Somerville, Massachusetts, is a densely populated city that offers a unique blend of walkability, bikeability, and a well-developed transportation system, making it an ideal location for Retail Space For Lease. With a population of around 80,000 people, Somerville is home to Tufts University and boasts a mix of industries, including food service, moving services, 3D printing technology, and publishing. The city's efficient emergency services, waste management systems, and snow removal equipment ensure a smooth operation of businesses. Additionally, Somerville's vibrant arts scene, diverse range of commercial and entertainment centers, and notable attractions like Dilboy Stadium and the Somerville Museum make it an attractive location for businesses and tourists alike.
With 18 Retail Space For Lease available, Somerville offers a range of options for businesses looking to establish a presence in the city. The average annual rent per square foot for Retail Space in Somerville is $54 USD, with sizes ranging from 764 square feet to 34,065 square feet. Nearby, Restaurants, Medical Offices, and Office Space are also available, offering a diverse range of options for businesses. The city's transportation infrastructure, including the Somerville Community Path, MBTA subway stations, and bike paths, ensures easy access to these properties. Overall, Somerville's unique blend of amenities, infrastructure, and attractions make it an attractive location for businesses looking to establish a presence in the city.
What is the average cost per square foot for retail space in Somerville?
The average cost per square foot for retail space in Somerville is $54 USD per square foot, with an average size of 5,687 square feet and a maximum space size of 34,065 square feet available among the 18 listings currently on the market.
How do anchor tenants affect surrounding retail space leases?
In Somerville, where there are currently 18 retail space listings available, anchor tenants play a significant role in shaping the surrounding retail landscape, as they often attract a high volume of foot traffic, which can increase demand for nearby retail spaces, drive up rental rates, and influence the types of businesses that choose to locate in the area, such as restaurants, cafes, and specialty stores that cater to the anchor tenant's customer base, ultimately creating a synergistic effect that benefits the entire retail ecosystem.
