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How is commercial real estate square footage measured?

While all properties use the square foot as the basis of measurement, which parts of the property are included in the final calculations vary by building type. Gross square footage is most typically used with warehouses, industrial buildings and other stand-alone buildings, such as freestanding retail sites. Typically, the calculation will include the thickness of the sidewalls when measuring the total footprint of the site. When measuring multi-tenant warehouse, industrial and retail property, the inside measurement may be the most appropriate. This measurement will include 50% of the thickness of any demising walls.

Office buildings use substantially different calculations. The actual square footage that an office user may occupy is typically less than the amount upon which the rent is based. The square footage that you use exclusively is termed “usable square feet” and the amount upon which the rent is based is called “rentable square feet”. This is because office tenants pay their proportionate share for their use of building common areas. Common areas include lobbies, hallways, rest rooms, and service areas. The differential is expressed as a percentage known as a load or loss factor. When comparing properties, it’s a good idea to ask, “What is the load factor?” The higher the load factor the more of your space will be in the common areas and less inside the suite for your exclusive use. Occasionally, one may find a building that bases the rent upon the usable square footage. Since load factors can run 17 to 22 percent, this may represent real savings.

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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A Few Basics About Commercial Real Estate

So just what is commercial real estate? The next question you might have is what is investment real estate? Sometimes they are the same and sometimes they are not.

Commercial real estate is generally defined as any property that is used for the purpose of commerce. For example, an office building, a warehouse, retail store, shopping center or an apartment building with five or more units. Investment real estate is generally defined as property that is purchased for the income it produces. This can range from the purchase of a single-family home that is used as a rental, to a major shopping mall or office tower. It does not include the home you own and occupy.

While the valuation of a single family home is most often established by the sales of comparable homes in the same area, larger commercial property is usually valued by the income it produces. The more money it makes, the more it is worth. Simple, right? Well, sort of. Let’s start with an explanation of the general process of real estate valuation.
Keep in mind that what an appraiser says is defined as “an opinion of value based on supportable evidence and approved methods.” It is important to understand that the appraiser does not establish a property’s worth but rather verifies what the market indicates.

There are three processes of valuation an appraiser will use to determine the value of any piece of real estate. These three processes are:

Cost – The cost to build a similar piece of real estate.

Market – Based on the closed sales of similar properties in similar condition and areas. This is called the comparable or market value.

Income – The property value based on the net operating income the property produces. An appraiser will use all three processes, but select only the one (or, at most two) that most accurately reflects the market value. They are never averaged.

As an investor in real estate, you will be particularly interested in the Net Operating Income (NOI) in order to determine a property’s worth to you.

Here is an easy way to compute the Net Operating Income:

Start with the total income that would be generated if the property is fully occupied. Then subtract any money lost due to vacancies, uncollected rents or other credit losses. The remainder constitutes the money available to operate the property. From this figure, subtract all operating expenses, such as routine maintenance and property taxes, and then what is left is called the net operating income (NOI).

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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The Sundance Company provides commercial real estate leasing options in the Treasure Valley

The term commercial property (also called investment or income property) refers to buildings or land intended to generate a profit, either from capital gain or rental income. Commercial property includes office buildings, industrial property, medical centers, hotels, malls, retail stores, shopping centers, farm land, multifamily housing buildings, etc. In many states residential property containing more than a certain number of units qualifies as commercial property for borrowing and tax purposes.

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.

For more information about The Sundance Company’s available office space in The Treasure Valley including Boise and Meridian please click one of the links below. You can also reach The Sundance Company at 208.322.7300 or electronically.

Boise Office Space

Boise Industrial Space

Boise Retail Space

Meridian Idaho Office Space

Meridian Idaho Industrial Space

Meridian Idaho Retail Space

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Boise Office Space – Lynx Center, Blackeagle Center

Lynx Center is a 46,650 square foot, two-story, concrete tilt-up building with C-3 zoning. It is visible from Overland Road and has access from S. Kimball Way and S. Eagle Flight Way. The ground-floor tenants have separate entrances with exterior signage in designated locations on the building.

Lynx Center is located in the high profile Blackeagle Center, 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. Located in a one (1)-mile radius of Blackeagle employees can access Costco, Wal-Mart, Lowe’s, Albertsons, Fred Meyer, Walgreens, Starbucks, 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.

Lynx Center
9300 W Overland
 Boise, ID 83709

Site Area: 3.36 acres
Zoning: C-3D
Year Built: 1998
Project Size: 46,176 square feet
Number of Floors: Two
Parking: 5.7/1,000
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 – in tenant’s suites. Second floor – common restrooms in central core area
Life Safety: Wet pipe fire protection system with alarm valves with Fire Department
Miscellaneous: Extensive perimeter and site landscaping; distinctive wildlife sculptures at property entrances; consistent architecture throughout park.

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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Boise Office Space – Quail Court, Blackeagle Center

Quail Court is a two-story concrete tilt-up construction featuring abundant parking at over 5/1,000 s.f. Attractive landscaping and well as a wonderful common foyer area make Quail Court an ideal office space for Treasure Valley businesses. First floor tenants have individual exterior entrances and there is extensive space for signage on exterior of building.

