Commercial Real Estate in Arizona
Commercial Properties for Lease in Arizona
Finding the perfect commercial space is a critical step for any business, whether you’re a burgeoning startup or an established enterprise looking to expand. The right location, size, and lease terms can significantly impact your operational success and long-term growth.
At Century 21 Northwest Realty, our Commercial Leasing Program is designed to simplify this complex process, offering tailored solutions and expert guidance to help businesses secure ideal office, retail, or industrial spaces in Arizona.
What are the key benefits of Century 21 Northwest Realty’s Commercial Leasing Program for businesses seeking office, retail, or industrial spaces?
First, our professionals specialize in distinct industry verticals: retail, industrial, and office. This ensures you collaborate with experienced individuals who comprehend the unique challenges and are prepared to address them effectively. Secondly, our compensation is directly linked to client success, meaning we receive payment only when the client achieves their desired outcomes in their space transition. Finally, we offer a robust third-party network, providing essential resources such as architects, space planners, and other external contractors, to facilitate a seamless and successful project completion.
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How does Century 21 assist clients in navigating the complexities of commercial leasing, from property selection to lease negotiations?
It starts with a needs analysis. We like to meet with our clients and, if at all possible, meet with them in their existing environment, walk through the challenges that they’re having with their space, what’s working, what’s not working, really understand the operational idiosyncrasies, how communication flows, etc. Once we’ve got that, we’ve got a really good idea of what the client needs, and then we move on to informing them of what the market is bearing currently. We go over the type of space, the size of space that they’re going to initially need, what that looks like from a pure cost standpoint, what most investors or owners are willing to do to assist with tenant improvements, etc. From there, we develop a list of options that meet all those criteria. We walk through them. And then once that’s developed, we actually set up site tours. We tour the properties. We help them find a property that’s going to best fit their individual needs. We discuss a budget for what it may take to do the tenant improvements and get everything exactly the way their operation needs it. We then begin our preliminary negotiations with the landlord to make sure that he’s willing to contribute the necessary repairs or at least a portion of them. We build out a budget for the client so they know exactly what it’s going to cost, not just on a per-month basis, but the cash it will require to come into the business. And lastly, we negotiate the lease for them, all of the terms. Make sure that every i is dotted and t is crossed, and that they know exactly what each of the stages is, what their responsibilities are, what the landlord’s responsibilities are, and how that relationship will go. And then finally, we calendar all of those key dates so that we can follow up with the tenant on an ongoing basis for future relationships, so that they know when their lease is coming up, when an option is popping up, or when maybe it’s even time to look to add space or to find a new location entirely.
Can you share a success story where the Commercial Leasing Program helped a business find the perfect space in Arizona?
We had a retail client, a household name in the thrift space, come to us, and they were looking for a space in an interior downtown location. They were really clear on the demographics that they were looking for. They were pretty clear on the traffic counts, less clear on the actual space. They had some square footage requirements and some parking access requirements. And we took that, and we found a space that didn’t meet all of the boxes. It didn’t check them all, but it was so good in the two main ones, drive-by traffic and demographics, that we were able to convince them to take a risk. It had some additional offerings, the space provided that were unique and didn’t fit in with what they would normally operate, specifically a built-in coffee shop. We were able to convince them to at least take a look at the space. We looked at it, and we were able to sell the vision to them of what this could mean for their business. And it turns out they’re now 3 years in. It’s been a 3x and they believe in the next two years a 5x on revenue compared to their other locations. And it’s helping them rethink their model in general for what this site brought. We were really proud of being able to participate in that, and it worked out so great for them. And that’s really the key for us, that’s a differentiator. We’re invested with our clients for the long term. We want their success. We want to make sure that they come back to us and utilize our services again and again.
What types of commercial properties (e.g., retail, office, industrial) are most in demand in Arizona, and how does the program meet these needs?
Retail and industrial are both blowing off the shelves at the moment in Arizona and will be for the long-term horizon. There’s always going to be new businesses forming. Lots of client demand. We’ve got great density here. But one of the things that we’re really excited about is what’s happening with onshoring business and how that impacts our industrial base. To be out in front of that, we are meeting with every owner valleywide that’s got space, every investor that’s looking at this space, so that we have relationships upfront. We know what their needs are, so when our leasing clients come to us, we already know where the product is. We already know what the needs of the investors and owners are, and we can make those matches happen. And that’s where the real magic is.
How does Century 21 ensure lease terms align with a client’s business goals, such as flexibility or long-term stability?
Flexibility and long-term stability are the two yin and yang of any leasing arrangement. What we do to try to bring stability to that is we try to do shorter-term leases wherever we possibly can, but get the tenant the rights for extensions. A typical example of that is we’ll do a three-year lease with three three-year extensions. The tenant is in a long-term position. They’ve got 12 years of control, but every 3 years they get to decide, do I want to expand this? Do I want to stay here? Do I want to look elsewhere? It really puts the tenant in the driver’s seat from that perspective. And that’s the balancing act that we’re always looking to play when representing a tenant.
What are the most common challenges businesses face when leasing commercial properties, and how does the program address them?
One of the most common challenges that businesses face is that they all understand the monthly rental rate. That’s something that’s pretty simple and straightforward. A lot of them misunderstand the buildout and the costs that go into making their space perfect for them. Construction, moving walls, adding walls, and adding bathrooms can get really expensive. Those are called tenant improvements. And we try to help the client define those upfront before we ever get to negotiating a lease, long before that. Really have an idea of what those costs are. And then we try to go and negotiate with the landlord for as much of that cost, if not all of that cost, to be paid for by the landlord. Now, landlords in general will invest in their own building. The longer the lease, the more they’re usually willing to give. However, a lot of tenants don’t realize that it is a big capital expense, some of which will be borne by them. So, that’s just education, but it’s also providing really good information, bringing our subs in, getting an idea of what that cost is going to be, so that they’ve got really good numbers to operate off of.
How does the Commercial Leasing Program integrate with other Century 21 services?
It’s seamless to the tenant. For one, it really helps our professionals, our leasing professionals. They already come to the program with a great history and a great experience level. They have great contacts and a database that will help them overcome any challenges that the tenant may face. But it also means that we have access to properties that are otherwise unknown on the market. We have a long laundry list of landlords that we’re working for. Sometimes we know of properties that are coming on the market before they even hit the market. Working with us as a tenant rep, we’ve got access to products and services that other organizations just won’t have.
What sets Century 21 Northwest Realty’s Commercial Leasing Program apart from competitors in Arizona’s commercial real estate market?
The experience and the training that come with the individuals who have been trained in your specific asset class. Our global affiliation with our parent organization, Century 21, and the respect that brings to the marketplace, as well as being affiliated with an organization that’s already vertically integrated and offers a one-stop shop of leasing, sales, and property management.
Commercial Leasing with Century 21 Northwest
Ready to find the ideal commercial space for your business in Arizona? Contact Century 21 Northwest Realty today to leverage our expertise, specialized industry knowledge, and extensive network. Let us simplify your commercial leasing journey and help you secure a space that drives your success and long-term growth.