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Archive for March, 2017

Google Assistant vs Siri

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About The Sundance Company
Established in 1976, The Sundance Company has the experience to help you with your commercial real estate needs throughout the Boise 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 locations in the Boise metropolitan area. More information is available at www.sundanceco.com or 208.322.7300.

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Companies Helping to Bring Innovation to Commercial Real Estate in 2017

Commercial real estate is behind the times.

That might come as a surprise, especially since the industry is valued at $12.6 trillion. Thankfully, a growing community of tech startups is beginning to address common issues that plague the industry.

Just weeks ago, Hightower and VTS, software solutions that help real estate professionals and owners manage the sales and leasing of properties, announced a $300 million merger to combine both services under the name VTS. The company focuses on helping real estate professionals track deals and manage space in real-time, and collaboratively. CBRE, the world’s largest commercial real estate services and investment firm recently announced the acquisition of Floored, a NYC based company that creates interactive 3D graphics and technology for the hospitality and real estate industries.

Besides VTS and Floored, a number of venture-backed startups have removed some of the old pain points that were inherent in the aging world of commercial real estate. Here are a few of the other companies whose innovations are making a difference at various points along the chain of real estate services.

For Tenants

Previously, searching for commercial space was a daunting process that involved you, your broker, and a set of listings that your broker had access to. Options were limited and the market wasn’t transparent because of a lack of data. 42Floors helps address these issues by aggregating many different sets of listings and displaying them on its online platform. Users can then search for appropriate rentals through the commercial space index.

NYC-based startup SquareFoot similarly provides users with a platform that aggregates online listings but takes it a step further. The company offers leasing advice, and brokers here serve as concierges who focus their efforts on guiding businesses through the entirety of the leasing process. As a bonus, features built into SquareFoot’s platform allow brokers and tenants to easily communicate, share notes, schedule tours and manage everything online.

According to Jonathan Wasserstrum, SquareFoot’s CEO “Technology has upended many parts of the CRE value chain already, and the relationships between tenants and brokers are no exception. So when it comes to the level of accountability and transparency that tenants expect from their brokers, that bar is rising.”

But what about having to physically walk through a space in person? Floored developed a solution to this problem by building software that turns 3D data into interactive virtual worlds. Matterport is similar in that it creates VR renderings of the insides of properties, but it also allows anyone to actually create the 3D models using a special depth-sensing camera and share them over the Internet. Both companies are developing exciting ways to explore a place as if you were really there.

For Investors and Capital Seekers

Commercial real estate transactions aren’t exactly known for being cheap. But there’s a significant community of investors that are willing to foot the bill for new projects that they consider to be worthwhile, profitable investments. But where do you find them? For years, that’s where the conversation stopped. Cadre entered the scene in 2014 as a platform that connects seekers and providers of capital. In Cadre’s own words, the company is “building a more efficient economy for the world’s most impactful buyers and sellers.” For those interested in going the route of crowdfunding, companies like RealtyShares and Fundrise are opening up opportunities for investors to pool their resources and invest in properties through their respective online platforms.

For Brokers and Landlords

Managing multiple deals from start to finish is a time-intensive business. The concept behind Honest Buildings is similar to VTS’s, but it is made for those overseeing capital and construction projects. The collaborative platform harnesses the power of data analytics to help professionals make sure projects are progressing on time and on budget. Good data about pricing, comps, property information, and more is a non-negotiable in the world of commercial real estate. But for years, it’s barely been possible to access such data, and if you did, it would cost more time and dollars to pull any helpful insights from it. That’s where companies like Credifi and Reonomy come in. Credifi is bringing transparency to the industry by making available data on 2.2 million properties and loans, while Reonomy offers powerful analytics to help customers make faster, more informed decisions.

CompStak‘s wedge into the market is a platform for the exchange of commercial lease comparables, more commonly known as comps. Brokers, appraisers and researchers can trade their own comps for credits on the platform while landlords, lenders, and investors can access our lease data by subscribing to our Enterprise platform.

The CEO of CompStak Michael Mandel predicts “2017 will bring more M&A activity than we’ve seen in recent history, with major established CRE Tech players trying to scoop up the innovators.  My guess is that some of these get folded into the parent companies, but others will continue to run independently.”

