February Commercial Real Estate News

Feb 27, 2023 admin 0 Comment

Welcome to the latest edition of our Commercial Real Estate News for February.

In this month’s news, we bring you the latest updates and insights on the commercial real estate market. As we move further into the new year, the real estate industry is showing signs of steady growth, and we have seen significant shifts in the market, including an increase in demand for office space and changes in the retail landscape. Our team of experts has analyzed the latest data and trends to provide you with valuable information that can help inform your real estate decisions. Whether you are a property owner, investor, or industry professional, we aim to provide you with insights that can help you navigate the complex world of commercial real estate. So, read on to stay up-to-date with the latest news and developments in the industry.

Scottsdale firm invests $100M in Glendale commercial real estate projects

PHOENIX — A Scottsdale real estate firm is expanding its portfolio to the West Valley with the announcement this week of $100 million of investments for a handful of Glendale developments.

Diversified Partners in a press release said the investments are for commercial real estate projects including the Cambria Hotel, the En Fuego retail development, the retail development at 91st Avenue and Cardinals Way as well as the space at 75th Avenue and Bethany Home Road. More

Commercial Properties Are Struggling to Refinance Debt:

Q&A
Feb. 24, 2023, 6:00 AM

Many commercial property owners are struggling to refinance debt, which is creating opportunities for providers of emergency financing, said Jeff Kaplan, managing partner at Meadow Partners.

Kaplan, whose firm manages $5.8 billion of assets, spoke to Bloomberg’s Erin Hudson in a series of conversations ended Feb. 23. Comments have been edited and condensed.

McCarthy Building Cos. expands Valley footprint, opens new training facility

The state’s second-largest general contractor renovated a building formerly used by the Arizona Department of Transportation and USA Today in Chandler for its new workforce center. Justin Kelton, president of the Southwest region for McCarthy Building Cos., shares why the company is expanding.

Is This a Return to Normal for Phoenix’s Industrial Market?

So, what does this mean for the industrial market?

Developers have been on a buying spree trying to find land to put up more boxes. We now have nearly 40 million square feet under construction, with 12 million of that pre-leased.

Developers have been looking at developing in all parts of the Valley. The big box market is reaching into the outskirts of Buckeye, while Mesa Gateway is thriving with activity. Infill projects everywhere are still in demand. ViaWest, in partnership with Prospect Ridge, is developing two industrial parks on parcels along Interstate 10 in the southeast valley. Sight Logistics is rising out of the ashes of the former Insight Enterprises corporate headquarters in South Tempe. The former office building has been demolished and two new industrial buildings are under construction in their place. Read Full Story

Phoenix Commercial Advisors Brokers $11.8 Million Sale of Mesa Gateway Retail Property in Arizona

Phoenix Commercial Advisors has arranged the $11.8 million sale of Mesa Gateway, a three-building retail property located in Mesa. Totaling 31,824 square feet, the three buildings were fully leased to tenants including Verizon, Comerica, Jimmy John’s Sandwiches, Fit Body Boot Camp and Boba CuTea. Danny Gardiner and Chad Tiedeman of Phoenix Commercial Advisors represented the undisclosed seller in the transaction. Shopping

Developer Creation to build $60 million industrial center in Scottsdale Airpark.

Commercial real estate developer Creation has announced the acquisition of 18 acres within the Scottsdale Airpark with plans to develop a $60 million industrial center.

The Phoenix-based company will break ground later this year on Thunderbird Commerce Park, a 243,360-square-foot, Class-A industrial building located east of the southeast corner of Scottsdale and Thunderbird roads. With direct adjacency to the Scottsdale Airport, building features include 51 truck doors, 32-foot clear height, 3,000a power, four electric vehicle dual charging pedestals, 130-foot truck court depth and 322 car spaces. Read More

Marcus & Millichap Negotiates Sale of 4,500 SF Retail Property in Chino Valley, Arizona

Sherwin-Williams occupies the 4,500-square-foot retail building at 89 West Road 2 in Chino Valley, Ariz. Read More

Commercial real estate executives are optimistic about future market conditions

The Real Estate Roundtable’s Q1 Economic Sentiment Index reports that commercial real estate executives, while optimistic about the future, remain uncertain about current market conditions, citing inflation, rising interest rates, and supply chain disruptions as concerns. However, executives also express that perceptions and outlooks differ across asset classes, as some remain strong and others show concerns. Full Story

The Glendale sports complex is one of two this land investor has proposed for the West Valley in recent years. Here’s a look at the conceptual renderings for the facility.

Opening Up A Retail Shoe Store

Feb 25, 2023 admin 0 Comment

Here is a step-by-step guide on opening up your own retail sneaker store. By following these best practices, you can successfully open your own physical commercial retail sneaker store while incorporating SEO best practices for content to attract customers and build a loyal customer base.

Your Digital Real Estate

Step 4: Build a Website
In today’s digital age, it is essential to have a website that showcases your products and allows customers to shop online. Build a website that is visually appealing, easy to navigate, and optimized for search engines. Make sure to include detailed descriptions and high-quality images of your products, along with customer reviews and ratings.

Step 5: Develop SEO Content
Develop high-quality, engaging content for your website and social media channels that provides value to your audience. This can include blog posts, videos, and social media posts that showcase your products and provide helpful tips and information. Ensure that your content incorporates SEO best practices, such as using keyword-rich titles, meta descriptions, and internal linking.

