Chandler Center: Alma School & Ray Roads

Chandler, Arizona is located in the southeast area of the metro Phoenix area and has been one of the high growth markets for two decades.

Chandler Center is a multi-tenant retail center located at the intersection of Alma School Road and Ray Road and features suites from 1,500 s.f. to nearly 5,000 s.f.

Current vacancy offer retailers or other users suites of approximately 2,800 s.f., 2.593 s.f. and 1,500 s.f. all with rear parking and delivery and work access, including roll-up door options, where applicable.

Chandler Center includes Joy Dollars, H&R Block Tax Services, 1 Stop Check Cashing, Stadium Club, Aspen Water and Ice and A-Professional Locks.

To find out more about leasing opportunities at Chandler Center Contact Donald Teel, Senior Associate, Arizona Commercial by emailing him or, if you prefer you may call him, toll free at 877-777-9100. Visit his commercial website and commercial blog here.

Retail Excellence in the Heart of Prescott, Arizona

Posted by Donald Teel, Arizona Commercial, (928) 777-8100)

Prescott, Arizona is already the central Arizona real estate market leader and the place of choice for great businesses.

Early in the game the Developers caught the vision and were well ahead of the commercial market growth curve and boom in Prescott, Arizona. Watch the presentation.

They took a tired center and literally rebuilt it into the Village at the Boulders, making it the premiere and sought-after retail center that has attracted some of the hottest, most successful and most recognized national retail brands. Download the brochure.

The Village at the Boulders is anchored by Wal Mart Super-Center, and built around a successful group of national brands such as Starbucks, JoAnn Fabric, Big Lots, Hi-Health, Denny’s and FedEx Kinko’s, just to name a few.

This “All Star Cast” of nationally recognized retail leaders at the Village at the Boulders deliver to prospective tenants the results of national marketing, resulting in excellent foot-traffic for all tenants. Watch the presentation.

Retail positioning still matters and nothing beats on site eyeballs and shoe leather coming through your front door.

If you are in a retail start-up mode or, if you are an existing retailer seeking the powerful benefit of brand association, please consider the Village at the Boulders.

Download the brochure. Watch the presentation. Visit the website.

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Donald Teel is Senior Associate with Arizona Commercial, an Arizona commercial brokerage and property management firm. Need more information? Please call 1-877-777-9100 or, if you prefer, you may email Donald Teel

Arizona Commercial Announces Merger

NEWS RELEASE. PRESCOTT, AZ. September 28, 2009

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Prescott, AZ. September 28, 2009. Arizona Commercial, a Prescott, Arizona commercial real estate company and Majestic Properties, a Prescott, Arizona leasing and property management firm announced their strategic merger.

The two firms will operate a brokerage division and a property management division each headed by their respective owners. Jim Pullaro current Designated Broker will continue to act in that capacity as Chairman and Broker for the Brokerage Group (BG) and Dan Frederiksen, current Owner and Designated Broker of Majestic Properties, will become President of the Company’s new Property Management Group (PMG).

In addition, the Company has announced that Donald Teel has been named the firm’s new President and CEO. He will direct the Companies business operations and development strategies include its expansion, technology and client services. Mr. Teel is the former owner and President of Prudential Foothills Real Estate, which he sold in 2005 and a past Del Webb Corporation Vice President of Sales and Marketing.

“We continue to believe that the commercial real estate investment opportunities throughout Arizona will rebound and this merger creates for us an opportunity to position ourselves for more effective growth and more importantly, to deliver a full menu of commercial services to our current and growing clients,” said Jim Pullaro, Chairman and Broker.

According to Teel, “This decision creates the area’s largest full service commercial brokerage company and puts us into the metro Phoenix, Payson, Sedona, the Verde Valley and the Tucson/Green Valley markets thanks to the current position of Majestic Properties in those geographic areas; equally important is the fact that this merger provides us with the fundamental business structure for horizontal growth.”

