Insights

Bell Tower Commercial Real Estate Group Insights

The View from the Bell Tower

Fall Preview and Seasonal Trends

by | Sep 10, 2019

It’s the Fall season and time for back to school and work. The new season brings real estate opportunities into focus as well.

Post summer also is the time that people get back to business and the residential and commercial real estate markets heat up again. At Edge, we’re ready to mobilize to help you to lease an office, purchase a property, or to just scope out your game plans for the remainder of the year. Real estate experience pays dividends for buyers and sellers.

The commercial market continues to undergo changes but has been steady to date. Businesses are looking for more value added and amenity rich products. Spaces can be condensed due to the power of technology. Urban is competing well with suburban properties. Residential listings continue to be outpaced by demand.  Some economists and brokers wonder if there is a limit because of affordability factors. Upper end condominiums in Boston are now priced to exceed $1,000 per square foot, meaning a smaller 800 square foot unit would be priced at $800,000!

Residential Sales Statistics

Middlesex County –

  • Sale Prices – Up 1.5%
  • No. of Sales – Up 2.2%
  • Day on Market – 41 days (Up 11%)

Nationally, home sales in July strengthened and are up 2.5%. Year over year sales gains have increased now for an astounding 89 months in a row.

For commercial properties, the Route 3, North market, according to real estate company CBRE, issued also indicated strong activity:

“The Route 3 North submarket drove the leasing activity in the Metro North market this quarter. Several large expansions led to 161,769 positive absorption, the highest amount of growth of any Boston suburban office submarket in Q2 2019. Subsequently, vacancy rate decreased by 290 bps to 23.2%. Moody, Famiglietti & Andronico renewed and expanded at 1 Highwood Drive in Tewksbury. The financial consulting firm now occupies 45,534 sq. ft. of the building along Route 495. WellPet also saw benefits in being situated along Route 495 in Tewksbury and expanded to 35,108 sq. ft. at 200 Ames Pond Drive. Further north, the Route 495 Northeast submarket experienced another quarter of positive absorption and vacancy decreased to 22.1% in the submarket. Along Route 495, Draeger Medical Systems renewed at 6 Technology Drive in Andover. The medical device company will remain in the entire 128,410 sq. ft. building.”

The Greater Lowell market has benefitted from Boston’s affordability challenges and increasing traffic issues. The unsteady  stock market has also directed more investors toward commercial real estate.

The Edge Group, Inc. can assist with your commercial and residential needs. This includes

  • Purchase of commercial and office properties
  • Leasing out of commercial and office properties
  • Development consulting
  • Purchase of a home
  • Listing of a home for sale or rent

Welcome to Fall ’19. We look forward to assisting you with your questions and real estate portfolio.

Recent Insights

A Look at the Real Estate Market at Mid-Year

A Look at the Real Estate Market at Mid-Year

Moving Ahead or Standing Still? Bell Tower CRE Group has enabled this property, 6 Boston Road in Chelmsford, to stay ahead of vacancies by leasing smaller, more affordable offices. As we enter the second half of 2024, where is the real estate market heading? What can...

Meet Jeana DeBenedetto

Meet Jeana DeBenedetto

Jeana DeBenedetto was born in Malden and grew up in Billerica, MA. Her dad worked for the Commonwealth in the Department of Youth Services for more than 40 years. She was inspired by him and the work he did, working with young boys, many of whom faced challenges at...

Our View on the Commercial Real Estate Market for 2024

Our View on the Commercial Real Estate Market for 2024

The combination of the pandemic-induced migration to working from home and higher interest rates has chilled the large office market. Even the recent demands of the Amazon-type warehouse needs have now clashed with interest rate pressures and the high costs of...

Meet Taylor Sands

Meet Taylor Sands

Taylor Sands is a Sales Agent and Property Manager at Bell Tower Commercial Real Estate Group. Taylor grew up in Templeton, MA in Worcester County where he was active in his church singing in the choir and playing the violin. He enjoyed volunteering at the soup...

New Listing: 40 Church Street in Lowell, MA

New Listing: 40 Church Street in Lowell, MA

This new listing for office space for lease is in a great historic building in Lowell, MA with lots of space and lots of natural light! Features of the commercial space available for lease include: Seven offices including an executive office Large conference room Lots...

New Listing: Commercial Office Space for Lease in Lowell, MA

New Listing: Commercial Office Space for Lease in Lowell, MA

This conveniently located commercial space for lease in Lowell, MA is in move-in condition. Located off of Stedman Street at 70 Wilbur Street in Lowell, MA, this second floor office space is attractive, up-to-date and fully finished with furnishings, office systems...

Office suites available for lease in downtown Andover, MA

Office suites available for lease in downtown Andover, MA

63 Park Street is in the center of beautiful downtown Andover, MA. This location is ideal for businesses seeking convenience and accessibility as the building is near both Routes 495 and 93 and is blocks from Route 28. The transformation of this property is well...