You don’t have to look too far to find available commercial space for large, mid-sized or small business around Massachusetts. Just drive along route 128 or the I-495 corridor and you will see the signs for available space. Ranging from lab facilities to ready-to-go managed office space, tenants have choices and power.
Look into Cummings Properties, a well known commercial landlord in Massachusetts. Find out their vacancy rates today and compare them to prior years’ rates. How do rents per square foot and size per tenant vary depending on location and type of space (labs vs. ready-to-go office space, etc)? What kind of opportunities does this market offer commercial tenants? And therefore, what kind of promotional strategies can commercial landlords use to attract and/or retain tenants?
There is space avaialble for many types of business in the commercial properties owned by Cummings Properties. A search of their web site shows the many different oppurtunties for a businees to lease space.
According to their web site they are “86% ful”l at this time.
Some examples of space avaialble in their Beverly site is “large office space with free design service, space planning and construction included in the rent of $18.95 per sq ft for space ranging from 55,134 to 90,372 sq ft, small office space of 221 sq ft would cost $259 per month and includes utitilies”. In the Woburn site their is a “contractors special of 15,557 sq ft of open warehouse with drive in door for $12.95 per sq ft or a full lab perfect for a proteomics lab for $24.95 per sq ft”. While in Medford a ” full built out lab space of 16,025 sq ft cost $29.95 per sq ft”.
The opportunites for a businees to lease in this market are free utitilies for small business to full build out and help with design and construction for large companies and labs saving both time and money in setting up.
Cummings Properties is promoting their space with location, transportation corridors, restaurants and other amenities to attract potential clients and to retain existing clients.
Cummings Properties has leasing spaces ranging from as small as 200 sq. feet and as big as 130,000 sq. ft ( Thermo Fisher Scientific is the tenant of the biggest office space) and prices ranging from as little as $4.98/sq. ft. to as much as $45/sq. ft.(They mostly charge more per squared feet depending on the LOCATION and the type of space needed). There are many factors effecting the rates of renting like if it’s a $5 per sq. ft. little office space, its not going to have the same features as one that costs $30 per sq. ft. like tall ceilings, large windows, location that benefits your intentions, and just more office space in general. Also, the more expensive spaces are those that NEED more “special” accommodations like laboratories for example. They need “scientific” things like fume hoods, a controllable air system, a vast amount of sinks, and incubators, where as in an office space all you need are walls and a door, MAYBE a window. This property management company provides tenants with the location that they need like having facilities next to highways so it could attract consumers and make it easy to commute to and from by building the facilities close to the MBTA. Much like the new Tradecenter on Route 128 that is said to be “the most visible and architectural building on I-95″. Cummings brings a lot of benefits to tenants by adding things like building insurance, real estate taxes, landscaping, free parking, and SNOW REMOVAL all to the base rent. One thing that i found interesting is that Cummings charges small business renters a “standard of living increase” annually. Im not sure if this cost applies to all renters but it’s quite a significant “increase” of 10% in the year 2008/2009 and it was said that it will go to 14% in 2010(According to a prior costumer of Cummings).
After checking out the price ranges for many of the different Cumming’s Properties two qualities about each of the properties stood out to me: location and potential use for the property (lab or office space). Lab space tended to be much more expensive per square foot than office space and buildings that were located directly off a highway, as was the Tradercenter 128 which is advertised on their home page, also tend to be of more value. With all these properties on the market I would argue that the potential tenant has an incredible amount of bargaining power whether it be dealing with the price per square foot, utility cost or employee parking. Cumming’s Properties seems to take great pride in providing state of the art, easily accessible buildings for the tenants with plenty of locations and that’s what it will take in an economy like this to retain tenants. If a company can afford to buy this commercial space they will want the best and Cummings provides that.
As of the moment the Cummings Property on 128 is letting business rent space for $24 per. sf. for tenants wanting 30,000 sf.or over, any amount of below 30,000 sf. will be a fixed rate at $28. I discovered through the FHO partners group, Woburn posted 40,000 sf. of net increase absorption, from the inventory of mid year harnessing the rates from 19.0 to 18.6%, and retrieving more facts i was shown that rt. 128 had difficult with its starting posting a negative net absorption of 682,000 sf. in its last 2 quarters making vacancy rate as high as 19.5%. This landlord rental service can help the benefits to small companies in a wide span, the property on 128 has a variety of food services and comes with a car parking area meeting all five floors. Strategies the service can do to keep or maintain happy tenants is its motivation to set foot for accomidations and the way they place there service it’s service with automatic paid utilities, I noticed little things such as a parking area or full serivce food venues can help generate more tenants in a business environment.
