Neighborly is a community of franchise businesses that focus on repairing and maintaining properties using Neighborly-affiliated home and commercial service brands.
Mr. Rooter, a Tucson Neighborly franchise, sought space for an office, warehouse and large fenced lot for equipment to accommodate its growth into more service sectors.
At the time of its search, high demand for Tucson industrial space and Tucson warehouse space caused citywide vacancy rates to drop to an all-time low of less than 3%, a result of the easing of COVID-19 disruptions.
Despite submitting letters of intent (LOIs) for several potential sites that were less than optimal, Mr. Rooter lost out on locations that received multiple bids.
Commercial Real Estate Group of Tucson persisted in finding appropriate Tucson industrial space, keeping Mr. Rooter apprised of all potential sites that might work out.
Using its extensive network of market contacts, CREG Tucson found a space for sublease just as it came on the market. The original tenant didn’t need the space because of a business merger.
Mr. Rooter’s LOI won out over intense interest in the property. CREG Tucson helped negotiate a sublease contract.
Mr. Rooter signed a lease for space
- that had the required amount of Tucson office space plus rooms to conduct employee training
- a separate warehouse
- approximately 2 acres of fully paved ground.
The contract included tenant improvements and getting access to some of the office furniture left by the vacating tenant.
Persistence and patience won the day for Mr. Rooter, even though at first the company was willing to accept sites that did not fulfill its ideal Tucson industrial space. Give yourself plenty of time to search in a tight market. High competition for sites means it will take much longer to secure a new location.
Hire a commercial real estate tenant representative. Unlike other brokers who show only properties owned by its landlord clients, tenant reps will search far and wide for any space that fulfills your needs.
Keep an open mind about different types of lease arrangements, including subleasing. A broker like CREG Tucson is well skilled in comparing the advantages and drawbacks of these options that are specific to your needs.
Ask for CREG Tucson’s “Relocation Guide” that details the steps to moving into a new Tucson office space, from site search to reopening. Contact me for a complimentary consultation of your relocation needs, +1-520-299-3400.