Step 6: Optimize Your Store for SEO
Optimize your physical store for SEO by incorporating elements that encourage customers to share their experiences on social media, such as photo opportunities, interactive displays, and customer reviews. Make sure to use consistent branding across all marketing channels, including in-store signage, product packaging, and marketing materials.

Step 7: Engage With Customers
Engage with your customers both online and in-store to build a loyal customer base. Use social media to share updates about new products, special offers, and events. Encourage customers to leave reviews and provide feedback to improve your products and customer service.

Step 8: Monitor Your Analytics and Adjust Your Content Strategy
Use analytics tools to track your website traffic and user behavior, and adjust your content strategy accordingly. This can include identifying which types of content are most popular, which keywords are driving the most traffic, and which social media channels are most effective.

Owning your own retail sneaker location can be a dream come true for many sneaker enthusiasts and entrepreneurs.

Here are some of the benefits of owning your own retail sneaker location:

Greater Control: When you own your own retail sneaker location, you have complete control over the products you sell, the store layout, and the customer experience. This means that you can curate a unique collection of products, design a store layout that reflects your brand and style, and create a customer experience that sets your store apart from the competition.

Increased Profit Potential: Owning your own retail sneaker location can be a profitable business venture. By buying and selling sneakers at a markup, you can earn a profit on each sale. Additionally, owning your own store means that you don’t have to pay a percentage of your profits to a third-party retailer or e-commerce platform.

Customer Loyalty: When you own your own retail sneaker location, you have the opportunity to build a loyal customer base. By providing excellent customer service, offering unique products, and creating a welcoming store environment, you can create a community of sneaker enthusiasts who return to your store time and time again.

Flexibility: As the owner of a retail sneaker location, you have the flexibility to adjust your business strategy based on market trends and customer demand. You can adjust your product offerings, pricing, and marketing strategies to keep up with changing consumer preferences and stay ahead of the competition.

Personal Satisfaction: For sneaker enthusiasts, owning a retail sneaker location can be a source of personal satisfaction and fulfillment. By sharing your passion for sneakers with others, you can create a business that reflects your personal interests and values, and build a career doing something you love.

Overall, owning your own retail sneaker location can be a rewarding and profitable business venture that allows you to share your passion for sneakers with others, build a loyal customer base, and create a unique shopping experience for your customers.

Commercial Real Estate Services
Commercial Roofing Services

Professional Pest Control Services

commercial property insurance

Feb 20, 2023 admin 0 Comment

Commercial property insurance is a type of insurance policy that protects businesses and their assets from financial losses due to damage or destruction of their property. It typically covers a range of risks such as fire, theft, vandalism, water damage, and natural disasters such as hurricanes and earthquakes.

Commercial property insurance policies

can vary depending on the type of property being insured and the specific risks associated with it. For example, a commercial property insurance policy for a retail store may include coverage for damage to the building, inventory, and equipment, as well as liability coverage in case a customer is injured on the property. In contrast, a policy for a manufacturing facility may include coverage for equipment breakdowns, product liability, and loss of income due to business interruption.

The cost of commercial property insurance is usually based on several factors, including the type and size of the property being insured, the location of the property, the level of risk associated with the property, and the coverage limits and deductibles selected by the business owner. Generally, businesses with higher risk factors, such as those located in areas prone to natural disasters or with expensive equipment, will pay higher premiums.

Having commercial property insurance can provide peace of mind for business owners by protecting their assets from unforeseen circumstances. In the event of a covered loss, the insurance company will typically reimburse the business owner for the cost of repairing or replacing the damaged property, up to the policy’s coverage limits. This can help the business quickly recover from a loss and avoid significant financial hardship.

Commercial property insurance is crucial

aspect of protecting a business’s assets, but unfortunately, many business owners overlook the importance of having this type of coverage. In this article, we’ll explore the importance of commercial property insurance, share some statistics and quotes, and explain why every business owner should consider investing in this type of insurance.

Firstly, commercial property insurance provides financial protection for businesses in case of unexpected events such as natural disasters, theft, and damage to property. These events can cause significant financial losses for a business, especially for small businesses that may not have the financial resources to withstand such losses. Without insurance, a business may struggle to recover from a loss, potentially leading to bankruptcy.

According to a report by the Insurance Information Institute, 40% of small businesses do not reopen after a disaster. Additionally, 25% of businesses that do reopen after a disaster will close within two years. These statistics highlight the importance of having commercial property insurance to help mitigate the financial risks associated with unexpected events.

Moreover, commercial property insurance can also protect businesses from liability claims. If a customer or third party is injured on the business’s property, the business could be held liable for damages. This can result in costly legal fees and damages awarded to the injured party. Commercial property insurance can provide liability coverage to protect businesses from such claims.

As explained by Dan Weedin, a risk management consultant, “Liability insurance is critical for any business because lawsuits can arise from any number of situations, including a slip-and-fall accident, a defective product, or a breach of contract.”

Additionally, having commercial property insurance can provide peace of mind for business owners. By knowing that their assets are protected, they can focus on running their business without worrying about unexpected events that could lead to financial losses.

However, it’s essential to note that not all commercial property insurance policies are created equal. Business owners must carefully review their policy to ensure it covers the specific risks associated with their business. For example, a business located in an area prone to natural disasters such as hurricanes or earthquakes may require additional coverage for these events.

