COVID-19 disruptions are causing business owners to make decisions on the fly as conditions change with little or no warning.
When it comes to Tucson commercial real estate, an established good relationship with a tenant representative makes dealing with those sudden changes a lot easier.
A global accounts receivable firm headquartered in Tucson, Arizona has had a relationship with Commercial Real Estate Group of Tucson for many years.
They were in the midst of negotiating the purchase of a new building for the company, a longtime dream that would end 15 years of leasing Tucson commercial real estate.
Disruption hit with COVID-19 just a few months before that final lease was set to expire. The company closed its office, moved employees to telework and transferred its IT needs to the cloud.
It has turned out that 60% of the employees who worked in the Tucson office now prefer to work from home all the time. Most of the other 40% wanted to limit their office-based work to one or two days a week.
All of a sudden, the building the company wanted to purchase didn’t seem to be the right fit. Company officials felt they needed more time to shake out how the workforce would look like in new Tucson office space.
CREG Tucson immediately ended its efforts to negotiate the purchase of the building. The commercial real estate broker had identified options and worked with architects and contractors to determine IT costs that would be added to the proposed loan.
Instead, CREG Tucson quickly gathered options for a short-term occupancy that would give the firm some breathing room on any purchasing decisions.
The company was able to downsize to a 3,000-square-foot building in a business park with a monthly rate of less than $3,000 monthly. It is saving substantial funds by moving from 8,000 square feet of class B space at over $23,000 a month.
- Establishing a long-term relationship with a Tucson commercial real estate broker can help you in the future. You will have someone who can provide a quick, informed response to sudden changes in your Tucson commercial real estate needs.
- Buy yourself some time to assess a sudden change in business operations. It’s better to pay a short-term cost than to commit to a long-term expense that will not fit your needs after a few months.
Let’s see how we can establish a long-lasting relationship. Contact me for an immediate, complimentary consultation, 520-299-3400.
Read all of CREG Tucson’s case studies.