Brookline, MA Commercial Real Estate for Sale and Lease
Do you need commercial real estate in the vibrant town of Brookline, MA? Do yourself a favor and connect with Boston City Properties. We maintain one of the largest searchable online databases for Massachusetts real estate, and it includes up-to-the-second listings for commercial space for sale and for lease in this bustling town. We also have real estate experts who can guide you through the process of leasing or buying commercial real estate in this area.
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Commercial Property List
What to Expect
Tracking down the right commercial space in a busy place like Brookline can be daunting. At the time of the 2010 U.S. Census, it had a population of around 59,000. This Norfolk County town is directly adjacent to Boston, so it is a popular location for business across many industries. A high population density means that most properties are located in large buildings, and space for sale and for lease is readily available throughout the town.
Business Districts
Computer science, finance, health care and sales, office and administrative support are among the most popular industries in this fast-paced town. As a result, the market here is dominated by office space. However, you can just as easily find retail space along its shopping districts as well as businesses for sale all around town. If you're looking for promising commercial investment properties, you will be able to choose from a wide array of exciting opportunities.
Types of Commercial Space
This bustling town has a vibrant shopping district that's crowded with storefronts of successful retail businesses. Finding suitable retail space here is fairly easy, and you can take your pick from many sizes and other characteristics. If you're actively searching for commercial space in this town, you already know what you need. By availing yourself of our convenient search feature, you'll find it a lot more quickly.
Tips for Finding Commercial Real Estate
Zeroing in on the right commercial real estate in Brookline, MA, is a breeze with Boston City Properties. From this page, sign up for immediate, free access to our vast, searchable, continually updated real estate database. You can then browse and search listings for commercial space for sale and for lease throughout town. Use filters to further hone your search and to ensure that your results are as relevant as possible. In no time, you will have a list of viable options. Boston City Properties can then connect you with skilled, experienced commercial real estate agents in the area who can assist you further.
Start Searching Now
Don't let the perfect commercial space in this exciting Boston-area town slip through your fingers. Quickly gain access to a wealth of up-to-the-second information about commercial real estate here and in other Massachusetts towns and cities by completing and submitting the form on this page. Whether you need office space or are looking for profitable investment properties, we have you covered. Our team is here to help, so contact Boston City Properties today.
Characterized by a quaint downtown area with shops, restaurants, florists and other conveniences tucked inside beautiful brick buildings and plenty of scenic open space on the outskirts, this historic Boston suburb is a joyful place to live. Thanks to the advent of quality public transportation and proximity to the big city, one can reach Boston within just minutes. This town was settled in the 1600s by European colonists. Prior to that, it belonged to the Algonquian Territory. It was not until 1705, however, that the town was officially incorporated. It was once part of neighboring Brookline, but has since gained independence. Small rivers and streams form natural northern and southern borders in this town, which separates it from Brighton to the north. The town has a population of over 58,730 people, according to the 2010 census. The town is joined to Boston through the MBTA Green Line, which provides two-way (inbound and outbound) service to Boston and neighboring Newton. The town is part of the MBTA’s B, C, and D branches. The convenient access to Boston makes the town an attractive place to live. The population has risen steadily since the year 2000, which is a promising trend for investors, commercial and industrial businesses and retailers, who depend on the health and vitality of the city to survive. In the case of investors, the positive growth of the city’s human and business population, and its steady and reliable economy, is essential for financing. The residential real estate market has proven to be quite stable in the past several years, which in turn bodes well for the commercial market. Average home values in the residential sector were about $765,500 in 2017, and home values are projected to increase by over three percent in the next year. The residential market, as with the commercial market, is seeing plenty of activity with a healthy influx of homes listed for sale and homes selling in a relatively short period of time.
Brookline Commercial Investment Properties
Opportunity abounds on both sides of the equation (investor and tenant/owner) in the commercial sector. The owner-user structure has been gaining traction in the past several years, and investing partnerships are also popular. A variety of spaces are open for tenants, including warehouses, dedicated office spaces, retail establishments and manufacturing facilities. Vacancies have historically been high in these sectors, but they are starting to fall as spaces are being filled. The traditional economic drivers in Boston, which are the healthcare and medical industries, are still responsible for forming the base of the economy. Additionally, the local economy is experiencing unprecedented growth in the ecommerce and technology sectors, with the advent of ecommerce giants like Amazon and eBay. These companies are searching for space to fill and ship orders in fast period of time to keep up with consumer demand. This makes the Greater Boston area a prime candidate to meet those needs, as there are a number of historic warehouse and industrial buildings that are naturally situated along the area’s main highways and transportation corridors. New development and construction has been virtually nonexistent in and around Boston recently, as prospective owners and tenants are finding that the existing structures can easily be adapted to meet their needs. As evidenced by the fact that there was over 45,000 SF of industrial and commercial space available along Route 128 and Route 495 alone in the third quarter of 2017, investors can see that there is plenty of space available for companies to move in. In the same period of time, vacancy rates were about 10 percent, on average, along those two main corridors. Most spaces available are in the manufacturing sector, but there is opportunity for flexible use buildings too, which are an attractive option for tenants who want to customize their own space. For the first time in 2017, Class B building sales and rentals outperformed Class A sales and rentals, meaning that companies are willing to put in some work to create tailored spaces that they can use for a long period of time, and that will likely allow them the opportunity for expansion in the future. The confidence and willingness of larger commercial clients to set up business in the Greater Boston area, combined with the stability of Boston’s economy, is in turn leading commercial investors to see potential in the area’s development. Investors, therefore, are increasingly willing to finance projects for tenants in the commercial sector.
