Category Archives: commercial property

“Superfund site” in Payson, cleaned up according to The Arizona Department of Environmental Quality

The Arizona “Superfund site” in Payson, cleaned up according to officials at The Arizona Department of Environmental Quality Department of Environmental Quality (ADEQ), they have removed toxic dry cleaning chemicals that contaminated the groundwater at Cherry and Tonto well sites.

Officials believe, back in the 1980’s, Grand Way Cleaners, in the Bonanza Square shopping center, released chemicals into the sewer system between 1984 and 1988, releasing toxic sludge into the sewer system, contaminating the drinking water to dangerously high levels.Bonanza Plaza in Payson AZ

 

In 2000, the ADEQ added to the registry the Payson site, bounded by West McKamey Street to the north, South Colcord Road to the east, South Meadow Street to the west and West Frontier Street to the south.

 

In 2000, the ADEQ began a comprehensive groundwater monitoring program and tested additional wells in the area. Since 2006, the concentration of contaminants has remained low.

 

The Payson Roundup recently reported that the Arizona Department of Environmental Quality announced it had completed cleanup work, at the “superfund site”, four years ahead of schedule, according to ADEQ, original estimates.

Let me know how I can help you with your commercial real estate needs.

 









 

The views and opinions expressed in this commentary are those of Richard D Chapin, PLLC as of the date of publication and are subject to change, and do not necessarily reflect the views of Arizona Elite Commercial Properties and/or its affiliates.

This information is for informational purpose and not intended to be investment advice, and should be explained to you in detail. You should always seek legal and/or tax advice to obtain further information you deem necessary. I want you to be prepared.

 

Why Limit Yourself to Only One Commercial Real Estate Agent?

One might think having multiple commercial real estate agents competing with each other to locate the “right” commercial property for you to buy or lease would increase your chances of success, but is that the case?20131206_081927

 

I sometimes talk with business or property owners who are reluctant to make any long term commitment with one agent, which is understandable as what if they later find themselves unhappy with their representation and many believe they have the best chance of finding a property if they speak with ten or so agents.

 

What many of these business or property owners don’t understand is that most (all that I am aware of) serious commercial real estate agents all have a premium Loopnet account and CoStar, so they all have access to all the same properties.

 

This being the case, by not committing to have a commercial real estate agent to exclusively represent them, they are actually less likely to find that “right” property.

 

Why do I say that, well put yourself in a real estate agents shoes for a moment.

 

If you were a real estate agent and you had 20 investors or tenants that called you and only two of them are willing to commit to work with you exclusively, who are you going to spend most of your time and effort working to service?

 

Would you, as an agent, run around town trying to get the best deals with clients that are not loyal to you, or concentrate on those buyers or tenants who have selected you to represent them?

 

Yes, in selecting a commercial real estate agent, you need to choose carefully, but you need to choose.

 

Let me know how I can help you with your commercial property needs.









 

The views and opinions expressed in this commentary are those of Richard D Chapin, PLLC as of the date of publication and are subject to change, and do not necessarily reflect the views of Arizona Elite Commercial Properties and/or its affiliates.

This information is for informational purpose and not intended to be investment advice, and should be explained to you in detail. You should always seek legal and/or tax advice to obtain further information you deem necessary. I want you to be prepared.

 

The Builders are Coming Back

Multi-family and single family home builders are coming back to Payson, and not a moment too soon. The housing inventory in Payson is low. I have read of instances of people having difficulty even finding a place to live.

Payson AZ multi-family vacancy rates

Payson AZ multi-family vacancy rates

 

 

CoStar puts multi-family vacancy rate in Payson at 0%. With rates of course increasing.

 

If you are an owner of commercial property you may not see the importance of these new developments to you. You may also wonder, since I focus on commercial properties only, why am I so excited about all these new residential building projects starting up again?

 

A couple of reasons are:

 

It’s much easier to attract a business to relocate or open a branch in Payson and purchase or lease your property if the cost of rent or purchasing a home is within reach for the employees of that business.

