According to the 80/20 rule of business development, 80 percent of your business will come from 20 percent of your customers. Whether or not those percentages are 100 percent accurate, the underlying principle speaks to the fact that satisfied clients will turn to you for assistance as their companies evolve over the years and their needs change. Such is the case at Berger Commercial Realty, where the first transaction with a client is typically the beginning – not the end – of a long-term relationship.
A company’s requirement for commercial space fluctuates according to the specific needs of its business within the context of broader economic and market conditions.
For instance, in 2014, Senior Vice President Steve Hyatt was hired by Holman Automotive Group to assist with the relocation of Lauderdale MINI, its MINI Cooper dealership and showroom located on Federal Highway in Fort Lauderdale. After an extensive analysis of Holman’s requirements for the property and its location, Hyatt proposed the purchase and renovation of an existing 38,000-square-foot building featuring a parking garage with 185 spots. With Hyatt’s negotiating expertise, Holman Automotive acquired the property for $3.65 million.
The architectural team of Falkanger, Snyder, Martineau and Yates was engaged to design a new, state-of-the-art showroom and sales department consistent with MINI’s corporate standards, which Miller Construction then built. After the $4.3 million renovation, the new, ultra-modern Lauderdale MINI dealership opened at 2125 S. Federal Highway in November 2017.
Just a few blocks away, Holman Automotive completed its $15 million BMW and MINI service center, which opened in 2015. Holman Automotive purchased the property in March 2013 for $5.6 million in a deal that was closed by none other than Steve Hyatt.
Whether or not the 80/20 rule applies, the key to earning every client’s repeat business is to exceed their expectations for extraordinary service and tailor-made solutions, At Berger Commercial Realty, our clients hire us time and time again, specifically for that reason. We view each brokerage or property management engagement as one chapter in an ongoing relationship.
We look forward to serving you in the New Year!