Challenge
Cornerstone Home Lending – a national mortgage company headquartered in Houston with more than 200 offices – needed a trusted partner to oversee and execute its Pacific Northwest real estate strategy. Over the years, the company has faced a dynamic mix of growth and contraction: opening new branches in fast-growing times, relocating or resizing as business cycles shift, and right-sizing after the pandemic when remote work reshaped space needs.
Operating across several very different Washington State submarkets- from Class A+ downtown office towers to smaller suburban and rural locations- Cornerstone required a single point of contact to navigate diverse landlord types, complex leases and dispositions and changing economic conditions.
Action & Results
Since 2010, Ben Garrett served as Cornerstone’s dedicated real estate partner in the Pacific Northwest, consummating 19 total lease transactions. Ben’s work has included:
- Portfolio strategy & lease administration-tracking critical lease dates, advising on renewals vs. relocations, and keeping leadership aware of key milestones
- Complex deal-making- including five challenging sublease transactions to exit or reposition quickly when needed
- Market intelligence- surveying and negotiating within eight submarkets, from premier Seattle CBD high-rises to flexible, cost-effective suburban offices
- Pandemic-driven right-sizing- disposing of underutilized locations during the shift to remote and hybrid work
- Alignment with leadership- coordinating closely with both Cornerstone’s regional team and national real estate department to streamline approvals and keep deals on schedule
- Predictable, repeatable transaction process with efficient communication and timely reminders on key dates
- Resilient, right-sized footprint that adapts to changing mortgage industry cycles
This proactive, portfolio-based approach ensures Cornerstone has the right space at the right time, without surprises or missed opportunities.