Road Kill: Tenant Trough, Part 2

Here we are again, with time on our hands to engage in a little Commercial Real Estate Road Kill where we can shoot the breeze about CRE. This is a continuation of my rambling discussion about the current “The Tenant Trough” that is impacting office and retail owners.

This was shot while tooling down Interstate 40 between Flagstaff and Kingman, Arizona. It’s all part of a new feature for this blog entitled CRE Road Kill. Stay tuned for more CRE Road Kill.

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

Northern Arizona Commercial Market

sliceleftThe Northern Arizona commercial real estate market is tracking with the national markets. Leases were up by about 50 percent in 2008 over 2007 while the sales transactions over the same time period decline by about 45 percent.

Prescott, Arizona commercial transactions were weak in the first quarter, in line with Flagstaff and Sedona. The larger commercial real estate market throughout the Central and Northern geographic area continues to show a softening of price with increasing vacancies, especially within markets with smaller retail users.

The investment market is ripe with opportunity and top lenders such as Wells Fargo are making money available to qualified investors on performing properties.

Contact Donald Teel, Arizona Commercial by email or by calling toll free 1-877-777-9100.