 

Another reason is the abundance of affordable housing will enable young people to be able to live in Payson, which will better stimulate the local economy as young growing families have a tendency to spend more of their disposable income compared to older empty nesters who are more inclined to save their money. Causing an opportunity for more new businesses to locate here as well.

 

Commercial builders will no doubt eventually follow, obviously if you have commercial property you would like to sell or lease, an aggressive targeted marketing campaign is important to your success.

 

Simply listing and advertising a commercial property similar to how you would to sell or rent a house, might work eventually, but if “eventually” is too long, you may be competing with nice shiny new commercial buildings in the market.

Let me know how I can help with your commercial real estate needs.









 

 

The views and opinions expressed in this commentary are those of Richard D Chapin, PLLC as of the date of publication and are subject to change, and do not necessarily reflect the views of Arizona Elite Commercial Properties and/or its affiliates.

This information is for informational purpose and not intended to be investment advice, and should be explained to you in detail. You should always feel free to consult a legal and/or tax adviser to obtain further information you deem necessary. I want you to be prepared.

 

Commercial Property Owners Now Have Another Option!

 Owners of commercial property in Payson Arizona no longer have to go 90 plus miles away to find a commercial real estate agency.

If you are an owner of Commercial property, you know that the similarity between residential property and commercial property ends with the word “property”. I guess that would explain why the bulk of the for sale or for lease signs on commercial property in Payson, have phone numbers of commercial real estate brokerages many miles from Payson.

 

The good news is owners of commercial property in Payson no longer have to go 90 plus miles away to find a commercial real estate agency that focuses on commercial real estate.

 

Because we too understand, that selling and leasing commercial property is nothing like residential property, Elite Commercial has recently opened a commercial real estate branch office in Payson so you can benefit from the marketing knowledge and resources of a commercial real estate brokerage and also benefit from our local presence in Payson.

 

You know, and we also know, that mass marketing on a residential MLS works for selling houses, but those same mass marketing strategies produce poor results when attempted in selling or leasing a commercial property.

 

Because we know that mass marketing will not work (at an acceptable level) for commercial property, target marketing is the primary focus to market commercial property.

 

We also realize the importance of an internet presence, but rather than submit commercial properties for sale or lease on a residential MLS (that very few commercial agents even subscribe to) at Elite Commercial, we list commercial properties on commercial property listing services and databases (where commercial agents, buyers and tenants look for commercial property) like CoStar and Loopnet.

 

It is important for you to be aware, at Elite Commercial, we subscribe to both CoStar and an Unlimited Premium Loopnet account, that is of extreme benefit to you because many residential agents don’t subsribe to CoStar and (if they actually even have a Loopnet account) only have a (Free) Basic membership on Loopnet.

 

What that means to you is that according to Loopnet “a premium Lister’s listings get 10X more exposure than a Loopnet basic member.

 

Bottom line the Elite Commercial Payson branch office can benefit you as a commercial real estate agency, with valley resources and with a local presence.

 

Let me know how I can help you with your commercial properties.









This information is for informational purpose and not intended to be investment advice, and should be explained to you in detail. You should always feel free to consult an attorney and/or tax adviser to obtain further information you deem necessary. I want you to be prepared.

Are You Out of Touch, Or is it just Me?

 Is it best practice to interrupt my client I am meeting with, when they are speaking, so I can answer my cell phone or reply to a text or read an email?

Do you mind if I answer my cell phone when you and I are in a meeting?

Being in the commercial real estate business, I generally find myself in meetings with property owners or business owners who’s schedules are very busy.

I respect their time and truly appreciate their taking time out of their busy schedule to meet with me and as such I have made it a point to shut off or put my cell phone or put it on vibrate and not answer my cell phone or read my texts or emails when I am in a meeting with them.

I instead check and respond to any texts, emails and voice mail messages that may have come in during our meeting right after the meeting.

Apparently not everyone believes this is the proper way to handle communications these days.

I recently read a post on social media by a residential real estate agent I know ( not just Facebook “friends”) who regularly boosts about how he always answers his phone (even when with clients).

In my opinion if you are at a meeting or meal, and you answer a call, you’re basically telling the person you’re meeting with that someone else is more deserving of your time than they are.