Brookline Office Space Market
Advertised as supporting everything from traditional medical and scientific offices to suitable for use as a “creative” space, there are many types of offices available to suit the diverse needs of incoming tenants. One can expect to purchase a designated office medical building for about $13,020,000. This provides roughly 15,530 SF of space and gives tenants a visible location and proximity to an affluent local suburb. Tenants looking to buy a sole unit in an office building (rated as Class B) might pay about $760,000. In addition to entire buildings, there are some individual office spaces available for rent as well. Some offices are designated for specific uses, such as medical or banking, while others are left open for flexible use. An office space in this town that is in good condition rents for roughly $3.15 per SF per month. This provides about 5,800 SF of space. One example of an office space for lease is at 29 Harvard Street. The building sits on 0.04 acres of land. It is multi-floor brick building that is set in a scenic location with large windows looking out to Harvard Street. The building features several perks, including hardwood floors and natural light. The building is a Class C building that has negotiable lease terms. It is designated office space with a rental rate of approximately $37.75 per SF per year. As tenants may find with other rentals, they are responsible for paying the cost of utilities for their unit in the building. This building was constructed in 1985, which means that it does not require extensive renovations and remodeling. Pierce Street is located close by. The area is deemed as quite walkable and transit-friendly for those traveling by car.
Brookline Retail Space Market
The retail market is also thriving, as residents and visitors continue to need their basic needs met. Banks, dentist and doctor’s offices and legal offices have historically been, and will continue to be, important components of the local economy. People are also demanding ancillary goods and products such as fitness studios and workout centers, yoga and pilates classes and specialty food stores. The growing population is giving rise to the need for other services too, such as restaurants, bars and taverns. The town has two main retail areas, which are Coolidge Corner and Washington Square. Both are equally attractive and have a distinct collection of small businesses and consumer-friendly shops and establishments. Coolidge Corner is a historic area located at the intersection of Harvard Street and Beacon Street. It is home to some of the town’s most significant historic sites as well. Coolidge Corner was created as a pedestrian-center area, and it retains its pedestrian-friendly layout to this day. This factor alone makes it appealing for retailers and small local businesses who depend on foot traffic to provide a customer base. Both retail areas are frequented by public transportation, which automatically heightens their visibility. Washington Square is situated on Beacon Street. It is about a mile away from Coolidge Corner and has a number of opportunities for patrons to shop and eat. As home to a number of bars, restaurants and boutique clothing shops, these types of businesses are favorable tenants in Washington Square. Several prestigious restaurants call Washington Square home, which in turn boosts the visibility of and traffic to other businesses in the area. Washington Square is a picturesque spot with many historic, beautiful brownstone buildings and Victorian homes. As prospective tenants may find, some of Washington Square’s historic homes are being offered for mixed-use space, which means that they are attracting retailers, who primarily occupy the lower levels of the building, as well as residential tenants. This arrangement is ideal for retailers, as they have the natural traffic flow created by the resident tenants. Washington Square is also the home of the famous Washington Square clock, which is a magnificent 18-foot Victorian clock that sits in the heart of the Square. Tree-lined streets give Washington Square an aesthetic boost, and there are many areas along this stretch of the town where people can stop to enjoy food and beverages at park benches and scenic, landscaped outdoor terraces. The natural draw of Washington Square, and its traditional reputation as being a hot spot in the town for shopping and dining, make it an appealing destination for retailers looking to move into the area.
Retailers will find a healthy combination of retail spaces available for sale and lease, which are available throughout the city. As with the commercial sector, spaces in the retail class category include Class A, Class B, and Class C. Class A properties are among the most visible, and they are generally equipped for specific uses, such as banking and serving food. Class B and Class C properties are typically in less move-in ready condition. They may require some repairs and renovations. The tradeoff for these types of properties is that they are usually in less visible locations and may not be as easy to access by walking or via transportation. However, they usually have a lower sale and rental price, and they can be adapted for specific uses. These properties often have potential for growth and expansion, and landlords are more willing to negotiate on the lease or sale price.
As with the commercial market in general, the retail market here is alive in well. Buildings are being offered for sale and lease on a regular basis. Space is filling up quickly, as retailers are drawn to this town for its proximity to Boston, vibrant population and healthy economy. For a general retail office space, tenants can expect to pay about $2.00 per SF per month. An example of a retail space for lease is a unit on 39 Harvard Street. This building features a prime location in the heart of the downtown village. Bright and modern, the space has high ceilings, natural lighting and exceptional views. Tenants leasing the building will get 1,200 SF in a building with a total size of 3,660 SF. The building is situated in a prime location for walking, as it is part of the busy and heavily trafficked downtown region. The space available in this building is on the second floor, and it can be used for office space as well as retail space. The building was constructed in 1900, but it is advertised as being well-maintained and in move-in ready condition. Tenants are responsible for paying taxes and other service fees. Another example of retail space is a general retail space available in a building at 224 Harvard Street. The building features a full basement, newer walls and recent flooring. It is also equipped with track lighting for aesthetics and safety. The building contains 0.02 acres of space, and the rent is advertised as $3.87 per month. The unit is part of a building that covers 17,080 SF. It is offered in as-is condition. Tenants looking to rent space here will find a space available with 750 SF. The building was constructed in 1923 and is considered to be located in a prime, highly walkable location with convenient access to public transportation. The space is listed as a general retail space with a sub-type of storefront, meaning that it can be used for a variety of purposes depending on the tenant’s needs. The lease for this building has a term of five years, which is not uncommon to find.
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Commercial Property List