I couldn’t find the exact vacancy rates for Cummings Properties the past few years besides treading around 18 percent this current year, but according to bnet dot com vacancy rates follow unemployment rates, so I assume that it has been rising with the unemployment rate the past couple years. At the Cummings Center in Beverly, lab space is more expensive than office space. It also looks like lab space seem to get more and more expensive the closer you get to Boston with the cheapest rates in Beverly, and the most expensive rates in Medford. In Woburn there seems to be an even bigger gap between cost of lab space and cost of office space. All this information is according to Cummings Properties website. This makes it seem like right now would be the time to buy office and warehouse space. Some of the promotion strategies that Cummings Properties is using is trying to show off is their free parking, less expensive and more green power, the various amenities, the special tax advantages, and the location and proximity to other places of interest.
In today’s tough economic times it is no wonder commerical properties are a dime a dozen. who really wants to risk opening a business when all they hear about is business after businesses closing. Even with that said the owners of commercial property s have to do something to make a potential customer want to rent their place. A good idea would be to give an incentive’s to the customer, for instance the first months rent have price or free electricity for the first month. I was un able to find the going rate for the Beverly Cummings center but they to like everyone else has a lot of property for rent. A good incentive could go a long way in helping a potential buyer decide o what property to rent or where to rent.
The Cummings Properties , a Massachusetts based landlord for a variety of different business’ has managed to keep vacancy rates rather low in a time of recession. According to the Cummings Property website they are now at 86% occupancy and while I could not find information on 2009 occupancy rates I found an article written in The Real Reporter in July of 09 which states the 128 Trade center was at 60% capacity. This was considered high according to the article and since then it has only gone up. This is due to the variety of different spaces available for an assortment of business’ as well as the promotional packages they offer. Currently they offer things such as insurance , snow removal , and real estate taxes all included with your lease which not only saves the business money but time as well. The variety of leases Cummings offers makes it hard for other property managers to compete as they can range from a little 162 square foot suite to a massive state of the art energy efficient 300,000 square foot office that can service even the largest of business’. It’s this variety of packages that keeps Cummings Properties successful even in the worst of times.
The Cummings Center is a gigantic for lease office building, whose tenants range from restaurants, to corporate offices, to biotech labs. Due to this diverse selection of availability, Cummings has a wide target consumer base. The prices, based on square footage, varies depending on the luxury and intended use of the space. The cheapest being freight & storage, then office space, retail and bio labs on an increased expense scale. This large building housing many companies can create an easy to access facility and easier integration for affiliated companies.
Cummings Park Properties have a number of great locations. They have been around since 1969 and have a lot to offer its tenants. Some locations have on-site ammenities, for example, restaurants, banks, cleaners, free garage parking, post office, Dunkin Donuts, and day care. I also read about the different types of space available, for example, warehouse type of space, office space, and lab space. They have one-story and two-story space available. Cummings Park offers a wide variety of different rental space. I also found that depending on your location the leasing prices are different. For example, in Medford its about $29.95 per sq. ft. for 16,025 sq. feet and in Beverly its about $14.95 per sq. ft. for 14,629 sq. feet. The fees are based on location, the closer you are to Boston the higher it is. I think in this economy no matter where you go, you see a lot of space available for rent. It is very hard to open a business right now with the economy the way it is so therefore, a lot of places are available for rent. Personally, I think Cummings Park properties are well known. I see them everywhere. I would feel very comfortable renting or leasing from them because they are a well known company, they have been around for a long time, and have great locations. I also think their properties are very well maintained. From reading about Cummings Park different locations and ammenities, I think they are doing all the right things in keeping their old tenants and trying to appeal to new tenants.
In this economy I personally would think renting an office or lab space would be very difficult. The Cummings Property seems to have no problem renting out office space because they have 86% of there space already used. An annual base rent begins at 7.70 per square foot on a triple net basic (cummings.com). Cummings also provides special rates, programs, and customized suites to give a growing business a head start (cummings.com). A stradegy Cummings properties already use is by broadcasting the fact that they are already 86% full. This is a very high percentage and it shows how well there company is especially in this economy. They could also propose a new idea that when renting an office, electricity is included. Cummings properties already seems to have a great reputation and a large clientle.
