OfficeTenantAdvisors.com (Giles Commercial Realty Group) of Boston, Massachusetts is pleased to announce an Outstanding Boston Office Space for Lease (Sublease) opportunity! This high quality, professional office space is available immediately for consideration by office tenants seeking a tremendous VALUE.

 

 

 

 

 

UNPARRALLELLED LOCATION:

 

Strategically situated in the heart of Downtown Boston, this commercial property is surrounded by nearly every conceivable amenity and service that a business operator could desire, including: Public Transportation (multiple subway lines, commuter rail), Highway Access, Parking, Fast Food (good food fast), Fine Restaurants, Casual Dining, Hotels, Fitness, Medical care, …, the list goes on and on.

 

The subject property, a meticulously maintained commercial office building containing Boston office space for lease, is centrally located within a quick walk of such iconic Boston landmarks as North Station, Faneuil Hall Marketplace (a.k.a. Quincy Market), the newly finished Rose Kennedy Greenway, Boston’s historic North End, Boston Garden (arena), Government Center Plaza, Mass General Hospital, the Waterfront, …

 

 

Located in the Heart of Downtown Boston

 

 

MOTIVATED CLIENT:

 

This Boston Office Space for Lease (sublease) is nearly new, finished less than a year ago to house a new Boston regional office for our out-of-state corporate client. The client originally selected this downtown Boston location in order to service one of their major customer accounts. During the ensuing months since opening, our client has determined that it would actually be more advantageous for them to be located closer to one of their customer’s other Boston area facilities. So we have now begun the process of securing a new tenant (subtenant) for my client’s downtown Boston office and relocating them to the suburbs.

 

 

 

 

 

THE PREMISES:

 

Comprising an entire upper floor of a classic mid-rise Boston office building, this attractive office space features:

 

• Windows on 3 sides (custom operable, double pane glass)

 

• Highly desirable, Full floor identity with direct elevator entry (securable)

 

• Entry vestibule/waiting area (separate from main office area)

 

• Reception station (with sliding glass window)

 

• Private offices on the windowline

 

• Open area for workstations/cubicles

 

• Large conference room

 

• Kitchenette

 

• Copy/fax/file room

 

• Storage

 

• Tel/data IT room

 

• Private restrooms

 

• The office space is flexible enough to accommodate a range of office uses from 12-30 workers

 

• The building also boasts newly renovated lobby, elevator and façade

 

 

 

CURRENT OPPORTUNITIES FOR COMMERCIAL TENANTS and BUYERS:

 

Prior to the recession, the market for Boston office office space for lease had very low vacancy and was nearing record rent levels for select office properties. So the market had a long way to fall. But the truth is, it didn’t fall THAT far, RELATIVELY SPEAKING. Boston's commercial real estate market has not experienced the drastic decline that many other markets across the country saw during the recession (or the flood of distressed properties), but there was indeed a marked uptick in vacancy and corresponding reduction in rent levels. When compared to conditions for tenants at the peak of the market, this was definitely good news for companies using commercial real estate to house their business operations.

 

Most commercial real estate prognosticators are of the opinion that we hit bottom sometime during mid 2009 and had been bouncing along the bottom through the end of the year. Increased leasing activity and renewed investment sales activity during the first half of 2010 would seem to bear that hypothesis out.

 

For tenants who wish to continue leasing their Greater Boston office space commercial real estate, there is presently opportunity to take advantage of sublease situations as described above, or make a flight to quality (better property/space for same or less rent than paying now), or, to be proactive with your existing lease by lowering your current rent and locking in an attractive rate for the future (blend/extend).

 

For other companies, or business owners / executives, that have an interest in purchasing commercial property to house their business operations (typically well established, financially stable business, with static, or predictable employee headcount), this is a fantastic time to take advantage of not only reduced asking prices, but also some of the lowest financing rates in history, through the SBA 504 loan program.

 

In addition to a lower, long-term fixed interest rate, the SBA 504 loan program allows the buyer to finance up to 90% of the Total Project Cost. Total Project Cost can include renovation expense (customizing the property for your needs) and equipment can be rolled into the loan as well. This is substantially different from conventional "owner occupied" financing that would typically be based on 75% to 85% of the property's appraised value at acquisition. Here is a terrific resource for SBA 504 loan information: 90% Loan-to-Cost Commercial Property Financing for Small Business Owners and Entrepreneurs.

 

THIS SUBLEASE OPPORTUNITY:

 

This is the kickoff of a hyper-aggressive marketing campaign for this office space sublease opportunity.

 

With the combination of attributes described above, an improving market and a highly motivated Sublessor, this opportunity will not last long.

 

If you would like to learn more about this Boston Office Space for Lease (sublease), or, discuss your company’s real estate position, or just ask a question about office space and commercial real estate in Boston, please contact me. I look forward to speaking with you soon!

 

Mike Giles

 

617-502-0101

 

mike(at)gilescommercial.com