Falmouth, MA Commercial Real Estate for Sale and Lease

Settled in 1660 and incorporated over 200 years later, this Cape Cod town has a long and distinguished history. Once a place dominated by agriculture, salt mines, sheep farms, and maritime activities like shipping and whaling, it is now a prime area for industrial activities. The town is located in Barnstable County, and it is revered for its history of a hard-working class and its proximity to the Cape, which is one of the most popular tourist destinations. As such, the town receives a number of transient visitors during the peak summer months. This makes it a particularly good spot for retailers to set up shop, as they can attract the summer crowds and take advantage of the surge of foot traffic that comes with the peak tourist season.

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The town’s previous industries of sheep farming and military significance necessitated the construction of better highways and rail service, which put it on the map as one of the most strategic and significant transportation centers in Massachusetts. The town today enjoys proximity to Route 28, which extends from Bourne, as well as Route 151, which runs in an east-to-west direction that connects the towns of North Falmouth, Hatchville, and Mashpee.

One of the most significant modes of transportation in the town is the ferry service that operates between Woods Hole, Martha’s Vineyard and Nantucket. There is also a rail service, operated by the Massachusetts Coastal Railroad, that extends rail service to the town of North Falmouth. The town has access to a private airport in East Falmouth, and the closest major airport is located at Boston Logan International Airport. There are also regional airports in nearby Hyannis and in Providence, via the T.F. Green Airport. The proximity to these air transportation centers is significant, as it provides an incentive for businesses to move into the area who rely on air shipments as a primary mode of transportation. This is particularly advantageous for the technology and ecommerce businesses that are starting to call Massachusetts home and need to meet a steady demand from the local population for products to be shipped out on time and in high volumes.

Falmouth Commercial Investment Properties

The town’s burst of activity from transient tourist crowds, along with the influx of financial support from second homeowners and its availability of vacant lands and commercial buildings, make it a prime spot for conducting commercial business. There are many types of office, warehousing, industrial, and flexible use spaces available for sale or rent in the area. Investors looking to finance companies and development projects in the area are noting that there is considerable potential with the availability of open corporate space, both in buildings and in land, and relatively low asking prices. The town has also experienced a general upward trend of residential population growth over the past decade or so, which means that it remains a destination for living and working.

The commercial sector here, as in other areas, comprises many different categories. The industrial and manufacturing sectors are well represented, as are the historically steady sectors of medicine, healthcare, and life sciences. Prospective tenants and renters will find that there are plenty of places set aside for specific uses, primarily medical office buildings, healthcare facilities, and research facilities. While these traditional sectors continue to drive the economy, room is being made for progressive industries like ecommerce and tech companies. For many companies, renting or buying move-in ready Class A buildings, which are the cream of the crop, is favored to a lesser extent than renting or buying Class B and Class C buildings. Class A buildings are fortified with premium accessories like sprinkler systems, security systems and state-of-the-art heating, cooling and energy use systems. Class B and Class C buildings, in contrast, often have more space. That space, which is more flexible, can easily be converted into different uses. Investors are finding quite a bit of potential in financing these types of projects for companies wanting to move into the area and who need to adapt space to their own particular uses. Cheaper prices are generally found in Class B and Class C buildings, although tenants may need to make renovations and building improvements, and they may find that the location and visibility are not as good for buildings in these categories.

Falmouth Office Space Market

The office space market contains a blend of sole-purpose and mixed-use buildings. Office spaces, as with other places, range from single units in office buildings to entire freestanding office buildings, perhaps with the potential to sublet space. Office space in this town may be designated for use as medical, legal, or dental space, or it may be advertised as suitable for mixed-use purposes like office or retail and residential.

One example of an office space potential tenants might find here is the office space available at a relatively new building on Simpson Lane. The price for the lease is listed as $1.33 per SF per month. The office space covers about 3,000 SF, which translates to a size of 0.03 acres. The building features a private parking lot with plenty of parking spaces for employees and clients. The building was constructed in 1987, which means that it is unlikely to need major repairs and renovations in the near future. The listing classifies the building as a Class C structure. The location is considered average, with a somewhat walkable location. Some amount of transit is close to the building, but it is most accessible by car. The structure is a multi-story building with a full second floor available as office space. The building’s other advantages are that it is close to the major highways and downtown area. It is close to a bike path as well. In the building is a modern kitchenette that is fully functional and ready for use. There is also a conference room available for tenants to use. The building is advertised as clean and professionally managed. It also has a pleasant surrounding environment.

Another example of office space that prospective tenants might find is the office space listed for lease on Carlson Lane. This professional office building has two spaces available, which cover a total size between 0.02 acres and 0.07 acres. The building has a total size of 12,655 SF, and it is located in a quiet and picturesque location. Manicured lawns and meticulous landscaping form the backdrop of this lovely office building, which is offered for a lease price of anywhere between $1.25 and $1.56 SF per month. The building was constructed in 1959, and it offers prospective tenants room for growth and expansion. It is listed as a Class C building that may need some improvements and renovations. The building is considered to be in an area that is reliant on cars for transportation, and it is not close to public transit. In addition the usable working space, tenants will receive an additional 250 SF of storage space with their rental. The office building is designated as a general use building that can also be used as warehouse or a shop. It is in good condition with underground utilities and plenty of onsite private parking. The building is zoned for commercial and light industrial use.

Falmouth Retail Space Market

The retail space market in this town is equally as promising as the commercial space market. Retailers can take advantage of several opportunities, which include catering to the transient tourist crowds and meeting the needs of local residents. Restaurants, bars and banks are always in demand from the year-round population, while clothing shops, gift stores, and other boutique retailers cater to the needs of the tourist population.

Retailers will find potential in a mix of buildings located in town and just outside of the town’s center. One type of retail opportunity prospective tenants might find is retail space available on Main Street. The building is advertised for lease for a price of $1.67 per month, which is about average for what retailers might expect to find in this town. The building features a private parking lot with ample parking spaces for employees and patrons. It is a single-story building with large windows and an accessible location. The building is located across the street from the Falmouth Public Library. Tenants will join a building that contains anchor tenants like Advanced Eye, Century 21 and Morgan Stanley. There is also a credit union in the building. The building was constructed in 1994, and it does not require many renovations and improvements as of the listing date. It has a good location, which is rated as “very walkable,” but it is slightly more difficult to reach using transit.

Another example of retail space for least is a freestanding building with about 0.01 acres of space available. There are three spaces open or lease, which asks a price of somewhere between $2.00 and $2.66 per SF each month. The building is located on a picturesque lot on Palmer Ave, and it has three spaces available for use, which means that tenants have the opportunity for growth and expansion. The building was constructed in 1989, and it is listed as having a car-dependent setting with access from some transit.

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