In this economy most business are not willing to take the risk to buy a building for their company, so then they rent, which is good for a commercial landlord such as Cummings Properties that rent out their properties to business’. They have annual base rates that begin at $7.70 per square foot. Offering properties for lease in more then ten cities it gives business owners the opportunity to be able to move from facility to facility and not having to be tied down to one place, this is possible because they offer storage space, labs, and office buildings for rent in all of these places. And all of there spaces are located in highly visible areas and this will help promote a company if they are trying to get customers attention or if it is a lab they are renting it comes equipped with some of the materials they need.
I recently worked at an office in the Beverly Cummings Center which is absolute beautiful building, there are many accommodations for business owners, and rising businesses to flourish there, price’s are measured by each square foot and some of the better one’s can get quite expensive. As we know in our class alot of starting business often fail, so for a fail safe bet renting at the Cummings Center is a good opportunity, location is everything and no business wants to be located in the middle of the woods.
Cummings properties is a well run business and it shows with how they charge. Prices vary with different variables for example location, size and other necessities for different businesses like if a certain business needs a space with bigger windows or a different type of ventilation. Their prices range from $5 per square foot up to $45 per square foot depending on the variables i just mentioned. This company offers tenants with locations they need to help better their business like one near a highway or near a place that has alot of consumer traffic. One thing that Cummings Properties does that really stood out to me was the benefits they give to the tenants which are snow removal, building insurance, real estate taxes, landscaping and free parking, adding these types of things makes people choose their business over their competitiors.
In this Economy more and more businesses are starting to lease and rent business properties because it it less risky than owning or buying space. Cummings Properties is a well known commercial landlord company that rents out office space, lab space, and factory space. Businesses in the Boston area for office, research, lab, or any other commercial space Cummings Properties offers space from up to “10 million square feet in increments from 200 square feet to 200, 000 square feet”. Cummings Properties advertises properties for lease along route-128 and route-95. The annual base rents start at $7.70 per square foot. Cummings properties offer design services and planning services free of charge from their in-house architecture department with the lease of any space. “The process of leasing any size affordable office, research, or production space is typically one of the most important decisions that firms have to make”.
In 1969, Cummings Properties began in Woburn, MA, and now owns commercial space in Beverly, Burlington, Marlborough, Medford, Somerville, Stoneham, Sudbury, Wakefield, and Wilmington. Cummings Properties annual base rents begin at $7.70 per sq. foot on a triple net basis, but rates depend on the location and size of the space. All rates typically include building insurance, abundant free parking, base real estate taxes, full maintenance, snow removal, landscaping, etc. The Rates for current available space (or space that will be available in six months) are laboratory space in Beverly, Medford, and Woburn which ranges from $14.95 to $32.95 per sq. foot. Office space in Woburn, Beverly, and Medford which ranges from $4.95 to $24 per sq. foot. Warehouse space in Wilmington, Beverly, Woburn, and Stoneham which ranges from $6.95 to $16.95 per sq. foot. Strategies that Cummings Properties already uses to attract and/or retain tenants is that their commercial real estate portfolio consists of eighty two large or very large buildings, which most have easy access to highways, amenities, and services. Another strategy is the fact that their firm owns, leases, and operates more than nine million sq. feet and currently serves more than 1,800 business and professional tenants. According to BUILDINGS Magazine, Cummings Properties ranked among the top twenty five commercial real estate firms in the nation. Judging on this information and by the business they already have, it seems to me that Cummings Properties knows what they’re doing and does it very well.
*All information was found on cummings.com
Cummings Properties is a very sucessful commercial real estate business with a vacancy rate of approximately 18.6%, according to their website. They offer a variety of different spaces, from bargain office suites and restaurants to large laboratories. Cummings heavily advertises their laboratory spaces and makes sure to note that they lease to many prominant technology and scientific companies in Massachusetts. While the laboratories tend to cost the most, they do offer some very affordable small office suites. One single room office in the Bevery Cummings Center advertised was going for $395/month. By offering both expensive laboratories and cheap small office spaces, Cummings is able to attract both large high spending companies and small entrepenuers. This gives them a wide range of potential customers.
