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About The Sundance Company

The Sundance Company has become a development powerhouse with more than 30 years of successful history in Idaho’s Treasure Valley and the Boise metropolitan area. The Sundance Company is one of the few local companies that self-manages and maintains its own properties—enjoying higher occupancy levels and superior quality control for its projects. Savvy tenants and buyers look 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.

Every project by The Sundance Company is conceived and executed with integrity, innovation, accountability, and dedication by a team of seasoned experts who always remains mindful not only of tangible aspects of a property transaction but also the intangible. 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.

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Looking For New Office Space? Don’t Make These Mistakes

Following payroll expenses, facilities and related expenses are generally the second highest expenditure for a company. While people are naturally the most important asset to a company, real estate decisions should not be far behind. Too often though, companies fail to see the significance of real estate in the same light.
The impact real estate has goes far beyond the bottom line because it plays an important part in everything from employee retention to the level of productivity and workplace morale. It’s for these reasons that companies should always be cognizant when making real estate decisions.

The top mistakes that companies make when leasing space are:
• Waiting Too Long to Start The Process. The longer a tenant waits to start the process, the fewer the number of options that will be available to them. Waiting too long can mean that a tenant will pay more, receive less favorable lease terms, or that they are forced to leave and take less than desirable space elsewhere.
• Leasing The Wrong Amount of Space. Figuring out how much space to lease is not an exact science. Forecasting involves assumptions, which can often lead to costly mistakes if incorrect. Uncertain events notwithstanding, companies should take the time and effort to work with a space planner or architect to plan and program to determine the right amount of space to lease. With that information in hand, companies should then go one step further and think about the impact certain business scenarios would have on that number, the likelihood of those events happening, and adjusting the number so as to minimize the likelihood of taking down too much or too little space.
• Picking the Wrong Location. What may seem like the right location might in fact not be. Companies should consider things such as access, public transportation, demographics, zoning laws, and other factors to help identify the right location for their business.
• Not Thinking About The Future. Aligning a real estate plan with a corporate business plan is difficult to do when milestone events and setbacks do not always go according to plan. To help deal with the “unknown”, negotiating leases which provide both expansion and contraction rights to the extent possible is therefore instrumental. Companies need to go beyond the simple lease and think about sublease rights, expansion rights, rights to cancel, and options to extend.
• Not Measuring The Space. Companies should strongly consider verifying the landlord’s square footage numbers. In larger transactions, even a small difference can translate into a large savings. If it is not possible to measure the space, tenants should at least try to negotiate a tolerance in the measurement. Generally though, and per BOMA standards, a variance of up to 2% is acceptable.
• Signing Too Long or Too Short of a Lease. Companies often think that by signing a short lease they are buying themselves flexibility. That may be true in many cases, but that flexibility often comes at a price. On the flip side, tenant’s may feel a long term lease provides maximum stability, but there are far too many cases – particularly in Silicon Valley where swings in rent can be large – where long term leases signed at the height of the market have gone so far as to force companies into bankruptcy or caused severe harm to the company. It’s therefore imperative that companies take a long-term approach to real estate, while keeping short term trends and business activities in focus.
• Not Verifying Building Systems and Infrastructure. In today’s environment, data, power, networking, and HVAC capacity and availability are crucial. Tenants should ensure that buildings they intend on occupying are capable of providing the network connectivity and other building systems necessary for a tenant’s operation before signing any lease.
• Not Having Your Insurance Carrier Review the Lease Language. Tenants should always have their insurance carrier review the language within a lease that pertains to insurance and subrogation to verify that the insurance is not only attainable, but attainable at a reasonable cost. It is strongly recommended that the actual lease or lease language be sent to your insurance carrier for review before any lease is signed.
• Not Retaining Legal Counsel. By using an attorney well versed in the documenting of a real estate transaction, companies can help avoid ambiguity and errors which could lead to expensive litigation or legal wrangling down the road.

If you are looking for commercial real estate space and do not want to make one of the preceding mistakes then contact The Sundance Company and we can walk you through the process of procuring a great location for your business. Established in 1976, The Sundance Company has more than 1.5 million square feet of office and industrial space available in prime locations throughout the Treasure Valley including Boise, Meridian, and Nampa so contact us today to see how we can help you find the right office or retail space for your company. More information is available at www.sundanceco.com or 208.322.7300.

