and living suites is evident at the property at 110 K Street, which has a total leasable area of 40,800 square feet. Built in 1915, the property is located very close to the Seaport District, and has been well maintained. The interiors have been thoroughly renovated, and feature exquisite high ceilings with carpeted flooring, doors with glass panels, and elegant conference rooms and large open spaces. The row of windows on each floor provides excellent light throughout the year, and also makes the space highly adaptable for a number of different uses. With a fenced lot, the structure is located 0.7 miles from the nearest transit stop, and has commercial suites of 2,000 to 5,000 square feet available for lease.
Average Renting and Buying Prices
This area is a relative bargain in terms of its average rental and sale prices; located close to the rapidly expanding Seaport District, the properties in this area will undoubtedly only rise in value as time goes on. Currently, the median range for a commercial lease in this area is $2.50 a square foot per month. The average purchase price varies depending on the size of the property, but has a median rate of approximately $550 per square foot.
Raw land is still available in this neighborhood. The parcel at 5 Cypher Street is located near the Seaport District’s Lawn on D, and has an area of 0.41 acres, or 17,859.6 square feet. The sale list price for this commercially zoned lot is $10,000,000, which translates to about $560 a square foot.
The property at 416 West Broadway has a total leasable area of 29,000 square feet, and is located in the heart of downtown. Built in 1900, the brick and masonry construction building features a beautifully articulated exterior, with a stone facade on the corner unit encasing a number of enormous display windows on the first and second floor. This dramatic change of material naturally draws the eye to the corner unit on F Street and West Broadway, and acts as a lure to passerby and other traffic. The interiors feature exposed brick walls with freshly installed hardwood flooring. Columns with a wood facade run down the center of the suite and create a sense of grandeur as well as call attention to the twelve foot high ceilings. Located 0.7 miles from the nearest Red Line subway stop, the space is highly accessible and features commercial units ranging in size from 1,300 to 1,600 square feet in size, with an option of expanding the unit to a maximum contiguous area of 3,200 square feet. The rent for this structure is $2.75 to $3.33 per square lot per month.
The property at 423 West Broadway was built in 1910, and features numerous gorgeously restored period details, including a grand staircase with wooden treads and articulated wooden banister. The industrial roots of the neighborhood are evident throughout the structure; areas with large doorways and wire holding cages near the restored freight elevator are sprinkled throughout the building, creating elegant visual throughlines that connect the past to the present. Many of these former loading and transit zones have been reclassified as “common areas,” and create spontaneous nooks for conversation, connection, and innovation. The exterior of the structure is elegant brick with rows of windows on each of the four floors. The ground floor features ample display space that overlooks the sidewalk. A space directly above the ground floor is ideal for business signage. With a total leasable area of 47,932 square feet, the property includes high ceilings and several kitchenettes. Suites of 1,705 to 7,300 square feet are available for lease. The rent for this property ranges from $1.42 to $2.33 a square foot per month.
The property at 148 Dorchester Avenue is located close to Interstate 93, and has 48,790 square feet of leasable area. Completed in 2016, this complex features an elegant series of ground floor suites that are topped by five stories of residential and office units. The exterior features a pleasing undulating pattern of brick and concrete, with enormous windows that allow natural light to stream into the technologically equipped interiors. The building has one portion that becomes a curved facade that recalls the Flatiron Building, as well as numerous trees that are located around the perimeter of the building. This blend of top tier facilities located close to a number of neighborhood amenities makes this space particularly desirable for a business that wishes to benefit from a tight-knit community.
Real Estate News
In addition to the explosive growth of luxury condominiums in the Seaport District, this neighborhood has been experiencing rapid development thanks to a number of biotech companies choosing to locate to the region. The companies in this neighborhood tend to focus on drug discovery and pharmaceutical development, which has created a strong local labor pool of scientists, engineers, and chemists. Several of the industrial spaces have been converted into labs or research facilities, and a number of new projects are creating either office space or industry specific units to keep up with demand.
