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Archive for June, 2012

The Sundance Company: Tailor-Made Commercial Real Estate Solutions

The Sundance Company, a commercial real estate leader with more than 1.5 million square feet of office and industrial space available in prime locations throughout the Boise Valley, prides itself on its ability to provide options and tailor solutions to its client’s needs.

Since 1976, The Sundance Company has offered a multitude of possibilities with its build-to-suit commercial real estate options throughout the Boise Valley. Confident tenants and buyers look to The Sundance Company for build-to-suit/construction because 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.
If the current market does not offer what your business is looking for, you can now consider designing and building a facility to suit your exact specifications, rather than renewing your current lease or settling for an “as is” building. Build-to-suit opportunities represent just one of the alternatives available to companies today in the Boise Valley commercial real estate environment. Many executives procuring space for their companies find a build-to-suit option most advantageous, and The Sundance Company can effectively and efficiently assist you with your needs.

Delivering customized solutions is the foundation of The Sundance Company’s build-to-suit program as we have collaborated and worked with customers to manage the entire build-to-suit process, including site selection, land acquisition, facility specifications, permitting, construction and ownership. The proven structure of The Sundance Company’s build-to-suit project team benefits our customers through its articulation of a clear mission and direction. The in-house management team values its personal connections and the relationship of trust it has created with its tenants and property owners, which include national and regional companies, some of whom have been in Sundance buildings for more than 15 years.

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.

How iPads and Tablet Devices are Changing Businesses

Do you BYOD? That’s Bring Your Own Device, which refers to the workforce using their own mobile devices to perform work functions at the office.  As the mobile workplace continues to evolve and technology innovation continues to accommodate mobile work preferences, BYOD is an increasing trend that is having an effect on business.

A lot of employees have been reading and sending work e-mails on their mobile device for a few years now.  They probably started doing it a few years ago when the Palm devices and their stylus were popular, then their mobile email use probably increased when their company adopted the BlackBerry devices with their click wheel on the side.  Then Apple revolutionized the way we use phones when it released the iPhone, which introduced apps for just about anything and eased the way people use the web – and not just email – with the smart phones.  After changing mobile phone habits, Apple then turned its attention to revolutionizing the way we perform our mobile computing.  Apple released the iPad using the same revolutionary interface from the iPhone, and for the past couple years, the iPad has grown from the latest cool device to a viable laptop-killer.

Mobile work is not just on the rise; it’s exploding in popularity with the latest mobile devices and is affecting how organizations manage their workforce and how network connectivity is delivered to their mobile devices. An astounding 42.5% of workers polled are using the iPad with another 27.7% planning to get the iPad in the next 6 months.

 

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.

Commercial Real Estate: All Sectors Continue to Improve, Multifamily Strong

June 13, 2012 1 comment

Shaking off a prolonged impact from the recession, fundamentals are gradually improving in all of the major commercial real estate sectors, according to the National Association of Realtors® quarterly commercial real estate forecast. The apartment rental sector has fully recovered and is growing.

The findings also are confirmed in NAR’s recent quarterly Commercial Real Estate Market Survey, which collects data from members about market activity.

Lawrence Yun, NAR chief economist, says new jobs are the key. “Ongoing job creation, which is at a higher level this year, is fueling an underlying demand for commercial real estate space, assisted by a steady increase in consumer spending,” he says. “The pattern shows gradually declining commercial vacancy rates, with consequential but generally modest rent growth.”

Yun expects the economy to add 2 to 2.5 million jobs both this year and in 2013, on the heels of 1.7 million new jobs in 2011, assuming a new federal budget is passed before the end of the year. “Although we need even stronger job growth, by far the greatest impact of job creation is in multifamily housing, where newly formed households striking out on their own have increased demand for apartment rentals – this is the sector with the lowest vacancy rates and strongest rent growth, which is attracting many investors.”

Rising apartment rents also are having a positive impact on home sales because many long-time renters now view homeownership as a better long-term option, Yun notes.