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A Guide to Commercial Real Estate Building Classifications

When considering office space, tenants will find that office buildings are generally classified as being either a Class A, Class B, or a Class C building. The difference between each of these classifications varies by market and class B and C buildings are generally classified relative to Class A buildings. Building classifications are used to differentiate buildings and help the reporting of market data in a manner that differentiates between building types. That said, there is no definitive formula for classifying a building, but in the general characteristics of each are as follows:

  • Class A. These buildings represent the highest quality buildings in their market. They are generally the best looking buildings with the best construction, and possess high quality building infrastructure. Class A buildings also are well-located, have good access, and are professionally managed. As a result of this, they attract the highest quality tenants and also command the highest rents.
  • Class B. This is the next notch down. Class B buildings are generally a little older, but still have good quality management and tenants. Often times, value-added investors target these buildings as investments since well-located Class B buildings can be returned to their Class A glory through renovation such as facade and common area improvements. Class B buildings should generally not be functionally obsolete and should be well maintained.
  • Class C. The lowest classification of office building and space is Class C. These are older buildings (usually more than 20), and are located in less desirable areas and are in need of extensive renovation. Architecturally, these buildings are the least desirable and building infrastructure and technology is out-dated. As a result, Class C buildings have the lowest rental rates, take the longest time to lease, and are often targeted as re-development opportunities.

The above is just a general guideline of building classifications. No formal international standard exists for classifying a building, but one of the most important things to consider about building classifications is that buildings should be viewed in context and relative to other buildings within the sub-market; a Class A building in one market may not be a Class A building in another.

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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It is All About Location, Location, And Location

People often say there are three things that determine the value of a property: location, location and location. Location is also an important factor in commercial real estate investment. For retail properties, location is the key as an average business can even be successful if it is at a good location. When a commercial property is at a good location, it will attract tenants to the property and retain them there. It will also attract the customers of your tenants to the property. To determine if a property has an ideal location, check it out and see if it has these features:

1- Near major roads and freeways: This provides easy access to the property so the customers of the tenants can quickly and conveniently drive to the property.

2- Near busy street with high traffic volume: Commercial listings often mention the traffic volume in term of cars per day. More traffic means more exposure of your tenants businesses to more potential customers, and this is free advertising to your tenants. The traffic could also be foot traffic.

3- Near anchored tenants: Big retail stores like Wal-Mart, Albertsons, Home Depot instantly bring lots of customers to their stores. If your commercial property is near an anchored tenant, it will benefit from the high volume traffic.

4- At an intersection: This will give the property more visibility as it has more frontage feet. If the property is located at a signalized corner then it’s even better. As cars stop at the traffic light, people in the cars will notice the stores in your property. The traffic light is also an indication the intersection has more traffic.

5- Near local amenities: Stadiums, colleges, big shopping malls, and hospitals will bring more traffic to the shopping center. Doctors always like the medical building near the local hospital as it is convenient for them and their patients.

6- Easy to make left turn: The property should have ease of ingress and egress. If it’s hard to make left turns, shoppers will less likely come to the shopping centers, and thus it makes the property less desirable to the tenants.

7- Easy to find a parking space: People don’t like to go to a place where they cannot find parking spaces. Commercial property must have at least 1 parking space per 1000 square foot of leasable space. It’s more desirable to have 4-6 parking spaces per 1000 square feet. The width of parking space is also important. Who wants a ding on the door after a shopping trip?

8- Signage: Signage is an important part of a commercial property. Customers often look for the name of the business rather than the street address. A large and tall monument sign in front of the property with the names of the businesses in the property is always desirable.

9- Able to attract and retain tenants: Your tenants will look for a building and neighborhood that are appealing to them and their customers to determine if they should sign or renew the leases. The quality of construction, property condition, landscaping, the appearance of the building and surrounding area are all important factors to keep the property 100% leased.

10- In a stable or growing area: You want to invest in an area where population has increased. Review the demographic data in the property brochure.

Established in 1976, The Sundance Company has the experience and commercial real estate buildings in ideal locations to help with business needs in Boise, Meridian, Nampa, and the greater Treasure Valley. 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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Boise Commercial Real Estate for Lease – Quail Court

Located in the beautifully landscaped Blackeagle Center, a 45-acre business park in Boise developed by The Sundance Company, Quail Court is an attractive two-story 46,000 square foot building with a wonderful common foyer area. First floor tenants have individual exterior entrances as well and there is extensive space for signage on exterior of the building.  Quail Court enjoys a convenient Southwest Boise location with easy access making it ideal for a company looking for new office space in Boise.

