Finding affordable commercial real estate in the Boston Metro could be easier than you think! While commercial real estate can be notoriously expensive in Boston’s urban core, suburban locations offer plenty of amenities and options for a fraction of the cost. Here are some examples from Boston Bisnow, along with insights from the Jay Nuss Realty Group, LLC!
Since the 1990’s, commercial lease costs have escalated in Boston’s business district, while leasing costs in the suburbs have remained relatively flat. According to a study by Colliers International, this is especially true for Marlborough, Northborough, Southborough and Westborough.
For example, from 1990 to 2005, Boston urban office space leased for about 43% more than comparable space in the suburbs. From the mid-2000s to approximately 2011, the cost difference spread to 59%. Today, the cost difference is about 70%!
But will suburban locales attract Millennial talent? Economists say yes. The Millennial population in the Boston suburbs increased by 27% from 2010 to 2016, while the Millennial population statewide grew by less than 10%. Demographic patterns suggest that as the Millennial generation ages, a growing portion of these adults will seek the suburbs.
The Boston Metro offers many excellent commercial real estate options. Depending on your business needs, locations such as Avon, Braintree, Kingston, Middleboro, Norwood, Pembroke, Plymouth, Quincy, Randolph, Raynham or Weymouth could have what you’re looking for! Public transportation is available in most locations, along with quality amenities. We’ll help you make strategic comparisons for your business!
When you are ready to begin, relocate or expand your business, team up with the Jay Nuss Realty Group, LLC! Whether you are thinking of buying or leasing Boston Metro commercial real estate, we can help you find the ideal property. Contact us today for expert guidance!