Having nearly doubled their lease space over 20 years in their existing headquarters, Taubman wished to update their facility to create a work environment conducive to their mission of retail mall development and management.
PMC helped Taubman by identifying the best lease option and by managing a massive renovation with minimal disruptions to daily operations.
Challenges
Lease expiration: Taubman's existing lease was expiring. They had to evaluate the economic implications of remaining in their current facility and renovating or relocating to new space.
Enhanced operations: The Corporation wished to improve their space to create a modern, efficient, and high energy work environment.
Minimize disruption: Once the decision was made to renovate their existing space, a plan was required to maintain daily operations construction
Solutions
PMC evaluated facility lease options to identify the best economic alternative.
A ten-year lease was negotiated at the existing location with significant tenant improvement allowances and savings.
PMC managed the redesign and construction process for the extensive renovation in six phases, which resulted in minimal interruptions to daily operations.
PMC assisted in selecting a new furniture line and oversaw the acquisition and installation of furniture for 300 employees (entire facility).
Project Details
- Lease Negotiation Completion: 2004
- Facility Renovation Completion: 2006
- Size: 108,500 square feet
- Services: Market survey, Competitive proposals, Lease negotiations, Owner representation, Design management, Move management, Construction oversight, Communication liaison between senior management and project team
- Results: Lease negotiations saved over $11 million over ten years over former renewal, while delivering an exceptional updated headquarters facility.
P&MC Project Team
Architect Contact Information
Lise Newman, Landry+Newman 248-593-6577