Give & Take
We have a client that we have done several projects with over the years. They started out as our neighbors in one of the office buildings that we leased years ago and we have gotten to know them over the years. When they decided to move out of that building several years ago and buy a building of their own, they hired us to do the interior renovation of the new building. At the time, the building that they purchased was a bit smaller than they wanted, but they knew they could make it work for a period of time. About 6 months ago, they called us and said that they had truly outgrown the existing building and wanted to build an addition that would meet all of their needs with room for growth. We did a preliminary schematic design of an addition that was approx. 7,500 s.f. consisting of open office space, ample conference rooms and private offices, all connected to their existing building.
Two weeks ago, the client called us and said that an existing building in their office park had come up for sale and they would like us to walk through it with them, so of course we met up with them and walked through the building. The building is approx. 5,800 s.f. and has a layout that would NOT be considered “open concept”. In talking with the client after the meeting, they knew they would need to make some minor modifications to the interior flow, but felt that it was move in ready and could work for them. Purchasing the existing building would cost about 60% of what they would have in new construction. The lower price as well as immediate availability were the main factors that prompted them to even consider purchasing another existing building that didn’t fully meet their needs.
We talk a lot here at PDMi about compromise, or give & take, when it comes to our projects. This is a prime example of compromising on a building that is not your dream solution, but in the end it may be a “good enough” fit for the time being. The money saved on purchasing a smaller existing building rather than the nice big new construction may be better used in growing their business so that they are further ahead at the end of the day.
Give & take is not always a bad situation to be in, you just have to be aware of what you are giving and what you are taking. PDMi can help you work through the pros and cons of your next expansion or building purchase. Give us a call, we’d love to help.