Quail Court is located in the high profile Blackeagle Center, 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. Located in a one (1)-mile radius of Blackeagle employees can access Costco, Wal-Mart, Lowe’s, Albertsons, Fred Meyer, Walgreens, Starbucks, 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.

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
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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Need Office Space in the Treasure Valley? Check out 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.

For more information about The Sundance Company’s available office space in The Treasure Valley including Boise and Meridian please click one of the links below. You can also reach The Sundance Company at 208.322.7300 or  electronically.

Boise Office Space

Boise Industrial Space

Boise Retail Space

Meridian Idaho Office Space

Meridian Idaho Industrial Space

Meridian Idaho Retail Space

sundancecompany Boise Commercial Real Estate, The Sundance Company

The Sundance Company – Boise’s Commercial Real Estate Leader

The term commercial property (also called investment or income property) refers to buildings or land intended to generate a profit, either from capital gain or rental income. Commercial property includes office buildings, industrial property, medical centers, hotels, malls, retail stores, shopping centers, farm land, multifamily housing buildings, etc. In many states residential property containing more than a certain number of units qualifies as commercial property for borrowing and tax purposes.

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.

For more information about The Sundance Company’s commercial real estate services please contact us at 208.322.7300 or you can reach us electronically.

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Boise Office Space – Mallard Place, Blackeagle Center

Mallard Place is a 44,703 square foot, U-shaped, single-story concrete tilt-up buildings that is zoned C-3 and feature individual tenant entrances and generous signage areas. Openings are provided in the rear of the building to accommodate service doors for tenants requiring storage areas in their space.

Mallard Place is located in the high profile Blackeagle Center, 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. Located in a one (1)-mile radius of Blackeagle employees can access Costco, Wal-Mart, Lowe’s, Albertsons, Fred Meyer, Walgreens, Starbucks, 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.

Mallard Place
9100 W. Blackeagle Dr.
 Boise, ID 83709

Site Area: 3.98 acres
Zoning: C-3D
Year Built: 1998
Project Size: 44,703 square feet
Number of Floors: One
Parking: 5.3/1,000
Construction: Reinforced concrete tilt-up with 6-inch square steel columns on 29’/30’ grid
Roof: Single ply EPDM roofing system on 3/8” gyp board over 3/4” plywood sheathing over Trus-Joist framing system
Floor Construction: 4” reinforced concrete slab
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: 16 feet clear in warehouse areas; 10 feet in office areas
Restrooms: Common restrooms in core areas
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
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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The Sundance Company Property Management Services

Property management is a critical component of owning a commercial property. Skilled administration of a property and its tenants is the bedrock of success. As a property owner, you must think about maximizing the value of your asset. And so does The Sundance Company. Our more than 29 years of Asset Administration experience in Idaho’s Treasure Valley – Boise, Meridian, Eagle, Nampa, and Caldwell – allows us to offer you a high-quality alternative approach to traditional Property Management services.

For instance, The Sundance Company and its Asset Administrative team will:

  • Forecast the needs of the property
  • Help to reduce your interest costs and loan fees
  • Assist in reducing renewal costs
  • Provide opportunities for reduced insurance premiums
  • Offer significant operating expense savings
  • Understand owners’ objectives and tailor our Asset Management Plan to your performance expectations and building needs
  • Advise on financing, long-term planning, market analysis and capital forecasting
  • Allow you to focus on your core business objectives while we help reduce operating, legal and accounting costs
  • Perform high-quality services such as:
    o Full financial and reporting services
    o Security/fire/safety programs
    o Supervision and training of personnel
    o Contract administration
    o Standard operating procedures manuals
    o Building operations and maintenance
    o Customer and tenant services
    o Lease administration and management
    o Ongoing building and safety inspection programs
    o Annual customer and tenant surveys

For more information about The Sundance Company’s property managment services please contact us at 208.322.7300 or you can reach us electronically.

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Boise Office Space – Pintail Center, Blackeagle Center

Pintail Center is located in the high profile Blackeagle Center, 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. Located in a one (1)-mile radius of Blackeagle employees can access Costco, Wal-Mart, Lowe’s, Albertsons, Fred Meyer, Walgreens, Starbucks, 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.

Pintail Center
1360 South Eagle Flight Way
 Boise, ID 83709

Site Area: 4.96 acres
Zoning: C-3D
Year Built: 2000
Project Size: 52,305 square feet
Number of Floors: One
Parking: 256 asphalt-paved spaces; 5 /1,000 square feet
Construction: Reinforced concrete tilt-up with 6-inch square steel columns on 32’x68’ grid
Roof: Single ply EPDM 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 4” compacted base
HVAC: 5-ton gas-fired rooftop units. 100,000 BTU; 2,000 CFM plus 7-ton tenant specific units
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: Building has 10,000 square foot interior, lushly landscaped atrium with water features; tenants have individual outside entrances. There is extensive perimeter and site landscaping; distinctive wildlife sculptures at property entrances; consistent architecture throughout park.

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.