Inside the Box…..or Out?

When you think of commercial real estate, what’s the first word that pops into your head? Chances are it probably isn’t “creativity.” That’s because commercial real estate and creativity aren’t typically synonymous terms. But at CTR Partners, we think creativity is absolutely essential to solving the unique requirements of our commercial real estate clients. And that’s exactly why we made it one of our core values.

Believe it or not, in some cases it takes a bit of creativity to make a successful deal happen. We have to think outside the box and look at every aspect of the process – sometimes from a new angle. So many times we find ourselves sitting across the table from landlords, sellers, and attorneys who look at the black and white of the deal. If they’ve always done things a certain way, they want to do them that same way again and again—no matter the circumstance. They’re just not looking to think creatively.

But we’ve found that if our team approaches a deal with creativity, we can not only find a solution that benefits our clients, but one that moves along the transaction to a successful conclusion. A little creativity goes a long way and can lead to a solution that others may not have thought of before. It challenges us to think differently, and we’ve found that when we do, our expertise grows and that benefits our clients.

Take this case for example. We’ve been working with Rector, Reeder, & Lofton, a local CPA firm, for several years now. They purchased a great office space in the Lawrenceville area for their team, but quickly began to outgrow it. Before they knew it, they were bursting at the seams in that space! We wanted to do something to address their physical space needs while being mindful of the economics of owning vs. leasing.

While the obvious answer seemed to be to sell their current space, we knew the market at that time wouldn’t give them the best return. So we stepped back and looked at things again, this time with a little creativity. And we were able to come back to them with a new idea. Rather than be stuck in a space that didn’t fit them anymore or jump the gun to sell before the market could bring the yield they needed, we proposed the option of leasing their current space to another company. This would allow them to wait out the market without losing money on a mortgage while also moving into a bigger and better space for their team. A little creative thinking gave Rector, Reeder, & Lofton the solution they needed, and made space for another business to move into a new home as well.

In the end, it was the right solution to a challenging situation. And it was made possible because we chose to bring creativity into the process. It’s a value we strive to have at CTR.