Commercial Real Estate Services

Commercial Roofing Services

Top commercial property insurance companies

There are several top commercial property insurance companies that businesses can choose from to protect their assets. Here are some of the most reputable companies and a brief description of their offerings.

State Farm: State Farm is a well-known insurance company that offers a variety of insurance products, including commercial property insurance. They offer coverage for buildings, contents, and liability, as well as additional coverage options such as business interruption insurance.

Nationwide: Nationwide is another large insurance company that provides commercial property insurance. Their policies cover a range of events, including fire, theft, and damage from natural disasters. They also offer additional coverage options, such as equipment breakdown and cyber liability insurance.

Chubb: Chubb is a global insurance company that specializes in providing coverage for businesses. They offer customizable commercial property insurance policies that can be tailored to fit the unique needs of each business. Their policies cover a variety of events, including damage from natural disasters, theft, and vandalism.

Travelers: Travelers is a popular insurance company that provides commercial property insurance for businesses of all sizes. They offer coverage for buildings, contents, and liability, as well as additional coverage options such as equipment breakdown and inland marine insurance.

The Hartford: The Hartford is a well-known insurance company that provides commercial property insurance for small businesses. Their policies cover a range of events, including damage from natural disasters, theft, and vandalism. They also offer additional coverage options, such as business income insurance and employment practices liability insurance.

Allstate: Allstate is another large insurance company that offers commercial property insurance for businesses. Their policies cover a range of events, including damage from natural disasters, theft, and vandalism. They also offer additional coverage options, such as business income insurance and cyber liability insurance.

Each of these companies has its strengths and weaknesses, so it’s essential for business owners to research and compare policies to find the best fit for their specific needs.

commercial property market value

Feb 20, 2023 admin 0 Comment

In the real estate market, market value is the most commonly used value for commercial property. It is a complex and dynamic concept that takes into account various factors such as the location, condition, and potential income of the property. In this article, we will delve deeper into the topic of commercial property market value, including its definition, calculation, and importance. We will also explore some statistics and figures to help illustrate the significance of market value in commercial real estate.

What is Market Value in Commercial Property?

Market value is defined as the estimated amount for which a property should exchange on the date of valuation between a willing buyer and a willing seller in an arm’s length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently, and without compulsion. In simple terms, it’s the price that a property would fetch in an open and competitive market under normal circumstances.

To calculate the market value of a commercial property, appraisers use three primary approaches: the sales comparison approach, the income approach, and the cost approach. The sales comparison approach involves comparing the property to recent sales of similar properties in the area. The income approach involves estimating the property’s potential income based on its current or projected rental income, and then discounting it to arrive at its present value. The cost approach involves estimating the cost to replace the property with a similar one, then adjusting for depreciation to arrive at its present value.

Importance of Market Value in Commercial Real Estate:

Market value is a critical concept in commercial real estate as it serves as the basis for determining the price at which a property will be bought or sold. Accurately determining the market value of a property is essential for both buyers and sellers as it ensures that the transaction is fair and equitable.

For buyers, market value helps them determine if the property is priced correctly and if it will generate the expected returns on investment. On the other hand, sellers use market value to set a realistic asking price for the property and to ensure that they receive fair compensation for their investment.

Statistics and Figures:
According to a report by the National Association of Realtors, the commercial real estate sector has been growing steadily in recent years. In 2020, the sector contributed $1.14 trillion to the U.S. GDP, representing a 6.7% increase from the previous year. This growth is attributed to increased demand for office, industrial, and retail properties, driven by factors such as low-interest rates, job growth, and e-commerce.

In terms of market value, a report by CBRE revealed that the average value of U.S. commercial real estate properties increased by 3.6% in 2020, despite the economic uncertainty caused by the COVID-19 pandemic. The report also noted that properties in the industrial and multifamily sectors saw the strongest growth in value, driven by increased demand for logistics and rental properties.

spoke to John Monroe, a commercial real estate appraiser with over 20 years of experience. According to him, “Market value is the foundation of commercial real estate transactions. It’s essential for buyers and sellers to have a common understanding of the property’s value to ensure a fair and equitable transaction.”

He also noted that “Calculating the market value of a commercial property can be a complex process that requires a thorough understanding of the local market conditions and trends. Appraisers use various methods to arrive at an accurate value, and it’s important to ensure that all relevant factors are taken into account.”

Conclusion:
In conclusion, market value is a critical concept in commercial real estate as it serves as the basis for determining the price.

The factors that affect commercial property market value can be both internal and external to the property. Some internal factors include the size, layout, quality, and condition of the property. External factors include the location, economic conditions, and local market trends.

Location is one of the most significant external factors that affect commercial property market value. A property’s proximity to transportation hubs, major highways, and public transportation, can positively impact its value. Additionally, the local neighborhood and community amenities, such as shopping centers, restaurants, and parks, can also affect the value of the property.

Economic conditions also play a significant role in determining commercial property market value. For example, during periods of economic growth, there is typically increased demand for commercial properties, which can lead to higher market values. Conversely, during periods of economic downturn, the demand for commercial properties may decrease, leading to lower market values.

Local market trends can also have a significant impact on commercial property market value. For example, if there is a trend of businesses moving into a particular area, the demand for commercial properties in that area will likely increase, leading to higher market values. Conversely, if businesses are leaving a particular area, the demand for commercial properties in that area will likely decrease, leading to lower market values.

