A business model built to withstand

In the midst of recession, Creighton Development got a call from 7-Eleven to build a store in a hurry. That launched a fruitful relationship and a strategy for the next downturn.

By Andrew Warfield
| 6:00 a.m. March 29, 2019
| 0 Free Articles Remaining!

Dan Creighton sees similar market conditions that persisted prior to the recession, and has been busy building Creighton Construction & Development to withstand the next downturn. JimJett.com photo

Strategies

Dan Creighton has seen it before, that widening crevice between how much developers will pay for property and how much owners believe their property is worth. The last time was just before the recession.

A collection of commercial developments on both sides of College Parkway near U.S. 41 in Fort Myers stands as testimony. Where once stood an empty grocery store, a failing hotel and crumbling retail buildings is now home to new stores, quick-serve restaurants, a Wawa and more. Creighton, founder and partner of Cape Coral-based Creighton Construction & Development, was prepared to offer about $10 million for the former Clarion Hotel site a decade ago. Its owner wanted $40 million.