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
This property is located on one of Prescott, Arizona’s high traffic internal corridors, Miller Valley Road, with more than 24k vehicle impressions daily. These retail/office spaces are accompanied by the national auto parts chain, Checker Auto. Download the flyer.
Three suites are currently available and are priced at $9.50 per square foot, triple net with graduated annual rent incentives and half rents for qualified tenants. Download the flyer.
Owner is offering graduated lease rates with half-rent incentive for qualifying tenants. Download the flyer.
Watch the short video below to preview this property
For more information about this property, contact Donald Teel by email or, if you prefer by calling 928.777.8100. Visit CommercialWebPage.com. Download the flyer.
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”
