The Lundy Group believes that leasing drives real estate. Strong leasing and sales is the difference between a successful project and a financial failure. As a result, Lundy’s strategy is to be the market leader in leasing and sales.
- To achieve leasing and sales dominance, Lundy hires highly qualified individuals and initiates them under a formal training program where compensation is highly dependent upon commission income. The broker controls all elements of the transaction, from the initial cold call, to needs analysis, contract negotiations, upfit pricing, upfit construction supervision, and tenant move-in. This approach gives the agent greater knowledge and credibility than the competition and enables the agent to win the majority of the market deals.
- By hiring individuals of this caliber and providing them with total responsibility for their project, each project is provided with the competitive advantage necessary to maximize its income. It is with this level of skill and diligence that The Lundy Group has earned the reputation as market leader in the leasing and sales of commercial real estate properties.
- Lundy’s performance is its greatest advertisement. All of its past projects and transactions have been very successful. The company’s client list is quite extensive, including such national firms as the Associated Press, Northwestern Mutual Life Insurance Company, Charles Schwab, Mutual of Omaha Insurance Company, National Semiconductor, Amdahl Corporation, Principal Financial Group, John Hancock Mutual Life Insurance Company, and CIGNA. Lundy has also represented numerous other prestigious regional and local firms. Enclosed later in this information package is a partial list of the companies represented recently.
- Lundy believes that there is no better way to generate activity than cold calling. The company maintains an up-to-date database of all tenants in the market. This database provides information on which company is in the market, how much space they lease, and when their lease expires. This information is continuously updated as the leasing agents are in the market calling on prospects each day.
- Lundy uses cold calling as a fundamental ingredient for success. Lundy tasks each broker with cold calling a predetermined number of people each week. This keeps the pipeline full with prospects. It also ensures that the brokers are aware of what is occurring throughout the market. The general surveys of the market are usually late, inaccurate and incomplete. The only way Lundy has found to know the prospects, the available space and the market is to be immersed in the market on a constant basis.
- In addition to cold calling, Lundy has strategically targeted organizations throughout the area for its employees to join. The majority of these are professional real estate organizations ranging from NAIOP (Past President for Eastern North Carolina), BOMA, IREM, TCAR, TCREW and TRAOBA to the listing agencies, boards of realtors and chamber of commerce committees. The Company Information section details the community involvement with the City of Raleigh and other organizations.
- In addition to the above, Lundy targets what we refer to as centers of influence. We consider these to be regional bank executives, attorneys, accountants and other business people who are in a position to know about prospects and possible centers of influence. It our job to make sure these centers of influence know about the product we have available, what our potential is for serving their clients, and how our serving their clients can bring mutually beneficial results.
- The total program practiced by Lundy has led to the success of being a leader in the leasing and sales community. Lundy has achieved all this without extensive advertising, without large fanfare.
- Once a prospect or existing tenant commits to leasing space, Lundy is experienced at producing and negotiating lease documents complete with language reflecting any unique aspect of the transaction. Lundy would recommend to the owner lease structures and pricing for all aspects including but not limited to net rent, operating expenses, upfitting costs or methods, timing of costs and leasing commissions.
- The Lundy Group works hard to maintain a good relationship with outside third party brokers. We also work hard at cold calling and establishing direct relationships with companies. Lundy has the experience of evaluating creditworthiness of tenants because it has been a landlord’s representative responsible for its decisions and recommendations. During this past recession every manager learned a great deal about the responsible tenants and the irresponsible ones. No one having endured that experience would take lightly the evaluation of the background of prospective tenants.
- Lastly, Lundy emphasizes the proper flow of communication from broker to property manager to portfolio manager. We can avoid problems through good and accurate communication flow.