At the start of the 1990’s, a technology company outside of Boston (a unit of a well-known mobile phone maker) collapsed shortly after completing construction of its beautiful, new headquarters. The building, on the grounds of an historic site dating back to the Revolutionary War, was never occupied. It was put up for sale and my employer submitted a low-ball cash offer of half the asking price.
I was told by someone in the know that the parent company’s rejection of our offer was less polite than saying, “You must be joking.” A year later, with commercial real estate in a slump, and having received no other offers, they came back with their figurative tails between their legs. Was the offer still good? Yep, the same amount, take it or leave it. They took it.