Arizona Commercial Real Estate Offers:

• Investment property sales and purchase representation.
• Landlord representation.
• Tenant representation.
• Leasing strategy and management planning.
• Land acquisition and development services.
• Specialists in retail, office, industrial, multi-family, land, and investment transactions.
• Marketing expertise.
• Business relocation services.
• Investment and sales strategies.
• Retail Space Leasing and Investment.
• Office Space Leasing and Lease Services.
• Industrial, Manufacturing, Distribution Real Estate Services.

McCormick Place - Prescott, Arizona

Post Sponsored by Mary Jo Kirk

What is the current state of commercial property ownership, user potential, performance and values in the Prescott, Arizona area?

Where is the commercial real estate market headed in 2009 and beyond and what should property owners be doing to focus on property performance going forward?

At Arizona Commercial, we believe it is critically important for owners of commercial property within the tri-cites of Prescott, Prescott Valley and Chino Valley to consider executing a thorough “Property Performance Analysis” or PPA, based upon changes taking place in the general market but especially with respect to changes taking place in commercial mortgage lending.

The Myth of Immunity

The tri-cities commercial real estate market is not immune from the impact of the economy on property performance in larger metro markets such as Los Angeles and Phoenix.

The local commercial market is directly impacted by the strength of the general ecomomy, unemployment, housing and most importantly, lending.

The decline in residential property values, a slowdown in new construction, the reversal of commercial appreciation rates and unemployment are all contributing to changes in the performance of all segments of the commercial real estate market.

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Property Performance Analysis

Arizona Commercial is currently engaged in conducting “Property Performance Analysis” (PPA) with commercial property owners as a FREE service designed to guage an owner’s financial objectives, the current financial performance of a property and the short and long term financing needs associated with the property.

Because we anticipate new challenges to commercial property performance as a direct result of the general conditions of the economy we think it imperative that owners assess their property performance situation sooner rather than later, and that they develop a sound financial plan going forward.”

Jim Pullaro – Broker, Arizona Commercial

Arizona Commercial’s PPA includes an assessment of and owners’s financial objectives measured against the quality of tenant mix, correct property use, lease performance, operating cost analysis, mortgage situation and estimations of user demand through 2010, with specific recommendations in each category.

Arizona Commercial’s PPA is like a property physical, in a sense. It measures and evaluates the critical components related to the health of a commercial property and sets forth prognosis and treatment before problems begin.

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Refinancing and Replacing

Commercial property owners and investors are keenly aware of the need for quality “R and R” or, refinancing and replacing. These are the two keys to perpetuating long term performance.

Lenders are currently tightening requirement for new commercial loans and refinancing. Qualification requirements are more stringent and under-performing properties or, select segments (property types) within the commercial real estate market are finding it more difficult to secure financing.

A PPA can signal issues an owner may face before they become critical and assist with pre-planning for mortgage refinancing, property replacement or, both.

Commercial real estate investments require monitoring, adjustments and sometime immediate changes in order to keep them performing. A PPA can flag areas where an owner can and should make adjustments in order to keep performance healthy.

Until recently, many properties were performing as a result of a strong demand and easy financing. Therefore, many owners ignored or postponed the need for regular property analysis. In today’s economy there is no guarantee that a property will appreciate or perform without careful “hands-on” attention and management of the components of performance.

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Your may contact any of our Commercial Associates for a confidential Property Performance Analysis or, if you prefer, call Arizona Commercial at 928.776.8460 or use our contact form.

We are knowledgeable on all local market aspects regarding office leasing. We are well versed in office leasing within Prescott, Chino Valley, Prescott Valley and all of Yavapai County.

We are are supported by unique, industry-leading econometric forecasting and market research tools to ensure clients make strategic and informed decisions.

Each year we negotiate many office transactions on behalf of our clients involving. Transactions include new properties, business and office parks, multi-tenant buildings, and mixed-use projects.

Tenants and landlords both benefit from the unmatched experience, local market knowledge, and integrity of our office professionals. Our transaction services are provided to major corporations, developers, entrepreneurs, small and midsized companies, and financial institutions.

