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Archive for March, 2010

Meridian Idaho Commercial Real Estate for Lease – Jade Plaza


Jade Plaza
is a 13,500+ square feet retail building in the Silverstone Business Campus in Meridian, Idaho, that provides excellent exposure and access to Overland Road with a traffic controlled intersection for ingress and egress. Great location for eatery or high traffic service user. Eagle Road located half a block west, is the highest volume road in the state, with
the exception of I-84 Connector

Jade Plaza
3679 E. Overland Road
Meridian, Idaho

Building Size: 13,513 square feet
Zoning: CC
Year Built: 2005
Site Area: 1.72 acres
Number of Floors: One
Parking: 5/1,000 usable square feet
Construction: Wood frame and glass with 6-inch square steel columns
Roof: Single ply EDPM roofing system on 2 layers of 1 ½ polyiso board on metal decking and bar joists framing system with vapor barrier
Floor Construction: 4” reinforced concrete slab over 18” compacted base
HVAC: 5-ton gas-fired carrier rooftop units. 100,000 BTU; 2,000 CFM
Ceiling: Lay-in acoustic ceiling panels in 2’x4’ T-bar ceiling grid with indirect and recessed lighting
Ceiling Height: 10 feet in office areas
Restrooms: Shared or private tenant restrooms throughout
Life Safety: Wet pipe fire protection system with alarm valves with Fire Department Connection
Miscellaneous: The building has stone veneer wainscot with white window frames and tinted glass. There is extensive perimeter and site landscaping; distinctive entry portals at signaled intersections on Eagle Road as well as
Overland Road; consistent architecture throughout the park

About The Sundance Company
Established in 1976, The Sundance Company has the experience to help you with your commercial real estate needs in Boise, Meridian, Nampa, and the greater Treasure Valley. If your requirements include property management, leasing, real estate development, project planning, construction or space planning then look to us. The Sundance Company has more than 1.5 million square feet of office and industrial space available in prime Boise and Meridian locations. More information available at www.sundanceco.com or 208.322.7300.

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Customized Commercial Real Estate Options in the Boise Valley

Since 1976, savvy tenants and buyers have looked to The Sundance Company for development; office, warehouse, and retail leasing; property management; build-to-suit/construction; and land and building sales. With more than 1.5 million square feet of prime office and industrial space in the greater Treasure Valley, The Sundance Company has the size and diversity to avoid the need for a “one-size-fits-all” approach — thereby assuring customized solutions that are genuinely tailored to each client’s needs.

For more information about The Sundance Company’s customized solutions in The Treasure Valley please click one of the links below or call 208.322.7300.

Office Space for Lease in Boise

Industrial Space for Lease in Boise

Retail Space for Lease in Boise

Office Space for Lease in Meridian Idaho

Industrial Space for Lease in Meridian Idaho

Retail Space for Lease in Meridian Idaho

Increase Productivity in Your Commercial Office Space

Many companies can experience an all-time low in productivity and morale due to the state of the economy and the pressure each business is under. That pressure can quickly trickle down through the commercial office space at all levels, adversely affecting companies hard.

So, if your office space is currently suffering from morale and productivity problems, then now is the perfect time to reignite the excitement and enthusiasm in your team and really make them feel as though they are a part of something great! But how do you do that? Here are some simple steps to help turn around staff morale and productivity.

Listen to Staff
One thing many businesses forget to do is listen to their staff. It sounds so simple, but rarely are team members given the luxury of speaking their mind and really sharing their thoughts and concerns.  To get started, send out a company-wide survey asking all the hard questions. Be quite specific with your questions, allow staff to fill it out in work hours and keep the surveys anonymous so that you can get complete honesty from your team. Once you have collated the answers and can see which areas need to be fixed comes the next step…

Create a New Workplace Strategy
You’ll now be able to see all the real problems your team are facing, which is a great start. But now you know the issues, what are you going to do to fix them?  Develop a strategy to combat the main problem areas and also an implementation plan. Then you’re ready to do the third step …

Communicate in the Office Space
It’s important to remember that staff members will respond to company efforts when you communicate with them and have an open and honest dialogue. When sending out communications, whatever the form, always mention the problem but then focus on the solution. This will give staff a reason to believe that these solutions are important and will be actioned.

