Woburn Office Space

Why Leasing and Buying Office Space Is a Great Idea

With its desirable location, this community is a hot spot for investors. Its proximity to Boston makes it a popular spot for retail shops, professional offices and manufacturing businesses. For your company to get off to a good start, you need to have a storefront in the area. Leasing or buying a property is the first step toward starting your next business.

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Discover the Area

Situated within Middlesex County, this community spans 12.9 square miles in size. Of this number, 12.7 square miles are of land and 0.2 square miles consist of water. This town is placed only 9 miles away from Boston, which makes it a top spot for commuters and business owners alike. This town is bounded by the communities of Lexington, Wilmington, Stoneham, Burlington, Reading and Winchester.

At the moment, the median price of a home in the area is at $425,000. This is about the same price as it was a year ago. Because of its location and the many companies headquartered in the area, this town is a popular spot for new businesses. Companies can enjoy having easy access to a vibrant consumer base and an educated workforce within this community.

Leasing Spaces in the City

Within this community, there are different classifications of buildings. Like the rest of the country, this area has Class A, Class B and Class C spaces. The Class A classification is often given to the newest properties or landmark buildings. These units typically have the best amenities and are in an extremely accessible area. Because of the better amenities and desirable units, these properties often charge a higher price.

For a more flexible lease, businesses can check out Class B spaces. These units are often placed in good locations that are only slightly less accessible than a Class A property. They may be slightly older or have fewer amenities, which is why they tend to have lower prices. For the most budget-friendly option, check out Class C properties. These units may be located off of the main roads or in older buildings. Because of this, they tend to have extremely flexible leases or low price ranges.

Start-up companies can also find cheaper options through co-working spaces and shared business workplaces. These units are typically furnished with all of the office equipment and furniture that you need, so you can immediately start doing business. While the space is shared with other businesses, this also means that you get to share amenities like a receptionist, conference rooms, mail delivery services or concierge. For new companies, shared business workplaces and co-working spaces are an affordable, viable alternative.

Buying Properties

If you have the budget for it, buying a property is a good investment in your company's future. When you own the property, you can renovate it to suit your company's needs. Instead of dealing with constant rent changes, you get a stable monthly mortgage. The mortgage's interest, property taxes, depreciation and other costs can often be deducted from your taxes.

When you own the property, you are also able to gain income through rentals. If the property is large enough, you can rent out extra units to other companies and business professionals. By renting these units, you can cover the cost of your mortgage and overhead. In addition, your property can be used to secure business loans in the future if you want to grow your company. When you are ready to sell your business, you can find a buyer for the property and enjoy all of the equity that you have developed in the building.

Listing Properties for Lease and for Sale

Listing your property for sale or for lease does not have to be difficult. Whether you are looking for a buyer or need to find the perfect tenant, Boston City Properties can help. Our team of real estate professionals can help you navigate the marketplace and earn a profit from your investment. To learn how we can help list your building, email or call us today.

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