Archive

Archive for August, 2011

Does Your Company Use Technology For Customer Service?

If not, learn how you can use technology in creative ways to help provide your customers with the best service on the planet and outshine your competition. Here are some ways you can use your website to provide cutting-edge service that your customers will love:

1. Frequently Asked Questions (FAQ): No matter what business you’re in there are probably a few questions that customers ask repeatedly. Wouldn’t it make sense to collect those questions and produce a page with that content as well as the answers? This way your customers can save a phone call and get some, if not most, of their questions answered quickly just by going to the FAQ page.

2. Downloads: People love free stuff, and your website is a great place to provide it, but that material should have value to your customers. Has someone in your organization written a white paper that would be of interest to your target market? If so, then publish it on your website and make it easy to find. If you’re in the software business provide fully-functional, downloadable trial versions of your products that are good for 30 days. If you sell electronics, then publish the user manuals in PDF format on your site.

3. Blog: Publish a blog on your website and update it regularly with fresh articles on subjects of interest to your customers. Not just fluffy sales pieces that don’t offer any useful information, but real content that saves them time, money or both. Show that you’re interested in providing valuable and timely material that will benefit them, free of charge.

Some of the best ideas out there will come from your customers. Listen to them. Ask them for input and be willing to implement their ideas. You might be surprised by what you’ve been missing or how making some simple adjustments can make a huge difference. Never be too stubborn to consider a suggestion, and always consider your customers’ perspective when evaluating how your business can be improved. Cool technology is no substitute for good, old-fashioned customer service. In short, use common sense and always treat people like you would want to be treated.

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 is available at www.sundanceco.com or 208.322.7300.

Recent Transactions from The Sundance Company

The Sundance Company is pleased to announce the following commercial real estate transactions in the greater Boise metropolitan area:

  • Power Engineers leased 15,311 square feet of expansion space in Silverstone Park, Meridian, Idaho. The Sundance Company represented the property owner, and The Power Engineers Meridian office is located at 2041 S. Cobalt Point Way.
  • Northwest Neurobehavioral Health LLC leased 6,174 square feet at 2076 S. Eagle Road at Meridian, Idaho’s Silverstone Park. The move-in is planned in September.
  • Nexgen Payment Services leased 2,114 square feet of expansion space at 7253 Franklin Road at Boise, Idaho’s Boise Office Center.
  • PayThatWay leased 1,516 square feet at 3919 E. Overland Road at Meridian, Idaho’s Silverstone Park.
  • Take Shape for Life leased 1,297 square feet at 3715 E. Overland Road, Suite 200 at Meridian, Idaho’s Silverstone Park.
  • DermaViv Skincare leased 446 square feet at 2030 S. Eagle Road at Meridian, Idaho’s Silverstone 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 is available at www.sundanceco.com or 208.322.7300.

The More You Know: Commercial Real Estate Terms You Should Understand

Learning basic commercial real estate lease terms will help you build your knowledge in the commercial real estate investing arena. The following terms should be understood before signing a commercial lease:

Common Area Maintenance (CAM): This is a very important commercial real estate lease term to know. Most of the time when you have a multi-tenant building, you factor in charges for CAM. Usually tenants pay $12 a square foot for annual rent, plus a certain percentage for CAM. So CAM for a building is passed on to tenants.

Many of the issues considered in the commercial arena are not even available in residential leasing. For instance, if your commercial real estate investment target is small office warehouses, strip malls, or strip retail centers, CAM is one of the items you need to research.

Before you start renting or buying those types of facilities, you should know what the standard CAM is for your type of property. Sometimes in some smaller properties, there is no CAM, since the landlord pays it.

That’s all part of your costs as a landlord in this type of property. It’s not a pass-through, because you can’t legitimately pass through CAM expenses to your tenants, if no one in the area who owns a similar property is having their tenants pay it.

Percentage Leases: When you pay a fixed rent plus a percentage of sales over and above the fixed rental, you have a percentage lease arrangement. You will probably not run into percentage rent situations very often as a landlord. Most of the time, percentage rents are used in retail businesses located in large shopping centers and other similar areas.

You might charge percentage rent, if you had a $2,000,000 shopping center with a JC Penny’s, Sears, or Dillard’s, and the attraction of those mega stores brought traffic to your store. Therefore, they want to become your partner, in effect, by charging you a percentage. This is not common in small to moderate businesses.

Ground/Land Leases: This type of arrangement is where the tenant rents the land and builds on the property. Any way in which you improve the grounds, including any buildings, usually belong to the landlord when the lease ends. This is actually a form of financing.

You’ll find many ground tenants in high-cost land areas, like New York City. People don’t want to tie up personal capital in owning a piece of land when they could be putting that money into business operations. The standard land lease is a very long-term lease.

Sublease: A sublease is when you lease the whole property and then sublease a portion of it to someone else. For example, you might rent 10,000 square feet from a landlord. If you don’t need all that room, you have the right to put your own tenant onto the property using a sublease.

Assignment: An assignment is very similar to a sublease, in that you initiate the rental lease. However, you become a landlord by assigning the entire property to one or more tenants whom you manage.

There was a time when real estate investors would lease property and negotiate a very low rental rate. Then they would assign that same property to tenants at a much higher rate. Their real estate business consisted entirely of collecting money from their assignment.

Assignment Not Allowed: In some commercial leases, there’s a sublease clause stating that you are allowed to sublease the entire property, subject to the landlord’s approval. This clause, in effect, means that you cannot assign the lease. Particularly when you get into larger properties, you’ll want to be sure to personally check personally the credit of everybody who expresses interest in leasing your property. Tip: Assignments can get you into trouble. If you don’t know whether the assignee is credit worthy, don’t assign under any conditions.

Understanding commercial real estate lease terms will benefit you in the long runpastedGraphic.pdf, and remember always have your commercial real estate leases reviewed by a real estate attorney.

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 is available at www.sundanceco.com or 208.322.7300.

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Optimism Abounds For Commercial Real Estate Market

A recent article from from Bloomberg BusinessWeek discusses how the commercial real estate market is showing increased signs of stability, led by burgeoning demand for apartments, according to a report issued by Moody’s.

Please click below to read the rest of the story.

hhttp://www.businessweek.com/ap/financialnews/D9OMTU981.htm

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 is available at www.sundanceco.com or 208.322.7300.