Implement the New Workplace Strategy
Now that you have discovered the problems staff are facing in your commercial office space, figured out how to solve them and communicated this to the company, the most important thing to do is actually implement the solutions. If you don’t “walk the walk” you could be faced with even more disgruntled staff and a bigger problem that what you started with.

Please check out The Sundance Company website to view property photos, search for office space or learn more about Sundance’s start-to-finish capabilities. If you prefer to talk to someone in person about your commercial real estate needs, then just give us a call at our Boise office, (208) 322-7300

Commercial Lease Calculation Tools

Commercial and retail leases use various rental pricing methods. The decision as to which commercial lease calculation method to use is frequently related to the type of tenant business. It could also have to do with the economy, balancing a need to retain an occupant with their ability to pay based on their business revenues.

Rent per square foot – Rent is set at $xx.xx per square foot of the leased space. This can be expressed either as an annual or a monthly amount.

  • Example with annual quote: A 2200 square foot office space is quoted a rent of $11.50 per square foot. 2200 X $11.50 = $25,300 per year for rent.
  • Example, same building and rent for monthly amount: 2200 X $11.50 = $25,300 Divide by 12 months to get a monthly rental amount of $2108.33.

Percentage Lease – Retail volume can vary significantly due to many factors, including the economy and also location. For this reason, it is a common practice for a landlord, in their commercial lease calculation, to determine a base rent that they absolutely need, and then to have the tenant pay a percentage of their retail gross income in addition to the base rate. This is logical as, if the location is a good one, then retail sales should rise and enable the tenant’s ability to pay higher rent. There are two ways in which the percentage is normally calculated:

  • Minimum base rent + percentage over a certain base amount: In this case, the tenant pays a minimum base monthly rent, and then adds a percentage of all gross receipts over a certain base amount. Example: $1000 per month base rent, and 5% of all gross receipts over $50,000 per month. Using one month’s gross receipts of $72,000, we do the calculation this way:
    $72,000 – $50,000 = $22,000. $22,000 X .05 = $1100. $1100 + base of $1000 = month’s rent of $2100.
  • Minimum base rent + percentage of all gross receipts: Here, we don’t set a bottom line revenue before the percentage kicks in. Rent is paid on all gross receipts from $zero. Example: $500 base rent + 2% of gross business receipts. If we use the previous numbers, we’d take 2% of the entire $72,000 and add that to the base rent, as here:
    $72,000 X .02 = $1440. $1440 + $500 = monthly rent of $1940.

About The Sundance Company
Established in 1976, The Sundance Company has the experience to help you with your commercial real estate needs in Boise, Meridian, Nampa, and the greater Treasure Valley. If your requirements include property management, leasing, real estate development, project planning, construction or space planning then look to us. The Sundance Company has more than 1.5 million square feet of retail, office, and industrial space available in prime Boise and Meridian locations.

Please check out The Sundance Company website to view property photos, search for office space or learn more about Sundance’s start-to-finish capabilities. If you prefer to talk to someone in person about your commercial real estate needs, then just give us a call at our Boise office, (208) 322-7300

Top Tips for Prospective Metro Boise Office Tenants

The process of leasing industrial space of business office space in the Boise metropolitan area can be complicated, time consuming and, often, perilous.  But, these lease tips for tenants can help.  Leasing commercial office space, whether for a relocation, renewal or expansion is an important business decision that creates significant long-term overhead costs.  For most companies, the cost of facilities is second only to employees’ salaries and wages.  A building needs to work well for your business, and the lease document needs to accurately define, document and apportion the proposed costs.