Quail Court
1500 South Eagle Flight Way
Boise, ID 83709

Site Area: 3.31 acres
Zoning: C-3D
Year Built: 1999
Project Size: 46,176 square feet, each
Number of Floors: Two
Parking: 6.7/1,000
Construction: Tilt-up, pre-cast concrete panels with 6” steel columns on a 35’x42’ and 35’x28’ grid
Exterior: Reinforced concrete tilt-up panels
Roof: Single-ply EPDM membrane roofing system
Floor Construction: Ground floor – 4” reinforced concrete slab; Second floor –3 ½ ”–5” of concrete over corrugated steel pan
HVAC: 5-ton gas-fired 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 finished height
Elevator: Dover, 2,000 lb.; Capacity, 100 feet/minute
Restrooms: First floor – common restrooms; Second floor – common restrooms in central core area
Life Safety: Wet pipe fire protection system with alarm valves with Fire Department Connection
Miscellaneous: Extensive perimeter and site landscaping; distinctive wildlife sculptures at property entrances; consistent architecture throughout 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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3 Steps to Finding the Right Location for Your Business in Boise

There are several variables to consider when searching for the right leasing space in the Boise metropolitan area and The Sundance Company offers a general summary of the process. Please remember this is a general summary of the leasing process and the steps involved for your company can vary depending on a number of factors.

Identify Needs: Location, location, location. You have probably heard that phrase numerous times in the business world and the word location might be the most-used word in real estate. Why?  Location affects your visibility, the quality of your space and ultimately the long-term value of your business. Before you finalize your location in the greater Boise metropolitan area you need to answer a few questions: Where are our customers? Our market region? Our employees? Where is the competition located?

Cost: Your monthly rent will be determined by a few variables including location (Boise, Meridian, or Nampa), lease rate per square foot, free rent or other concessions provided by the owner, utilities and other costs if the lease is Triple Net, additional tenant improvements that are amortized into the rent, and annual rental increases as provided for in your lease.

Type of Space: The type of space you need is going to be determined by the type of product or service you provide. Is it industrial? Retail? Office? The Sundance Company has commercial real estate leasing options including industrial, retail, and office throughout the Treasure Valley so we can certainly find the right type of space for your company.

If you have questions or comments about The Sundance Company please call 1.208.322.7300 or visit our website at www.sundanceco.com. To view some of our commercial real estate leasing options, please visit our Properties page.

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Commercial Real Estate Options in the Boise Valley

Whether you are a start-up business looking for a new commercial real estate location or an existing business needing to expand in Boise, Meridian, or Nampa, The Sundance Company is here to help find and secure the perfect location for your company.

For most businesses, finding the right commercial real estate location is a major obligation. While the cost of your commercial real estate location can significantly affect your bottom line, it also has many other important consequences. Having an experienced commercial real estate leader like The Sundance Company – who knows and understands the Boise market – will make a big difference in your search for commercial real estate in the greater Boise area.

Take advantage of the aptitude of The Sundance Company – Boise’s commercial real estate leader and let them help you find the right space for your business. The Sundance Company’s professional and knowledgeable staff will help ensure you find the right commercial real estate location in Boise, Meridian or Nampa.

With our start-to-finish capabilities, The Sundance Company can help and make sure your new commercial real estate is a great place to do business and thrive in of the fastest growing markets in the country – the greater Boise metropolitan area.

If you have any questions or comments about The Sundance Company please call 1-208-322-7300 or visit our website at www.sundanceco.com. To view commercial real estate options with Sundance, please visit our Properties page.

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Boise Commercial Real Estate for Lease – Blackeagle Center

Blackeagle Center is a 45-acre, master-planned business park developed by The Sundance Company. The center is located 1/3 mile from Interstate 84, minutes from the Boise airport and downtown Boise and within 2 miles of over 3 million square feet of retail amenities for employee convenience.

