Retail Center

Summary

As part of the client’s due diligence work, Nova was hired to complete an equity-level Property Condition Assessment for a retail site in Snoqualmie, Washington. The project consisted of five single-story retail buildings constructed in between 2003 and 2006. The strip retail centers had a variety of exterior wall finishes.

Highlights

During the initial site observations for the PCA, Nova determined that the stucco-clad elevations of the building had excessive hairline cracking. While on-site, our associate was able to contact one of our in-house Registered Exterior Wall Consultants to review the field conditions. The Nova team was able to confirm field conditions indicative of systemic failure. We quickly communicated this information and the potential cost impact to the client. A follow-up site visit was scheduled to complete an infrared assessment (moisture survey) and collect samples for petrographic analysis. Based on the additional information obtained, Nova was able to provide an accurate repair scope and cost to our client. While the original PCA would have identified the issues with the stucco, the true extent and overall cost impact of the issue would have been an unknown risk. The detailed scope and costs gave the client the information needed to negotiate with the seller for corrective repairs. By working closely with the current building owner, their contractor, and the client, Nova was able to ensure repairs were properly completed.

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