It is essential to note that the market value of a commercial property is not the same as its assessed value for tax purposes. The assessed value is typically based on a formula that takes into account the property’s size, condition, and other internal factors. In contrast, the market value is determined by external factors such as the property’s location and the current economic conditions.

In conclusion, the market value of a commercial property is a critical factor that investors, lenders, and other stakeholders consider when making decisions about the property. The market value is influenced by both internal and external factors, including the size, layout, quality, location, economic conditions, and local market trends. By understanding these factors, stakeholders can make informed decisions about commercial properties and maximize their returns on investment.

Commercial Real Estate Services

Commercial Roofing Services

Industrial Commercial Property

Feb 20, 2023 admin 0 Comment

In commercial real estate, industrial property is a type of commercial property that is primarily used for manufacturing, warehousing, distribution, or research and development activities. Industrial properties can range in size from small, single-unit facilities to large, multi-tenant complexes, and can be located in a variety of areas, including urban, suburban, and rural settings.

One of the defining characteristics of industrial property is its functional design. Industrial properties are typically designed to accommodate a specific set of activities, with features such as high ceilings, loading docks, and heavy-duty flooring. Additionally, industrial properties often have specialized systems and equipment, such as HVAC, electrical, and plumbing systems, that are tailored to the specific needs of the property’s tenants.

There are several subcategories of industrial property within the commercial real estate industry. Some of the most common types of industrial properties include:

Warehouse/Distribution Facilities: These properties are designed for storing and moving goods and materials, and may feature large, open floor plans, loading docks, and high ceilings.

Manufacturing Facilities: These properties are designed for manufacturing products, and may feature specialized equipment, ventilation systems, and production lines.

Flex Spaces: These properties are designed to be flexible and adaptable to a variety of uses, and may feature a mix of office, warehouse, and manufacturing space.

Research and Development Facilities: These properties are designed for conducting research and development activities, and may feature specialized laboratory and testing equipment.

Data Centers: These properties are designed for housing large computer systems and telecommunications equipment, and may feature specialized cooling and power systems.

When considering investing in industrial property, it’s important to work with a commercial real estate agent who is knowledgeable about the local market and can help you identify properties that meet your specific needs and goals. Additionally, it’s important to conduct thorough due diligence, including inspections and research into the property’s tenant history and potential risks, to ensure that you are making a sound investment decision.

Exploring Industrial Commercial Property: Benefits, Types, and Investment Tips

Introduction

Industrial commercial property is a type of commercial property that is primarily used for manufacturing, warehousing, distribution, or research and development activities. This article explores the benefits, types, and investment tips for industrial commercial property, and is aimed at commercial real estate investors looking to diversify their portfolio and maximize returns.

Benefits of Investing in Industrial Commercial Property

There are several benefits to investing in industrial commercial property, including:

Steady cash flow: Industrial properties often have long-term tenants, which can provide a steady stream of rental income for investors.
Low vacancy rates: Due to the specialized nature of industrial properties, vacancy rates are often lower than other types of commercial real estate.
Strong demand: The need for industrial space continues to grow, particularly with the rise of e-commerce and online shopping.
Appreciation potential: As the demand for industrial space continues to grow, so too does the potential for appreciation in property values.

Types of Industrial Commercial Property

There are several subcategories of industrial commercial property within the commercial real estate industry. Some of the most common types of industrial properties include:

Warehouse/Distribution Facilities: These properties are designed for storing and moving goods and materials, and may feature large, open floor plans, loading docks, and high ceilings.
Manufacturing Facilities: These properties are designed for manufacturing products, and may feature specialized equipment, ventilation systems, and production lines.
Flex Spaces: These properties are designed to be flexible and adaptable to a variety of uses, and may feature a mix of office, warehouse, and manufacturing space.
Research and Development Facilities: These properties are designed for conducting research and development activities, and may feature specialized laboratory and testing equipment.
Data Centers: These properties are designed for housing large computer systems and telecommunications equipment, and may feature specialized cooling and power systems.

Investment Tips for Industrial Commercial Property

When considering investing in industrial commercial property, there are several tips to keep in mind:

Work with a knowledgeable commercial real estate agent who can help you identify properties that meet your specific needs and goals.
Conduct thorough due diligence, including inspections and research into the property’s tenant history and potential risks, to ensure that you are making a sound investment decision.
Consider the location of the property, as well as the local market conditions, to determine the potential for rental income and property appreciation.
Ensure that the property is properly zoned and permitted for its intended use.
Factor in the cost of property maintenance and repairs when evaluating the potential return on investment.

Conclusion

Industrial commercial property can be a lucrative investment option for commercial real estate investors. With steady cash flow, low vacancy rates, strong demand, and appreciation potential, industrial properties offer a range of benefits for investors looking to diversify their portfolio

Commercial Real Estate Services

Industrial complexes in the phoenix metro area.

Sky Harbor Industrial Park: Located near the Phoenix Sky Harbor International Airport, this industrial park features a mix of warehouse, distribution, and manufacturing facilities.

Tempe Commerce Park: Located in the city of Tempe, this industrial park features a mix of light industrial, manufacturing, and distribution facilities.

Phoenix Business Park: Located in north Phoenix, this industrial park features a mix of flex, warehouse, and manufacturing facilities.

