Which areas of the greater Boston commercial real estate market are poised to grow?
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We all want to know where the next hot spot will be in the greater Boston commercial real estate market. But how? And how can we identify where those emerging markets will be? today Jeremy takes us through trends in the market and how the urban real estate cycle that's coming to an end will likely be followed by a suburban real estate cycle and which areas to watch. We all want to get the right price for our high-value commercial properties. But it can be difficult to find the right buyer. In this free guide, I share steps to take to avoid doing a bad deal with the wrong buyer, which could end up costing you six to seven figures in sales proceeds. Request your here: https://masscommercialproperties.com/... Which Boston sub-market is most undervalued. Subscribe to our channel for tips to find the right buyer to sell your high-value commercial real estate with confidence. So which sub-market around Boston is most undervalued? Well, in this market cycle we've been in, we've seen urbanization of the market and basically what's happened is employers and population have centralized in the city. That's been great. There's been a phenomenal expansion in Boston. A lot of construction has happened. And the inner burbs, so really still part of kind of the Boston socioeconomic center have also seen that same kind of expansion. As a result of that, we've seen a run-up and values. We've seen a lot of properties turning trading hands. So where does that leave undervalued opportunities? Well, here's where I see it happening. In the suburbs. In fact, it's the suburban belt between 128 and 495 that's where the next area of opportunity is. And the reason why I say that is because the population that's moved into the city has been driven primarily by millennials and retiring baby boomers. The two things that they don't have are households with kids. That's something that's going to change. So millennials are going to start getting married, they're going to start having kids and one of the things they're going to consider is, "Where should we be living in order to provide the type of experiences that we have enjoyed in the city, but are also close enough to work where we can raise a family and enjoy yard, free parking off-street, and still have access or walkability to a nice town center?" Between that 128 and 495 markets in that beltway, the towns that provide amenity basis, like a market street in Linfield or a shoppable walkable downtown like a Winchester or an Andover, those types of towns also have the amenities that are going to attract those folks and access to downtown Boston. The employers are going to stay there, they've made big capital investments to locate in the city. Moving back out to the suburbs is probably going to lag considerably. They'll probably end up following the employees back out to the burbs at some later date. So one of the things that I'd be looking at right now for the next cycle of growth, this will have been the urban cycle. The next cycle we go through will be this suburban expansion cycle. In that suburban expansion, you'll see the towns that I just mentioned, those types of communities, those are going to be the ones really draw and attract people. And when they come out and they start expanding in that market, you want to be positioned to capture that expansion and grow with the demand. These are the communities in Massachusetts and New Hampshire that we serve: Cambridge Waltham Marlborough Framingham Somerville Woburn Billerica Newton Lowell Salem Wilmington Lawrence Natick Portsmouth Peabody Watertown Danvers Malden Burlington Andover Everett Haverhill Bedford Chelmsford Medford Lynn Lexington Beverly Tewksbury Arlington Newburyport Acton North Andover Reading Saugus Hudson Concord Holliston Wakefield Belmont Methuen Derry Gloucester Hopkinton Westford North Reading Winchester Seabrook Seabrook Salisbury Littleton Londonderry Melrose Wayland Amesbury Tyngsboro Ipswich Exeter Hampton Middleton Ayer Stoneham Plaistow Boxborough Windham Dracut North Hampton Rowley Rowley Hampstead Swampscott Epping Epping Chelsea Newmarket Rockport Boxford Groveland Newtonville Waban