HDREP acts as Novation Companies, Inc.’s (NC) outsourced real estate department and interacts with NC’s procurement, operations, finance and legal departments to ensure the best business decisions are made. HDREP also spearheads the assembly and management of the NC Real Estate Team, which includes a national architecture firm, construction manager and furniture consultant. The NC Real Estate Team established a National Standards Program for process, procedures, design and implementation to assist in the nationwide expansion, while affording NC significant discounts for such products and services.

Brokerage Services

HDREP has performed brokerage services for numerous NC facilities.

Result

The list of successful office transactions include 33,000 square feet in Indianapolis, Indiana; 30,000 square feet in Richfield, Ohio; 35,000 square feet in Detroit, Michigan; 19,000 square feet in Milwaukee, Wisconsin; 40,000 square feet in Salt Lake City, Utah; 5,000 square feet in Chicago; and Novation Companies, Inc.’s 200,000 square foot headquarters in Kansas City, Missouri. Most recently, a 77,000 square foot facility at Netpark Tampa Bay in Hillsborough County, more than doubled NC’s present in Florida. This facilitated an addition of 300 more employees, which enabled HDREP to negotiate an attractive incentive package on behalf of NC.

Consulting Services

In 2003, NC retained HDREP to consult them and its four subsidiaries (NMI Wholesale, NMI Retail, NMI Direct and NHMI Retail) on a major expansion and restructuring of its national operations, along with a consolidation of its retail branch office portfolio. With more than 350 leases nationwide, NFI was experiencing tremendous growth in various areas of its operations, while paring down operations in other arenas to focus on its core business.

Result

Along with NC, HDREP completed extensive evaluation of numerous metropolitan areas to determine the viability of success for various NC business plans in those markets. This evaluation led to several expansions and the consolidation of NC’s retail branch office locations to fewer than 100.

Administrative Services

HDREP audits monthly operating invoices, oversees lease close outs, and reviews all requests made by NC’s various landlords. The goal is to ensure that all interactions with NC’s landlords result in the best possible outcome for NC at the lowest possible cost.

Result

Recently, HDREP discovered a landlord attempting to unjustifiably increase NC’s operating costs by 20%. HDREP immediately contacted the Landlord and had the cost removed from the invoice saving NC over $80,000 per year.