Watertown, MA Commercial Real Estate for Sale and Lease

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What to Expect

This town of around 32,000 people is about nine miles west of Boston in Middlesex County. Commercial real estate here varies considerably in terms of price, location, size and other attributes. You can choose from office space, industrial space, retail space and many other options.

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As a part of the Greater Boston area this town has an ideal location for investors. Within this community, investors can find residential and commercial properties in a total of six different neighborhoods. The main neighborhoods for investments are Coolidge Square, the West End, Brigham, Nemis, Watertown Square and East Watertown.

While the fishing industry has died down over the years, there are still alewife and blueback herring available for fishermen. Over the years, investors have flocked to the area for military and industrial projects. The Watertown Arsenal operated in the area from 1816 to 1995. After it shut down, it was cleaned up as a Superfund site in the 1990s. Since the clean up, it has become the site of the Arsenal Project of Watertown. This is one of the two main malls in the town. In 2005, this mall also became the site of the Arsenal Center for the Arts.

This town draws in families and students from across the state because of the Perkins School for the Blind. Originally established in 1829, the school was moved to this town in 1912. In addition, the area around Watertown Square is the site of the biggest collection of Armenian artifacts in the country at the Armenian Library and Museum of America. While the museum and school draw in a larger consumer base, the true commercial center of the town is around Watertown Square.

Investors in the town will find a number of major employers serving the area. These employers bring in a commercial base that has helped the city to thrive. The biggest employers in the town are Harvard Business Publishing, the Perkins School for the Blind, Athena Health, the Tufts Health Plan, Exergen Corporation, Bright Horizons Family Solutions and Sasaki.

Real estate investors can enjoy having an area that is close to major transportation options. Because of the public transportation and major roadways, renters are always interested in moving to the area. This town is bordered by the Massachusetts Turnpike and Soldiers Field Road. In addition, there are trolley routes and MBTA buses in the area.

Thanks to a rise in business and residential construction, this town is on the upswing. Buyers have pushed up real estate prices in their desire to find a commuter-friendly home in a charming environment. Because of this, investors can expect their real estate purchases to increase in value in the coming years. From 2005 to 2015, the median sales price advanced by 19 percent to hit $475,000. While it is cheaper to invest in this area than it is to buy a property in Cambridge or Somerville, the prices are gradually starting to increase.

Office Space Market

For office buildings, residents can check out 65 Grove Street. This property was previously known as the GE Ionics building. Now, the building is a high-0end office space. Renters can enjoy having an on-site parking garage and numerous amenities in the surrounding area.

At 100 Talcott Avenue, residents will find the Arsenal on the Charles. This office redevelopment includes an abundant green space, a unique campus and instant access to Route 129. For 200 years, the site was the location of the United States Army Arsenal. Now, the meticulously landscaped property is a self-contained campus with a large central plaza.

One of the bigger spaces in the area can be found at 9 Galen Street. Run by Colliers International, this building houses the Riverbend Office Park. From many of the offices, residents can view the Charles River. Before it was redesigned as an office building, it was a textile mill building from the turn of the century. It offers an excellent location near Watertown Square and multiple MBTA bus lines. Renters can enjoy having garage parking at the site.

Retail Space Market

One of the biggest retail sites in town is the Arsenal Project of Watertown. Known for its regional art center, this mall is the location of several restaurants, numerous shopping venues and a theater. In addition, residents can find more retail locations at the Watertown Mall. For more traditional shops and a downtown atmosphere, renters can check out the areas in and around Arsenal Street. Many of the new retail shops and businesses focus around this area, so it is a good place to go to find a retail space.

A number of retail spaces are available within the town. While the Elan Watertown may be known for its apartments, it also includes 14,000 square feet of retail space. Meanwhile, 430 Main Street is also available for rent. Previously used as a bank branch, this location has excellent parking and a highly visible location. While it was used as a bank in the past, it is also zoned for medical and office uses.

Located at 550 Arsenal Street, the Watertown Mall is one of the premier sites for retailers. Anchored by Best Buy and Target, it includes tenants like Payless, RMV and Carter's. Placed on 18 acres, this heavily trafficked location has seven spaces available right now.

Real Estate News

New construction in the town tends to focus around Arsenal Street. Back in the middle of the 20th century, the town experienced growth because of the presence of the Arsenal on the Charles and the Hood Rubber Co. Now, the same area has revitalized the town as new companies have moved to Arsenal Street. This area is now the home of the Branch Line's rotisserie and Athena Health. In the coming years, a Marriott hotel is also expected.

This vibrant area has also been the focus of new developments at locations like 192 Pleasant Street. This property will include seven townhouse-style units. Each unit will by 2,400 square feet. Meanwhile, the Watertown Mews were just constructed on 1 Repton Place. The new complex includes 270 units and a bocce-ball court. The units are offered in studio to three-bedroom layouts.

At 321 Arsenal Street, an old bank is getting a complete makeover. The building is being transformed into a 2,800-square-foot restaurant. The restaurant includes a 4,500-square-foot patio. Meanwhile, the Linx building was just divided to create 185,000 square feet of office space. The building's major tenant is Verizon. Another new commercial development in the area is the 100-room hotel at 80 Elm Street.

Because of the popularity of the area, there are a number of apartment complexes in the works. The Bell Watertown sits at 200 Waltham Street. Just finished in 2014, it sits on 11.6 acres. The building includes 155 one-bedroom, two-bedroom and three-bedroom units.

At the intersection of Arsenal Street and Irving Street, residents will find the Elan Watertown. This complex includes 400 residential units as well as an additional 14,000 square feet of retail space. For a different complex, check out the Riverbend at Charles. This 170-unit complex includes studio, one-bedroom and two-bedroom layouts.

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