North Reading, MA Commercial Real Estate for Sale and Lease
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What to Expect
Located about 18 miles north of Boston, this Middlesex County town has a population of just under 15,000. Its business districts include office and retail space, and some manufacturing and industrial space is available most of the time too.
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With a population of 14,892 living on 13.3 square miles of land, this town in Middlesex County, Massachusetts, has an above average density for the area, making it a desirable locale for future developments. The town has prospered for almost four centuries, making it an ideal place for long-term investments. Investors should note that the area has a mixture of historic structures and new developments that make it friendly to new commercial ideas. The town is located only 17 miles from Boston.
Public green spaces include Martins Pond, near which a number of retail establishments have opened up shop, as well as Benevento Memorial Field, Bradford Pond, the Thomson Country Club, Swan Pond, Eisenhaures Pond Park, and Ipswich River Park. The city limits border the Reading Town Forest, which features a large pond.
In terms of transport, the area is crossed by several major thoroughfares, including Route 62 and Route 28. Interstate 93 passes just beyond the city limits, although Route 125, which connects to Interstate 93, crosses a tiny segment of the northwest corner of the city. The MBTA Commuter Rail line does not have a station in town, although there are stations in the neighboring cities.
Due to the recent move of several nationally and internationally recognized companies to the area, commercial lots of land are increasingly rare and highly desired. Investors are advised to continually monitor the listings for this city.
Office Space Market
An entire range of offices exist in this area, from top-tier professional multi-story office parks to quiet, boutique spaces in freestanding structures. The property at 348-350 Park Street is located off Route 28 near the neighboring Bare Meadow nature park, and features an elegant modern aesthetic with a glassed-in entryway and an onsite parking lot. The perimeter of the structure features landscaping, including a pine tree and clipped hedges. The 35,040 square foot structure has numerous suites available for lease, some of which are sized at 500 square feet. Often described as “the most desirable office park in North Reading,” this building has exceptional views of the Ipswich River, as well as operable windows and renovated bathrooms. Built in 1985, the estimated rent for this building is $2.20 a square foot per month.
The complex at 133-135 Main Street is located off Route 28, and features a two story clapboard exterior with display windows on the ground floor and an onsite parking lot. Built in 1966, this 13,000 square foot structure is 3.2 miles from the nearest MBTA Commuter Rail line, and offers suites with an average size of 1,200 square feet. The estimated rent for this space is $1.00 per square foot per month.
Built in 1991, the multi-story building at 400 Riverpark Drive offers top-tier professional office space in an Energy Star rated building. With four floors of often configurable suites, this building features a lushly designed central atrium and reception with an enormous wrap-around staircase and mezzanine. Located in the center of a verdant landscape, the office building overlooks an onsite parking lot and the lake next to the Reading Town Forest. With 150,000 square feet of leasable space, office suites in this building range in size, with suites of 3,822 square feet available. The estimated rent for this property has not been made publicly available.
Retail Space Market
With a number of high profile corporations making this area their home, the retail space market is rapidly developing. Currently, available spaces are typically located in complexes directly off major thoroughfares. The complex at 75 Main Street is located off Route 28, and will be completed in 2019. It will have 10,000 square feet on 3.77 acres of land. The estimated rent for this space has not been disclosed.
The property at 50 Main Street is storefront retail, and has 14,720 square feet of leasable area. Built in 1972, the property has been used as a fast food franchise, but the interior suites can be configured to suit particular tenant needs. With a wrap-around parking lot and landscaped grounds, the complex offers high-end, modern retail space in an accessible area. The estimated rent for this property ranges from $0.75 to $0.94 per square foot per month.
Those seeking space for a much larger enterprise should take note of the property at 97 Main Street, which is located near the intersection of Route 28 and Route 62. With 70,747 square feet of leasable space, this structure is suited for a supermarket or other large retailer. A suite of 31,524 square feet was recently placed on the market for lease. Located 3.5 miles from the nearest MBTA Commuter Rail line, the property was built in 1996 and has been well-maintained. The estimated rent for this property has not been disclosed.
Another supermarket space is available in the 123,000 square foot structure located at 265-277 Main Street, which is located off Route 28. Built in 1969, this retail complex features brick veneer exteriors with full loading capabilities in the rear of the building. Anchored by two large squarish suites on either end of the complex, several much smaller, rectangular suites make up the bulk of the structure. A large onsite parking lot provides easy access from the street, while the rear of the structure abuts a large area of woodland. Suites ranging in size from 2,400 square feet to 5,152 square feet are available for lease. The estimated rent for this property has not been disclosed.
Commercial Development News: Amazon Robotics
Amazon Robotics recently opened a large facility near the city’s border at the Reading Town Forest, just next to Interstate 93. The large structure has created a number of new jobs in a campus like atmosphere. Unsurprisingly, numerous other companies have opened up their businesses near Amazon, creating a new dense sector of town that is primed for new mixed-use development.
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