The Blackeagle Center, is a 45-acre business park developed by The Sundance Company in Boise, Idaho. The Blackeagle Center is home to coffee and sandwich shops, athletic centers, as well as various medical providers. There are two access points to I-84 and Flying Wye Connector which are less than 5 minutes from Blackeagle, and it is located 1/3 mile from Interstate 84, minutes from the Boise airport and downtown Boise and within 2 miles of over 3 million square feet of retail amenities for employee convenience including  Costco, Wal-Mart, Lowe’s, Albertsons, Fred Meyer, Walgreens, Starbucks, the Boise Spectrum Theatre Complex, and the Boise Towne Square Mall. In addition to these, there are a large variety of banking, day care centers, restaurants, fitness centers, and library in the surrounding area.

Blackeagle Plaza Center Flyer

Blackeagle Plaza Center Map

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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Leasing vs Buying Commercial Office Space?

Many businesses reach a point in which they are curious as to whether it would be beneficial for them to purchase a building rather than continue to lease space. While every business is different there are a few common factors that should be taken into consideration when evaluating whether buying a building space would be better than continuing to lease space. We will take a look at some of the pros and cons to purchasing compared to continuing to lease space.

* Cash Outlay – Typically if you are planning to purchase a building, you can expect to make a down payment of between 10% and 25% of the purchase price, depending on the lender and your credit. When you lease space you won’t need to put down nearly as much. With good credit, the typical outlay is the first and last months rent which is only about 10% to 15% of the cash outlay required when purchasing a building.
* Opportunity Cost – With the large outlay of cash required to purchase a building, the opportunity cost of that money needs to be taken into consideration. What return would you expect to receive on that money compared to the return you would expect to receive if you invested the money back into your business or into other investments?
* Fixed vs. Variable Cost – When you buy a building, you have a good idea what your costs will be over the long term. This is especially true if you have a long term fixed rate mortgage. If you lease space, the market will dictate what you will end up paying for rent over the long run.
* Growth Considerations – The growth phase of your business should be a major consideration in making the lease vs. buy decision. If your company is relatively new and/or in a high growth mode, leasing would allow more flexibility and fewer constraints to that growth. On the other hand, if your company is mature and stable, buying space is great way to meet your future space needs.
* Property Management – You’ve heard the expression, time is money. If you own a building, it needs to be managed. You can either hire out the function or do it yourself. Many businesses with long term growth plans buy a larger building than they need and rent out the expansion space. All the more need for good property management.
* Appreciation – One of the primary goals of buying a building space is to generate long term increase in value through market appreciation. A good idea in a healthy market and usually successful over the long term. It is usually a good way to add to your retirement fund, but keep in mind that recent commercial real estate cycles have come in 10 year periods.
* Tax Factors – Lease payments are usually fully deductible, but many expenses of owning office space must be written off over longer periods of time of up to 39 years. The good news if you buy is that you get to take depreciation on the improvement portion of the property and can usually deduct all of your interest payments. When considering the tax factors it is always very important to consult with your attorney and tax professional about the legal and financial considerations to owning office space.
* Cash Flow Analysis – The devils in the details. In order to really understand the financial aspect of purchasing a building, you need to prepare a detailed comparative net present value cash flow analysis which takes into consideration your predictions on the future including holding period, anticipated appreciation vs. rental increase, interest rates, and cost of expenses increases. It is a good idea to do three different analyses, optimistic, realistic and pessimistic, to help determine your margin of error. It seems like a daunting task, but there some good programs available to help you do this analysis including:

The Next Step

While the evaluation of the leasing vs. buying space decision seems somewhat overwhelming, there is help. Getting advice and assistance from a commercial real estate professional who is involved in the business day in and day out can significantly improve not only the accuracy of any analysis, but in general simplify the process. Many of the lease vs. buy factors can only be decided by you, but having a helping hand in the areas where space expertise is important will assure you of making the best possible decision. Call The Sundance Company today to see how we can help you with your lease or buy decision.

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

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Build to Suit and Land Development in the Treasure Valley

The Sundance Company prides itself on its ability to provide options. Whether you are looking to purchase land or prefer a build-to-suit, The Sundance Company offers a multitude of possibilities with its land development and build-to-suit options throughout the Treasure Valley, including in Boise, Meridian, and Nampa.

If the current Boise Treasure Valley market does not offer what your business is looking for, you can now consider designing and building a facility to suit your needs, 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 in today’s complex 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.

For more information about your commercial real estate options, including build-to-suit opportunities, simply give us a call at our Boise office at (208) 322-7300 or please check out The Sundance Company website to view property photos, search for office space or learn more about Sundance’s capabilities.