There is always a rare exception of course. A couple of years ago my dad was in the hospital scheduled to have bypass surgery in a couple days. I was flying out the day before but was still meeting business owners to discuss commercial real estate two days prior. I briefly explained the situation and apologized in advance that if the phone vibrated I would answer it. (fortunately it didn’t)

I believe if you are expecting an important phone call during your meeting and there’s no way you can reschedule it, then make sure to let the person you’re meeting with know ahead of time.

This isn’t the best scenario, but if it happens, you can say “I have to answer this” and briefly explain why before taking the call.

Am I out of touch, is it best practice to interrupt my client I am meeting with, when they are speaking, so I can answer my cell phone or reply to a text or read an email?

If so I apologize in advance if you try to call me and get a voice mail, and it takes me 20 minutes or an hour or so to call you back.

If someone schedules in advance, time out of their busy day to meet with me, I appreciate and respect their time.

Let me know how I can help you with your commercial real estate needs. If I don’t answer the phone, I will call you back as soon as I can and also give you the undivided attention you deserve.

 

The Corner on the Most Heavily Trafficked Intersection in Payson is No Longer Available.

The commercial property at the busy intersection in Payson is no longer available.

The tearing down a long-vacant restaurant at the busy intersection of Highways 87 and 260 to make way for a Carl’s Jr. restaurant in Payson.

Earlier this week, crews started tearing down a long-vacant former Chinese restaurant, that has sat empty for the better part of the last decade.

I noticed the other day, on the Payson Roundup’s Facebook Page, many people expressed disappointment, that the most prominent piece of commercial property in Payson will host a fast food joint and not a sit-down family restaurant.

While several expressed they had wished a Panda Express moving to town, undoubtedly, I think most everyone would agree, anything is better than an old abandoned commercial property.

Carl’s Jr is a fine establishment and I have now doubt they will find much success in the Rim Country and I am sure the people of Payson will welcome them with open arms.

Let me know how I can help you with your commercial property needs.

 









This information is for informational purpose and not intended to be investment advice, and should be explained to you in detail. You should always feel free to consult an attorney and/or tax adviser to obtain further information you deem necessary. I want you to be prepared.

 

The Main Reason Not to Wait till the Last Minute, to Search for Property for a Commercial Lease.

It is important to maintain a strong position when negotiating your commercial lease.

It’s not that I am suggesting not waiting to start your search for Commercial propertyoffice building chandler az to lease because inventory is shrinking, although it could be another reason not to wait. It is because sometimes the commercial leasing process may take longer than we might think it should.

 

In the past few weeks, I have had a number of business owners wanting to find property to move into in a week or two. I find it encouraging the number of people that want to start up a new business. I just wish some of them would consider the advantages planning ahead a little longer.

 

Now of course anyone that has been in business for any length of time knows of course that leasing a commercial property is nothing like simply renting an apartment of course but, sometimes the commercial leasing process takes a lot longer than we would expect and I believe it is good to be prepared it case that happens.

 

It is possible to move into a move-in ready property that requests no tenant improvements in a relatively short period of time, however, if you want more options available (perhaps considering a gray shell), the process could take considerable longer, I have worked on a commercial lease took about twice as long as I would expect, just a simple vanilla shell retail space that took over 2 months just to get from the initial LOI to signing the lease.

 

I would suggest not waiting till you are in a desperate time crunch to start to search for a commercial property to lease. Think about it if you are desperate, who do you think has the most leverage in the negotiations?

 

It is a good idea to be prepared in the event the commercial leasing process you may have thought would take 3 months to complete may take 6 months so be prepared just in case, don’t wait until a week before your current commercial lease is up to start your search for your next commercial property to lease.

 Let me know how I can help you search for your commercial property to lease.

 









This information is for informational purpose and not intended to be investment advice, and should be explained to you in detail. You should always feel free to consult an attorney and/or tax adviser to obtain further information you deem necessary. I want you to be prepared.

 

Why Pay a Commission to Sell Your Commercial Property?

Do you think selling your commercial property yourself really save you money? Really?

