Wellesley Office Space

Why Leasing and Buying Office Space Is a Great Idea

Known for its affluence, this community is a top spot for investors and business owners. Right now is a good time to buy spaces in the area because the property values have temporarily dropped. Because of the location and appeal of this town, these property values are unlikely to remain low for long. By investing in a storefront now, businesses can ensure the long-term stability of their company.

Search Office Space

For your company to succeed, you need a place for your operations. Luckily, there are a number of spots available for sale or for lease in the area. This area has a strong consumer base, so it is an ideal spot for businesses. If you choose to buy a business in the area, you can gain equity on your investment and lease out extra spaces to other businesses. For a new business, leasing a space may be the best option. No matter what you choose to do, this area is a top spot for growing and established companies.

Discover the Area

Situated within Norfolk County, this town has the third highest median household income in the state. As one of the wealthiest communities in the country and the home of Wellesley College, it is a top spot for investors and business owners. Placed in the eastern part of Massachusetts, this town is bounded by Weston on the north. Natick makes up the western border, while Newton is placed to the east. The communities of Dover and Needham can be found to the south. Within the community, residents will find a number of different neighborhoods like Babson Park, Sheridan Hills and Poets' Corner.

In the last year, the median home price has dropped by 12 percent. Meanwhile, the average price per square foot fell slightly to $480. The median sale price is currently at $1,166,192. For investors, the brief drop in sales price makes right now a good time to invest. This desirable area is continuing to grow, so the current prices are unlikely to stay low for long.

Leasing Spaces in the City

Within this city, you can lease Class A, Class B and Class C spaces. While Class A spaces are the most luxurious and have the best locations, they also tend to have a higher price. If your business does not have a lot of foot traffic or you merely manufacture products, a Class B or Class C property may be a more affordable option.

Class B spaces will generally have fairly good locations and decent amenities. These are the mid-range spaces, so they tend to appeal to businesses that want a good space without the higher cost of a Class A property. With a Class C property, you are able to get the low-priced leases and flexible leasing terms. These tend to be in less desirable locations or older buildings, so there is a trade-off in terms of amenities and features.

For a budget-friendly option, companies can check out shared workplaces and co-working spaces. Both of these options work well for start-up companies because they offer low prices. They tend to be outfitted with features like office equipment and business furniture already, so businesses can immediately start working from their new space.

The properties can vary significantly in the amenities and features that they offer. In general, the more expensive properties will have a better location and more desirable amenities. From conference rooms to receptionists, these spaces can offer a wide range of amenities for businesses.

Buying Properties

Many companies within this area choose to buy a storefront instead of leasing it. While leases appeal to businesses on a budget, a commercial mortgage can be a desirable alternative. Often, commercial mortgages are available for a lower cost than a standard lease. Over time, your mortgage payments help you earn equity in the property. Later on, this equity can give you financial leverage as you grow your business.

If you buy a large enough building, you can also lease out extra units to other businesses. This gives you a chance to earn passive income from rent as you build your company. Best of all, the leased spaces can help you cover your overhead costs as you run your business. You are able to deduct some of the costs of the property from your taxes and gain a long-term location for your business.

Listing Properties for Lease and for Sale

When you want to list a property, you need the right tools and expertise to get the best price. Whether you plan on selling or leasing your building, Boston City Properties can help. Our team of experts can help you navigate the real estate market as you sell or lease your complex. To get started on your next listing, call Boston City Properties today.

Search Office Space