Commercial real estate investors are banking on the Boston Metro suburbs, especially with Class-B and Class-C properties. According to a recent article in Boston Bisnow, commercial real estate sales in suburban Class-B and Class-C office space increased by 10% on a year-over-year basis.
Investors are seeking properties that are ripe for upgrading. After acquisition, significant renovations are typically performed, giving the properties expanded functionality, technical upgrades, flexible floor plans and other amenities to make them competitive with Boston’s downtown offices.
Suburban office campuses have the advantages of ample parking and easier commuting, along with proximity to residential housing that is less costly than Boston’s urban neighborhoods. While these are viable selling points to tenants, the biggest draw to Boston Metro suburban office space could be lower leasing costs! Prices per square foot tend to be less than half of comparable space in Kendall Square and Back Bay.
Investors are bullish on the suburban market even as new developments add millions of square feet of office space to downtown. Demand for commercial space in the Boston Metro is robust enough that suburban investors see plenty of opportunity in offering an alternative to high-rise office locations.
The Boston Metro has a variety of options to meet your commercial real estate needs! 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, leasing, or investing in Boston Metro commercial real estate, we can help you find the ideal property.
Contact us today for expert guidance!