Wondered if Massachusetts has commercial real estate at a premium level? Well, there is an increasing demand for offices, retail, and warehouse spaces in several towns, so it is! especially in corridor 128. This location is incredible, giving is close to Boston and the highway access to routes 9,2 and 1.
At the top of the market is 135 Well Ave in Newton's Wells Avenue Office Park. This commercial real estate building is 60,000 sqft destined to office spaces. This commercial gem is set on more than 6 acres of land with space for 160 cars. The property can be bought for $18,000,000.
The 175 Highland Ave property in Needham is a four-story building with the same amount of parking spaces and is 40,000 sqft of office space. This property is offered at $9,650,000.
In addition, a few miles up the road a building in Waltham 85 and 74-88 Linden St. is 10,000 sqft of office space and 20,000 sqft of retail and 5,900 sqft of a warehouse. Parking is abundant since it encompasses 180 lots. The tag price on this property is $8,000.00.
Moreover, to the south, on Dedham, 55 to 59 Allied Dr. offers 23,000 sqft of office space on 2.7 acres of land with 80 parking spaces, the property is offered at $6.4 million. Besides, 35 Highland Circle in Needham is a 22,800 sqft office building with 82 parking spaces, located directly off 128. The price tag on this commercial estate is $6,000,000.
Check out these other commercial properties:
- 145 Wells Ave in Newton/69,000 sqft of office space. - $5.2M.
- 88 Needham St. in Newton/3,800 sqft of retail space.- $4.2M.
- 368-378 Highland Ave. in Needham/ 4,100 sqft residential space and 6,500 sqft of office space. - $2.5M.
- 56 Brook Rd. in Needham/ 4,800 sqft of office space. - $1.5M.
- 450 Lexington St. in Newton/ 2,500 of office space. - $915,000.
Many new retail and office spaces will become available in the near future. Proof of that is the innovation district of Needham and Newton. This project will offer 180,000 sqft of new office space, plus, retail and 800 housing units. It is being built on 23 acres of land, minutes away from corridor 128. This is a move in the right direction since it will relieve pressure on demand for commercial real estate.