Commercial Real Estate Financing
Massive Growth Leads to the Need for Expansion
As a growing law firm, it can be easy to get caught up in the benefits and not stay grounded on logistical factors. With more workers and clients coming into the business every day, it was only when things seemed a bit crowded that the owners realized the current office wasn’t going to cut it anymore.
Jumping into action was the only solution since slowing down wasn’t a consideration for the owners. It was time to dig into solutions and make things work – and quickly.
The Cost to Expand for the Future
This wasn’t a small expansion. It was agreed that going bigger than needed was better than gambling with a space that was too small. After all, if the law firm continued to grow and gain clout, the extra space would be needed later on down the line.
Several buildings would work for the law firm and they ranged in price. However, the average price for a space that would work was $5,000,000. Some of that amount would need to be financed along with the owners putting in some of their own money.