Easton, MA Commercial Real Estate for Sale and Lease

Located in Bristol County, this charming Massachusetts town was settled in the late 1600s and officially incorporate in 1725. It is home to just over 23,000 people as of the 2010 census. It is part of the Greater Boston metropolitan area. With easy access to Boston’s city center, this town is on the map for people who want to live outside of the city but have an easy commute to their jobs.

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The town was once home to Ames Shovel Works, which was a premier provider of the shovels used to lay the Union Pacific Railroad. Although the shovel manufacturing building has since fallen out of use, the industrial spirit of the town’s older days remains alive and well. Today, the home is a hotspot for growth and development with connections to Boston. It is serviced by I-495, which is one of the main traffic corridors in the Greater Boston region. This prime center for growth lies just south of the town’s borders. Other main transportation arteries are Route 123, Route 106 and Route 138. These corridors have been, and will be, instrumental in supporting the growth of ecommerce and tech companies moving into the area.

Easton Commercial Investment Properties

In the commercial sector, the supply of buildings sitting vacant and ready to be repurposed and revitalized blends harmoniously with the need for such spaces by companies of all sizes and disciplines. With its promising population growth, the availability of such spaces and proximity to Boston, this town fits the bill for commercial potential.

Businesses of all sizes and varieties are finding premier potential in this town, which has a mix of buildings, office spaces, and warehouses. In 2016, for the first time ever, sales and rentals of Class B buildings outpaced sales and rentals of Class A buildings. This is likely to be a continued trend as rental rates continue to rise. In 2016, rates started to climb, and they were 10 percent higher in 2017 than the year before. This is promising news for investors, who want to see an increased demand for space and a willingness of companies to invest in improving a space that they can use for years to come.

Another major asset for this town’s commercial sector is the proximity to I- 495. I-495 contains a healthy mix of industrial and commercial buildings in the three classes of Class A, Class B, and Class C. Across all sectors, there was over 33 million SF of space available for commercial tenants along the southern portion of I-495 in the third quarter of 2017. This breaks down to just under 2.5 million SF of direct space available and nearly 240,000 SF of sublease space available. There was an eight percent vacancy rate and a third quarter 2017 absorption rate of 508,260. The year to date absorption rate in the third quarter of 2017 was about 850,000 SF.

Easton Office Space Market

In this town, there are plenty of opportunities for companies needing office spaces to move into the area. In keeping with Boston tradition, the local economy is still driven by traditional areas of healthcare, life sciences, academia and banking. These professional services are expected to remain a pillar of the Boston economy in the coming years. However, the economy is also seeing the arrival of technology and ecommerce companies. In the last quarter of 2017, there was over 102,000 SF of positive absorption around Boston. Vacancies in office spaces fell by over 10 percent, and rents increased by roughly three percent. For investors and prospective tenants, now is the time to act to get on board with good deals before rates rise even more and space becomes more competitive. For commercial tenants, both vacant land and existing structures are ripe with potential for use.

Prospective tenants can find a space to lease in an office building in the picturesque downtown region for a price of about $0.50 per SF per month. An example of such a building is the commercial building at 50 Oliver Street. This contemporary brick building offers tenants a space of about 0.02 acres. The building covers a size of just under 62,000 SF. It is a modern and accessible building that was constructed in 1925. The space advertised for tenants is on the second floor, which provides a lovely view. The building is a Class C building, and the location is considered to be car-dependent.

Easton Retail Space Market

Equally promising, the retail market sector in this town is poised to accommodate businesses of all varieties and sizes. In 2017, there was about an eight percent increase since 2016 in the amount of retail space rented out in the Greater Boston area, which means that retailers are looking to move into the suburbs and conduct business. The market is favorable to retailers of all kinds, but there is a particular influx of businesses offering consumer services like fitness, shopping, and dining. Bars and pubs continue to call the town home, and there remains a steady need for banks, lawyers, and medical professionals.

An example of a retail space that prospective tenants may find is a general retail building on Washington Street. The building is zoned as Class C. It is offered for a price of $495,000 and is a mixed-use building suitable for retail and residential use. The property, which resides in a historic Victorian home, has an open first floor plan for office space. The upper second level can be used as a residence. The building is considered suitable for multi-family use. There is space of just over 3,000 SF, and the building has a lot size of about 0.21 acres. It was constructed in 1900 and offers private parking, with a ratio of about eight parking spots per every 1,000 SF. The building is a prime opportunity for retailers considering potential growth and expansion in the future, as it has plenty of space that can easily be customized and adapted to a client’s specific use.

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Commercial Property List