Cummings Properties is a very well known and respected real estate firm in Massachusetts. They offer a wide amount of options, such as research lab space, large tenant occupied apartment complexes, office buildings, vacant warehouses, and land for development. As of 2010 they are 86% leased. 200 square foot offices with utilities are being rented for as low as 299$ a month. Full-service leases include custom build out, common area maintenance andcleaning, landscaping, parking, snow plowing,and property management services. As of 2010 they are 86% leased. Base rents start as low as 7$ a square foot, based on location and the amenities the tenants wish to include. Ready to go offices include as little or as many options as wanted, such as video conferencing, cafeteria, telephones and conference rooms. The flexibility is very appealing to businesses who want a low start up cost without spending all of their first year profits on these basic office needs. Most of the office spaces are right on 128, 93, or within traveling distance of Boston or a close highway. This is an excellent selling point for landlords because everyone loves an easy commute to and from work.
The Cummings location that I choose was Trade Center 128 . Which is located in Woburn this is a whole community within the office park, they offer a wide range of amenties and services, also a very energy efficient building. Cummings is offering a special for there buildings in Beverly, Woburn and burlington. This deal can be a great opportunity for a new start up business or a small office as they are charging only $299- this includes all the standard expenses including utilities for 200 square foot office. This must be a good time to rent as there are many vacancies in the market , this allows the tenants to negotiate with the landlords for a better rate and more services.
The Cummings Properties rates in 2010 range from $4.95 to $45.00 per square foot. There are many office, lab, and restaurant spaces available. Restaurant and lab locations are the most expensive to buy, while large business spaces are more reasonably priced. Small business spaces are the cheapest. There are many perks for commercial tenants, such as water side offices, open air balconies, free design consultations, and construction is included. I think these are great opportunities for small business or work at home owners to have a professional space to call an office, and the Cummings Properties provides many opportunites and perks to sell their office space to good clients.
The Cummings Properties are located in ten separate locations and hundreds of known companies have or are currently leasing out space such as Dunkin’ Donuts’, U.S. Census Bureau and Specialized Carriers. The rent per square foot and size per tenant can be determined by a company’s need of where they would like to be located by choosing one of the ten locations that the Cummings Properties has to offer and if the tenant feels that their product or service can offer parking, easy access by driving to and from and a good leasing price. In this market place this market offers commercial tenants many leasing opportunities because of the market being down the drain not many companies are leasing and this would open up opportunities to many tenants who are willing to pay a lease at a good rate and at a good location. Commercial landlords can offer new and existing tenants lower leasing prices or keeping their leasing price the same and give them one month free of no cost; they could also advertise the commercial property on T.V., radio, and newspaper and show the other existing tenants so companies would lease a particular building out. In the end, I would only lease a property if the other tenants had a lot of business come through each day and then that way they would take advantage of my product or service also, the access from the road would have to be easy for customers to get to and I would want the parking to be free or low in cost (Cummings Properties).
Compared to last year’s rates, there is definitely a decrease in the vacancy rates. However, according to Cummings CEO and president Dennis Clarke, he calls “the low vacancy rate a “healthy situation,” and attributed it to the firm’s focus on its niche, small, entrepreneurial companies. I definitely agree with this because I feel that Commerce Properties would have more business with selling smaller firms. The smaller the amout of square feet, the smaller the cost for the buyer. According to the Cummings website, “Annual base rents begin at only $7.70 per square foot on a triple net basis.” Since this rate is so low to them, they feel they can gain a lot more revenue than the previous years. Ready-to-go office space is indeed more sellable than lab spaces. People like convenience, so why not buy property that is all ready to go? This business can do several things to attract tennants such as advertising great locations that would bring in lots of revenue for these small businesses. They could also advertise their lost cost for their rent or purshasing per square foot.
The vacancy rate of Cummings Properties is currently around 18.6 percent, which is lower than it has been in recent years, this may be due to the slowly strengthening economy. This market offers its commercial tenants a place to conduct their businesses; whether it is in an industrial park or a restaurant in a shopping plaza their services are a great convenience for companies looking for a commercial space to run their business. One way Cummings Properties can attract tenants is to advertise on their vacant buildings, this is a great way to make people aware of their buildings and it is free which is a big plus. A good way to retain tenants is to offer incentives like little discounts. Since the vacancy rate in going down, they could offer discounts to companies who have stayed with them through the rough times; this would build great landlord/tenant relationships and would ensure that people don’t leave when their leases run out.
