It’s OK to pass on a bad deal and stay focused on the fundamentals

The Last Word

Mark Irgens

Mark Irgens
Chief executive officer and manager
Irgens Partners LLC
648 N. Plankinton Ave., Suite 200, Milwaukee
Industry: Commercial real estate
Employees: 100
www.irgens.com


Mark Irgens is the chief executive officer and manager of Irgens Partners LLC, a developer, investor and operator of commercial office, mixed used, health care and industrial properties in Milwaukee. It is sometimes better to skip a bad deal, he says.

“A rewarding aspect of being in the real estate development business is having the opportunity to create buildings and space that can help define a place for people. It can also be daunting, though, with the permanency of every project and the challenge to meet the expectations of yourself and those being served.

BTLW_Mark_Irgens

“It is rarely a straight line from initial idea to successful outcome. Often, there are challenges and obstacles that require patience, attention to detail, understanding, creativity and flexibility. In some cases, there is no overcoming economic and other challenges that keep a project from getting off the ground. It is sometimes better to skip a bad deal, be patient and follow good fundamental business practice. It’s only a matter of inches between success and failure. When a worthwhile opportunity presents itself, the key is to move with certainty and steady quickness—‘Carpe diem.’

“Years ago, Irgens’ leadership developed guiding principles that have allowed our team to realize mostly successful outcomes. They include:

  • Establishing and nurturing long-term relationships
  • Fostering a work culture of creativity and innovation
  • Managing growth and seeking future opportunities
  • Providing profitable, sustainable and responsible solutions to challenges.

“Successful partnerships rely on the ability to listen to the goals, vision and objectives of a client. Successful outcomes materialize when all the of options that present themselves in a project are uncovered and considered.

“These principles have allowed Irgens to meet many challenges and build projects for people and the communities we all live in.”

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