The area has experienced this growth partly because of its relative availability of preexisting industrial spaces and its close proximity to both Logan International Airport and Interstate 93. Because this area is highly accessible to both large freight delivery and international travel, the biotech industry has invested heavily in both development and redevelopment projects, which has subsequently spurred the creation of numerous hotels, restaurants, and other commercially-oriented structures.
As an example, The Boston Edison plant on 776 Summer Street has become the site of a proposed massive redevelopment project. Part of the existing structure would be demolished, while the remainder of the building would be repurposed into a combined 2.1 million square feet of office, commercial, hotel, and other mixed-use purposes. Parking would also be provided onsite. The 15.2 acre site was purchased in April 2016 for $24.25 million, and went through an intensive community process that solicited the opinions of neighbors and business owners as to the best uses of the site. Correspondingly, the fences and walls that currently demarcate the boundaries of the property will be removed in order to create easy accessibility to the surrounding neighborhood. Three historic turbine halls will be revitalized and opened to the public to create a readily identifiable center and public gathering place, while the ground floor will be converted into spacious, welcoming commercial suites.
The One Seaport Square project, meanwhile, is estimated to cost $400,000,000, and includes 1.5 million square feet of new leasable space on three acres of land. Divided into two principal towers, the project includes 250,000 square feet of commercial suites on the first three floors of each building. Known as the “Benjamin and VIA,” the two towers are 22 and 20 stories in height, respectively, and qualify for LEED Certification. The suites within this building are also technically “smart,” in the sense that they offer access to technology that makes tasks like dry cleaning and grocery shopping very easy. Enormous exterior courtyards provide a civic center of sorts, as well as a gathering place for adjacent biotech workers and commuters. It’s worth noting that One Seaport Square is part of the larger Seaport Square project, which contains an incredible 7.6 million square feet. Numerous projects within this large development have yet to be built, but many of them are capitalizing on the dynamic energy and excitement of the region. As part of the development, the neighborhood is also investing in more public transit and the specific creation of arts facilities. In all, this neighborhood is likely to continue to revitalize and repurpose its spaces for maximum use and benefit of all its residents.
Sign Up Benefits
Where are the best deals in this neighborhood, and how can you see them before anyone else? Our viewing service allows you to visit some of the hottest properties on the market when it is most convenient for you. Whether you are interested in getting the first crack at prime ground floor commercial suites right on the waterfront or in a newly renovated building close to Interstate 93, our service keeps you informed and matches you with properties that will fulfill all of your needs and specific configuration requests.
As this area develops, each new project is heavily influenced by a variety of local stakeholders. This means that certain blocks of suites may be designated as “commercial,” but that their specific design and features will be guided by input not only from the chief developers, but from likely tenants. Our service allows our clients to view properties at the earliest possible stage, which subsequently often leads to the formation of excellent, long term business partnerships.
By signing up with our service, our clients will be able to view properties that are in some senses custom made just for them. We are able to communicate with a variety of different owners and leaseholders to find the ideal setting and amenities for a particular enterprise, organization, or operation, often months in advance of an official vacancy.
Publicly viewable listings offer a survey of an area, but it is the listings that are about to come onto the market that usually provide the best possible deals in the best possible locations. Our experienced team of property analysts understands how to create the ideal connection between an interested party and a property owner looking to sell or lease. By signing up with our service, our clients no longer have to hope that their request will be noted among a slew of other applicants. Our clients can count on viewing the properties they are most interested in without the hassle of a wait or a missed connection.
We are currently monitoring the developments at One Seaport Square, as well as several properties along Summer Street, Drydock Avenue, Dorchester Street, East Broadway, William J Day Boulevard, and First Street. Our agency spans the gamut of real estate in this area. We highlight amenities including access to public transportation, the date of the most recent renovation or construction, the availability of city services on commercial lots of land, and the special features that distinguish one property from another. Whatever you may be searching for, our service is designed to help you find it.
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Retail Space