Cummings Properties has had a low vacancy rate compared to previous years, around 18%. The commercial property spaces are mostly used for office or lab purposes. The prices depend on square feet and location, and being closer to Boston is more expensive. It seems that Cummings seems to be doing fine despite the hard times that people are going through in this economy. If they needed to, they could advertise their properties and the businesses of their tenants to bring in even more business. Cummings Properties will be able to keep their tenants and attract new ones by keeping their good reputation and prices low.
Cummings Properties is currently 86% leased with a large list of clients of all types. They offer different types of commercial space such as labs, offices and warehouses. Although labs cost more than the offices or warehouses, location is an important factor. The corner spaces with nice views and convenient locations for businesses also cost more to rent. Commercial landlords can have specials for new tenants or discounts for loyal customers
Cummings Properties vacancy rates from 10 million squae foot to 200,000 million square foot. For multiple options spaces and many different configuration in Woburn, Wilmington, and Beverly, the lowest cost is $6.95 per square foot. For major restaurant location their vacancy rates is $45.00 per square foot. The opportunities this market offer commerical tenants is flexible lease terms with full service lease rates, and convient for transportation and traveling. The promotional strategies commercial landlords use to attract or retain tenants is a one shot shopping center so they don’t have to travel an further.
After doing my research on the Cumming center as an example of Cummings property, I found many relevant facts of what the building was and how it became so successful. The Cummings firm sat blueprints for the new revolutionized ways of commercial landlord. This complex has different sizes of offices that can be accommodate for any kind of small business, and is equipped with advanced technology. The price range oscillates depending on the demand of the tenant; it would obviously be cheaper for a small company rather than a biomedical research corp. Their necessities would be unparallel as well. This is a very voluptuous complex and host different companies, exposing them to one another creating a marketing cycle. Indirectly these companies are sustaining one another since there are restaurants, hair salon, vets, hospitals, schools, etc. These amenities offered by the complex give the employers and employees the satisfaction they want.
I actually leased an office from cummings property last year on 128, by exit 35. My primary need was to meet with clines and show them my videos and albums, therefore I only needed enough space for a love seat, single chair, coffee table and TV. My space was 400sq.ft and i paid $397.00, this included electricity, wireless internet and a phone line was optional for a adition $15 per month. Also, they had an option to sign a lease or pay an extra month in advance so you can leave when you want. I know there website states a specific price per square feet, but when you get to the center and see availability, the price is somewhat negotiable. I think the reason there prices are so low is because they have so many different size offices ranging from 200 sq.ft up to a whole floor of space. Also, there turn around is huge. I would think that if your going to start a business, thier property is a good choice because its safe, well taken care of and if your business does bad, you can leave. The disadvantage is that there are so many other businesses there that you will have competition. If a potential client is going to your office, they might see one of your competetors and stop by after. They do have a chart so you can see whats available and whos around, but chances are, they will run into a competetor.
Cummings Properties is a full service real estate development, property management and construction firm. This Firm offer a lot of facilities a different fees.The Fees are based on locations. The higher fees are located in Boston and The lower fees far from Boston. Most of the rates/fees typically include building insurance, abundant free parking, base real estate taxes, full maintenance, etc. In Woburn, Wilmington, Beverly the range is 6.95usd per sq ft until in some areas 45usd per sq ft . As I said before its just depends where the place is located.
There are a lot of of opportunities around this subject,the Internet offers commercial tenants access to multiple data bases of commercial space for lease, more and more of which is offered directly from the owners of the property. I’ve observed that many times when a prospective tenant finds space on their own they simply do not know how to go about leasing the space and must rely upon the owner or the owner’s broker to get them through the process. Sometimes this works, but because of the inherent tensions between landlord and tenant in a negotiation the transactions often fail.
Today’s recession means that tenants are struggling to survive. To that end, many tenants are seeking to renegotiate their leases as a means to further cut costs. Each party should take steps to protect themselves now and in the future. Some landlords are offering to their tenants a reduction in monthly rent amounts, free parking , etc to survive in today’s economic.
