The Prescott Commercial Real Estate Market

Yavapai County is the second fastest growing county in Arizona. The City of Prescott is the largest urban area within the county. The city’s growth has been steady at about 4% per year for the past decade and is expected to continue at that rate. More than 100,000 people reside in the Quad-City area, which includes Prescott, Chino Valley, Prescott Valley, and Dewey / Humboldt.

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.

Property Performance Analysis

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.

Office Space Leasing Services

Office space leasing and lease representation represents a large part of Arizona Commercial’s brokerage activity. Arizona Commercial’s brokerage professionals specialize in tenant and landlord needs in regard to office space leasing services.

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

Commercial Land Acquisitions

Future development opportunities begin with site selection, i.e., the land.  At Arizona Commercial our Associates are able to assist a business with site determination based upon a predefined business criteria.

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.

Village at the Boulders – Prescott’s Premiere Center

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.

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For additional information about the Village at the Boulders, contact Bebe Wright, CPM, CCIM.

CenterPointe Medical Plaza

CenterPointe Medical Plaza in Prescott, Arizona is a new build-to-suit medical office complex with Suites from ±2,000 to more than ±9,000 square feet.

The growing demand for health care is a reflection of the demographic factors resulting from the regional growth of Central and Northern Arizona in the last 25 years.

The CenterPointe Medical Plaza is ideally situated in the heart of the medical community in Prescott, Arizona.

CenterPointe is adjacent to the Tri City Surgery Center and in proximity to Ponderosa Pediatrics, Desert Hand Therapy and just minutes from Yavapai Regional Medical Center and Bradshaw Mountain Laboratory, the area’s premiere testing center.

The Plaza offers three complete build-to-suite medical suites, each customizable within the pre-planned development. From ±2,000 s.f. to ±9.000 s.f. Additionally, each suite has a private entrance, private offices and dedicated Physician and staff parking.

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Download the brochure for this property.

Contact Bebe Wright, CPM, CCIM at (928) 710-1783 or by email.

Real Estate Relocation Services

Regardless of whether you are moving your business to the Prescott area, or are relocating within the Prescott area, our professionals are here to help. We understand that business relocation is a complex task. Making the right choices requires detailed analysis and in-depth knowledge of the real estate market.

At Arizona Commercial, we are experienced in tenant representation and site selection. We have successfully relocated many companies to appropriate business locations – locations that fit their needs perfectly.

We regularly assist new businesses looking to establish a presence in Northern Arizona. Our clients include a long list of business types including retail, manufacturing, investment, warehousing, and more. We have extensive experience in assisting companies looking to relocate decide whether the best option is to buy, lease or build.

Whether your business requires a small office, major corporate headquarters, retail space or an industrial facility, we have the professionals to make sure you make the right move.

Arizona Commercial will assist you in every aspect of the relocation process:

• Market research
• Finding area population and growth trends
• In-depth study of availabilities locations and rates
• Analysis of site selection
• Building property reports and scheduling tours
• Assist in premises inspection
• Lease and/or purchase negotiations
• Economic & functional analysis
• Calculate values
• Compare and evaluate proposals and contracts
• Provide zoning information and requirements for all jurisdictions in the market area

Great Traffic, Visibility & PRICE

.51 acre, zoned BR (verify with city of Prescott) corner property taken back by foreclosure. 180′ frontage, 2 parcels, APN 114-02-051,052.

Former car sales center. ++ location, w/30K+ cars per day on Sheldon. Lit parking, roll-up door. Walk to/from Yavapai College.

CAP this property at approximately 9% with just $35k NOI at full list price. This property has good investor upside potential. Use subject to buyer verification and city approvals.

LIST PRICE: $375,000 928-777-8100 for key.

Potential retail center, auto sales, RV, Sports vehicles, fast food, professional offices and potential multi-family. At this price, sound investment. Prev list price $1,350,000. Owner may carry, subject to terms.

Contact Donald Teel by email or, if you prefer by calling 928.777.8100. Visit CommercialWebPage.com.

Smart Business is to Choose Arizona Commercial Real Estate

Choosing Arizona Commercial for your Prescott commercial real estate services is smart business. We offer smart solutions in all facets of Prescott commercial real estate.

Founded in 1979, Arizona Commercial Real Estate is the largest and most experienced commercial real estate service provider in Northern Arizona.

Our team of Prescott commercial real estate professionals, with over 120 combined years of commercial brokerage experience, apply their knowledge, insight and experience to assist our clients in reaching their real estate goals.

Arizona Commercial offers clients a dynamic array of commercial real estate options. If your real estate needs lie in:

• Investment property
• Office space for lease or sale
• Industrial properties
• Retail space leasing and investment
• Multi-family
• Undeveloped land

We can help.

Based in Prescott, Arizona, we are considered by many to be Northern Arizona’s premier commercial real estate company. We not only market to local investors, tenants and brokers, but we market through a nationwide network of brokerage firms and trade affiliations.

This, in addition to our affiliation and participation in trade conferences and marketing venues, gives our clients’ properties the widest exposure possible

CenterPointe Medical Plaza

CenterPointe Medical Plaza in Prescott, Arizona is a new build-to-suit medical office complex with Suites from ±2,000 to more than ±9,000 square feet.

The growing demand for health care is a reflection of the demographic factors resulting from the regional growth of Central and Northern Arizona in the last 25 years.

The CenterPointe Medical Plaza is ideally situated in the heart of the medical community in Prescott, Arizona.

CenterPointe is adjacent to the Tri City Surgery Center and in proximity to Ponderosa Pediatrics, Desert Hand Therapy and just minutes from Yavapai Regional Medical Center and Bradshaw Mountain Laboratory, the area’s premiere testing center.

The Plaza offers three complete build-to-suite medical suites, each customizable within the pre-planned development. From ±2,000 s.f. to ±9.000 s.f. Additionally, each suite has a private entrance, private offices and dedicated Physician and staff parking.

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Download the brochure for this property.

Contact Bebe Wright, CPM, CCIM at (928) 710-1783 or by email.

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