I understand, we all want free stuff, but how much will it cost you to sell your commercial gilbert office condoproperty without a commercial real estate professional?

Going down to the local Walmart and buying one of those little red and white for sale by owner signs may work ( I would still recommend help from a residential real estate professional ), to sell a house. But that little red and white for sale by owner sign will be even less effective with a commercial property.

A commercial property is not a house, just think about it, I bet 100% of the people you know have a strong desire to live indoors ( you can’t get a bigger market than that). The percentage of people you know that have a strong desire to buy a commercial property is, wow, unless you are in the commercial real estate business, you likely can count them all on one hand.

Target marketing is required to successfully market a commercial property, mass marketing , like you do with houses for example is not enough, because the masses have no need.

I talked to a nice gentleman the other day that had put one of those red and white for sale by owner signs in the window of his commercial property. After a year and a half, all that has happen is the phone number he wrote with a black marker on the sign has faded, to the point it is difficult to read.

He didn’t seem to be concerned about the the building being unsold and vacant for over a year and a half, after all it is paid for so it wasn’t costing him anything to sit there, right.

What about taxes? What about insurance? Oh that’s true, money going out and no money coming in, sounds more like a liability than an asset! That may be a reason to pay a commission to have the building actually marketed by a commercial real estate professional.

Let me know how I can help you with your commercial property needs.









This information is for informational purpose and not intended to be investment advice, and should be explained to you in detail. You should always feel free to consult an attorney and/or tax adviser to obtain further information you deem necessary. I want you to be prepared.

 

Phoenix area Business Executives are growing more confident about Business Growth.

Phoenix-area business executives are optimistic about business growth in the third office condo gilbertquarter. This despite the bad news that the official national unemployment rate ticked up to 7.6% in May. The Bureau of Labor Statistics (BLS) did show, however 178,000 private sector payrolls were added in May.

 

The good news is there were minor increases in consumer spending, according to a self-reporting poll from Gallup, U.S. consumers spent more money in May than in any month since October 2008.

It was reported in the Phoenix Business Journal, according to the latest survey from Robert Half International in their  “Phoenix Professional Employment Forecast found that 83 percent of Phoenix chief financial officers expressed confidence in their company’s growth potential this quarter, with 42 percent saying they are very confident.”

 

While confidence in business growth potential in the Phoenix area is strong, Only 19 percent of Phoenix-area CFOs reported that they have plans to add new professional-level positions in the third quarter.

 

This information is for informational purpose and not intended to be investment advice, and should be explained to you in detail. You should always feel free to consult an attorney and/or tax adviser to obtain further information you deem necessary. I want you to be prepared

 

Phoenix area Retail and Office Building Construction for the First Quarter of 2013

In the first quarter of this year, no new space was completed in the Phoenix area Office n gilbert low rise office buildingmarket, however there were seven buildings totaling 88,451 square feet completed in the Phoenix area retail market.

Additionally, 15 buildings with 542,958 square feet were completed in fourth quarter of 2012, 10 buildings totaling 138,438 square feet completed in third quarter of 2012, and 188,995 square feet in seven buildings completed in second quarter 2012. bring the total to 968,842 square feet of retail space that has been built in the Phoenix area in the past four quarters.

 

 

And while there was no new office space completed in the Phoenix area in the first quarter of 2013 there were 256,270 square feet of office space under construction at the end of the first quarter 2013. additionally, four office buildings totaling 234,079 square feet that were completed in the fourth quarter of 2012, five office buildings totaling 77,617 square feet were completed in the third quarter of 2012 and 160,738 square feet in three buildings completed in the second quarter of 2012.

 

 

Of the 8,090 office building inventory in the Phoenix area as of the end of the first quarter of 2013, 250 office buildings were Class A office buildings (3%). There were 4,469 Class B office buildings (55%) and 3,371 office buildings were Class C (42%). Within the Phoenix area office market there were 791 of the 8091 buildings were owner-occupied buildings (9.7%).

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This information is for informational purpose and not intended to be investment advice, and should be explained to you in detail. You should always feel free to consult an attorney and/or tax adviser to obtain further information you deem necessary. I want you to be prepared