The Cummings Properties is a huge company, that offers many different types of places to have a business. They offer space for pretty much any business, from restaurants to bio tech labs. The larger space you have, the more money per square foot you’ll have to pay for. The smallest fee per square foot is around $7.00 and the largest fee for renting is $45.00 per square foot. This market offers great opportunities for commercial tenants, because the vacancy rates aren’t too expensive. The Cummings Properties have a huge clientele and various buildings all over MA. Promotions that could attract tenants are to have billboards advertising rates and different cities they are located in, and ads on TV and in local news papers. To retain tenants, the management could give discounts on rent after renting a space for a certain amount of time. In conclusion, if I were to open a business, I’d definitely keep the Cummings Properties in mind.
Cummings Properties rates are well priced for this economic environment. For someone who is looking to start a small business there rates and service are very competitive. Their properties are state of the art with various amenities like free parking,free internet and they help design your space among other things. There properties are very elegant and impressive. For a potential entrepreneur this could be the perfect space to impress new clients and be looked at as a legitimate businessman.Cummings properties is at the top of the class because they do all the little things that make it easier for someone to concentrate on their business venture. Things like snow removal, free internet, parking, basically maintaining the property and are all things a commercial landlord could do to make his tenants happy.
After researching the Cummings Properties website I found many different interesting things about todays current property renting/leasing business. I am not sure how prior years rates were but I assume that they were much higher when the economy was better. Currently a “Office” type of space ranges from as little as $4.95 a square foot all the way up to $24 a square foot, all depending on size, location and quality. Some spaces even rent for a fixed rate per month but most go by square feet. For a “Laboratory” type of space, the price is more expensive, ranging from $14.95 a square foot to $32.95 a square foot. Obviously it is a bit more expensive because there are alot more needs that are needed in order to maintain a laboratory, not to mention the risks associated with running a laboratory. Some interesting marketing techniques that were posted on the website are that Cummings Properties is now guarnteeing in writing that they are willing to offer more space as needed or allow cancelation of leases without penalty. This is a great tactic in todays market considering companies are either growing fast or going out of business. They also offer other incentives like snow removal, parking, landscaping, in some cases utilities are included, design servies and space planning. The real-estate business is in a drought right now and I think that the leasing market is the place to be and Cummings Properties is in the right place at the right time offereing the right product!
As I walk through the city of Lynn during midday I pass storefronts that more closely resemble a hockey player’s smile than a bustling main street, some empty spaces are being renovated, repackaged like an ugly girl in a new dress, no ring on her finger (despite the fact she might be really sweet on the inside) or sign in the window that says “future home of…” just the quiet desperation of “I’m Available! Call …..” an all too common sight in the proverbial main street U.S.A (the empty storefronts, not girls). Hokum and penny ante theatrics aside the commercial real estate bubble is in mid-burst, of course many of the same factors that lead to residential real estate are culpable in this fatidic crash (sub prime loans, created surplus leading to a devalued market) but there are other less short term factors involved. One such factor is the changing desires of big business and landmark based branding, ask yourself how often do you see a Walmart (the largest company in the world, Forbes) that was made out of a renovated already existing location as opposed to built new?, The answer is simply this, never. Walmart along with many larger chains create their own new real estate as opposed to using existing buildings while at the same time carrying huge financial and political advantages over the sort of small businesses that tend to occupy these existing spaces, couple this with costs of having a physical storefront (rent, water, heat, electricity, etc..) versus a virtual storefront online and you’re looking at ghost towns that even Scooby Doo won’t visit.
If you peruse the ads (craig’s list, on the street) you notice that every space is a brand new cow that the owner is willing to take(magic) beans for, some owners offering free rent for a month or no last month, some even saying things like “we’ll move you in” or “we’ll pay a month’s utilities” unfortunately for them the market they’re trying to reach is much smaller than the available spaces (though talk of small business creation is bandied about like a fashionable hot potato very few small businesses in need of storefronts have actually been created). One trend is to convert spaces from commercial real estate into other types of real estate, in fact a growing trend has been to repurpose these dead spaces from commercial or residential real estate into FDR “new deal-esque” community properties (that are mostly owned by private citizens or non-profit groups) such as parks, public gardens, and sustainable energy stations (New York Times, various articles). Though community properties such as parks and public gardens are not directly profitable they create definite added bonuses such as shrinking the devalued market, improving the appearance and desirability of the community (attract more people to a community and you will attract business, demand etc..), and depending of the use of the property things like food grown and energy/electricity produced that help the community as a whole. Some would say such uses are regressive and like “cutting off your ear to stop and earache” but I personally think it’s a shrewd balancing strategy and more like “burning a wound to stop the infection”.