Arizona Commercial will assist both landlords and tenants in every aspect of the office relocation process:

• Market research
• Finding area population and growth trends
• In-depth study of availabilities locations and rates
• Targeted marketing to prospective tenants
• Building property reports and scheduling tours
• Economic and Functional Analysis
• Calculate values
• Compare and evaluate proposals and contracts
• Lease negotiations
• Assist with build-out plans
• Assisting in premises inspection

As one of Arizona’s premiere commercial real estate brokerages, Arizona Commercial offers its services primarily in Central and Northern Arizona, with listing and property management services extended to other Arizona communities.

Download the Arizona Commercial Qualifications Brief.

Site selection for development project starts with analysis of all aspects of the location such as, transportaion, ingress and egress, shipping, other approved development plans, demographics, anticipated future growth and more.

The Cordes Junction interchange is 67 miles north of downtown Phoenix, 81 miles south of Flagstaff and 35 miles east of Prescott.

Cordes Junction is the central Arizona traffic interchange serving Prescott and Prescott Valley traffic and north-south interstate travel between Phoenix, Sedona, and Flagstaff.

Offering Price: $671,000
Total Site Area: 7.71 Acres
Price/sf: $2
Parcel: 500-06-015B
Zoning: RCU 2
ADOT Access

Description: Approximately 7.71 acres of undeveloped land gently sloping from the midpoint towards the highway with elevated 360 degree views, stunning to the north. Vegetation is light brush overgrowth.

Access: The Property is accessed by the frontage road on the westbound (Prescott) side of Highway 69, with a dedicated eastbound left-turn lane giving full ingress and egress to the highway. The current frontage road access to the property is Kennedy Drive on the eastern front parcel boundary.

Zoning: Currently RCU-2A, Residential with two (2) acres minimum. Due to the proximity to the interchange, Yavapai County is very interested in the commercial development of bordering and nearby properties and welcomes re-zoning with a formal site development plan. Quail Ridge, a 5-Acre parcel directly across Highway 69 from the subject property, evidences this by being recently rezoned to C1 commercial with a 27-unit “KOA style” RV Park currently under development. C1 zoning is a broad category encompassing gas station, hotel/motel, retail, restaurants, fast food, travel related services as well as neighborhood sales and services for the nearby communities.

Utilities: Utilities are existing on adjacent property. Water wells are in the area.

Traffic: From Cordes Junction to Spring Valley, the nearest community 2.75 miles to the west, 2008 traffic counts are 13,000 daily with predictions to double by 2020. The Interstate 17 traffic to the south counts 26,000 and to the north 17,500. The Arizona Department of Transportation (ADOT) in conjunction with the Federal Highway Administration (FHWA) is in the process of a $53 million Interchange Improvement Project scheduled for 2010-2011 to upgrade and improve the interchange and provide secondary access to the Cordes Lakes community.

Population Centers: The westbound Highway 69/Interstate 17 Interchange is the major artery to the Prescott MSA (82,500) which is the largest Arizona MSA north of Phoenix with growth that exceeds the regional and national averages. It serves the communities of Prescott (47,400), Prescott Valley (41,900), Chino Valley (17,000), and Dewey-Humboldt (4,500). Communities in the property’s immediate vicinity include Mayer, Spring Valley, Cordes Lakes and Arcosanti with a combined population of 6,700. Other major population centers of Phoenix Metro (4.3 million), Flagstaff (65,000) and Sedona (11,400), are within 25 to 75 miles of this location.

Yavapai County: Yavapai County encompasses 8,125 square miles. The current population is approximately 241,000 making it the 4th largest county in the state. It is one of the fastest growing counties in the U.S. and the second fastest in the state, experienced a population growth of 205% from 1990 to 2003.
AZ Dept. of Economic Security and U.S Census Bureau

Posted by Bebe Wright, CPM, CCIM

The Village at the Boulders is Prescott’s finest and premiere retail center offering tenants a high traffic position in the heart of Prescott, Arizona. Anchored by Walmart Super Center, the Village at the Boulders is the choice for businesses seeking an edge.

Ultimate Anchor. The Village at the Boulders in Prescott, Arizona is anchored by the ultimate anchor, Walmart Super Center. Walmart is the King of Retail and those retail shops that surround it enjoy a favored position in a highly competitive market.

What do business need more than anything else? Traffic. The retail market is a crowded playing field and the cost per person for foot traffic can be a killer to any retail budget. Going it alone just doesn’t make good business sense. Enter…ANCHOR…enter…Walmart, the world’s leader in retail traffic.