It’s an exciting time to be in real estate. Tech-fueled innovations are making deals and projects happen faster and more frequently not just on the residential side of real estate, but the commercial side too — and that’s great news for businesses everywhere.

The story originally appeared on the Forbes website.

About The Sundance Company
Established in 1976, The Sundance Company has the experience to help you with your commercial real estate needs throughout the Boise 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 locations in the Boise metropolitan area. More information is available at www.sundanceco.com or 208.322.7300.

 

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St. Patrick’s Day 2017

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About The Sundance Company
Established in 1976, The Sundance Company has the experience to help you with your commercial real estate needs throughout the Boise 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 locations in the Boise metropolitan area. More information is available at www.sundanceco.com or 208.322.7300.

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Seven Factors of Great Office Design

 

Smart companies understand that workspaces are a business tool. An office environment reflects and reinforces a business’s core values, through the placement of different teams and functions and design elements that reflect culture, brand, and values.

For example, we’ve seen an explosion of open office layouts, in part because openness, transparency, and collaboration are some of the attributes companies strive for today. Sometimes these designs work well; however, research shows that this collaborative push may be too much of a good thing. Increasingly, people are rediscovering the value of quiet and focus and asking for spaces where they can concentrate.

In fact, collaboration and quiet are two ends of a continuum with a range of in-between work modes — each with an optimal setting. The best way to identify these is to identify everyday work patters and micro-moments that correspond to office design decisions.

This is easier said than done, however. It’s one thing to note a person working solo in an otherwise empty seminar room, or a group of people huddling around someone’s desk because a conference room wasn’t available. It’s quite another to imagine what an alternative, effective scenario might look like.

To get everyone speaking the same spatial language, we created a Collaboration and Quiet index consisting of seven attributes that can more concretely enable people to match a desired way of working with a physical space: location, enclosure, exposure, technology, temporality, perspective, and size.

To better understand how these work, try the exercise below on your own or with your team. Pick an example of a work activity that happens regularly, like a daily or weekly standing meeting. Using the continuum below, try to identify the ideals for your particular situation (they will likely fall somewhere between the two extremes on either end). For the attribute “location,” for example, you could ask your team: Is the meeting best facilitated if it’s held in an in-demand central meeting room or near where other people are likely to gather? Or is it best facilitated closer to your team’s work area and away from where you are likely to encounter others?

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When you’re done, consider all your answers collectively — this can help give you the language to identify your needs beyond, say, “We need more collaborative meeting space.”

There are a variety of ways you can use this exercise beyond one meeting. It can serve as the basis of a design visioning workshop with a larger group about how and where people work and how they would envision working in new ways in the future. We created a version of our index as an online survey that feeds us input in a more systematic way and as a means of reaching more people — you could, too, if your organizations are more accustomed to engaging in surveys online rather than in person.

Getting Started

To begin the discussion in your organization, in addition to analyzing the seven attributes with your employees, company leaders should also ask themselves the following questions:

  • Who are our employees, and who will they be in the next 5 years?
  • Who else uses our space (visitors, clients, community members, etc.), and why?
  • How do we want clients, prospective hires, or other visitors to perceive us when they enter our space?
  • To what extent do we value flexibility and choice over how work gets done?
  • Are certain modes of working seen as a privilege only available to a select few?
  • What current workplace behaviors would we like to change?
  • What are the most satisfying attributes of the existing workplace that sustain productivity?

If people aren’t regularly coming to the office, do we understand why not?

The design and outfitting of workspace is a major capital investment for any organization that can affect a number of business outcomes, including productivity, employee satisfaction, engagement, talent recruitment, and brand impact. Given the myriad ways to design and plan a space, leaders should approach workplace design in a strategic way. Imitating the latest fads start-ups are adopting won’t necessarily get you the results your company desires; asking the right questions — and, above all, listening to employees’ answers — will.

The story originally appeared on the HBR website.

 

About The Sundance Company
Established in 1976, The Sundance Company has the experience to help you with your commercial real estate needs throughout the Boise 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 locations in the Boise metropolitan area. More information is available at www.sundanceco.com or 208.322.7300.

 

Categories: Uncategorized