Aspen Builders is a family-owned commercial construction company that had historically leased its operational headquarters. The decision to transition to ownership was driven by a long-term strategic objective: eliminate lease exposure, control occupancy costs, and build equity in a facility the business would operate from permanently.
The challenge was execution. The client required a specific size, layout, and location within the Cool Springs / Franklin corridor — and the on-market inventory did not produce a viable option at the right economics.
Owner-user acquisitions in tight suburban markets present a distinct set of constraints:
On-market properties in the Franklin/Cool Springs corridor were either too large, priced above the client's budget, or not suited to the operational layout required by a construction company.
Waiting for the right property to come to market is not a strategy — it is a dependency. The right property may not come to market on the client's timeline, or may come to market with competing buyers already engaged.
Direct owner negotiations, without competitive bidding, require a different approach than a standard listing transaction. The seller has no market pressure to price competitively unless the buyer creates it through the negotiation structure.
The Giles Group applied its Define → Underwrite → Create Leverage → Execute framework to identify and secure an off-market acquisition.
Documented the client's acquisition criteria precisely — size range, layout requirements, geographic submarket, budget ceiling, and operational specifications. Established that the on-market inventory was insufficient and that an off-market strategy was the appropriate path.
Compiled an ownership list of buildings meeting the client's criteria within the target submarket. Analyzed recent comparable sales to establish a fair market value range for target properties — providing a basis for negotiations before any asking price was established.
Conducted direct outreach to building owners on the compiled list. Structured the initial offer to frame urgency and certainty — a qualified, motivated buyer with defined criteria and the ability to close. Avoided competitive bidding by approaching ownership directly before the property could be listed.
Negotiated purchase price below the seller's initial valuation. Managed the transaction through inspection, title review, PSA amendments, and closing coordination. Closed December 23, 2024.
Size: 3,560 SF
Location: Cool Springs / Franklin, TN
Transaction Type: Off-market owner-user acquisition
Purchase Price: Negotiated below seller's initial valuation
Process: Direct owner outreach — no listing, no competitive bidding
Closed: December 23, 2024
Outcome: Long-term operational headquarters secured; lease exposure eliminated
The defining decision on this assignment was recognizing early that the on-market inventory was not going to produce the right result. Waiting for the right property to appear in CoStar is a passive strategy. Going to find it is an active one.
Compiling an ownership list and conducting direct outreach to building owners is not complicated — but most brokers do not do it, because it requires effort beyond what the MLS provides. The result was access to a property that never came to market, negotiated directly with the owner before any competitive dynamic could develop.
For Aspen Builders, the outcome was exactly what the business needed: a permanent operational headquarters in the right submarket, at economics that made ownership more advantageous than continued leasing, with no competing buyers in the process.
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