Heralded as a top producer and premier practitioner at the large-scale practice where he worked in the Atlanta, GA area, Dr. Marc Wright finally decided to also develop an office of his own to secure his future.
Steps to Success – Dr Wright partners with Masserano Real Estate and Consulting
- Step 1: Research began within the entire central Georgia area to identify a location suitable for starting the new venture amid the slow recovery from the great recession and that would not infringe upon the practices where he was working.
- Step 2: After studying a variety of submarkets, an underserved area close in to the city was identified, and negotiations began for the lease space and the project loan. The area in the vicinity of the site, as well as the property and buildings themselves, were undergoing revitalization.
- Step 3: The actual site required vision on the part of Dr. Wright and Masserano, as there was no existing entry to the space or windows or building façade, and the entire property was in the midst of receiving new facades, landscaping, parking restructuring and re-tenanting.
- Step 4: Masserano carefully negotiated the lease to coincide with the shopping center redevelopment, including provisions to reduce and defer rent based on progress goals that had to be reached by the developer.