  1. Carefully analyze how much office space your business needs.
    Leasing too much space can be an expensive mistake, costing thousands of dollars per year. But leasing too little space can also be a serious problem that can impede your business’ future growth. You can get a handle on your space needs by engaging an experienced Interior Architect to prepare a space inventory or “Space Program.” The Space Program will help identify the space needed by various departments and work groups in your business. You may be able to identify future growth needs and structure your lease to accommodate your expansion needs.
  2. Decide up front on the geographic boundaries for your building search.
    Important factors to consider include proximity to current as well as future employees.  Is visibility or easy highway access important?  For instance, do your employees travel often to customer sites or to the airport?  Might you consider avoiding inconvenient major roadway construction?  Do you receive lots of client visits, where easy directions are important?  Do you need a specific city or county mailing address?  Is it critical to maintain your current phone number?
  3. What type of building or office space do you need?
    What kind of image do you want to project to your clients and employees?  Do you prefer a traditional multi-story office building with a common lobby entrance and shared restrooms?  Or would you prefer a single-story R&D/Flex-type of facility with a separate entrance and perhaps a drive-in door in the back?  Traditional office buildings offer space on a Rentable Square Foot (“RSF”) basis while utilizing a Common Area Factor (“CAF”) of approximately 10% to 15%.  This CAF is added to the Usable Square Footage (“USF”) of the actual area you occupy and accounts for the square footage of the shared building lobby, hallways and restrooms.  In single-story R&D/Flex buildings, since Tenants have their own entrances and typically provide their own restrooms inside their premises, so no CAF is added to the USF.
  4. Does your company have special needs?
    Examples of special needs include heavy parking, fiber optic telecom connections, redundant or back-up power feeds, back-up emergency generators, exterior signage, above standard electrical power or heating, ventilation and air conditioning (called “HVAC”), high ceilings, dock-high or drive-in doors and/or specialized lab or clean room equipment.  It is critical to identify your “must have” requirements early, because these issues may be impossible or very expensive to address later.  The absence of just one of these highly variable factors may eliminate an otherwise acceptable building.  It’s much better to address these issues up front, not months into the process.
  5. What is included in the Landlord’s rental rate?
    It is very important to understand that not all buildings are priced using the same format.  Many traditional office buildings offer leases on a “Full Service” or “Gross” basis, meaning that the quoted price of $x.xx per square foot per year includes all “Building Operating Expenses,” i.e. property taxes, insurance, common area maintenance, janitorial services and utilities.  These buildings usually offer a “Base Year” for Operating Expenses with the Tenant paying for annual escalations (increases) that exceed the cost of Operating Expenses in the Base Year, which is most often the calendar year when the lease begins.

    Other buildings, including most industrial, R&D/Flex buildings and some office buildings, offer Tenants what is called a triple net (“NNN”) lease.  In a NNN lease, the Tenant pays a Base Rent, plus all Operating Expenses for property taxes, insurance and common area maintenance.  However, in a NNN lease, the Tenant usually contracts for and pays separately for its own janitorial and utilities.  It can get confusing though, because some Landlords structure their office leases in a hybrid fashion by using a combination of Gross and NNN methods.  The important thing is to understand exactly who is paying for what and to make sure that this is clearly described in the lease document.

  6. Understand the “real” costs of constructing your improvements.
    Because it is rare to find space that perfectly fits your requirements, there is usually some interior construction required to reconfigure the space for your use.  Such construction is known as Tenant Improvements (“TIs”), Tenant build-out or Tenant finish-out.  These TIs can range from relatively simple new paint and carpet installation, costing $3.00 to $5.00 dollars per square foot, to extensive new construction — especially if you consider leasing “raw” or “shell” space that has never been built-out — which can cost $25.00 to $60.00 per square foot.The key point to understand — before your office lease is signed — is what the proposed build-out will cost, and to be clear on how much responsibility the Tenant will have for these costs.  Landlords typically offer a TI Allowance of $X per square foot that is included as part of your quoted lease rate.  The TI Allowance is  subject to negotiation and typically increases with the length of the lease term.  If needed, “extra” TI Allowance can often be supplied by a Landlord, but it will likely be amortized at an above market interest rate, usually 8% to 12%, over the term of your lease.  Be sure to understand whom (Tenant or Landlord) will manage the construction and will be responsible for unexpected delays or building code issues that may arise.

About The Sundance Company
Established in 1976, The Sundance Company has the experience to help you with your commercial real estate needs in Boise, Meridian, Nampa, and the greater Treasure Valley. If your requirements include property management, leasing, real estate development, project planning, construction or space planning then look to us. The Sundance Company has more than 1.5 million square feet of retail, office, and industrial space available in prime Boise and Meridian locations.

Please check out The Sundance Company website to view property photos, search for office space or learn more about Sundance’s start-to-finish capabilities. If you prefer to talk to someone in person about your commercial real estate needs, then just give us a call at our Boise office, (208) 322-7300