Chandler Corporate Industrial Center: Located in the city of Chandler, this industrial park features a mix of light industrial, manufacturing, and warehouse facilities.

Westech Business Center: Located in west Phoenix, this industrial park features a mix of manufacturing, distribution, and warehouse facilities.

Deer Valley Industrial Park: Located in north Phoenix, this industrial park features a mix of light industrial, manufacturing, and warehouse facilities.

These are just a few examples of the many industrial complexes located in the Phoenix metro area. Each complex has its own unique mix of property types, amenities, and location benefits, so it’s important for investors to do their research and evaluate each property based on their specific investment goals and criteria.

Commercial Roofing Services

Which Commercial Property To Buy

Feb 20, 2023 admin 0 Comment

How do you choose what commercial real estate to buy?

Choosing the right commercial real estate can be a daunting task, as there are a variety of factors to consider before making a purchase. These factors include location, size, zoning, and price, among others. In this guide, we’ll provide you with some key insights and strategies to help you choose the right commercial real estate for your business.

The Location For Your Commercial Property.

Location is one of the most important factors to consider when choosing commercial real estate. A good location can make or break a business, so it’s essential to choose a property that is easily accessible, visible, and convenient for customers, employees, and suppliers. Additionally, consider the local real estate market, as well as any potential competition in the area. Choosing a location that is close to similar businesses can be advantageous, as it can help you tap into an established customer base and benefit from synergies and economies of scale.

Size
The size of the commercial property you choose will depend on the needs of your business. Consider the size of your current operation, as well as any potential growth projections, when choosing a property. Additionally, consider any potential future expansion or downsizing needs, as well as any zoning restrictions that may affect the size of the property.

Zoning
Zoning regulations can have a significant impact on the potential uses of a commercial property. Make sure to research the zoning regulations in the area where you’re considering buying a property, and ensure that the zoning allows for your intended use. Additionally, consider any potential changes to zoning regulations in the future, as this could affect the value and potential uses of the property.

Price
Price is always a key consideration when choosing commercial real estate. Make sure to consider both the purchase price and any associated costs, such as maintenance and repairs, property taxes, and insurance. Additionally, consider the potential for appreciation or depreciation of the property over time, as well as any potential financing options that may be available.

Condition
The condition of the property is also an important consideration. Consider factors such as age, maintenance history, and any necessary repairs or upgrades. Additionally, consider any potential environmental issues, such as asbestos or lead paint, which may affect the value and potential uses of the property.

Expert advice
Finally, it’s always a good idea to seek out expert advice when choosing commercial real estate. Consider working with a commercial real estate agent or broker who has experience in the local market and can provide you with valuable insights and guidance throughout the purchasing process. Additionally, consider hiring a lawyer or accountant who can help you navigate the legal and financial aspects of purchasing commercial real estate.

What to Buy, What To Consider When Buying Commercial Property.

Introduction

If you’re considering buying a commercial property, it’s important to conduct thorough research before making a purchase. Researching a commercial property can provide you with valuable insights into the property’s value, potential uses, and any potential issues or challenges that may arise in the future. In this article, we’ll explore some of the key benefits of researching a commercial property before you buy it.

Understanding the Property’s Value
One of the key benefits of researching a commercial property before you buy it is that it can help you understand the property’s value. By researching the local real estate market and comparable properties in the area, you can gain a better understanding of what the property is worth and whether the asking price is reasonable. Additionally, researching the property’s rental income potential, vacancy rates, and historical performance can help you determine whether it’s a good investment opportunity.

Identifying Potential Issues

Researching a commercial property can also help you identify any potential issues or challenges that may arise in the future. For example, you may discover that the property has environmental issues or zoning restrictions that could affect its potential uses. You may also uncover maintenance or repair issues that could be costly to address down the road. By identifying these issues early on, you can factor them into your decision-making process and potentially negotiate a lower purchase price.

Exploring Potential Uses

Researching a commercial property can also help you explore potential uses for the property. By analyzing the property’s location, size, and zoning regulations, you can determine whether it’s suitable for your intended use. Additionally, researching the local market and demographics can help you identify potential tenant or customer bases, which can inform your decision-making process.

Developing a Strategy

Finally, researching a commercial property can help you develop a strategy for maximizing its value and potential. By analyzing the property’s strengths, weaknesses, and potential uses, you can develop a plan for renovations, improvements, or tenant selection that can help you achieve your goals. Additionally, researching the local market and competition can help you develop a marketing or leasing strategy that can help you attract tenants or customers.

In conclusion

researching a commercial property before you buy it is a critical step in the purchasing process. By understanding the property’s value, identifying potential issues, exploring potential uses, and developing a strategy, you can make an informed decision that will benefit your business in the long run. Remember to work with a team of experts, including a commercial real estate agent, lawyer, and accountant, to ensure that you have all the information you need to make the right choice.

Commercial Real Estate Services

Leasing Commercial Property

Feb 20, 2023 admin 0 Comment

Are you looking to buy, rent, or lease commercial property for your business? Whether you’re a startup or an established company, choosing the right commercial space is crucial for your success. However, the process can be daunting and overwhelming, especially if you’re a first-time buyer or renter. That’s why we’ve put together this comprehensive guide to help you navigate the process with ease.

Leasing Commercial Property

Step 1: Identify Your Space Needs
Before leasing commercial property, identify your space needs, including square footage, location preferences, and other requirements.

