Phoenix Commercial Rental Space Dos and Don’ts

Rowe and Associates

Finding the perfect commercial real estate space is essential for any business, whether you’re a seasoned entrepreneur or an exciting new startup. To help you successfully navigate the leasing market in the Valley of the Sun, here are some essential dos and don’ts to keep in mind when searching for your ideal Phoenix commercial rental space.

Don’t Rush the Process

  • Take Your Time: Finding the perfect space takes time and effort. Don’t feel pressured to rush into a decision based solely on limited options.
  • Consider Long-Term Needs: Project your business’s growth trajectory. Will your current space needs accommodate future expansion?

Do Your Research

  • Know Your Market: Phoenix boasts a variety of commercial districts, each catering to specific industries. Research areas that align with your target clientele and business type. The Greater Phoenix Economic Council provides valuable resources on different commercial districts within the city.
Phoenix Commercial Rental Space Dos and Don'ts
  • Understand Rent Benchmarks: Renting in a prime location comes at a premium. Resources like CoStar or LoopNet can help you gain insights into average rental rates for your desired space and size.

Don’t Underestimate Additional Costs

  • Look Beyond Rent: Factor in additional costs, like property taxes, utilities, maintenance fees, and potential renovations.
  • Plan for Unexpected Expenses: Allocate a buffer in your budget for unforeseen expenses that may arise during the lease term.

Do Be Clear About Your Needs

  • Create a Detailed Checklist: Outline your essential requirements, such as square footage, accessibility, parking availability, internet connectivity, and zoning restrictions.
  • Communicate Clearly: Convey your needs and expectations clearly to your commercial real estate broker to ensure they present the most suitable options.

Don’t Skip Insurance

  • Protect Your Business: Even as a renter of a business space, you still need to secure adequate insurance coverage for your business, including property damage, liability, and business interruption.

Do Schedule Thorough Inspections

  • Inspect the Space: Before signing a lease, conduct a thorough inspection of the property. Look for any potential problems like structural issues, electrical deficiencies, or plumbing leaks.
  • Document Everything: Take detailed notes and photographs during the inspection. This will be crucial if you encounter issues after move-in.

Don’t Go it Alone

  • Seek Professional Guidance: Negotiating a commercial lease can be complex. An experienced real estate broker can review the lease agreement and ensure your interests are protected.

Do Contact Rowe and Associates

Here are four reasons why you should choose Rowe and Associates when you are ready to lease a space for your business in Phoenix: 

  1. Seamless Transactions: Our team of experienced commercial real estate professionals will guide you through every step of the leasing process, ensuring a smooth and successful transaction.
  2. Tailored Service: We understand that each client’s needs are unique. Our concierge approach allows us to delve into your specific requirements and craft a personalized strategy tailored to your rental goals.
  3. Market Expertise: Rowe and Associates possesses in-depth knowledge of the Phoenix commercial and industrial real estate rental market. This expertise empowers us to identify current trends and local regulations.
  4. Negotiation Power: A good broker represents your interests and can leverage their experience to negotiate favorable lease terms.
  5. Stress-Free Experience: We understand the complexities involved in commercial and industrial real estate leasing transactions in Phoenix. Our dedicated team will handle the heavy lifting, allowing you to focus on running your business.

By following these dos and don’ts, you can navigate the Phoenix commercial rental market with confidence and secure the perfect space to propel your business forward. Remember, a well-considered decision and the assistance of an experienced agent and broker will contribute significantly to your company’s success in the vibrant Phoenix business landscape. Contact Rowe and Associates today to take the next step in your commercial rental space journey.