Taunton, MA Commercial Real Estate for Sale and Lease

Known for its vibrant community and strong commercial base, this town is only 25 miles west of Plymouth. One of the reason investors love this area is because of its position between an umber of major cities. The town is only 18 miles east of Providence and 40 miles south of Boston. As the seat of the county, it contains a strong population and a vibrant consumer base.

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While the area was the center of the silver industry for decades, the industry has died down in recent years. Interestingly, the silversmiths produced the 1996 Summer Olympics medals as well as the anchor for the USS Constitution. Today, the commercial base is centered around the Myles Standish Industrial Park. Located on the north end of the town, this industrial park is one of the largest in all of New England. The National Weather Service also operates a regional base that serves all of Rhode Island as well as much of Connecticut and Massachusetts. In addition to the National Weather Service, there are a number of other large corporations that are based within the industrial park.

Other than the modern retail shops, there are also more historic sites that companies can choose. In total, the town has nine designated historic districts. These include the Church Green Historic District, the Bay Road Historic District, the Old Bay Road Historic District, the Taunton State Hospital Historic District, the Bristol Courthouse Complex, the Hopewell Mills District, The Reed & Barton Complex and the Taunton Green Historic District.

Investors will find a modern economy that is focused on silicon, semiconductor and electronics manufacturing. In addition, the town is working to bring in biotechnology research companies to the area. Because of its size and location, this town is the home to several corporate headquarters.

Landlords and real estate investors will find a diverse array of architecture. The architecture ranges from the colonial period to modern architectural styles. A number of the homes were built before the American Revolutionary War. In total, there are more than 100 homes listed on the National Register of Historic Places. Historic commercial blocks can also be found at Taunton Green, Main Street and Broadway.

The large homes of past industrialists and wealthy merchants are placed near the city center. These are typically used by residents, but can also be transformed into investment or rental properties. Many of the city's homes include multi-family houses and wood-framed, single-family houses. On the outskirts of the city, investors will find single-family subdivisions that date from the 1950s on.

Other than industrial and high-tech businesses, other employers in the area include the Taunton State Hospital as well as the Morton Hospital and Medical Center. Many of the doctor's offices, insurance offices and health-related businesses are located in and around these areas.

Office Space Market

Residents in the area can find office spaces like 20 Constitution Drive. This office park is only a mile away from Interstate 495. New tenants can build out the space as needed. First-floor and second-floor rentals range from 10,000 to 38,500 square feet. Outfitted with plenty of parking options, the space is also served by an on-site property manager.

Medical-related industries can also discover options like 2007 Bay Street. Available in 2,000 to 30,000 square feet, the complex caters to all types of medical businesses. The first-class medical office is placed on Bay Street. Located only 0.25 miles away from Interstate 485, it is passed by about 35,000 cars a day.

Retail Space Market

The largest shopping mall in the town is the Silver City Galleria. It serves neighboring towns and is known for having a broad range of shops. This two-level mall uses Dick's Sporting Goods and Sears as the main anchors. In total, the mall includes 120 retail shops. It has a food court, a 10-screen cinema and a children's play area. Because of its location at the intersection of two major freeways, it is able to draw in consumers from areas like Bridgewater, Brockton, Somerset, Middleborough and Raynham.

For an alternative retail space, renters can check out sites like 225 Cape Highway. Constructed in just 2004, this property offers 5,600 square feet of rental space. Previously used as a bicycle shop, the space includes polished concrete floors, high ceilings, two bathrooms and multiple offices. It can also be subdivided by the tenant. It is available for rent at an annual price of $13 per square foot.

For a larger retail space, check out 280 Winthrop Street. Originally built in 1968, this property is known as Plaza 44. The anchor space of 75,136 square feet is currently available for rent. Other tenants at Plaza 44 include McDonald's, Ocean State Job Lot and H&R Block. It boasts of common area parking, access to major roadways and pylon signage. Currently, there are five units available for rent.

Real Estate News

Once legal issues are sorted out, the area may receive a new resort and casino complex. Known as the Wampanoag casino complex, this site is still embroiled in territory claims and disputes. In December, the phone lines for the Mashpee Wampanoag Tribe Gaming Authority even closed down. Follow-up calls discovered that the tribe was moving its headquarters. With a recent reprieve from the United States Department of the Interior, there is a chance that the $1 billion project could still take place. The biggest problem is getting the land placed into trust so that it can operate as a casino. Currently, the Mashpee Wampanoag tribe is having difficulties because it was not a recognized tribe when the 1934-era laws were put in place. Despite the legal issues, the tribe is undaunted in transforming the land into a casino complex.

Another new development can be found at the Myles Standish Industrial Park. Originally planned in 2002, the park was designed to transform abandoned industrial sites. The plans called for an additional 50 acres to be transformed into the Life Sciences Business & Technology Park with a section for the Life Science Training & Education Center. It took years to get the funding and approvals for the site. Currently, the park employs 7,400 people at 100 companies. Once the expansion is finished, there will be an additional 2,000 jobs and 1.9 million square feet of development.

In 2017, the city also received $500,000 in supplemental funding from the Brownfields Revolving Loan Fund. The additional money will help the city clean up contaminated brownfield properties. AS the project continues, it will lead to new housing options, recreations spaces and health facilities from the previously abandoned properties.

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