November 2019 Market Watch
November 7, 2019
MARKET SUMMARY: Buyers of commercial real estate continue to be very active. Inventory has been low and buyers are more open to making capital improvements to buildings as long as the zoning, height, and land requirements suit their business needs. The US Federal Reserve lowered its benchmark interest rate by a quarter point to 1.5-1.75% in late October (the 3rd rate cut in 3 months). Lower rates, low inventory, and high demand make for the perfect storm for building owners ready to sell.
Asking rents continue to trend upward while vacancy rates decreased along with the unemployment rate. Coming off a very active Q3 season for both office and industrial leases, we are now seeing a slowdown of commercial tenant activity; but that's to be expected in Q4 when businesses are focussed on ramping up sales and less concerned with moving operations to a new location.
If you are in the market to list, buy or lease commercial space, please call Edward Carbone or Vicki Blazejowski at Carbone Commercial Real Estate at 781-935-5444.
Somerville, MA: 3-Parcel Package consisting of a 5-bay Industrial building, 3-bay service/gas station, and a fenced parking lot with a small garage. CLICK HERE for details.
East Boston, MA: 70,000 +/- sf Land / Development Opportunity.
Waltham, MA: 4,211 +/- sf Commercial Garage Condo. Drive-in loading door. CLICK HERE for details.
Woburn, MA: 9,288 +/- sf Commercial Office Building. High traffic location with visibility. CLICK HERE for details.
Woburn, MA: 25,052 +/- sf 3-Building Package. Six-bay retail garage & showroom, office building, and residence. CLICK HERE for details.
Burlington, MA: 24,645 +/- sf Office Building. On 1.3 acres. Zoned: General Business. 100% occupied.
Winchester, MA: 18,000 +/- sf Two Buildings with Contractor Garages. 7 overhead doors. Approx. 30 parking spaces. On 1.57 acres. Zoned: light industrial.
Woburn, MA: 22,400 +/- sf Corner Lot on Montvale Avenue. Three plots zoned Business Neighborhood (B-N). Potential re-development opportunity.
Billerica, MA: 35,661 +/- sf Industrial. On 1.65 acres. Zoned: Industrial. Includes 12,000 +/- sf office. Two loading docks. One ground-level loading door. First floor ceiling: 12'7"-13'3" to joist. Second floor ceiling: 9'5" to joist.
Pelham, NH: 25,820 +/- sf Industrial Manufacturing. 5 minutes from MA border. 16' ceilings. 2 Drive-in doors. 2 Loading doors. On 4.0 acres. 3 phase power. 4 offices, conference, kitchenette.
The CarboneRE monthly Market Watch lists include just a small sample of commercial properties we're aware are on the market for sale in the Woburn and surrounding area. Contact us directly for a property (for sale or lease) search specific to your business.
For a complete list of properties we have listed for sale and lease, visit our Listings at CarboneRE.com.