Springfield, Massachusetts, is a historic city that offers a unique blend of industrial and cultural attractions, making it an ideal location for businesses looking to lease industrial space. With its rich history dating back to 1636, Springfield has evolved into a thriving economic center in Western Massachusetts, boasting a diverse economy with key industries such as manufacturing, healthcare, and finance. The city is home to several higher educational institutions and is part of the Knowledge Corridor, hosting a large number of university students and institutions. As a result, industrial spaces for lease in Springfield are in high demand, with 13 listings available. The average annual rent per square foot for industrial spaces in Springfield is $8 USD, with sizes ranging from 1,500 square feet to 60,995 square feet.
Springfield's industrial spaces for lease offer a range of benefits, including access to a skilled workforce, proximity to major transportation hubs, and a business-friendly environment. The city is served by Bradley International Airport, which connects to various destinations with over 100 daily departures, and Springfield Union Station, which is a hub for multiple Amtrak intercity routes and CTrail's Hartford Line. Additionally, the city has a diverse range of amenities, including hospitals, parks, and sports facilities, making it an attractive location for businesses and employees alike. Other property types available in Springfield include flex space, commercial real estate, land, and restaurants, each offering unique benefits and opportunities. With its rich history, diverse economy, and modern amenities, Springfield is an ideal location for businesses looking to lease industrial space and establish a strong presence in Western Massachusetts.
What is the average size of industrial space for lease in the Springfield market?
The average size of industrial space for lease in the Springfield market is approximately 17,773 square feet, with a total of 13 available listings, and an average annual rent of $8 USD per square foot, making it an attractive option for businesses looking to establish or expand their operations in this strategic location.
What do I need to look for when leasing an industrial space in Springfield?
When leasing an industrial space in Springfield, there are several key factors to consider to ensure you find the right property for your business needs.
- Location: Look for industrial spaces located near major transportation facilities, such as Interstate Highways I-90 and I-91, Springfield Union Station, and Bradley International Airport, to facilitate easy transportation of goods and employees.
- Space size and layout: With an average size of 17,773 square feet and a maximum space size of 60,995 square feet, consider the specific needs of your business, including the number of employees, equipment, and inventory storage requirements.
- Rent and amenities: With an average annual rent of $8 USD per square foot, factor in the cost of rent, utilities, and amenities such as loading docks, cranes, and office space, as well as proximity to amenities like restaurants, banks, and healthcare facilities.