Step 2: Find Available Properties
Search online, check with commercial real estate agents, and network with other business owners to identify available commercial properties.

Step 3: Schedule Property Visits
Visit the properties you’re interested in to inspect the space, ask questions, and get a feel for the location and community.

Step 4: Negotiate the Lease Agreement
Work with the landlord or property manager to negotiate the lease agreement, including the rental rate, lease term, security deposit, and other terms.

Step 5: Sign the Lease Agreement
Once you’ve agreed on the terms, sign the lease agreement, transfer the security deposit, and prepare to move in.

Conclusion

Whether you’re buying, renting, or leasing commercial property, the process can be complex and time-consuming. However, by following these step-by-step guides, you can streamline the process and ensure you make the right decision for your business. Remember to engage a commercial real estate agent, conduct due diligence, and negotiate the terms of sale or lease to ensure a successful outcome. Good luck!

Leasing Commercial Property For The First Time

Introduction

Leasing commercial property can be a great way to establish or expand your business. However, navigating the world of commercial leasing can be complex and overwhelming. In this comprehensive guide, we’ll walk you through everything you need to know about leasing commercial property, from finding the right space to negotiating lease terms and more.

Finding the Right Space

The first step in leasing commercial property is finding the right space. The first step in leasing commercial property is finding the right space. Location, size, and condition are key factors to consider when choosing a space.

The location of your commercial property can have a big impact on your business, so consider factors like foot traffic, accessibility, and proximity to key amenities when making a decision.

The size of the space you lease will depend on your business’s needs, such as the number of employees, the nature of your business, and your growth projections. Additionally, the condition of the space is also important to consider. You’ll want to factor in the age of the building, any necessary repairs or upgrades, and the overall appearance of the space. Here are some key factors to consider:

Location

The location of your commercial property can have a big impact on your business. Consider factors like foot traffic, accessibility, and proximity to key amenities when choosing a location.

Size

The size of the space you lease will depend on your business’s needs. Consider factors like the number of employees, the nature of your business, and your growth projections when choosing a space.

Condition

The condition of the space is also important to consider. Consider factors like the age of the building, any necessary repairs or upgrades, and the overall appearance of the space.

Negotiating Lease Terms

Once you’ve found the right space, the next step is negotiating lease terms.

Once you’ve found the right space, the next step is negotiating lease terms. This can be an overwhelming process, but understanding the key terms will help you make an informed decision. First and foremost, you’ll need to decide on the lease length. This will depend on your business’s needs and growth projections, so consider factors like the stability of your business, the local real estate market, and your long-term goals when negotiating lease length.

Rental rates will be another key factor in your commercial lease. Consider factors like market rates, rent increases, and incentives when negotiating rental rates. It’s also important to consider the security deposit, which is a sum of money paid by the tenant to the landlord at the beginning of the lease term. This deposit is intended to cover any damages to the property that may occur during the lease term, so make sure to consider the amount of the deposit and the terms of its return when negotiating this term.

Here are some key terms to consider:

Lease Length

The length of your lease will depend on your business’s needs and growth projections. Consider factors like the stability of your business, the local real estate market, and your long-term goals when negotiating lease length.

Rental Rates

Rental rates will be a key factor in your commercial lease. Consider factors like market rates, rent increases, and incentives when negotiating rental rates.

Security Deposit

The security deposit is a sum of money paid by the tenant to the landlord at the beginning of the lease term. This deposit is intended to cover any damages to the property that may occur during the lease term. Consider the amount of the deposit and the terms of its return when negotiating this term.

Repairs and Maintenance

Repairs and maintenance are also an important consideration in any commercial lease. Consider which party will be responsible for repairs and maintenance, as well as the procedures for reporting and resolving maintenance issues. Additionally, if you anticipate that your business may need to sublease the space in the future, make sure to negotiate this term upfront. Consider the restrictions and requirements for subleasing, as well as any additional fees or penalties that may be associated with subleasing.

Subleasing

If you anticipate that your business may need to sublease the space in the future, make sure to negotiate this term upfront. Consider the restrictions and requirements for subleasing, as well as any additional fees or penalties that may be associated with subleasing.

Conclusion

Leasing commercial property can be a complex process, but by following the steps outlined in this guide, including finding the right space and negotiating lease terms, you can make an informed decision.

Commercial Real Estate Services

Renting Commercial Property

Feb 20, 2023 admin 0 Comment

Are you looking to buy, rent, or lease commercial property for your business? Whether you’re a startup or an established company, choosing the right commercial space is crucial for your success. However, the process can be daunting and overwhelming, especially if you’re a first-time buyer or renter. That’s why we’ve put together this comprehensive guide to help you navigate the process with ease.

Renting Commercial Property

Step 1: Determine Your Budget and Requirements
Similar to buying commercial property, the first step in renting is to determine your budget and requirements. This will help you identify suitable properties and avoid wasting time on properties that don’t meet your needs.

Step 2: Research Available Properties
Search online, check with real estate agents, and drive around the neighborhoods you’re interested in to identify available commercial properties.

Step 3: Schedule Property Visits
Arrange property visits to inspect the space, ask questions, and get a feel for the location and community.

Step 4: Negotiate the Lease Agreement
Work with the landlord or property manager to negotiate the lease agreement, including the rental rate, lease term, security deposit, and other terms.

