Veteran CRE development pros launch Rethink Owner Solutions

Commercial real estate experts Rick Goldman and Justin Pathmann have formally launched REthink Owner Solutions, an innovative development and construction management advisory firm that allows developers, owners and businesses to tap into vast expertise and proven methodology they otherwise might not be able to access or afford.

The announcement comes as REthink already has a roster of projects, including a new senior housing project that is scheduled to break ground in Mt. Prospect, Illinois and the transformation of underutilized book stacks into state-of-the-art meeting and amenity spaces at the Highland Park Public Library.

Goldman has more than 30 years of diversified commercial real estate development and construction management experience. Most recently, for the last 19-plus years, he was an owner of Pacific Construction Services. He has also developed and redeveloped commercial and residential properties across the country, for his own firms as well as during executive positions with Crate & Barrel and TrizecHahn Development Corporation, among others.

Pathmann has more than 20 years of construction management experience. In 2017 his former firm, Pathmann Construction Management, merged with Pacific Construction Services. He is proficient as a municipal construction manager and has completed more than 20 public library assignments and numerous other township projects.

In establishing REthink, based in Highland Park, Illinois, Goldman and Pathman are making available the insights, knowledge, expertise and proprietary processes that more typically are found within dedicated real estate departments. That is a luxury, Goldman says, that few groups—CRE developers, property owners and investors, public libraries, retailers, restaurants and commercial tenants—have the flexibility or resources to afford.

“The value of REthink is in the collective development and construction experience we bring to any developer and any development or project throughout the U.S.,” Goldman said. “It’s the tangible experience and tremendous value created when executing a $50 million ground-up development, carving out new restaurant space from a mall parking garage, or managing tenant development assignments in retail centers and office buildings.”

In conjunction with formally announcing REthink, the firm has been added to the development team for Kensington Senior Residences, a fully-amenitized, 75-unit affordable senior housing community being developed by Perlmark Housing in Mt. Prospect. As owner’s representative, REthink’s role will be to manage and orchestrate the overall construction and development process of a plan Goldman says has been “well-conceived” from the start.

“We provide elasticity and mitigate risks for developers and development teams like Perlmark; we create efficiencies, enhance the value of an investment and maximize returns,” Goldman said. “There are times when a developer or business owner needs the insights, perspectives and problem-solving capabilities that come from 30-plus years of executing successful outcomes. REthink does that.”

Another signature project for REthink has been the transformation of underutilized book stacks into meeting rooms and conference spaces at the Highland Park Public Library. Those spaces are on par with a shared office environment in a commercial office building. The five dynamic, glass-enclosed spaces offer state-of-the-art technology and individual climate control systems. The spaces provide accommodation for individuals and groups of as many as 12 people.

“This is a signature project for Highland Park,” Pathmann said. “It’s important to note that throughout the uncertainty the coronavirus created, we never lost a day on the schedule, or incurred additional expenses because of the pandemic. That speaks volumes to our ability to pivot and execute on behalf of our clients.”

The formation of REthink has been more than 30 years in the making. At the end of 2019 Goldman and his partner sold Pacific Construction Services which created the opportunity for Goldman and Pathmann to focus on their individual and collective experiences and provide clients with a comprehensive menu of advisory services that produce tangible outcomes.