Novi Town Center, Novi Michigan

Background

Novi Town Center Investors LLC, a commercial asset ownership entity, has owned a 50-acre regional shopping center in the Mid-West United States since 1993. The open-air center, originally of some 455,000 RSF was constructed circa 1986 and struggled in recent years - never achieving greater than 60% occupancy.

Assignment

Novi Town Center Investors LLC, engaged The Burns Companies to oversee a series of property renovations and additions, and provide strategic advice to improve the usability and visibility of the shopping center. This relationship started in 2005 and has continued to date. Burns, as Owner’s Representative and Development Manager, provided comprehensive oversight for sourcing local architects, engineers, and contractors - and implementing a series of renovations that required permitting and approvals from City, County, and State officials. Burns provided full scope project and schedule management, and detailed cost analysis throughout the project.

The various projects involved: the addition of 26,000 RSF of new out-buildings; upgrades to all building facades; extensive additions and renovations to existing buildings, and preparation of a 13 acre parcel for the construction of a new Walmart Super Center.

Burns acted as liaison to all stakeholders, including: Ownership; General Growth Properties; Simon Property Group; Wal-Mart Real Estate; UBS Global Asset Management, and the City of Novi, MI.

Results

The additions and renovations have revitalized a failing shopping center – and received wide support from the community. Leasing activity has increased exponentially and new stores are already being constructed within the new and renovated buildings.

All budget projections and timeframes have been successfully met – and ownership is on track to recoup its investment while adding value to the asset.

“I have worked with Andy Burns for nearly 13 years on numerous construction, development, design projects related to Novi Town Center in Novi, MI., Andy's capacity as Owner's Rep, my title General Manager. Projects ranged in cost from $10,000 to $10,000,000 or more. Andy, Owner of The Burns Companies has consistently delivered projects on budget, on time, this result is due to his careful planning and overall design, development and construction expertise.”   — Jim Clear, General Manager, Simon Properties


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