“Majestic Properties is a leader in leasing and property management in the Prescott area and has a Phoenix office as well…we wanted to take a more substantial position in the market and the merger with Arizona Commercial makes good operating sense,” according to Frederiksen, who will become the firm’s President and will manage Arizona Commercial’s Property Management Group.

Arizona Commercial indicated that its development plans include a presence in multiple markets, implementation of commercial real estate technologies and a recruiting and training emphasis for full-time commercial real estate professionals. Terms of the merger were not disclosed. The deal is expected to finalize by the end of 2009.

Challenging Property Tax Values

Posted by Donald Teel – Arizona Commercial.

In today’s commercial investment environment, property taxes can be lethal. Many investors are still paying property taxes that are reflective of the market run-up of 2000-2006 and not necessarily on the current valuations of their investments.

The questions are what can you do about inflated tax valuations, where do you turn and more importantly, how can investors challenge property tax values successfully?

Property Tax Analysis. Create an analysis of the assessed value of your property for the previous five years to determine the trend line. The analysis should show the assessed values and compare those with a legitimate Broker Price Opinion (BPO) to show market value trend compared to assess valuation trend. It might look something like the following (Download the FREE sample spreadsheet here).

Commercial BPO. Secure a commercial property broker price opinion (BPO) for your property to help determine the market value trend line. Arizona Commercial can do this for you for a nominal fee. The report includes photos, recorded sales values, spreadsheet analysis and conclusion.

The BPO must include such detail as location within the market, property style, age, square footage, lot size, parking, vacancy/occupancy rates, number of leasable office/areas, and other issues that demonstrate the empirical value of the property.

Appraisal Approach. If the first two suggestions demonstrate that you have a potential tax overcharge, the final requirement may be to secure a full appraisal with detailed analysis of comparable properties. Appraisals are expensive and should only be used if the economics of the situation warrant such a measure. However, when push comes to shove, a certified appraisal will carry more weight than a commercial BPO.

Challenge Process and Procedure. States have specific procedures for challenging property taxes and the process must be respected in order to be successful.

The process will include forms, time frames and details that must be completed prior to consideration of a claim. Following these procedures and time limitations will be a critical factor. Most likely you will be required to pay the taxes while challenging their validity and if taxes are not paid in a timely manner, other negative consequences can occur in the form of interest and penalties and in severe cases, assessors may sell the delinquent taxes with a lien or even sell the property after a specified time.

Appealing a tax bill is not easy and may include several layers of review including a hearing for the property owner and even judicial recourse. Ask your County Assessor’s office for a copy of their appeal process.

Failure, Refusal or Inability to Pay Taxes. It is unlikely that a refusal to pay property taxes pending the outcome of a challenge will carry any weight and may further exacerbate the problem by creating a hostile situation.

Philosophical, political or principles of conscience are irrelevant to the process. However, in some cases, hardship may be considered as a factor in when and how the taxes are to be paid. Hardship exemptions are difficult when it comes to commercial property and typically are more successful when the property is a primary residence.

Generally speaking if an owner cannot pay the commercial real estate property taxes that owner should immediately communicate with the County Assessor’s office where the property is located and seek advice.

If a challenge is in order, owners may want to contact a competent lawyer with experience in real estate property tax law.

Declining Commercial Values. Most property types have declined in value and this naturally leads to an examination of all expenses related to market value and the cost of the property, including property taxes.

Declining values are now creating a backlog of challenges and yes, it can get very nasty, as some governments are deliberately protracting the challenges and the court cases to their advantage.

There is no doubt about it, however, that some owners are still paying taxes based on unsupportable valuations from previous years. Despite the declines, property taxes have continued to climb in far too many markets. As an example of the lagging, for the first time in 12 years, property taxes in some areas of Los Angeles County declined up to 15% while others increased.

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Donald Teel is Senior Associate with Arizona Commercial a central and northern Arizona commercial brokerage firm. Need more information call 1-877-777-9100 or, if you prefer, you may email Donald Teel