Negotiating Through Complications
Just three years after CEO David Karlgaard started PEC Solutions, Inc., he found himself president of the Washington Fast 50, the 50 fastest-growing companies in the region. Like other high-tech executives, David discovered that with fast and innovative growth comes challenges—challenges that demand innovative solutions. PEC Solutions executives presented some of those challenges to Jim Wright when they came to him for a build-to-suit transaction in 1997.
The challenge: a five-year delay
“I knew we were asking the developer for something a bit out of the ordinary,” Wright says. He identified a building for lease with a neighboring property for purchase. First-class negotiating allowed Wright to convince the developer to
In 1998, PEC moved into Fair Lakes V in Fairfax, Virginia and secured the adjacent land parcel at a reduced price for future construction. The property is at a prime location – visible from the Fairfax County Parkway, just off the I-66 corridor.
Negotiating for the best terms — even with complications
Wright worked out the highly complex mortgage loan to ensure that PEC would secure the most advantageous financing possible. Then, because of his experience in the Doubler’s Club, he was able to keep a close eye on the markets and successfully advised PEC on the best time to lock in the deal. The developer agreed to assume penalties if the new building was not ready for occupancy on time.
The lease was closed in May 2001 and the building was completed on schedule.
Skillful and honest negotiations mean success
“Jim combines his expert knowledge of the real estate industry, his enthusiasm and energy, and his understanding of our corporate personality that he has gained in our 14-year relationship, producing an indispensable resource for a rapidly growing company,” David says. "We consider him to be one of the essential contributors to our company's success."
For the Lord gives wisdom, and from his mouth come knowledge and understanding. (Proverbs 2:6)
Loudoun Parkway Commons sold out in six months