Hook yourself to a leader and you become a leader. When you bring your business to the Village at the Boulders, you receive the benefits of operating in the shadow of the best.

Being anchored by Walmart means foot traffic all year long. Being attached to the best retailer in the world can only mean that more people have the opportunity to see your business. After all, if they don’t see it, they won’t enter it and if they don’t enter your business, they will not spend money buying your products or services. Download leasing and purchase information.

Top Retail Brands. The Village at the Boulders attracts high-powered retial brands that understand the power and privilege of location, location, location.

This center places tenants in the company of top national brands, thus insuring a market recognition and draw exceeding typical retail centers.

Being in the company of power-brands such as Starbucks, Fedex Kinko’s, Hi-Health, Big Lots, JoAnn Fabrics, Dollar Store and Denny’s, just to name a few, can increase your company’s foot traffic and contribute to the bottom line. Download leasing and purchase information.

Market Position. Not only is the Village at the Boulders Prescott, Arizona’s premiere retail center, it is the largest retail center in the city of Prescott, Arizona and, therefore maintains its position as the recognized leader in retail location.

Let’s face it, the commercial real estate market is a competitive arena and allows little room for failure. Location is the central key to positioning any business that is dependent upon eyeballs and feet in order to sustain its market position.

If your company is seeking a competitive edge that will separate you from the pack, the Village at the Boulders is your best bet in retail.

Break from the pack of average, ho-hum centers and consider taking your place at the Village at the Boulders. Download leasing and purchase information.

Former tenant, a hair salon, has relocated within the same complex, allowing another existing salon and hair styling tenant to relocate here and assume a position within this salon-demised suite.

This suite allows is an end cap with a eastern view of the Mingus Mountain ridge. In addition, it affords its occupant end cap parking on the north side.

Excellent signage positions front and back for maximum business exposure. Lease rate negotiable at $9 to $12 s.f. based upon use, tenant strength and term.

Get more information by contacting Bebe Wright, CMP, CCIM at Arizona Commercial by email or, if you prefer, you may call her at 928.710-1783.

One of the factors that are often ignored is the place of property management in the creation and maintenance of immediate and long term value.

At Arizona Commercial we provide each investor with the opportunity to contract with our Property Management Group. We think this offering is good for our clients and can help them with more than management; it can help with property values as well.

Here are five questions to ask a commercial property management company…before you sign the agreement.

Question One: What is the level of commercial investment and property management experience of the company?

Just about anyone can make the “claim” to being a property manager but does the company and the manager have actual commercial real estate investment experience? If a property management company does not understand commercial real estate investment, they will most likely not understand their role and responsibility in creating value for the owner.

Question Two: How many properties are currently being managed by the company or manager?

The answer to this can tell you a number of things. Experience typically comes from having a track record and if a company or manager does not have several properties of the type you own, do not consider them. Experience equates to skill. Proficiency is a derivative of experience.

Question Three: What are the specific property management accounting systems used by the company or a manager?

Commercial property investment begins with the purchase but will rise and fall on the strength of ongoing accounting and tracking of all expenses related to the investment. Does the property manager or company have an accounting system, preferably accounting software and what kinds of account reports will be supplied to the owner?

Question Four: Does the Property Management company or manager have a full-time dedicated staff including maintenance personnel?

When something goes wrong…and, it will…does the property management company have skilled maintenance personnel available 24/7/365? There are essentially two types of maintenance, general and emergency. General maintenance has to do with regular and ongoing repairs to such needs as landscaping, painting, parking, etc. Emergency issues involve unpredictable maintenance arising from out-of-the-ordinary circumstances such as flooding due to plumbing failures, electrical and leaky roofs, as examples. Having a property management company with a full-time dedicated maintenance staff is critical to general and emergency maintenance.

Question Five: What are the costs for full-time management and how do they contribute to financial performance, short term and long term?

The answer to this question is paramount to understanding the true value of property management to an owner. Property management should contribute to property value by (i) protecting the owner from surprise expenses, (ii) protecting the property from the expense associated with ignored deterioration and (iii) protecting the performance of the investment for future refinancing or sale.

These are by no means all of the questions you might want to ask a property management company or manager but they are the foundational questions owners need answered before executing a management agreement.