A large problem remains for purchases of commercial property priced under $2.5 million. “Our recent commercial lending survey shows that there is very little capital available for small business, which is significantly impacting commercial real estate transactions, although funding is less restrictive for bigger properties.”

NAR’s latest Commercial Real Estate Outlook offers projections for four major commercial sectors and analyzes quarterly data in the office, industrial, retail and multifamily markets. Historic data for metro areas were provided by REIS, Inc., a source of commercial real estate performance information.

Office Markets

Vacancy rates in the office sector are projected to fall from 16.3 percent in the second quarter of this year to 16.0 percent in the second quarter of 2013.

The markets with the lowest office vacancy rates presently are Washington, D.C., with a vacancy rate of 9.3 percent; New York City, at 10.0 percent; and New Orleans, 12.6 percent.

Office rents should increase 2.0 percent this year and 2.5 percent in 2013. Net absorption of office space in the U.S., which includes the leasing of new space coming on the market as well as space in existing properties, is forecast at 24.7 million square feet in 2012 and 48.0 million next year.

Industrial Markets

Industrial vacancy rates are likely to decline from 11.0 percent in the current quarter to 10.7 percent in the second quarter of 2013.

The areas with the lowest industrial vacancy rates currently are Orange County, Calif., with a vacancy rate of 4.7 percent; Los Angeles, 5.0 percent; and Miami at 7.2 percent.

Annual industrial rent is expected to rise 1.6 percent in 2012 and 2.4 percent next year. Net absorption of industrial space nationally is seen at 44.1 million square feet this year and 62.4 million in 2013.

Retail Markets

Retail vacancy rates are forecast to decline from 11.3 percent in the second quarter to 10.7 percent in the second quarter of 2013.

Presently, markets with the lowest retail vacancy rates include San Francisco, 3.7 percent; Fairfield County, Conn., at 4.0 percent; and Long Island, N.Y., at 5.0 percent.

Average retail rent should rise 0.8 percent this year and 1.3 percent in 2013. Net absorption of retail space is projected at 8.0 million square feet this year and 21.9 million in 2013.

Multifamily Markets

The apartment rental market— multifamily housing— is likely to see vacancy rates drop from 4.5 percent in the second quarter to 4.3 percent in the second quarter of 2013; apartment vacancy rates below 5 percent generally are considered a landlord’s market with demand justifying higher rents.

Areas with the lowest multifamily vacancy rates currently are New York City, 2.1 percent; Portland, Ore., at 2.3 percent; and Minneapolis at 2.4 percent.

After rising 2.2 percent last year, average apartment rent is expected to increase 4.0 percent in 2012 and another 4.1 percent next year. “Such a rent increase will raise the core consumer inflation rate. The Federal Reserve, in turn, may be forced to raise interest rates, possibly as early as late 2013.”

Multifamily net absorption is forecast at 215,900 units this year and 230,300 in 2013.

Source: RISMedia

The Word and the World of Customers

Word of mouth marketing is any business action that earns a customer recommendation through building preference and delivering experiences. So how is your business doing?

Boise ranked among the best places to live, do business

June 7, 2012 1 comment

The Boise Valley, home of The Sundance Company since 1976, has been recognized in several high-profile publications by ranking the city as one of the best places in the country to do business and live. You can read the rest of the article here, or read the highlights below.

Brookings, a nonprofit public policy organization that specializes in research, named Boise as one of the top 20 fastest recovering cities. The calculation was based on growth, employment and housing prices.

KPMG studies business environments across the world. The company says in the Pacific U.S., Boise is the lowest-cost place to do business.

Part of that vision is not only a business friendly community, but a family friendly one as well.  Forbes Magazine gave Boise the number two spot on its list because of low crime rates and high school quality.

In the past six months, the Boise Valley Economic Partnership has seen nearly three times as many businesses looking to relocate or expand here. The recent rankings will play into some of those companies’ final decisions. And while Boise is the city named on the lists, business and community leaders say the rankings really extend beyond the city and apply to all of the Treasure Valley.

The entire state of Idaho is also getting some national love from the press. CNN Money just named Idaho as the friendliest state for small businesses.

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.