PFCU CU – New Caledonia Branch
Services Provided: Strategic Site Study, Site
negotiation, due diligence and acquisition, Retail
Design and Team Build Construction
Completion: December 2024
Job Cost: $ 1,412,060
Building Size: 2,251 sq. ft.
Type/Location: New Branch – Caledonia, MI
Description: The client was looking to improve the location and visibility of their leased branch in Caledonia. PFCU had a good idea that they wanted to stay in Caledonia but wanted us to validate that with data and our experience. We compared the Caledonia market to their most successful branch/market. Based on this information, we then provided the best sites in the Caledonia market and helped them select the site they ended up with. Unfortunately, Caledonia was a very challenging Township to work with in developing a commercial site. The site plan approval process took 2-3 times longer than any approval I have been involved in the last 20 years. In the end, we were successful in receiving our site plan approval, finished our due diligence and closed on the property on end and the end result is do their due diligence to acquire the current site. . knew that they wanted so we completed a Strategic Site Study to compare three potential markets. The study showed that Ludington provided the best opportunity for growth so we then presented the 5 best sites in the area and ended up with a site in front of the Meijer between Ludington and Scottsville. This location has very good traffic counts with one the best demand generators in the area, Meijers.
We had not previously developed a Meijer outlet and found them great to work with. The site plan approval, closing on the property and completing all due diligence all went off without a hitch. We went from Purchase Agreement on 4/3/23 to starting construction on 8/30/23, closed in the building by the late Fall and finished construction in late Spring 2024.
We probably could have finished the building a bit quicker but the client wasn’t in a hurry so the finish date worked well for them. We were able to create a unique prototype branch that Filer CU will be able to use in future developments and even retro-fit components to existing branches to continue to strengthen their brand!
