Here is an opportunity to update your market knowledge via a recent online webcast sponsored by Marcus & Millichap, entitled “2010 Office and Industrial Market Outlook and Investment Strategies Webcast.”
The information provided here is better than the far-reaching and biased reports I have read, while giving some real signals as to where the commercial property and capital markets are headed.
Click the image below to be taken to the pre-recorded webcast.
This presentation is Copyright © 2010, Marcus & Millichap and is used for educational and editorial purposes.
Donald Teel is a Senior Associate and Principal with
Arizona Commercial, an Arizona commercial real estate brokerage and property management firm, headquartered in Prescott, Arizona. Need more information? Please call
1-877-777-9100 or, if you prefer, you may
email Donald Teel
2997 Centerpointe East, Prescott, Arizona - Newer Industrial
This is but one example of the tenant-investor opportunities available in the central and northern Arizona market areas.
Centepointe East features the newest industrial property opportunities in the market and this piece is the most affordable of them all.
Property Description:
New free standing industrial building with 3 overhead doors, good parking, in new business park. Ask about Owner terms for potential purchase.
Location Description:
Located off Highway 89A between the communities of Prescott, Prescott Valley and Chino Valley, easy access to 1-40, and 1-17
Lease and Purchase Information:
There are three suites available within this building; Two 1,500 s.f. and one 2,000 s.f. Best of all they are priced at an amazing $0.25 per s.f. per month, plus NNN. In addition, this property can be purchased with a potential seller financing.
Contact me about this property or email me. If you prefer, you may call me toll free at 1-877-380-1000.
One square foot = 0.09290304 m2.
Okay, now what about Prescott, Arizona’s commerical market on a per square foot basis? What does it mean to owners and buyers. Is it time to buy? Is it time to sell? If so, how?
My recent suggestion to my Broker didn’t go over too well. “What we should be doing is pricing property for sellers on a ‘per square yard’ basis and for buyers on a ‘per square foot’ basis,” I said. He grimaced…I walked away.
High Value Market
We are a high value marketplace. Commericial real estate values in Central and Northern Arizona generally and in Prescott, Arizona in particular are declining creating an interesting investor market. Indeed, we appear to be nearing the bottom of the trough and it is and has been for some time…a buyer’s market.
We won’t be changing the marketing analysis to a per square yard formula but the principle behind the notion spells out the reality.
Resisting the Market Realties
Some owner’s are resisting the truth inherent in the current makret realities and in so doing they are actually capitalizing the reduction of their property value.
Continue reading “Prescott, Arizona…Per Square Foot”