The Cummings property is a full real estate development. They consist of 82 larger buildings in 10 of greater Bostons communities. Cummings properties lease nearly 10 millions square feet of commercial space to 2,000 clients. They growing at a tremendous rate with most of there signs and advertisements located on route 128 and route 93 where millions of people drive on everyday.
With Cummings Properties have been rated the best valued facilities on a consistent basis. With the annual base rents beginning at only $7.70 per square foot. The facility is available for lease in over 50,000 square feet. Most firms choose Cummings because of it’s low cost and they know that successful business usually grow they guarantee that they will have additional space if needed. They also allow you to cancel the lease without being penalized and they put it all in writing. Which is why Cumming Properties are the lowest office space leasing in Massachusetts.
Cummings Properties offers a a variety of leasing space. It may range from retail and even restaurant leasing for the buliding. Well according to the cummings properties website theire current rates are 18.95 per square foot, and have spaces ranging from 55,000 to 95,000 ft. They do also have lab ready facilties comapred to empty, this is benefit to the customer becuase you really do have your options when looking for leasing space right now esp the way the economy is.
According to their website, Cummings Properties currently offers annual base rents starting at $7.70 per square foot. However, the office space rates in the surrounding areas of Boston range from about $18 – $24 per square foot and the lab space rates range from about $22 – $33 per square foot. These rates usually include base real estate taxes, building insurance, common area maintenance, landscaping, ample free parking, and snow removal. In some cases, they even include heating, cooling, and electricity. The rates seem to increase the closer the location is to Boston. Cummings Properties often guarantees in writing to provide additional space or allow cancellation of the lease without penalty. They also offer design services and space planning free of charge from their in-house architectural department. Cummings Properties often have transportation services such as, MBTA express buses, shuttle bus to commuter rail, commuter trains into Boston, as well as, licensed daycare centers, banks, restaurants, hair salons, health clubs, and courier services located on-site. While I’m sure price is an important deciding factor for tenants, in today’s economy, it could be these “extras” that could make or break the deal.
Many companies are buying places for their offices on lease. At the site of Cumming Properties it says that 86% of the property is leased out which shows that there are lots of business getting on leases. It is the right time to get the lease because as the economy is not good, companies are signing leases for 10 years straight which will be good for the companies for long-term. The time price of the property depends on the area it is in and the demand for the place. There are many strategies you can use to sell your property. Such as advertising it the right way to tell the consumer and advertise it by telling the cost of per day. Consumer is more likely to see the cost which is less and they will listen to that how much it will cost them per day. Internet is the best way for marketing because consumer is more likely to go online and search for it before even going to the location.
Cummings Properties are one of the biggest leasing companies in Massachusetts with 86% of rented space according to their web site. The rates vary from place to place depending on the kind of space that the person is interested in. They have office spaces that vary from $ 4-$40/ square foot depending on the location and the commodities available with it. Rents in Boston are more expensive than the rents in other areas like Beverly. Leasing may vary from $6.95 for 200 to 20,000 square feet in Beverly to $18.95 for a 90,372 according to Cummings P. In places like Medford the lease can be high as $32.95/SF. This market offer many opportunities to tenants like free parking lot, free interior design, renovations, MBTA transportation, built in laboratories, day care, colleges and easy access to restaurants and sometimes the utilities are included in the market place.
I never knew about cummings properties til I research it. As I was reading online there known to be a full service real estate development propert management that has 82 large and bout 10 very large buildings in Boston. Most provide free parking, transportation and some with everything included. 86% is leased
I have research a few Real Estate companies the thing I found out about most of them is now a days they are very detailed in the location aspect of their properties. For example after researching Cummins real estate has many pictures to show the area in which the property is located, and they also share details of what attractions are near by example boating,and fishing. They go indetail on price as well as try to encourage the proper space location making you as the buyer feel comfortable with the location you buy. The Connor Real Estate company also does this however they list their accomplishments and their community ties which would also be impressive to me as a buyer because I would want to feel as I am investing in a company that will improve my community as well.