Wrentham, MA Commercial Real Estate for Sale and Lease

As of 2010, this town in Norfolk County was home to about 11,000 residents. The town was incorporated in 1673, and it is serviced by several critical transportation corridors, including Route 1, I-95 and I-495. From the town, it takes about 45 minutes to reach Boston. The town was once a primarily agricultural area, but it has since evolved to become a key commercial center. There are several large shopping plazas in the area, and the area holds plenty of potential for businesses, as it has a combination of land, which is a rarity closer to Boston, and a mixture of large warehouse buildings, professional office parks, and busy retail centers. The town is served by the Greater Attleboro Taunton Regional Transit Authority.

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Wrentham Commercial Investment Properties

With easy access to several major thoroughfares and the city of Boston, this town has opportunities for businesses of all varieties. It is also serviced by several of the region’s largest and busiest roadways, which contain some of the highest volumes of spacious buildings. As with other areas outside of Boston, another point of appeal in this city is the fact that in the present market there is a fairly large volume of space available to buy and rent, but the prices are lower than the average rates closer to Boston. Vacancy rates in the area are falling across all commercial sectors, but tenants are still being selective about building size, location, and amenities. Requests for Class B buildings is outpacing demand for Class A buildings, which is a shift from the past few years' market trends. This trend is expected to continue as tenants continue to find that Class B buildings give them the space that they need to expand in the future, and that they can do without many of the amenities found in Class A buildings. Class A buildings, however, are still popular with some of the region’s oldest economic sectors, such as medical professionals and financial services, who are most likely to benefit from having top-notch space that is appealing to their high volume of client traffic.

During 2017, a mix of warehousing, manufacturing, flexible use, and high bay buildings were what prospective tenants found available on the market. Warehouse buildings held about 43 percent of the market in 2017, followed by flexible use buildings at 21 percent and high bay and manufacturing buildings, which comprised about 18 percent of the market each. Across all commercial activities, tenants were searching for space that offered an average amount of six million SF. An encouraging trend for investors is that tenants were looking to acquire Class B spaces, with the intent of making improvements and having the option to expand their operations in the coming years. A large volume of commercial activity was centered around Route 495, which had some of the highest volumes of commercial space available across all sectors. The northern portion along Route 495 had about 20,400,000 SF of supply space in the third part of last year, which broke down into a little less than 4.9 million SF of direct space. About 234,000 SF was open for subleasing. At 24.9 percent, vacancy rates were highest along this corridor. The western part of Route 495 had 21,105,000 SF of supply space and about 3.84 million SF of direct space. Roughly 663,000 SF was available for subleasing, and vacancy rates along this corridor were just below 20 percent. The lower corridor of Route 495 had 3,221,000 SF of supply space and 752,055 SF of direct space. Just under 8,000 SF was open for subleasing, and there was a 23.6 percent vacancy rate.

Wrentham Office Space Market

Tenants looking for suitable office space in this town will find a number of diverse options. Office space is available in a combination of Class A and less luxurious Class B buildings. Some office spaces are available in buildings designed for specific uses, such as medical and banking. Other office spaces are appearing in flexible use buildings, which is an increasingly common trend. Prices for Class B buildings are generally lower than for Class A buildings, which adds to their appeal for many tenants. It is also usually less expensive for tenants to occupy the lower floors of buildings than it is to rent the higher floors. A number of factors influence the rental prices of commercial buildings in this town, but an average price for an office space is about $1.15 per SF each month.

Those looking to occupy move-in ready office space might be interested in an opportunity like a 21,000 SF office building on Stonewall Blvd. This building has about 0.07 acres available for tenants, and the space is listed at a price of $1.21 per SF each month. The office building is a prominent and modern building located in Stonewall Park. It covers about 3,000 SF of space, and it can be used for a variety of purposes, but it is particularly well-suited for use as medical space. The building was finished in the mid-1980s, and it is equipped with a large central reception room and four offices with large windows. Two bonus rooms can also be used as offices, conference and meeting rooms, or as open workspace areas. There is also a generously-sized storage room and a small kitchen for staff and visitors to use. The space features two private bathrooms. Other standout amenities of the building are high ceilings, heat and central air conditioning. The building also has a large paved lot with many spaces for the building’s occupants and visitors.

Wrentham Retail Space Market

Retailers looking to move into the town will be equally well-served by the variety of spaces available. Space is available for sale and rent in a variety of spaces, including freestanding buildings and in small shops in the downtown area. Some retail spaces are also open in the larger strip malls and shopping centers in the area.

Retail tenants looking for visibility and location might be interested in the opportunity to join a large existing building, such as the general retail building at 730 Madison St. The building has 12 separate spaces available that offer tenants anywhere from 0.02 acres to 0.11 acres of space. The building is about 25,675 SF in size. It is offered for lease, but the rental price is not disclosed. Tenants have the opportunity to acquire about 19,810 SF of general retail space. There is also about 5,000 SF of space that is designated as ideal restaurant space. One of the main highlights of the building is the important factor that it is located in a center that has several large anchor tenants, including Sleepy’s, Lowe’s, Target, and Starbucks. The building is also situated near several large luxury hotels. Proximity to a large apartment complex brings the potential for visibility and potentially high volumes of foot and car traffic. Construction is underway on the building, and development of the expansive site is expected to be complete in 2019. Tenants looking to rent space in the building have a considerable amount of flexibility, as they can choose to directly occupy the space or sublease space that they do not need to use. This property is a good opportunity for business growth and development, and it is a highly attractive opportunity for investors as well.

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