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197 Commercial Real Estate Listings in Springfield, MA

Springfield, MA Commercial Real Estate

There are currently 197 commercial listings available in Springfield, MA. These listings include 87 commercial spaces that encompass a total of 826,535 square feet. Available commercial spaces in Springfield, MA range in size from 2 square feet to 160,000 square feet. A total of 142 off-market commercial properties located in Springfield, MA are also available for research.

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Springfield, MA Commercial Inventory Breakdown

In 2022 the Springfield, MA commercial real estate market totaled 6,095,819 square feet of office spaces, 2,611,278 square feet of office spaces with retail, and 5,057,962 square feet of industrial space.

Office Spaces

Total: 6,095,819 SF

Data provided by Yardi Matrix, properties over 50k SF, includes office with retail
By square footage range:
50k to 100k SqFt 1,552,788 SqFt 25.47% of total office
100k to 500k SqFt 1,868,348 SqFt 30.65% of total office
500k to 1M SqFt 1,299,683 SqFt 21.32% of total office
> 1M SqFt 1,375,000 SqFt 22.56% of total office
By class:
Class A 2,172,403 SqFt 35.64% of total office
Class B 3,573,011 SqFt 58.61% of total office
Class C 190,405 SqFt 3.12% of total office
Roughly 21.32% of the total office space in Springfield, MA is comprised of properties between 500K to 1M square feet, and buildings between 50k to 100k square feet represent 25.47% of the office inventory.

Class A office space holds a 35.64% share of the overall Springfield, MA office market, while Class B office assets make up approximately 58.61%.

Industrial

Total: 5,057,962 SF

Data provided by Yardi Matrix, properties over 50k SF
By square footage range:
50k to 100k SqFt 1,624,174 SqFt 32.11% of total industrial
100k to 500k SqFt 3,433,788 SqFt 67.89% of total industrial
By class:
Class A 564,802 SqFt 11.17% of total industrial
Class B 3,289,718 SqFt 65.04% of total industrial
Class C 1,203,442 SqFt 23.79% of total industrial
There are 3,433,788 square feet of commercial real estate properties between 100k to 500k square feet, representing 67.89% of the Springfield, MA industrial inventory. Class A assets total 564,802 square feet of industrial space, with an additional 3,289,718 square feet of Class B and 1,203,442 square feet of Class C properties.

Office Spaces with Retail

Total: 2,611,278 SF

Data provided by Yardi Matrix, properties over 50k SF
By square footage range:
50k to 100k SqFt 329,177 SqFt 12.61% of total office with retail
100k to 500k SqFt 1,457,101 SqFt 55.8% of total office with retail
500k to 1M SqFt 825,000 SqFt 31.59% of total office with retail

Springfield, MA Currently Available Listings & Spaces

Number of Available Listings
City Property Type Count of listings Total SF
Springfield, MA Office 30 315,768
Springfield, MA Retail 19 414,867
Springfield, MA Industrial 5 95,900
Springfield, MA Other 55 826,535
Ofice Icon

30

Office

Industrial Icon

5

Industrial

Retail Icon

19

Retail

Current local active listing encompass 1,653,069 square feet of commercial space for lease in Springfield. There are 30 active office listings, which amount to 315,768 square feet and account for 27% of commercial spaces on the market. Local retail availability includes 414,867 square feet across 19 listings. Current industrial offerings on the market amount to 95,900 square feet across a total of 5.

Employment in Springfield, MA

Employed Population 67,217

Employed population - Industry % Distribution

Management, business, science, and arts occupations

30%

Service occupations

27%

Sales and office occupations

19%

Production, transportation, and material moving occupations

18%

Natural resources, construction, and maintenance occupations

6%

In 2020, roughly 30% of a total of 67,217 employed in Springfield worked in Management, business, science, and arts occupations, followed by 27% in Service occupations and 19% in Sales and office occupations.

Income per capita $22,684  Median household income $44,596

Household income

55%

Under $50k

26%

$50k - $100k

17%

$100k - $200k

2%

Over $200k

The median household income in Springfield stands at $44,596, with per capita income at $22,684. Households earning between $50k and $100k represent 26% of the total, while those earning over $200k make up 2%. Approximately 55% of Springfield households earn less than $50k per year.

Commuting in Springfield, MA

Mean travel time to work 22 minutes

Means of transportation to work

76.90%

Driving alone

7.00%

Carpool

6.30%

Public transit

0.20%

Bicycle

2.70%

Walking

3.40%

Other

3.50%

Work at Home

*Universe: Workers 16 and over

The mean travel time to work in Springfield in 2020 was 22 minutes. Around 76.90% of workers commute by Driving alone, 7.00% Carpool and 6.30% by Public transit.

Education in Springfield, MA

High school grad or higher 80%

Bachelor's degree or higher 17%

Population by minimum level of education

20%

No degree

36%

High school

27%

Some College

10%

Bachelor's

7%

Post-grad

*Universe: Workers 25 and over

An estimated 80% of Springfield residents aged 25 or over hold a high school degree or higher. Of those, 36% are high school graduates, 27% attended some college, 10% earned a bachelor's degree, with an additional 7% holding post-graduate degrees.

Springfield, MA Demographics

As of 2020, Springfield had a total population of 153,599, with a median age of 32.10 years. Roughly 65.70% of the total population was between the ages of 16 and 64 years old.