Step 5: Sign the Lease Agreement
Once you’ve agreed on the terms, sign the lease agreement, transfer the security deposit, and prepare to move in.

Renting Commercial Property: A Comprehensive Guide

Introduction

Are you looking to rent commercial property for your business? Whether you’re a small business owner or a large corporation, renting commercial property can be a great way to establish a physical presence and grow your operations. In this comprehensive guide, we’ll walk you through everything you need to know about renting commercial property, from finding the right space to negotiating lease terms and more.

Finding the Right Space

When it comes to renting commercial property, finding the right space is crucial. Here are some key factors to consider:

Location

The location of your commercial property can have a big impact on your business. Consider factors like foot traffic, accessibility, and proximity to key amenities when choosing a location.

Size

The size of the space you rent will depend on your business’s needs. Consider factors like the number of employees, the nature of your business, and your growth projections when choosing a space.

Budget

Your budget will also be a key factor when choosing a commercial property to rent. Consider factors like rental rates, maintenance costs, and utilities when determining your budget.

Negotiating Lease Terms

Once you’ve found the right space, the next step is negotiating lease terms. Here are some key terms to consider:

Lease Length

The length of your lease will depend on your business’s needs and growth projections. Consider factors like the stability of your business, the local real estate market, and your long-term goals when negotiating lease length.

Rental Rates

Rental rates will be a key factor in your commercial lease. Consider factors like market rates, rent increases, and incentives when negotiating rental rates.

Maintenance Responsibilities

Consider the maintenance responsibilities for your commercial property. This can include things like repairs, maintenance, and upgrades. Negotiate these responsibilities upfront to avoid disputes later on.

Conclusion

Renting commercial property can be a great way to establish a physical presence for your business and grow your operations. By following the steps outlined in this guide, including finding the right space and negotiating lease terms, you can make an informed decision and find the perfect commercial property for your business.

Commercial Real Estate Services

Buying Commercial Property

Feb 20, 2023 admin 0 Comment

Are you looking to buy, rent, or lease commercial property for your business? Whether you’re a startup or an established company, choosing the right commercial space is crucial for your success. However, the process can be daunting and overwhelming, especially if you’re a first-time buyer or renter. That’s why we’ve put together this comprehensive guide to help you navigate the process with ease.

Buying Commercial Property

Step 1: Define Your Requirements
Before you start looking for commercial properties, it’s essential to define your requirements. Determine your budget, location preferences, square footage, zoning restrictions, and other key factors that will impact your decision.

Step 2: Engage a Commercial Real Estate Agent
A commercial real estate agent can help you navigate the buying process, identify suitable properties, negotiate the terms of sale, and more. Look for an agent with a strong track record in the commercial property market and experience working with businesses like yours.

Step 3: Conduct Due Diligence
Once you’ve identified a property that meets your needs, conduct due diligence. This may include a property inspection, environmental assessment, title search, and review of lease agreements with existing tenants.

Step 4: Negotiate the Purchase Price and Terms
Work with your real estate agent to negotiate the purchase price and terms, including financing options, closing costs, and contingencies.

Step 5: Close the Sale
Once you’ve agreed on the terms, finalize the sale by signing the contract, transferring funds, and registering the property in your name.

Buying Commercial Property: A Comprehensive Guide

Commercial property can be a great investment for your business, providing long-term stability and potential for growth. However, buying commercial property is a complex process that requires careful planning and research. In this article, we’ll provide a comprehensive guide to buying commercial property, including the benefits of commercial real estate investment, the steps involved in the buying process, and how to make an informed decision.

less Copy code

The Benefits of Commercial Real Estate Investment

Before we dive into the buying process, it’s important to understand the benefits of commercial real estate investment. Here are some of the key advantages:

Steady Income: Commercial property can generate a steady stream of rental income, which can provide stability for your business.
Long-Term Appreciation: Over time, commercial property tends to appreciate in value, providing potential for long-term growth.
Tax Benefits: Commercial property ownership can provide tax benefits, including deductions for depreciation, property taxes, and mortgage interest.
Diversification: Investing in commercial property can diversify your portfolio and reduce risk.
Tangible Asset: Unlike stocks or bonds, commercial property is a tangible asset that you can see and touch.

The Steps Involved in Buying Commercial Property

Now that you understand the benefits of commercial real estate investment, let’s explore the steps involved in buying commercial property:

Step 1: Define Your Requirements

The first step in buying commercial property is to define your requirements. This includes identifying your budget, location preferences, square footage, zoning restrictions, and other key factors that will impact your decision.

Step 2: Engage a Commercial Real Estate Agent

A commercial real estate agent can help you navigate the buying process, identify suitable properties, negotiate the terms of sale, and more. Look for an agent with a strong track record in the commercial property market and experience working with businesses like yours.

Step 3: Conduct Due Diligence

Once you’ve identified a property that meets your needs, conduct due diligence. This may include a property inspection, environmental assessment, title search, and review of lease agreements with existing tenants.

Step 4: Negotiate the Purchase Price and Terms

Work with your real estate agent to negotiate the purchase price and terms, including financing options, closing costs, and contingencies.

Step 5: Close the Sale

Once you’ve agreed on the terms, finalize the sale by signing the contract, transferring funds, and registering the property in your name.

How to Make an Informed Decision

When making an informed decision, there are several factors to consider. Here are some key considerations:

Location

The location of your commercial property can have a significant impact on its value and rental income potential. Look for properties in areas with strong economic growth, good transportation links, and access to key amenities.

Market Trends

Stay up-to-date with market trends and forecasts in the commercial property sector. This will help you identify emerging opportunities and make informed investment decisions.

Property Condition

Consider the condition of the property, including any necessary repairs or renovations. This can impact the purchase price and ongoing maintenance costs.

Future Potential

Look for properties with potential for future growth and development. This could include opportunities to expand the property, redevelop the site, or attract new tenants.

Conclusion

Buying commercial property can be a smart investment for your business, but it’s important to approach the process with care and caution. By following the steps outlined in this guide and considering key factors like location, market trends, and property condition, you can make an informed decision and enjoy the benefits of commercial real estate investment.

Commercial Real Estate Services

What is a REIT?

Feb 2, 2023 admin 0 Comment

Real Estate Investment Trusts (REITs) are companies that own, operate, or finance income-generating real estate properties. REITs are designed to provide individual investors with access to a diverse portfolio of properties, including office buildings, apartments, shopping centers, hotels, and more. REITs typically generate revenue through rental income and, in some cases, property sales. Investors in REITs can earn a share of the income produced by the underlying properties, often in the form of dividends.

Are there any special legal requirements?

REITs are subject to specific legal requirements in order to maintain their tax-advantaged status and operate as investment vehicles. Some of these requirements include:

Structure: REITs must be structured as corporations, trusts, or associations and must be managed by a board of directors.

Asset ownership: REITs must own a large and diversified portfolio of real estate assets, and the majority of the company’s income must come from real estate-related sources such as rental income and property sales.

Distribution of income: REITs must distribute at least 90% of their taxable income to shareholders in the form of dividends.

Shareholder ownership: At least 75% of a REIT’s shares must be owned by individuals or entities that are not affiliated with the REIT.

Capitalization: REITs must have a large and widely dispersed shareholder base, with no single shareholder owning more than 50% of the outstanding shares.

These are just a few of the legal requirements that REITs must comply with in order to maintain their status as investment vehicles. It’s important for investors to carefully research the specific legal requirements of a REIT before making an investment decision.

Are there any REITS based in Arizona?

There are several Real Estate Investment Trusts (REITs) that have operations and properties in Arizona. Some of the largest REITs with a presence in Arizona include:

Simon Property Group: This is one of the largest shopping mall REITs in the world, with several properties located in Arizona, including Arizona Mills in Tempe and SanTan Village in Gilbert.

Public Storage: This self-storage REIT has several locations in Arizona, including facilities in Phoenix, Scottsdale, and Tempe.

American Tower Corporation: This communications infrastructure REIT has a significant presence in Arizona, with several communication tower and rooftop sites located throughout the state.

The top ten Real Estate Investment Trusts (REITs) in the United States, based on market capitalization, are:

Simon Property Group
Prologis Inc.
Public Storage
Equity Residential
Welltower Inc.
American Tower Corporation
Ventas Inc.
Essex Property Trust Inc.
CBRE Group Inc.
Duke Realty Corporation

Top 10 (REIT) focused on the single-family homes
As of my knowledge cut-off in 2021, some of the top Real Estate Investment Trusts (REITs) focused on the single-family rental market in the United States include:

Invitation Homes
American Homes 4 Rent
Progress Residential
Starwood Waypoint Homes
Front Yard Residential
Colony Capital Inc.
Home Partners of America
Altisource Residential
Silver Bay Realty Trust Corp.
FirstKey Homes
Please note that the real estate market and the ranking of REITs can change rapidly, and this list may not reflect the current state of the market.

What about Progress Residential?

Progress Residential is a Real Estate Investment Trust (REIT) focused on the single-family rental market in the United States. The company was founded in 2012 and is headquartered in Scottsdale, Arizona. Progress Residential acquires, develops, and manages single-family rental homes in various markets across the country, providing homes for rent to families and individuals. The company’s portfolio consists of thousands of single-family homes, and it operates a proprietary technology platform to manage its properties and provide services to its tenants. Progress Residential is one of the largest single-family rental companies in the United States, and it aims to provide affordable, high-quality rental housing to its tenants.

The founders of Progress Residential

Progress Residential was founded in 2012 by Donald Mullen Jr. and Joe Notter. Both Mr. Mullen and Mr. Notter have extensive experience in the real estate and financial industries, and they saw an opportunity to create a leading single-family rental company in the United States. Under their leadership, Progress Residential has grown to become one of the largest single-family rental companies in the country, with a portfolio of thousands of rental homes in various markets across the United States.

Who are the customers?

Progress Residential targets families and individuals who are looking for high-quality, affordable rental homes. The company’s portfolio consists of single-family homes in various markets across the United States, and it aims to provide its tenants with a comfortable and convenient living experience. Progress Residential offers a range of homes in different sizes, styles, and locations, making it easier for tenants to find the right home to suit their needs.

The company operates a proprietary technology platform that allows tenants to easily apply for a rental home, pay rent, and request maintenance services online. It also provides 24/7 customer support to its tenants, making it easier for them to resolve any issues or concerns that may arise.

In summary, Progress Residential’s target customer is anyone looking for a high-quality, affordable rental home that is managed and maintained by a professional team.